First Opportunity Fund, Inc. Announces Line of Credit and Use of Leverage

BOULDER, Colo.--(BUSINESS WIRE)--First Opportunity Fund, Inc. (OTC: FOFI) (the “Fund”) announced today that it has entered into a committed secured credit facility agreement with BNP Paribas Prime Brokerage, Inc. ("BNP"), which currently has a maximum commitment amount of $30 million (the “Credit Facility”). The Fund will use the Credit Facility as leverage and may seek to increase the commitment amount from time to time, depending on the Fund’s ability to satisfy BNP’s asset coverage requiremen a style='f