Eaton Vance Municipal Bond Fund Announces Preliminary Results of Tender Offer
10 July 2024 - 11:25PM
Business Wire
Eaton Vance Municipal Bond Fund (NYSE American: EIM) (the
“Fund”) announced today the preliminary results of the Fund’s cash
tender offer for up to 20% of its outstanding common shares that
expired at 5:00 p.m. Eastern Time on July 9, 2024 (the “Tender
Offer”).
The table below shows the preliminary results for the Fund:
Common Shares Offered to
Purchase Pursuant to the Tender Offer
Common Shares Properly
Tendered
Purchase Price of Properly
Tendered Common Shares*
14,230,637
29,738,009.595
$11.0913
* Equal to 98% of the Fund’s net asset
value (“NAV”) per share as of the close of regular trading on the
New York Stock Exchange on July 9, 2024 (the date the Tender Offer
expired).
Under the terms and conditions of the Tender Offer, if the
number of common shares properly tendered exceeds the number of
common shares offered to purchase, the Fund will purchase common
shares properly tendered on a pro-rata basis (disregarding
fractional shares). Based on the preliminary results shown above,
the Fund expects to purchase a pro-rata allocation of the common
shares properly tendered.
The above-indicated results are based on preliminary information
provided by Equiniti Trust Company, LLC, the depositary for the
Tender Offer, are subject to adjustment and should not be regarded
as final. The Fund currently expects to announce the final results
of its Tender Offer on or about July 11, 2024.
The information agent for the Tender Offer is EQ Fund Solutions,
LLC. Any questions with regard to the Tender Offer may be directed
to the information agent toll-free at 1-877-732-3614.
About the Fund
Except for sales of shares 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 NAV. The market price of Fund shares may vary from NAV 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. Fund shares are not
FDIC-insured and are not deposits or other obligations of, or
guaranteed by, any bank. The Fund is not 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 in the Fund, prospective investors should consider
carefully the Fund’s investment objective, strategies, risks,
charges and expenses.
Eaton Vance is part of Morgan Stanley Investment Management, the
asset management division of Morgan Stanley.
About Morgan Stanley Investment Management
Morgan Stanley Investment Management, together with its
investment advisory affiliates, has more than 1,300 investment
professionals around the world and $1.5 trillion in assets under
management or supervision as of March 31, 2024. Morgan Stanley
Investment Management strives to provide outstanding long-term
investment performance, service, and a comprehensive suite of
investment management solutions to a diverse client base, which
includes governments, institutions, corporations and individuals
worldwide. For further information about Morgan Stanley Investment
Management, please visit www.morganstanley.com/im.
About Morgan Stanley
Morgan Stanley (NYSE: MS) is a leading global financial services
firm providing a wide range of investment banking, securities,
wealth management and investment management services. With offices
in 42 countries, the Firm's employees serve clients worldwide
including corporations, governments, institutions and individuals.
For more information about Morgan Stanley, please visit
www.morganstanley.com.
Important Notice
This announcement is not a recommendation, an offer to purchase
or a solicitation of an offer to sell shares of the Fund. The
Tender Offer was 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. The Fund has also made
available to shareholders without charge the offer to purchase and
the letter of transmittal. Shareholders should read these documents
carefully, as they contain important information about the 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 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.
All forward-looking statements are as of the date of this release
only; the Fund undertakes no obligation to update or review any
forward-looking statements.
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