CORRECTING and REPLACING BNY Mellon Alcentra Global Multi-Strategy Credit Fund, Inc. Declares Quarterly Distribution and Special Year-End Distributions

NEW YORK--(BUSINESS WIRE)--In the first paragraph, the third and fourth sentences are corrected to read: Each distribution will be payable on January 6, 2022 to shareholders of record at the close of business on December 21, 2021. The ex-dividend date is December 20, 2021.

The updated release reads:

BNY MELLON ALCENTRA GLOBAL MULTI-STRATEGY CREDIT FUND, INC. DECLARES QUARTERLY DISTRIBUTION AND SPECIAL YEAR-END DISTRIBUTIONS

On December 7, 2021, BNY Mellon Alcentra Global Multi-Strategy Credit Fund, Inc. (Ticker: XALCX) declared a quarterly distribution of $1.75 per share of common stock. In addition, the Fund declared a special year-end distribution of $0.82 per share of common stock. Each distribution will be payable on January 6, 2022 to shareholders of record at the close of business on December 21, 2021. The ex-dividend date is December 20, 2021. The previous quarterly dividend declared in August was $1.75 per share of common stock.

For Federal income tax purposes, these distributions will be taxable to common shareholders in 2021, although the distributions will be paid in 2022. This press release is not for tax reporting purposes but is being provided to announce the amount of the Fund’s distributions that have been declared by the Fund's Board of Directors. In early 2022, the Fund will send common shareholders a Form 1099-DIV, specifying how to report these distributions for tax purposes.

The Fund intends to distribute all or a portion of its net investment income to common shareholders on a quarterly basis. To permit the Fund to maintain a more stable quarterly distribution, the Fund may from time to time distribute less than the entire amount of income earned in a particular period. The undistributed income would be available to supplement future distributions. Under normal market conditions, the Fund is managed in a manner such that the Fund’s distributions are reflective of the Fund’s current and projected earnings levels. Various factors will affect the Fund’s earnings, including the Fund’s asset mix, the average maturity of the Fund’s portfolio and the Fund’s use of hedging, as well as broader market conditions and interest rate levels. As portfolio and market conditions may change, the distribution rate, the composition of the distribution and the Fund's policy to declare and pay distributions quarterly may be subject to change, including by the Board of Directors.

Important Information

BNY Mellon Investment Adviser, Inc., the investment adviser for the Fund, is part of BNY Mellon Investment Management. BNY Mellon Investment Management is one of the world’s largest asset managers, with $2.3 trillion in assets under management as of September 30, 2021. Through an investor-first approach, BNY Mellon Investment Management brings to clients the best of both worlds: specialist expertise from eight investment firms offering solutions across every major asset class, backed by the strength, stability, and global presence of BNY Mellon. Additional information on BNY Mellon Investment Management is available on www.bnymellonim.com.

BNY Mellon Investment Management is a division of BNY Mellon, which has $45.3 trillion in assets under custody and/or administration as of September 30, 2021. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.

The Fund's investment returns and principal values will fluctuate so that an investor’s shares may be worth more or less than the original cost. There is no assurance that the Fund will achieve its investment objective.

This release is for informational purposes only and should not be considered as investment advice or a recommendation of any particular security.