Neuberger Berman extends tender offer for auction market preferreds

By Susanna Moon

Chicago, March 28 - Neuberger Berman Real Estate Securities Income Fund Inc. extended the tender offer for its auction market preferred shares until 5 p.m. ET on April 5, according to a news release from Neuberger Berman Management LLC.

The expiration was pushed back from March 28. The offer began March 1.

As of March 25, investors had tendered 63% of the preferreds.

"Even though the level of participation in the tender offer has been significant, the fund has decided to extend the offer in order to provide AMPS holders who may still want to tender, but have not yet done so, the ability to take advantage of the fund's tender offer. There can be no guarantee that there will be future liquidity for the AMPS," according to the release.

The fund is offering 98% of par plus accrued dividends. The preferreds have a liquidation preference of $25,000 each.

The information agent is Okapi Partners LLC (877 796-5274 or 212 297-0720).

Neuberger Berman Group LLC is an asset management company based in New York.

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