Eaton Vance municipal closed-end funds to redeem preferred shares

By Sarah Lizee

Olympia, Wash., June 1 – Several Eaton Vance municipal closed-end funds announced that their respective boards of trustees have approved proposals to redeem all outstanding Institutional MuniFund Term preferred shares.

The following series 2019 preferred shares will be redeemed on June 14, according to N-23C-2 filings with the Securities and Exchange Commission:

• Eaton Vance New York Municipal Bond Fund II will redeem 230 preferred shares;

• Eaton Vance New York Municipal Income Trust will redeem 512 preferred shares;

• Eaton Vance Massachusetts Municipal Bond Fund will redeem 224 preferred shares;

• Eaton Vance Massachusetts Municipal Income Trust will redeem 336 preferred shares;

• Eaton Vance Michigan Municipal Income Trust will redeem 171 preferred shares;

• Eaton Vance Michigan Municipal Bond Fund will redeem 150 preferred shares;

• Eaton Vance Pennsylvania Municipal Bond Fund will redeem 491 preferred shares;

• Eaton Vance Pennsylvania Municipal Income Trust will redeem 418 preferred shares;

• Eaton Vance Ohio Municipal Bond Fund will redeem 283 preferred shares;

• Eaton Vance Ohio Municipal Income Trust will redeem 357 preferred shares;

• Eaton Vance New Jersey Municipal Income Trust will redeem 69 preferred shares;

• Eaton Vance New Jersey Municipal Bond Fund will redeem 41 preferred shares;

• Eaton Vance California Municipal Income Trust will redeem 1,024 preferred shares; and

• Eaton Vance Municipal Bond Fund II, Eaton Vance Municipal Income Trust and Eaton Vance California Municipal Bond Fund II were also approved to redeem all of their outstanding Institutional MuniFund Term preferred shares, according to a press release.

According to the release, it is anticipated that upon redemption the leverage provided by the preferred shares would be replaced through the creation of residual interest bonds.

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

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