BOSTON, Jan. 21, 2020 /PRNewswire/ -- As previously
announced in a press release dated March 27,
2019, the Board of Trustees of Eaton Vance Municipal Bond
Fund (NYSE American: EIM) (the "Fund") has authorized a second
conditional cash tender offer (the "Second Conditional Tender
Offer") for up to 5% of the Fund's outstanding common shares,
provided that during a 120-day period announced by the Fund, the
Fund's common shares trade at an average discount to net asset
value ("NAV") of more than 6% (based upon the average of the
difference between its volume-weighted average market price and NAV
each business day during the period). The 120-day period for
the Second Conditional Tender Offer will commence tomorrow,
January 22, 2020, and end on
May 20, 2020. If triggered, the
Second Conditional Tender Offer would be at 98% of NAV per share as
of the close of regular trading on the New York Stock Exchange
(NYSE) on the date the tender offer expires. The Second
Conditional Tender Offer, if triggered, would begin on or about
June 25, 2020. If the condition
is triggered, the Fund will issue a press release providing
notification and additional information about the tender offer.
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 December 31, 2019, Eaton Vance had consolidated
assets under management of $518.6
billion. For more information, visit eatonvance.com.
About the Fund
Common shares of the Fund are generally 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 announcement is not a recommendation, an offer to purchase
or a solicitation of an offer to sell shares of the Fund. The
Fund has not commenced a tender offer, and the Second Conditional
Tender Offer will not occur unless the prescribed condition is
met. The Second Conditional Tender Offer will be made only by
an offer to purchase, a related letter of transmittal and other
documents filed with the U.S. Securities and Exchange Commission
("SEC") as exhibits to a tender offer statement on Schedule TO,
with all such documents available on the SEC's website at
www.sec.gov. In the event of the Second Conditional Tender
Offer, the Fund will also make available to shareholders without
charge the offer to purchase and the letter of transmittal.
Shareholders should read these documents carefully, as they would
contain important information about the Second Conditional Tender
Offer.
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.
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content:http://www.prnewswire.com/news-releases/eaton-vance-municipal-bond-fund-announces-commencement-of-120-day-period-in-connection-with-second-conditional-tender-offer-300990542.html
SOURCE Eaton Vance Management