Eaton Vance muni funds announce tender results for auction preferreds

By Wendy Van Sickle

Columbus, Ohio, Dec. 3 – Results were announced in each of eight Eaton Vance municipal income closed-end funds’ tender offer to purchase up to 100% of its outstanding auction preferred shares.

In a group of tender offers that expired at 5 p.m. ET on Wednesday, each fund offered to purchase the auction preferreds at a price per share equal to 95.5% of the liquidation preference of $25,000 per share, or $23,875 per share, plus any accrued dividends.

According to a press release, the following amounts were tendered and were preliminarily accepted for payment:

• 992, or 96%, of the outstanding series A auction preferred shares of Eaton Vance California Municipal Bond Fund II (Symbol: EIA);

• 518, or 95%, of the outstanding series A auction preferred shares of Eaton Vance Massachusetts Municipal Bond Fund (Symbol: MAB);

• 421, or 79%, of the outstanding series A auction preferred shares of Eaton Vance Michigan Municipal Bond Fund (Symbol: MIW);

• 832, or 93%, of the outstanding series A and 766, or 86%, of the outstanding series B auction preferred shares of Eaton Vance Municipal Bond Fund II (Symbol: EIV);

• 695, or 89%, of the outstanding series A auction preferred shares of Eaton Vance New Jersey Municipal Bond Fund (Symbol: EMJ);

• 460, or 87%, of the outstanding series A auction preferred shares of Eaton Vance New York Municipal Bond Fund II (Symbol: NYH);

• 590, or 87%, of the outstanding series A auction preferred shares of Eaton Vance Ohio Municipal Bond Fund (Symbol: EIO); and

• 818, or 94%, of the outstanding series A auction preferred shares of Eaton Vance Pennsylvania Municipal Bond Fund (Symbol: EIP).

Each tender offer is conditioned on the fund’s issuance of new preferred shares with an aggregate liquidation preference at least equal to the aggregate liquidation preference of the tendered preferreds and some other conditions.

Payment is expected to take place on Dec. 11.

AST Fund Solutions LLC (866 207-2356) is the information agent.

The funds are managed by Eaton Vance Management, a subsidiary of Boston-based investment management firm Eaton Vance Corp.

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