New Issue: BNY funds sell $158.4 million variable rate MuniFund term preferreds

By Wendy Van Sickle

Columbus, Ohio, July 13 – Three BNY Mellon funds sold $158.4 million of variable rate MuniFund term preferred shares, according to a press release from BNY Mellon Investment Adviser, Inc., the adviser for each fund.

BNY Mellon Municipal Income, Inc., BNY Mellon Strategic Municipal Bond Fund, Inc. and BNY Mellon Strategic Municipals, Inc. sold $30,225,000, $49.3 million and $78.9 million, respectively, of the variable rate MuniFund term preferreds to a qualified institutional buyer as defined in Rule 144A under the Securities Act of 1933.

The adviser is part of BNY Mellon Investment Management, an asset manager with $1.9 trillion in assets under management as of March 31.

Issuer:	BNY Mellon Investment Adviser
Description:	Variable rate MuniFund term preferred shares
Amount:	$158,425,000
Pricing date:	July 12
Distribution:	Rule 144A
Issuer:	BNY Mellon Municipal Income, Inc.
Amount:	$30,225,000
Issuer:	BNY Mellon Strategic Municipal Bond Fund, Inc.
Amount:	$49.3 million
Issuer:	BNY Mellon Strategic Municipals Inc.
Amount:	$78.9 million

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