Dreyfus Municipal Bond Closed-End Funds Announce Final Results of Issuer Tender Offers for Outstanding Auction Rate Preferred...
March 02 2018 - 5:59PM
Business Wire
The Dreyfus Corporation and each of the Dreyfus municipal bond
closed-end funds listed below (each, the "Fund" and collectively,
the "Funds") announced today the final results of the previously
announced issuer tender offer (each, a "Tender Offer") to purchase
up to 100% of the Fund's outstanding auction rate preferred stock
("ARPS") at a price per share equal to 95% of the liquidation
preference of $25,000 per share (or $23,750 per share), plus any
unpaid ARPS dividends accrued through the expiration date of each
Tender Offer. The Funds' Tender Offers expired on February 28, 2018
at 5:00 p.m. Eastern Standard Time. All ARPS that were validly
tendered and not withdrawn during the offering period have been
accepted for payment. ARPS that were not tendered will remain
outstanding.
The ARPS being repurchased by each Fund are as follows:
TickerSymbol
Fund Series
Cusip
ARPSTendered
% ofOutstanding
LEO Dreyfus Strategic Municipals, Inc.
M 261932206
377 33.07% LEO Dreyfus
Strategic Municipals, Inc. T
261932305 393
34.47% LEO Dreyfus Strategic Municipals, Inc.
W 261932404
480 42.11% LEO
Dreyfus Strategic Municipals, Inc. TH
261932503 574
50.35% LEO Dreyfus Strategic
Municipals, Inc. F
261932602 720 63.16% DSM
Dreyfus Strategic Municipal Bond Fund, Inc.
A 26202F206
542 43.71% DSM
Dreyfus Strategic Municipal Bond Fund, Inc. B
26202F305 578
46.61% DSM Dreyfus Strategic
Municipal Bond Fund, Inc. C
26202F404 628
50.65% DMF Dreyfus Municipal Income, Inc.
A 26201R201
384 38.40% DMF
Dreyfus Municipal Income, Inc. B
26201R300 407
40.70%
As disclosed in each Fund's Offer to Purchase and the related
Letter of Transmittal, completion of the Tender Offers is
conditional upon the Fund's creation of tender option bonds
("TOBs") on terms satisfactory to the Fund. Payment for each Fund's
tendered ARPS is expected to be made, upon the issuance of such
TOBs, on or about March 9, 2018.
This announcement is for informational purposes only and is not
a recommendation, an offer to purchase or a solicitation of an
offer to sell shares of any Fund.
The Dreyfus Corporation, a wholly-owned subsidiary of The Bank
of New York Mellon Corporation, serves as each Fund's investment
adviser. The Dreyfus Corporation was established in 1947 and is
headquartered in New York City. Additional information is available
at www.im.bnymellon.com.
This press release is not a prospectus, circular or
representation intended for use in the purchase or sale of Fund
shares. Statements in this press release that are not historical
facts are forward-looking statements. Such forward-looking
statements represent the Funds' current plans based on information
available at the time the statements are made. 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. The Funds, The Dreyfus Corporation, and
any of their affiliates, directors, employees or agents undertake
no responsibility to update publicly or revise any forward-looking
statements.
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version on businesswire.com: http://www.businesswire.com/news/home/20180302005786/en/
For Press Inquiries:The Dreyfus CorporationBenjamin Tanner(212)
635-8676orFor Other Inquiries:MBSC Securities CorporationThe
National Marketing Desk200 Park AvenueNew York, New York
101661-800-334-6899
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