BOSTON, Dec. 17, 2019 /PRNewswire/ -- Eaton Vance
Municipal Bond Fund (NYSE American: EIM) (the "Fund") announced
today the final results of its tender offer for up to 5% or
3,986,326 of its outstanding common shares of beneficial
interest.
As previously announced, the tender offer expired at
5:00 P.M., Eastern Time on
December 13, 2019. In
accordance with the terms and conditions of the tender offer,
because the number of shares tendered exceeds the number of shares
offered to purchase, the Fund will purchase shares from tendering
shareholders on a pro-rata basis (disregarding fractional shares).
Following the purchase of the tendered shares, the Fund will have
approximately 75,740,194 shares of common stock outstanding.
The final results of the tender offer, based on a count by
American Stock Transfer & Trust Company, LLC, the depositary
for the tender offer, are provided in the table below:
Number of
Shares Tendered
|
Number of
Tendered Shares
to be Purchased
|
Pro-Ration
Factor*
|
Purchase Price**
|
Number of Outstanding
Shares after Giving Effect to
Tender Offer
|
24,509,363
|
3,986,326
|
16.2645200%
|
$13.6639
|
75,740,194
|
|
|
|
|
|
*Equal to the number
of tendered shares to be purchased divided by the number of shares
tendered.
|
|
**Equal to 98% of the
Fund's net asset value per share as of the close of regular trading
on the New York Stock Exchange (NYSE) on December 13, 2019 (the
date that the tender offer expired).
|
The Fund will purchase the common shares accepted for payment as
promptly as practicable. The information agent for the tender
offer is AST Fund Solutions, LLC. Any questions with regard to the
tender offer may be directed to the information agent toll-free at
877-283-0318.
About Eaton Vance Corp.
The Fund's investment adviser is Eaton Vance Management, a
subsidiary of Eaton Vance Corp. Eaton Vance Corp. (NYSE: EV)
provides advanced investment strategies and wealth management
solutions to forward-thinking investors around the world. Through
principal investment affiliates Eaton Vance Management, Parametric,
Atlanta Capital, Hexavest and Calvert, the Company offers a
diversity of investment approaches, encompassing bottom-up and
top-down fundamental active management, responsible investing,
systematic investing and customized implementation of
client-specified portfolio exposures. As of October 31, 2019, Eaton Vance had consolidated
assets under management of $497.4
billion.
For more information, visit eatonvance.com.
About the Fund
Except pursuant to a tender offer, common shares of the Fund are
available for purchase or sale only through secondary market
trading at their current market price. Shares of closed-end funds
(such as the Fund) often trade at a discount from their net asset
value. The market price of a closed-end fund's shares may vary from
net asset value based on factors affecting the supply and demand
for shares, such as fund distribution rates relative to similar
investments, investors' expectations for future distribution
changes, the clarity of the fund's investment strategy and future
return expectations, and investors' confidence in the underlying
markets in which the fund invests. Fund shares are subject to
investment risk, including possible loss of principal invested.
Shares of the Fund are not FDIC-insured and are not deposits or
other obligations of, or guaranteed by, any bank. No fund is a
complete investment program and you may lose money investing in the
Fund. An investment in the Fund may not be appropriate for all
investors. Before investing, prospective investors should consider
carefully the Fund's investment objective, risks, charges and
expenses.
This press release is for informational purposes only and is
not intended to, and does not, constitute an offer to purchase or
sell shares of the Fund. Additional information about the Fund,
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 U.S.
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
the Fund's control and could cause actual results to differ
materially from those set forth in the forward-looking
statements.
View original
content:http://www.prnewswire.com/news-releases/eaton-vance-municipal-bond-fund-announces-final-results-of-tender-offer-300976397.html
SOURCE Eaton Vance Management