Thornburg Income Builder Opportunities Trust Closes Public Offering of Common Shares

SANTA FE, N.M., Aug. 3, 2021 /PRNewswire/ -- Thornburg Investment Management ("Thornburg"), a global investment firm that oversees $49 billion in assets,¹ today announced that the Thornburg Income Builder Opportunities Trust (NASDAQ: TBLD) has closed its previously announced underwritten public offering of 29,000,000 common shares of beneficial interest ("Common Shares") at an offering price of $20 per Common Share.

As a result, the Trust received net proceeds from the offering of approximately $580 million. The Trust intends to invest the net proceeds from the offering in accordance with its investment objective and policies.

The Trust seeks to provide high current income and additional total return by investing in a broad range of income-producing securities. Using an active global allocation and a rigorous bottom-up fundamental investment process, the Trust invests in both equity and opportunistic fixed income located in the United States and around the globe, including emerging markets.

Thornburg Co-Head of Investments Ben Kirby, along with co-portfolio managers Matt Burdett and Christian Hoffmann, provide day–to–day management of the Trust's portfolio and enforce a disciplined, repeatable process. They are supported by all members of the Thornburg investment team.

The lead managers of the underwriting syndicate were UBS Investment Bank, Wells Fargo Securities, RBC Capital Markets, Stifel and Oppenheimer & Co.

About Thornburg

Founded in 1982, Thornburg Investment Management is a privately owned global investment firm that offers a range of multi-strategy solutions for institutions and financial advisors. A recognized leader in fixed income, equity and alternatives investing, the firm oversees $49 billion¹ as of June 30, 2021 across mutual funds, institutional accounts, separate accounts for high-net-worth investors and UCITS funds for non-U.S. investors. Thornburg is headquartered in Santa Fe, New Mexico, with additional offices in London, Hong Kong and Shanghai.

At Thornburg, we believe unconstrained investing leads to better outcomes for our clients. Our culture is collaborative, and our investment solutions are highly active, high conviction and benchmark agnostic. When it comes to finding value for our clients, it's more than what we do, it's how we do it: how we think, how we invest and how we're structured.

For more information, visit www.thornburg.com or call (877) 215-1330.

About the Trust

The Trust's investment objective is to provide current income and additional total return. The Trust seeks to achieve its objective by investing, directly or indirectly, at least 80% of its managed assets in a broad range of income-producing securities. The Trust will invest in both equity and debt securities of companies located in the United States and around the globe. The Trust may invest in non-U.S. domiciled companies, including up to 20% of its managed assets at the time of investment in equity and debt securities of emerging market companies.

Limited Term

The Trust intends to terminate on or before August 2, 2033 (the "Termination Date"). The Termination Date may be extended once for up to one year; once for up to an additional six months; and the Trust may conduct an eligible tender offer. Upon termination or the eligible tender offer, each common shareholder would be eligible to be paid its pro rata portion of the Trust's net assets. If due to tendered shares the Trust's net assets would total less than $100 million, then the Trust will begin to terminate on or before the Termination Date. Following the tender offer, if the Trust's net assets are greater than $100 million, the Trust may eliminate the term structure upon a vote of its Board of Trustees.

Investment in the Trust involves special risk considerations. The Trust is designed as a long-term investment and not as a trading vehicle. The Trust is not intended to be a complete investment program. The Trust's performance and the value of its investments will vary in response to changes in interest rates, inflation and other market factors. Investors should consider the risks as well as other information in the Trust's prospectus. Shares of closed-end funds trade in the secondary market and may frequently trade at a discount to their net asset value and initial offering price. The risk of loss due to this discount may be greater for initial investors expecting to sell their shares in a relatively short period after completion of the initial public offering.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any offer, solicitation or sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction. A registration statement relating to these securities has been filed with and declared effective by the U.S. Securities and Exchange Commission. An offer will be made only by means of the prospectus. An investor should carefully read the Trust's prospectus, which includes a discussion of investment objectives, risk factors, fees and expenses, before investing. A copy of the final prospectus relating to the offering may be obtained from the Trust at 877-215-1330 or contact your financial advisor.

Certain statements in this press release constitute forward-looking statements, which involve known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of the Trust, or industry results, to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. As a result, no assurance can be given as to future results, levels of activity, performance or achievements, and neither the Trust nor any other person assumes responsibility for the accuracy and completeness of such statements in the future.

Risk is inherent in all investing. There can be no assurance that the Trust will achieve its investment objective, and you could lose some or all of your investment.

NOT FDIC INSURED      NO BANK GUARANTEE      MAY LOSE VALUE

Thornburg Securities Corporation, Distributor

Media Inquiries 
Michael Corrao
Director of Global Communications
Thornburg Investment Management
Tel: +1 (505) 467-5345
Email: [email protected]

¹ Includes $46.7 billion in assets under management and $1.9 billion in assets under advisement as of June 30, 2021.

SOURCE Thornburg Investment Management

Related Links

www.thornburg.com

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