NEW YORK, April 1, 2022 /PRNewswire/ -- The Swiss Helvetia Fund, Inc. (NYSE: SWZ), a non-diversified registered closed-end investment company (the "Fund"), announced today that it has entered into a secured credit agreement with U.S. Bank National Association that provides the fund with up to $15,000,000 of funding on a revolving basis, subject to a limit of 10% of the Fund's available assets. Borrowings under the agreement will be for general corporate purposes, including investment. The credit agreement contains customary representation and warranties and events of defaults for credit agreements of this type and is scheduled to mature March 29, 2023.  Borrowings under the credit agreement are secured by a lien on substantially all of the Fund's assets.

The credit agreement follows stockholder ratification at the Fund's 2021 annual meeting of stockholders of a non-binding proposal by the Fund's Board of Directors to ratify approval by stockholders in 2006 to permit the Fund to leverage up to 10% of the Fund's total assets (including the amount borrowed).  Using leverage is a speculative investment technique and involves certain risks. The Fund has not previously used leverage for investment purposes and there can be no assurance that any leverage strategy the Fund employs will be successful.

About The Swiss Helvetia Fund, Inc.

The Fund (www.swzfund.com) is a non-diversified, closed-end investment company seeking long-term capital appreciation through investment in equity and equity-linked securities of Swiss companies. Its shares are listed on the NYSE under the symbol "SWZ." The Fund seeks to achieve its investment objective by investing generally in Swiss equity and equity-linked securities that are traded on a Swiss stock exchange, traded at the pre-bourse level of one or more Swiss stock exchanges, traded through a market maker or traded over the counter in Switzerland. The Fund also may invest in Swiss equity and equity-linked securities of Swiss companies that are traded on other major European stock exchanges.

Closed-end funds, unlike open-end funds, are not continuously offered. Typically, shares of closed-end funds are sold in the open market through a stock exchange. Shares of closed-end funds 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.

The Fund is managed by Schroder Investment Management North America Inc.

About Schroder Investment Management North America Inc.

Schroder Investment Management North America Inc. and Schroder Investment Management North America Limited, investment advisors registered with the U.S. SEC, are units of Schroders plc (SDR.L), a global asset management company with approximately $990.9 billion in assets under management as of December 31, 2021. Schroder's clients include major financial institutions including banks and insurance companies, as well as local and public authorities, public and private pension funds, endowments and foundations, intermediaries and advisors, as well as high net worth individuals and retail investors. The firm has built one of the largest networks of offices of any dedicated asset management company with more than 500 portfolio managers and analysts covering the world's investment markets, offering a comprehensive range of products and services.

Schroder Investment Management North America Inc. provides asset management products and services to clients in the U.S. and Canada. Schroder Investment Management North America Inc. is an indirect, wholly-owned subsidiary of Schroders plc, a U.K. public company with shares listed on the London Stock Exchange.

This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of the Fund's shares in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction

Contact: 
Jennifer Brogadir
212-641-3863

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SOURCE The Swiss Helvetia Fund, Inc.