NEW
YORK, Aug. 15, 2022 /PRNewswire/
-- Neuberger Berman Municipal Fund Inc. (NYSE American:
NBH), Neuberger Berman California Municipal Fund Inc. (NYSE
American: NBW), and Neuberger Berman New York Municipal Fund Inc.
(NYSE American: NBO) (each a "Fund" and collectively, the "Funds")
each announced today that it has redeemed a portion of its
outstanding Variable Rate Municipal Term Preferred Shares ("VMTP
Shares"). The redemption price for the VMTP Shares was the
$100,000 liquidation preference per
share plus the final accumulated distribution amounts owed.
Neuberger Berman Municipal Fund Inc. redeemed 47 VMTP Shares and
has 1,657 VMTP Shares outstanding. Neuberger Berman California
Municipal Fund Inc. redeemed 38 VMTP Shares and has 512 VMTP Shares
outstanding. Neuberger Berman New York Municipal Fund Inc. redeemed
43 VMTP Shares and has 420 VMTP Shares outstanding.
The Funds have not registered any VMTP Shares under the
Securities Act of 1933, as amended (the "Securities Act"), or any
state securities laws. Unless so registered, no VMTP Shares may be
offered or sold in the United
States except pursuant to an exemption from the registration
requirements of the Securities Act and applicable state securities
laws. The holder of the VMTP Shares has a right to require the
Funds to register the VMTP Shares under certain circumstances. This
press release is neither an offer to sell nor a solicitation of an
offer to buy any of these securities.
About Neuberger Berman
Neuberger Berman, founded in 1939, is a private, independent,
employee-owned investment manager. The firm manages a range of
strategies—including equity, fixed income, quantitative and
multi-asset class, private equity, real estate and hedge funds—on
behalf of institutions, advisors and individual investors globally.
With offices in 25 countries, Neuberger Berman's diverse team has
over 2,500 professionals. For eight consecutive years, the company
has been named first or second in Pensions & Investments Best
Places to Work in Money Management survey (among those with 1,000
employees or more). In 2020, the PRI named Neuberger Berman a
Leader, a designation awarded to fewer than 1% of investment firms
for excellence in Environmental, Social and Governance (ESG)
practices. The PRI also awarded Neuberger Berman an A+ in every
eligible category for our approach to ESG integration across asset
classes. The firm manages $418
billion in client assets as of June
30, 2022. For more information, please visit our website at
www.nb.com.
Statements made in this release that look forward in time
involve risks and uncertainties. Such risks and uncertainties
include, without limitation, the adverse effect from a decline in
the securities markets or a decline in the Fund's performance, a
general downturn in the economy, competition from other closed end
investment companies, changes in government policy or regulation,
inability of the Fund's investment adviser to attract or retain key
employees, inability of the Fund to implement its investment
strategy, inability of the Fund to manage rapid expansion and
unforeseen costs and other effects related to legal proceedings or
investigations of governmental and self-regulatory
organizations.
Contact:
Neuberger
Berman Investment Advisers LLC
Investor
Information
(877) 461-1899
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SOURCE Neuberger Berman