BNY Mellon Municipal Bond Infrastructure Fund, Inc. (NYSE: DMB) Announces Sale of $75 Million of Remarketable Variable Rate MuniFund Term Preferred Shares
BNY Mellon Municipal Bond Infrastructure Fund, Inc. (NYSE: DMB) has successfully sold $75 million in Remarketable Variable Rate MuniFund Term Preferred Shares (RVMTP Shares) to two qualified institutional buyers. This offering is exempt from registration under the Securities Act, ensuring smooth transactions for institutional investors. The fund provides ongoing updates regarding asset coverage and leverage ratios monthly, enhancing transparency for investors. Notably, BNY Mellon Investment Management oversees substantial assets, amounting to $2 trillion as of September 30, 2020.
- Successful sale of $75 million RVMTP Shares indicates strong demand.
- Transaction conducted under an exemption, facilitating institutional investment.
- None.
NEW YORK--(BUSINESS WIRE)--BNY Mellon Municipal Bond Infrastructure Fund, Inc. (NYSE: DMB) announced today the successful sale of
The Fund posts certain information at https://im.bnymellon.com/us/en/intermediary/products/closed-end-funds.jsp, including asset coverage and leverage ratios (within 5 business days of the last day of each month) and a fact sheet containing certain statistical information (within 15 business days of the last day of each month).
Forward Looking Statements
This press release may contain forward-looking statements. Actual future results or occurrences may differ significantly from those anticipated in any forward-looking statements due to numerous factors, including, but not limited to, market developments, legal and regulatory developments and other additional risks and uncertainties. The Fund, its investment adviser and its sub-investment adviser undertake no responsibility to update or revise any forward-looking statements.
This notice is being provided pursuant to Regulation FD (Fair Disclosure) to ensure that the Fund’s common and preferred shareholders have been informed of the Fund’s issuance of RVMTP Shares.
This press release in neither an offer to sell nor a solicitation of an offer to buy the RVMTP Shares. No RVMTP Shares have been registered under the Securities Act or any state securities laws. Unless so registered, no RVMTP Shares may be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws, as well as subject to certain transfer restrictions.
Important Information
BNY Mellon Investment Adviser, Inc., the investment adviser for the Fund, is part of BNY Mellon Investment Management. BNY Mellon Investment Management is one of the world’s leading investment management organizations and one of the top U.S. wealth managers, with US
BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation and may also be used as a generic term to reference the Corporation as a whole or its various subsidiaries generally. Additional information on BNY Mellon Investment Management is available on www.im.bnymellon.com. BNY Mellon Investment Management’s website is intended to allow investors public access to information regarding the Fund and does not, and is not intended to, incorporate the website in this release.
Closed-end funds are traded on the secondary market through one of the stock exchanges. The Fund's investment returns and principal values will fluctuate so that an investor’s shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the net asset value (NAV) of the fund’s portfolio. There is no assurance that the Fund will achieve its investment objective.
This release is for informational purposes only and should not be considered as investment advice or a recommendation of any particular security.
