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XAI Octagon Floating Rate & Alternative Income Trust | Float Rate & Alternative Income Term Trust Series 2026 Term Prfd (XFLT.PRA)
Prospectus excerpt: The Trust is offering 1,040,000 shares of its 6.50% Series 2026 Term Preferred Shares (the “2026 Preferred Shares”). The Trust will pay quarterly dividends on the 2026 Preferred Shares at an annual rate of 6.50% of the $25 liquidation preference per share, or $1.625 per Preferred Share per year, every January 31, April 30, July 31 and October 31, commencing July 31, 2021. Full Prospectus PDF », Secondary Prospectus PDF », XFLT Page »
| Alternate symbology: | XFLT-A, XFLT-PA, XFLTprA | | Redeemable?: | Yes | | Call Date: | 3/31/2023 (Now Trading Post Call Date) | | Maturity Date: | 3/31/2026 | | Cumulative?: | Yes | | Shares Offered: | 1,040,000 | | Overallotment: | 156,000 | | Liquidation Preference: | $25.00 | | Recent Market Price: | $24.59 | Discount to Liquidation Preference:
(More Preferreds Trading at a Discount ») | $-0.41 (-1.64%) | | Annualized Dividend: | 1.625 | | Recent Ex-Date: | 4/12/2024 | | Current Yield: | 6.61% | | Original Coupon: | 6.50% | | Pay Period: | Quarterly | | Pay Dates: | 31-Jan, 30-Apr, 31-Jul, 31-Oct | | CDx3 Compliance Rating: |
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XAI Octagon Floating Rate & Alternative Income Term Trust is a newly-organized, diversified, closed-end management investment company. The Trust seeks to achieve its investment objective by investing in a dynamically managed portfolio of opportunities primarily within the private credit markets. As of Sept 30 2017, the Trust had total assets of $71,158,579. Preferred: XFLT.PRA
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