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Carey Credit Income, feeder funds to buy back common shares

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Carey Credit Income, feeder funds to buy back common shares

Carey Credit Income Fund is offering to repurchase 309,262 of its outstanding common shares for cash at $8.47 per share.

The offer will expire at 5 p.m. CT on March 9, unless extended. The total cost of the transaction to Carey Credit Income Fund would be about $2.6 million. The company plans to use cash on hand, proceeds from sales of is portfolio securities, borrowings under its credit facility and/or cash proceeds from the issuance and sale of its shares to purchase validly tendered shares in its tender offer.

Carey Credit Income Fund - I is also offering to buy back 7,995 of its outstanding common shares for cash at $25.75 per share, while Carey Credit Income Fund 2016 T said it will repurchase 136,060 of its outstanding common shares for cash at $9.29 per share. These offers will expire at 5 p.m. CT on March 3, unless extended.

The total cost of Carey Credit Income Fund - I's tender offer to the company would be about $205,871, while Carey Credit Income Fund 2016 T's transaction would cost the company about $1.3 million. Both of those funds plan to use cash on hand, proceeds from the sale of their shares and/or proceeds from the parallel offer of the master fund to purchase validly tendered shares in their respective tender offers.