RiverNorth Opportunities Fund, Inc. Issues Mandatory Redeemable Preferred Shares
WEST PALM BEACH, Fla.--(BUSINESS WIRE)--RiverNorth Opportunities Fund, Inc. (NYSE: RIV) (the “Fund”) has closed a $75 million private offering of Series B Mandatory Redeemable Preferred Shares, due September 18, 2031 (the “MRPS”). The MRPS are rated A1 by Moody’s Ratings. Net proceeds from the offering of the MRPS will be used primarily to refinance the Fund's existing debt and to make new portfolio investments. The table below sets forth the key terms of the MRPS issued. Series Amount ($ MM)