BOSTON, Oct. 22, 2015 /PRNewswire/ -- Each of the Eaton
Vance municipal income closed-end funds listed below (each, the
"Fund" and, collectively, the "Funds") announced today that it has
commenced a tender offer (the "Tender Offer") to purchase 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, as described in the Fund's Offer to Purchase and the
related Letter of Transmittal ("Offer Documents"). Each
Fund's Tender Offer is scheduled to expire at 5:00 p.m. eastern time on Wednesday, December 2, 2015, but may be extended.
If a Fund's Tender Offer is extended beyond December 2, 2015, a press release will be issued
providing notice of the extension.
Fund
|
Ticker
Symbol
|
Eaton Vance
California Municipal Bond Fund II
|
EIA
|
Eaton Vance
Massachusetts Municipal Bond Fund
|
MAB
|
Eaton Vance Michigan
Municipal Bond Fund
|
MIW
|
Eaton Vance Municipal
Bond Fund II
|
EIV
|
Eaton Vance New
Jersey Municipal Bond Fund
|
EMJ
|
Eaton Vance New York
Municipal Bond Fund II
|
NYH
|
Eaton Vance Ohio
Municipal Bond Fund
|
EIO
|
Eaton Vance
Pennsylvania Municipal Bond Fund
|
EIP
|
Each Fund's Tender Offer is conditional upon the Fund's issuance
of new preferred shares with an aggregate liquidation preference at
least equal to the aggregate liquidation preference of the tendered
APS and certain other conditions as set forth in the Offer
Documents. The complete terms and conditions of each Fund's Tender
Offer are set forth in the Offer Documents as filed with the
Securities and Exchange Commission ("SEC") and distributed to APS
holders.
If you have questions about a Fund's Tender Offer and hold its
APS through a broker or other nominee holder, you can call your
broker or other nominee holder directly. You may also call
AST Fund Solutions LLC, the Funds' Tender Offer information agent,
toll free at (866) 207-2356 with any questions.
This announcement is not a recommendation, an offer to purchase
or a solicitation of an offer to sell shares of any Fund. Each
Fund's Tender Offer will be made only by an Offer to Purchase, a
related Letter of Transmittal and other related documents, which
will be filed with the SEC as exhibits to a tender offer statement
on Schedule TO and available free of charge at www.sec.gov. Each
Fund will also make available, without charge, the Offer to
Purchase and the Letter of Transmittal. Each Fund's APS
holders should read these documents and related exhibits, as they
contain important information about each Fund's Tender Offer.
The Funds are managed by Eaton Vance Management, a subsidiary of
Eaton Vance Corp. (NYSE: EV). Based in Boston, 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 $298.9 billion
in assets as of September 30, 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.
The common shares of closed-end funds often trade at a
discount to their net asset value per share ("NAV"). The
market price of a Fund's common shares can be affected by changes
in NAV and Fund distributions, fluctuations in supply and demand
for the shares, changing perceptions about the Fund and other
market factors. 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-tender-offers-for-outstanding-auction-preferred-shares-300165001.html
SOURCE Eaton Vance Corp.