NEW YORK, Aug. 18, 2026 /PRNewswire/ -- Credit Suisse High Yield Credit Fund (NYSE American: DHY) (the "Fund") announced today that the Fund's Board of Trustees (the "Board") has approved a 1-for-10 reverse share split of the Fund's common shares of beneficial interest ("common shares").
The Fund anticipates completing a 1-for-10 reverse share split prior to the open of trading on the NYSE American on September 30, 2026 for common shareholders of record as of the close of business on September 29, 2026. Trading in the Fund's common shares on a split adjusted basis is expected to begin at the open of trading on the NYSE American on September 30, 2026. The Fund's common shares will continue trading on the NYSE American under its existing ticker symbol (NYSE American: DHY) but will be assigned the new CUSIP number below.
Ticker
Fund Name Current CUSIP New CUSIP
DHY Credit Suisse High Yield Credit
Fund* 22544F103 22544F202
* As previously announced, the Fund's name will change from "Credit Suisse High Yield Credit Fund" to "UBS Asset
Management High Yield Credit Fund" effective September 4, 2026.
As a result of the reverse share split, every ten shares of the Fund's outstanding common shares will be converted into one common share. The reverse share split will decrease the number of the Fund's common shares outstanding and potentially increase the market price per common share by a proportional amount. While the number of the Fund's outstanding common shares will decline, neither the Fund's portfolio holdings nor the total value of shareholders' investments in the Fund will be affected as a result of the reverse share split. After the reverse share split, common shareholders' accounts will reflect proportionally fewer common shares with a higher net asset value per common share and each common shareholder will hold the same percentage of the Fund's outstanding common shares as such shareholder held immediately prior to the reverse share split, subject to adjustments for fractional shares resulting from the reverse share split (discussed below).
No fractional shares will be issued as a result of the reverse share split. Fractional shares that may result from the reverse share split will be aggregated and sold on the NYSE American by the Fund's transfer agent and the proceeds will be distributed pro rata among shareholders who would otherwise have received fractional shares in the reverse share split. The pro rata cash payment received by shareholders will be net of any customary fees and expenses in proportion to their allocable share of the total proceeds of the sales. Shareholders will be receiving additional information regarding the reverse share split from Computershare Trust Company, N.A., the Fund's transfer agent.
The Board and UBS Asset Management (Americas) LLC (the "Adviser") believe that increasing the market price per share of the Fund's common shares through the reverse share split may broaden the range of potential investors in the Fund's common shares, thereby potentially improving the market for, and liquidity of, the Fund's common shares. This could have the effect of reducing the per share transaction costs associated with buying or selling the Fund's common shares in the secondary market.
About UBS Asset Management (Americas) LLC. UBS Asset Management (Americas) LLC, the Fund's investment adviser, is part of the Asset Management business of UBS Group AG, a leading global financial services organization headquartered in Zurich.
Forward-Looking Statements
This press release contains certain statements that may include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, included herein are "forward-looking statements." Although the Fund and the Adviser believe the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Fund's reports that are filed with the SEC. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required by law, the Fund and the Adviser do not assume a duty to update any forward-looking statement.
Risks of Investing in Closed-End Funds
Shares of many closed-end funds frequently trade at a discount from their asset value. Funds are subject to stock market risk, which is the risk that stock prices overall will decline over short or long periods, adversely affecting the value of an investment in a fund. There is no assurance that the Fund will achieve its investment objective. Past performance does not guarantee future results.
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SOURCE UBS Asset Management (Americas) LLC
