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Eaton Vance muni funds launch tender offers for auction preferreds
By Marisa Wong
Morgantown, W.Va., Oct. 22 – Each of eight Eaton Vance municipal income closed-end funds has begun a tender offer to purchase up to 100% of its outstanding auction preferred shares, according to a press release.
Each fund is offering 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.
The following funds are tendering for their auction preferreds: Eaton Vance California Municipal Bond Fund II (Symbol: EIA), Eaton Vance Massachusetts Municipal Bond Fund (Symbol: MAB), Eaton Vance Michigan Municipal Bond Fund (Symbol: MIW), Eaton Vance Municipal Bond Fund II (Symbol: EIV), Eaton Vance New Jersey Municipal Bond Fund (Symbol: EMJ), Eaton Vance New York Municipal Bond Fund II (Symbol: NYH), Eaton Vance Ohio Municipal Bond Fund (Symbol: EIO) and Eaton Vance Pennsylvania Municipal Bond Fund (Symbol: EIP).
Each fund’s tender offer is scheduled to expire at 5 p.m. ET on Dec. 2.
If a fund’s tender offer is extended beyond Dec. 2, a press release will be issued giving notice of the extension.
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.
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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