ATLANTA, June 14, 2019 /PRNewswire/ -- Invesco
Advisers, Inc., a subsidiary of Invesco Ltd. (NYSE: IVZ), announced
today plans for tender offers for Invesco Dynamic Credit
Opportunities Fund (NYSE: VTA), Invesco High Income Trust II (NYSE:
VLT) and Invesco Senior Income Trust (NYSE: VVR) (each, a "Fund"
and collectively, the "Funds").
Invesco Dynamic Credit Opportunities Fund's Board of Trustees
has approved the commencement (subject to certain conditions) prior
to January 1, 2020, of a cash tender
offer for up to 15% of the Fund's outstanding common shares of
beneficial interest at a price per share equal to 98.5% of the
Fund's net asset value ("NAV") per share.
Invesco High Income Trust II's Board of Trustees has approved
the commencement (subject to certain conditions) prior to
January 1, 2020, of a cash tender
offer for up to 20% of the Fund's outstanding common shares of
beneficial interest at a price per share equal to 98.5% of the
Fund's NAV per share.
Invesco Senior Income Trust's Board of Trustees has approved the
commencement (subject to certain conditions) prior to January 1, 2020, of a cash tender offer for up to
15% of the Fund's outstanding common shares of beneficial interest
at a price per share equal to 98.5% of the Fund's NAV per
share.
Each Fund will repurchase shares tendered and accepted in the
respective tender offer in exchange for cash. In the event
any tender offer is oversubscribed, shares will be repurchased on a
pro rata basis. The commencement of the tender offers is
pursuant to agreements between each Fund and Saba Capital
Management, L.P. ("Saba") and certain associated parties. Pursuant
to the agreements, Saba has agreed to be bound by certain
standstill covenants.
The Funds have been advised that Saba will file copies of the
agreements with the U.S. Securities and Exchange Commission ("SEC")
as exhibits to its Schedule 13D.
TENDER OFFER STATEMENT
The above statements are not intended to constitute an offer to
participate in the tender offers. Information about the tender
offers, including their commencement, will be announced via future
press releases. Shareholders will be notified in accordance with
the requirements of the Securities Exchange Act of 1934, as
amended, and the Investment Company Act of 1940, as amended, either
by publication or mailing or both. The tender offers will be made
only by an offer to purchase, a related letter of transmittal, and
other documents to be filed with the SEC. Shareholders of the Funds
should read the respective offer to purchase and tender offer
statement and related exhibits when those documents are filed and
become available, as they will contain important information about
the tender offers. These and other filed documents will be
available to investors for free both at the website of the SEC and
from the Funds.
For more information, call 1-800-341-2929.
About Invesco Ltd.
Invesco is an independent
investment management firm dedicated to delivering an investment
experience that helps people get more out of life. NYSE: IVZ;
www.invesco.com.
Invesco Distributors, Inc. is the U.S. distributor for Invesco
Ltd.'s retail products. Invesco Advisers, Inc. is an investment
adviser; it provides investment advisory services to individual and
institutional clients and does not sell securities. Each
entity is a wholly owned, indirect subsidiary of Invesco Ltd.
Note: There is no assurance that a closed-end fund will
achieve its investment objective. Common shares are bought on the
secondary market and may trade at a discount or premium to NAV.
Regular brokerage commissions apply.
NOT FDIC INSURED l MAY LOSE VALUE l NO BANK
GUARANTEE
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SOURCE Invesco Ltd.