ATLANTA, Dec. 10,
2024 /PRNewswire/ -- Invesco Advisers, Inc., a
subsidiary of Invesco Ltd. (NYSE: IVZ), announced today the
preliminary results of the previously announced tender offers for
Invesco Trust for Investment Grade New York Municipals (NYSE: VTN)
and Invesco Pennsylvania Value Municipal Income Trust (NYSE: VPV)
(each, a "Fund" and collectively, the "Funds"). Each tender offer
expired at 11:59 p.m., New York City time, on Monday, December 9, 2024 (the "Expiration
Date").
Invesco Trust for Investment Grade New York Municipals conducted
a tender offer for cash of up to 4,869,438 of the Fund's
outstanding common shares of beneficial interest ("Common Shares"),
representing twenty five percent of its Common Shares. Based
on current information, approximately 6,818,415 Common Shares, or
approximately 35% of the Fund's Common Shares outstanding, were
tendered through the Expiration Date. Because the number of shares
redeemed exceeded 4,869,438 shares, the relative number of shares
that will be purchased from each shareholder will be prorated based
on the number of Common Shares properly tendered.
Invesco Pennsylvania Value Municipal Income Trust conducted a
tender offer for cash of up to 5,957,386 of the Fund's Common
Shares, representing twenty five percent of its Common Shares.
Based on current information, approximately 8,073,690 Common
Shares, or approximately 33.9% of the Fund's Common Shares
outstanding, were tendered through the Expiration Date.
Because the number of shares exceeded 5,957,386 shares, the
relative number of Common Shares that will be purchased from each
shareholder will be prorated based on the number of Common Shares
properly tendered.
The final number of each Fund's Common Shares validly tendered
and accepted pursuant to each Fund's tender offer will be announced
at a later date. Each Fund expects to make cash payments for
tendered and accepted Common Shares at a price equal to 99% of such
Fund's net asset value as of the close of regular trading on the
New York Stock Exchange on Friday, December
10, 2024. Payment for Common Shares tendered and accepted is
expected to be sent to tendering shareholders within approximately
seven business days after the Expiration Date.
For investor inquiries, call 1-800-341-2929.
For media relations inquiries contact
mediarelations@invesco.com
This communication is not intended to, and shall not,
constitute an offer to purchase or sell shares of any of the
Invesco Funds, including either Fund.
About Invesco Ltd.
Invesco Ltd. Is a global
independent investment management firm dedicated to delivering an
investment experience that helps people get more out of life. Our
distinctive investment teams deliver a comprehensive range of
active, passive and alternative investment capabilities. With
offices in more than 20 countries, Invesco managed
$1.8 trillion in assets on behalf of
clients worldwide as of September 30,
2024. For more information, visit
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 A DEPOSIT | NOT FDIC INSURED l MAY
LOSE VALUE l NO BANK GUARANTEE | NOT IN
INSURED BY ANY FEDERAL GOVERNMENT AGENCY
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SOURCE Invesco Ltd.
