Calamos Announces Redemption Dates of Auction Rate Preferred Securities for Calamos Global Dynamic Income Fund
NAPERVILLE, Ill., May 6, 2008-- Calamos Investments
today announced the auction rate preferred securities redemption dates for the
Calamos Global Dynamic Income Fund (NYSE: CHW). As announced last week,
Calamos has secured an alternative form of borrowing that will enable, based
on current market conditions, CHW to redeem approximately 85.7% or $300
million of its outstanding ARPs.
The redemption amounts and dates are as follows:
CHW Shares Redemption Redemption Redemption
Auction Series Outstanding Percent Amount Date
Monday 2,800 85.7 % $60,000,000 May 19, 2008
Tuesday 2,800 85.7 % $60,000,000 May 20, 2008
Wednesday 2,800 85.7 % $60,000,000 May 21, 2008
Thursday 2,800 85.7 % $60,000,000 May 22, 2008
Friday 2,800 85.7 % $60,000,000 May 23, 2008
Additional information regarding the redemptions will be discussed on a
conference call to be held today at 12:00 pm ET/11:00 am CT. The conference
call is accessible by dialing one of the following numbers:
Participant Dial-in:
*US/Canada Dial-in #: 800.379.3942
*Int'l/Local Dial-in #: 706.679.7206
Conference ID #: 46468685
You may also listen online: http://audioevent.mshow.com/344398/
Following the call, a replay will be available beginning at 3:00 pm
ET/2:00 pm CT. To access the telephone replay, call the number listed below
and provide the conference ID number:
Replay info: Encore Dial-in #: (800) 642-1687 or (706) 645-9291
Encore Dates: 05/06/2008 - 05/16/2008 (end of day)
Conference ID #: 46468685
About Calamos
Calamos Investments is a diversified investment firm offering equity,
fixed-income, convertible and alternative investment strategies, among others.
The firm serves institutions and individuals via separately managed accounts
and a family of open-end and closed-end funds, providing a risk-managed
approach to capital appreciation and income-producing strategies. For more
information, visit: http://www.calamos.com/closedendfunds/default.aspx.
From time to time, information or statements provided by us, including
those within this news release, may contain certain forward-looking statements
relating to future events, future transactions, future financial performance,
future potential costs, expectations, the competitive and regulatory
environment and future market conditions. Forward-looking statements are based
on information available at the time those statements are made and/or
management's good faith belief as of that time with respect to future events,
and are subject to risks and uncertainties that could cause actual performance
or results to differ materially from those expressed in or suggested by the
forward-looking statements. Such risks and uncertainties include, but are not
limited to: catastrophic or unpredictable events, changing costs of leverage,
strategy implementation obstacles, fluctuations in the financial markets and
the competitive conditions in the fund, asset management and broader financial
services sectors and other risks inherent in the financial and trading
markets, including liquidity issues.
SOURCE: Calamos Investments
CONTACT: Ken Fincher, Vice President of Calamos Advisors LLC,
+1-630-245-1076, kfincher@calamos.com
Web site: http://www.calamos.com