Eaton Vance Municipal to redeem $10 million auction preferreds

By Susanna Moon

Chicago, Dec. 12 - Eaton Vance Municipal Income Trust announced the voluntary redemption of a portion of its outstanding auction preferred shares to reduce the amount of the fund's financial leverage.

The redemption will occur at the liquidation preference of $25,000 per share plus accrued dividends as of the redemption date.

The fund is expected to redeem 197 shares of the series A preferreds on Dec. 17 at a liquidation preference of $4.925 million and 197 shares of the series B preferreds on Dec. 19 at a liquidation preference of $4.925 million.

The fund is managed by Eaton Vance Management, a subsidiary of Eaton Vance Corp., based in Boston.

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