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Delaware Investments closed-end funds to redeem preferreds
By Cristal Cody
Tupelo, Miss., Oct. 21 - Delaware Investments said Tuesday that it plans to redeem additional preferred shares from two closed-end funds later this month.
Delaware Investments Colorado Municipal Income Fund Inc. and Delaware Investments Minnesota Municipal Income Fund II Inc. expect a second redemption at par of a portion of each fund's outstanding preferreds.
The Colorado fund plans to redeem shares from series A and B on Oct. 29, leaving only 9% of preferreds outstanding.
The Minnesota fund intends to redeem preferreds from series B on Oct. 29 and from series A, C and D on Oct. 31.
After these redemptions, the Minnesota fund will have redeemed 78% of outstanding preferreds.
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