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 from 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

Pimco New York Municipal Income Fund III

Bullboard Posts

Comment by bugoffon Dec 09, 2012 7:49pm

157 Views

Post# 20705803

RE: I want to make things clearer

But Ace, INT doesn't HAVE to BUY PYN, they have a secured position against it. Unless someone comes up with a lot of cash to buy out the secured debtors, the courts and anyone else in the first row, INT will get the IP to cover the loan.

At thins point (IMHO) I believe that INT would be happy to get their $1.5 million back... they are not going to get into a bidding war with anyone else to buy PYN.

Besides, if there was ever going to be any interest in PYN's assets, it would have come in a bid through the past process.

This is all but said and done... you seem to be the only one who doesn't know it yet.

Bullboard Posts

Telesat secures $2.54B government funding for Lightspeed satellites