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Pimco New York Municipal Income Fund III V.PYN


Primary Symbol: PYN

PIMCO New York Municipal Income Fund III (the Fund) is a non-diversified closed-end management investment company. The Fund's primary investment objective is to seek to provide current income exempt from federal and California income tax. Under normal circumstances, the Fund invests at least 90% of its net assets in municipal bonds which pay interest that is exempt from regular federal, New York State and New York City income. The Fund may invest up to 20% of its total assets in investments, the interest on which is subject to the federal alternative minimum tax. The Fund also invests at least 80% of its net assets in municipal bonds that at the time of investment are investment grade quality. Pacific Investment Management Company LLC (PIMCO) serves as the Fund's investment manager.


NYSE:PYN - Post by User

Post by Meekyon Nov 06, 2012 1:57pm
354 Views
Post# 20568569

Shareholder's Money

Shareholder's Money

Could somebody please clarify as to how much Poynt is worth and what the debt owing is?  I just spoke with Mark Kelly from Hardie & Kelly Law firm; he said that Poynt is about thirteen million in debt and others on this board have been stating over twenty million.  I asked him how much Poynt could be sold for and he didn't really comment, but I told him that AO had been saying it is worth over fifty million, so there is a lot of confusion out there. I am hoping somebody can give some clarification as to how much we can expect back as shareholders.  From what I gathered, if Poynt can be sold for at least twenty five million minus the debt of fifteen million than that should leave us with about ten million or .02 cents share.  Opinions please!

Meeky

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