NexPoint Credit Strategies Fund Announces the Successful Completion and Significant Oversubscription of its Rights Offering

DALLAS, May 30, 2017 /PRNewswire/ -- NexPoint Credit Strategies Fund (NYSE: NHF) (the "Fund") is pleased to announce the successful completion of its non-transferable rights offering (the "Offer"). Total subscriptions were equal to 233% of the primary offering. James Dondero, NexPoint President and Portfolio Manager to the Fund, stated, "We are pleased with the material over subscription and investor support consistent with top decile performance we have delivered over the past five years¹."

The Offer commenced on May 8, 2017 and expired on May 24, 2017 (the "Expiration Date"). The Offer entitled rights holders to subscribe for up to an aggregate of 5,346,306 of the Fund's common shares (the "Shares"). Pursuant to the Offer, the Fund issued one non-transferable right (a "Right") for each common share of the Fund to shareholders of record as of May 5, 2017 ("Record Date Shareholders"). Holders of Rights were entitled to purchase one newly issued Share for every three Rights held. The subscription price for each Share issued pursuant to the Offer was $20.93, which represented 95% of the average of the last reported sales price of the Fund's common shares on the NYSE on the Expiration Date and on each of the four trading days preceding the Expiration Date.

Preliminary results indicate that the Fund received total subscriptions for Shares totaling approximately $269 million (including over-subscription requests and notices of guaranteed delivery), representing 233% of the 5,346,306 Shares available to be issued pursuant to the primary subscription. Over-subscription requests exceeded the over-subscription shares available and the 1,336,576 additional Shares available pursuant to the exercise of an over-allotment option (the "Secondary Subscription Shares"). The over-subscription shares and Secondary Subscription Shares will be allocated pro-rata among those Record Date Shareholders who over-subscribed based on the number of common shares of the Trust owned by such Shareholders on May 5, 2017, the Record Date. Confirmation as to the amount of Shares received by each participating Rights holder will be sent by the Subscription Agent on or about June 1, 2017.

We thank all of our subscribing shareholders, as well as the full service brokers and financial advisors, who assisted our shareholders during the Offer.

About NexPoint Credit Strategies Fund
NexPoint Credit Strategies Fund is a closed-end fund managed by NexPoint Advisors, L.P. The Fund's investment objectives are to provide both current income and capital appreciation. The Fund is invested primarily in below investment grade debt and equity securities and has the ability to hedge risk. The Fund's investment adviser attempts to deliver consistent returns in excess of the Dow Jones Credit Suisse Hedge Fund and the HFRX Global Hedge Fund indices in a transparent, registered fund format consistent with monthly dividends. No assurance can be given that the Fund will achieve its investment objectives.

Shares of closed-end investment companies frequently trade at a discount to net asset value. The price of the Fund's shares is determined by a number of factors, several of which are beyond the control of the Fund. Therefore, the Fund cannot predict whether its shares will trade at, below or above net asset value. Past performance does not guarantee future results.

Investors should consider the investment objectives, risks, charges and expenses of the NexPoint Credit Strategies Fund carefully before investing. This and other information can be found in the Fund's prospectuses, which may be obtained by calling 1-866-351-4440 or visiting  www.nexpointadvisors.com . Please read the prospectus carefully before you invest.

Total operating expenses as of the most recent fund annual report are 2.17%. Performance data represents past performance, which does not guarantee future results. Current performance may be higher or lower than the figures shown. Investment return and principal value will fluctuate with market conditions, and you may have a gain or loss when you sell your shares.  For most recent month-end performance please visit  www.nexpointadvisors.com  or call 866-351-4440.

As of May 26, 2017, the NexPoint Credit Strategies Fund had a price return of 20.69%, 4.03%, 18.79% and 4.44% over the last 1 year, 3 year, 5 year and 10 year periods. The NexPoint Credit Strategies Fund's percentile ranking based on price return for the 1-year period was 29^th percentile among 8 funds in the Morningstar Tactical Allocation category. The Fund's percentile ranking based on price return for the 5-year period was 1^st percentile among 7 funds in the Morningstar Tactical Allocation category. The Fund's percentile ranking based on price return for the 10-year period was 67^th percentile among 7 funds in the Morningstar Tactical Allocation category.

MEDIA CONTACT: 
Lucy Bannon
lbannon@highlandcapital.com  
+1 972-419-6272

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/nexpoint-credit-strategies-fund-announces-the-successful-completion-and-significant-oversubscription-of-its-rights-offering-300465570.html

SOURCE NexPoint Credit Strategies Fund