BOSTON, Dec. 3, 2015 /PRNewswire/ -- Each of the Eaton
Vance municipal income closed-end funds listed below (each, the
"Fund" and, collectively, the "Funds") announced the expiration and
preliminary results of its tender offer for 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").
Each Fund's Tender Offer expired at 5:00
p.m. Eastern Time on December
2, 2015. All shares that were validly tendered and not
withdrawn during the offering period have been preliminarily
accepted for payment. Completion of 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 Fund's Offer to Purchase and
the related Letter of Transmittal (the "Offer Documents").
Based upon current information, each Fund has preliminarily
accepted APS for payment 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%
|
The number of shares to be repurchased by each Fund is subject
to adjustment and should not be regarded as final. Payment
for each Fund's tendered APS is expected to be made on or about
December 11, 2015, contingent upon
the issuance of new preferred shares as described above. APS
that were not tendered remain outstanding.
This announcement is not a recommendation, an offer to purchase
or a solicitation of an offer to sell shares of any Fund. 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 as exhibits to a tender offer statement on
Schedule TO and available free of charge at www.sec.gov.
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-expiration-and-preliminary-results-of-auction-preferred-shares-tender-offers-300187912.html
SOURCE Eaton Vance Management