DNP Select Income Fund Inc. to Pay in Full Its Series A Senior Secured Notes

CHICAGO--(BUSINESS WIRE)--DNP Select Income Fund Inc. (NYSE: DNP), a closed-end fund advised by Duff & Phelps Investment Management Co., announced today that the Fund will pay its 2.76% Series A Senior Secured Notes due July 22, 2023 (“Series A Senior Notes”) in full at maturity.

Since the scheduled maturity date falls on a non-business day, the Fund will pay the $100 million in principal of its Series A Senior Notes (CUSIP 23325PA*5) on July 24, 2023. The payment will also include regular semi-annual interest due at maturity plus the additional interest incurred from the payment being made on the next succeeding business day.

The payoff of the Series A Senior Notes is being funded by the borrowing of an additional $100 million under the Fund’s existing credit facility with a major commercial bank. The Fund’s expanded credit facility, along with the Fund’s remaining Senior Notes and Mandatory Redeemable Preferred Shares, all provide leverage for the benefit of the Fund’s common shareholders.

About the Fund

DNP Select Income Fund Inc. is a closed-end diversified investment management company whose primary investment objectives are current income and long-term growth of income. The fund seeks to achieve these objectives by investing primarily in a diversified portfolio of equity and fixed income securities of companies in the public utilities industry. For more information, please visit dpimc.com/dnp or call [phone].

About the Investment Adviser

Duff & Phelps Investment Management Co,. an affiliated manager of Virtus Investment Partners, Inc., began in 1932 as a fundamental research firm and has been managing assets since 1979. The firm seeks to provide specialty investment strategies that enhance client outcomes through active portfolio management and customized solutions, utilizing a process with values that include quality, reliability, and specialization. Investment strategies include U.S. and global real estate securities, global listed infrastructure, energy infrastructure, water, and clean energy.