On May 8, 2014, Brigade Capital Management, LLC announced that it has had discussions with representatives of PIMCO Income Strategy Fund II and its sub-advisor regarding financing alternatives and a possible tender offer by the Company for the shares. During these discussions, in order to meet a deadline imposed by the Company's bylaws, Brigade Capital notified the secretary of the Company of its intention to nominate 1 individual for election to the Company's board of trustees at the next annual meeting of the Company's shareholders. Subsequent to the notification, Brigade Capital entered into a confidentiality agreement with the Company's investment manager and the Company's sub-advisor as part of the on-going discussions, which provides, among other things, that Brigade Capital has agreed to withdraw and suspend this nomination during a two-week period, subject to a possible later resubmission.