Invesco, Ltd. announced it has successfully completed the initial public offering of the Invesco High Income 2023 Target Term Fund. The new closed-end fund raised $216 million (or 21,600,000 common shares at a price of $10.00 per share) in its common share offering, excluding any exercise of the underwriters' option to purchase additional common shares. If the underwriters exercise that option in full, the fund will have raised approximately $248 million before paying the sales load and offering costs.

The Invesco High Income 2023 Target Term Fund's investment objectives are to seek to provide a high level of current income and to return $9.835 per share to holders of common shares on or about Dec. 1, 2023. The fund seeks to achieve its investment objectives by primarily investing in securities collateralized by loans secured by real properties. The fund began trading on the New York Stock Exchange on November 28, 2016, under the symbol IHIT.

Invesco Advisers, the fund's investment adviser is responsible for the fund's overall investment strategy and its implementation, including the use of leverage.  The lead managers of the underwriting syndicate were Morgan Stanley & Co. LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Wells Fargo Securities, LLC.