Flat Rock Core Income Fund Announces Distribution Increase
Flat Rock Global's Board of Directors Approves Increase in Monthly Distribution
JACKSON, Wyo., March 13, 2023 (Newswire.com) - Flat Rock Core Income Fund (the "Fund"), an SEC-registered interval fund1 provides exposure to investments focused on first lien, floating rate loans, to middle market companies, announced that its Board of Directors has declared an increase in its monthly distribution to $0.133 per share, which will become effective with its April distribution. Based upon the closing price of the Fund as of Feb. 28, this distribution increases the effective distribution rate from 6.73% to 7.86%. As of year-end, the earnings yield of the Fund is 8.77%.2
"Flat Rock Core Income Fund had a successful 2022, and 2023 is off to a strong start. We continue to see exciting investment opportunities while remaining highly selective in our approach. In addition, the recent higher interest rate environment has led to increased income on many of our investments. We are pleased that the current interest rate environment, coupled with the Fund's performance, allows us to increase the distribution rate. We will continue to monitor the interest rate environment for potential future changes to our distribution rate," said Robert Grunewald, Founder and CEO of the Fund's advisor, Flat Rock Global.
About Flat Rock Core Income Fund:
Flat Rock Core Income Fund invests primarily in middle market loans with an investment objective to generate current income and as a secondary objective, long-term capital appreciation. Flat Rock Core Income Fund is structured as an SEC-registered interval fund1 and can be purchased using the ticker CORFX.
About Flat Rock Global:
Founded in July 2017, Flat Rock Global is an alternative credit manager investing in areas of the credit markets we believe are less efficient with the dual objective of preservation of capital and generation of current income. The Firm celebrated its five-year anniversary last year and manages approximately $550 million of assets as of Dec. 31, 2022. To learn more about the Firm and our funds, please visit www.flatrockglobal.com.
- The Fund is organized as a Delaware statutory trust and registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as a continuously offered, non-diversified, closed-end management investment company that is operated as an interval fund.
- Net Investment Income / Average Net Assets for 2022
Consider the investment objectives, risks, charges, and expenses of the Fund carefully before investing. Other information about the Fund may be obtained at https://flatrockglobal.com/core-income-fund/. This material must be preceded or accompanied by a prospectus. ALPS Distributors Inc. serves as our principal underwriter, within the meaning of the 1940 Act, and will act as the distributor of our shares on a best efforts' basis, subject to various conditions.
ALPS Control Number: FRC000207
Source: Flat Rock Global