HMS Income Fund to raise funds for loan investments via share offering

By Toni Weeks

San Luis Obispo, Calif., May 16 - HMS Income Fund, Inc. announced in a 497 filing with the Securities and Exchange Commission that it is planning a public offering of common stock.

The externally managed, non-diversified, closed-end management investment company seeks to generate current income with long-term capital appreciation as a secondary objective. The fund invests primarily in senior secured term loans, second-lien loans and mezzanine debt as well as selected equity investments issued by lower-middle-market and middle-market companies.

The investment committee includes Alejandro Palomo, Ryan T. Sims and Frank R. Apollo.

The company is offering 150 million shares at $10 per share through dealer manager Hines Securities, Inc.

The sales load is 10%. Including a management fee of 3%, total annual expenses are expected to be 5.61%.

Houston-based HMS Adviser LP serves as the fund's investment adviser.

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