MFS High Income Municipal Trust and MFS High Yield Municipal Trust Announce Optional Partial Redemption of Preferred Shares
October 28 2022 - 4:15PM
Business Wire
MFS® High Income Municipal Trust (NYSE: CXE) and MFS® High Yield
Municipal Trust (NYSE: CMU) announced today that each fund will
complete an optional partial redemption of its Remarketable
Variable Rate MuniFund Term Preferred Shares, Series 2051 ("Series
2051 RVMTP Shares") on November 28, 2022 (the “Redemption
Date”).
On the Redemption Date, CXE will redeem up to 110 of the 975
Series 2051 RVMTP Shares at a redemption price equal to the
liquidation preference of $100,000 per share plus unpaid dividends
and other distributions accumulated from the original issue date
to, but excluding, the Redemption Date. Additionally, on the
Redemption Date, CMU will redeem up to 50 of the 750 Series 2051
RVMTP Shares at a redemption price equal to the liquidation
preference of $100,000 per share plus unpaid dividends and other
distributions accumulated from the original issue date to, but
excluding, the Redemption Date. The redemption of a portion of each
fund’s Series 2051 RVMTP Shares will reduce the amount of each
fund's leverage attributable to preferred shares.
All regulatory requirements relating to the redemption of each
fund’s Series 2051 RVMTP Shares have been satisfied by MFS
Investment Management. The Tender and Paying Agent is The Bank of
New York Mellon and its address is: 101 Barclay Street, Floor 7E,
New York, New York 10286. Payment of the redemption price for each
fund's Series 2051 RVMTP Shares will be sent to the holder by the
Tender and Paying Agent on the Redemption Date.
Cautionary Statement Regarding
Forward-Looking Statements
This press release may contain statements regarding plans and
expectations for the future that constitute forward-looking
statements within The Private Securities Litigation Reform Act of
1995. All statements other than statements of historical fact are
forward-looking and can be identified by the use of words such as
"may," "will," "expect," "anticipate," "estimate," "believe,"
"continue," or other similar words. Such forward-looking statements
are based on the funds' current plans and expectations, are not
guarantees of future results or performance, and are subject to
risks and uncertainties that could cause actual results to differ
materially from those described in the forward-looking statements.
All forward-looking statements are as of the date of this release
only; the funds undertake no obligation to update or review any
forward-looking statements. You are urged to carefully consider all
such factors.
About the Funds
MFS® High Income Municipal Trust and MFS® High Yield Municipal
Trust are closed-end investment company products advised by MFS
Investment Management. Closed-end funds, unlike open-end funds, are
not continuously offered. There is a one-time public offering and
once issued, common shares of the funds are bought and sold in the
open market through a stock exchange. Shares may trade at a
discount to the net asset value per share. Shares of the funds are
not FDIC-insured and are not deposits or other obligations of, or
guaranteed by, any bank. Shares of the funds involve investment
risk, including possible loss of principal.
About MFS Investment
Management®
In 1924, MFS® launched the first US open-end mutual fund,
opening the door to the markets for millions of everyday investors.
Today, as a full-service global investment manager serving
financial advisors, intermediaries and institutional clients, MFS
still serves a single purpose: to create long term value for
clients by allocating capital responsibly. That takes our powerful
investment approach combining collective expertise, thoughtful risk
management and long-term discipline. Supported by our culture of
shared values and collaboration, our teams of diverse thinkers
actively debate ideas and assess material risks to uncover what we
believe are the best investment opportunities in the market. As of
September 30, 2022, MFS had approximately US$508.7 billion in
assets under management. Please visit mfs.com for more
information.
MFS Investment Management 111
Huntington Ave., Boston, MA 02199
52918.1
View source
version on businesswire.com: https://www.businesswire.com/news/home/20221028005454/en/
Dan Flaherty, +1 617.954.4256
MFS High Yield Municipal (NYSE:CMU)
Historical Stock Chart
From Jul 2024 to Aug 2024
MFS High Yield Municipal (NYSE:CMU)
Historical Stock Chart
From Aug 2023 to Aug 2024