NB Global Monthly Income : NBMI (formerly The NB Global Floating Rate Income Fund Limited : NBLS / NBLU) is a Guernsey incorporated closed-ended investment company. It aims to provide its shareholders with consistent levels of monthly income, while maintaining or increasing the Net Asset Value per Share over time.
The company will invest in credit assets with the following target portfolio allocations: (i) 50-70% in traditional credit, meaning high yield bonds, floating rate loans and investment grade corporate bonds; and (ii) 30-50% in alternative credit, meaning “special situations” (consisting generally of tradeable but less liquid debt securities, such as stressed credit and CLO debt tranches), mezzanine debt, “club” loan transactions (being syndicated lending opportunities presented through the Company’s or Investment Manager’s relationship with loan arrangers and/or borrowers) and private corporate loans issued directly to borrowers. Investments in alternative credit will not represent more than 50% of Net Asset Value at the time of investment.
The company’s investments will be issued in U.S. Dollars, Sterling and Euros by corporations, partnerships and other business issuers based primarily in North America, the UK and Europe. At the time of investment these loans, bonds and other debt instruments will often be non-investment grade.