Company: FCO
Filing Date: 2025-01-10
Form Type: N-CSR
Source: 0001104659-25-002474
Chunk: 33

Company: ABRDN GLOBAL INCOME FUND, INC.
Filing Date: 2025-01-10
Form: N-CSR
Chunk 33
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idend Reinvestment and Cash Purchase Plan. As of October 31, 2024, there were 13,434,450 shares of common stock issued and outstanding. Offering costs of $151,076 incurred through the Fund's shelf registration statement and at-the-market offering were expensed to the Fund upon expiration (see the Statement of Operations under the line item Shelf registration and at-the-market offering expenses). Prior to the expiration of the registration statement there were no shares sold under the offering. 6. Open Market Repurchase Policy The Board approved an open market repurchase and discount management policy (the “Program”). The Program allows the Fund to purchase, in the open market, its outstanding common shares, with the amount and timing of any repurchase determined at the discretion of the Investment Manager. Such purchases may be made opportunistically at certain discounts to NAV per share in the reasonable judgment of management based on historical discount levels and current market conditions. On a quarterly basis, the Board will receive information on any transactions made pursuant to this policy during the prior quarter and if shares are repurchased management will post the number of shares repurchased on the Fund’s website on a monthly basis. Under the terms of the Program, the Fund is permitted to repurchase up to 10% of its outstanding shares of common stock in the open market during any 12 month period as of October 31 of the prior year. For the fiscal year ended October 31, 2024, the Fund did not repurchase any shares through this Program. 7. Credit Facility The Fund may use leverage to the maximum extent permitted by the 1940 Act, which permits leverage to exceed 33 1/3% of the Fund’s total assets (including the amount obtained through leverage) in certain market conditions. The Fund’s Revolving Credit loan Facility with The Bank of Nova Scotia was amended on February 27, 2024 to extend the scheduled commitment termination date to February 25, 2025 with a committed facility amount of $25,000,000. As of October 31, 2024, the balance of the loan outstanding was $22,050,000. For the fiscal year ended October 31, 2024 the average interest rate on the loan facility was 6.49% and the average balance was $21,367,213. The interest expense is accrued on a daily basis and is payable to The Bank of Nova Scotia on a monthly basis. The amounts borrowed from the loan facility may be invested to return higher rates