BOSTON, Dec. 11, 2015 /PRNewswire/ -- Each of the Eaton Vance municipal income closed-end funds listed below (each, a "Fund" and, collectively, the "Funds") announced the final results of its tender offer ending December 2, 2015 to repurchase up to 100% of its outstanding auction preferred shares ("APS") at a price per share equal to 95.5% of the APS liquidation preference of $25,000 per share (or $23,875 per share), plus any accrued but unpaid APS dividends (the "Tender Offer"). All shares that were validly tendered and not withdrawn during the offering period have been accepted for payment. APS that were not tendered will remain outstanding.
The APS being repurchased by each Fund are as follows:
|
Ticker Symbol
|
Fund
|
Series
|
Cusip
|
APS
Tendered
|
% of Outstanding
|
|
EIA
|
Eaton Vance California Municipal Bond Fund II
|
A
|
27828C205
|
992
|
96%
|
|
MAB
|
Eaton Vance Massachusetts Municipal Bond Fund
|
A
|
27828K207
|
518
|
95%
|
|
MIW
|
Eaton Vance Michigan Municipal Bond Fund
|
A
|
27828M203
|
421
|
79%
|
|
EIV
|
Eaton Vance Municipal Bond Fund II
|
A
|
27827K208
|
832
|
93%
|
|
B
|
27827K307
|
766
|
86%
|
|
EMJ
|
Eaton Vance New Jersey Municipal Bond Fund
|
A
|
27828R202
|
695
|
89%
|
|
NYH
|
Eaton Vance New York Municipal Bond Fund II
|
A
|
27828T208
|
460
|
87%
|
|
EIO
|
Eaton Vance Ohio Municipal Bond Fund
|
A
|
27828L205
|
590
|
87%
|
|
EIP
|
Eaton Vance Pennsylvania Municipal Bond Fund
|
A
|
27828W201
|
818
|
94%
|
Each Fund also announced today that it has successfully completed the private placement of new variable-rate preferred shares with a liquidation preference of $25,000 per share. For each Fund, the number of new preferred shares issued equals the APS accepted for payment pursuant to the Tender Offer.
This announcement is not a recommendation, an offer to purchase or a solicitation of an offer to sell shares of any Fund.
The Funds are managed by Eaton Vance Management, a subsidiary of Eaton Vance Corp. (NYSE: EV). Eaton Vance is one of the oldest investment management firms in the United States, with a history dating back to 1924. Eaton Vance and its affiliates managed $311.4 billion in assets as of October 31, 2015, offering individuals and institutions a broad array of investment strategies and wealth management solutions. For more information about Eaton Vance, visit www.eatonvance.com.
Fund shares are subject to investment risk, including possible loss of principal invested. No Fund is a complete investment program and you may lose money investing in a Fund. An investment in a Fund may not be appropriate for all investors. Additional information about the Funds, including performance and portfolio characteristic information, is available at www.eatonvance.com.
Statements in this press release that are not historical facts are forward-looking statements as defined by the United States securities laws. You should exercise caution in interpreting and relying on forward-looking statements because they are subject to uncertainties and other factors which are, in some cases, beyond a Fund's control and could cause actual results to differ materially from those set forth in the forward-looking statements.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/eaton-vance-municipal-income-closed-end-funds-announce-final-results-of-auction-preferred-shares-tender-offers-and-issuance-of-new-preferred-shares-300191955.html
SOURCE Eaton Vance Closed-End