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Eaton Vance Municipal Bond Fund (symbol: EIM) is one of the oldest investment management firms in the United States, with a heritage dating back to 1924. Known for its commitment to providing high-quality investment solutions, Eaton Vance and its affiliates offer a broad array of investment strategies and wealth management solutions to both individuals and institutions. The company’s long-standing record of exemplary service, timely innovation, and attractive returns through various market conditions has established it as a preferred choice for many discerning investors.
EIM operates as a non-diversified closed-end management investment company and comprises several specialized components, including the Municipal Bond Fund, California Municipal Bond Fund, and New York Municipal Bond Fund. The primary objective of the Eaton Vance Municipal Bond Fund is to provide current income that is exempt from regular federal income tax, alternative minimum tax, and certain state taxes. This is achieved by investing in higher-quality bonds, which helps mitigate risk while aiming to deliver consistent returns.
Recent achievements reflect the fund's dedication to maintaining its high standards of service and financial performance. EIM's strategic initiatives and careful selection of investment opportunities have enabled it to navigate diverse market conditions effectively. As a result, the fund has continued to attract a broad base of investors seeking tax-exempt income sources.
With a keen focus on high-quality bonds and an unwavering commitment to its investment objectives, Eaton Vance Municipal Bond Fund looks to sustain its robust performance. The company's partnerships and innovative strategies are geared towards ensuring long-term growth and stability for its investors. For more detailed information, please visit the Eaton Vance disclosure page.
Eaton Vance Municipal Bond Fund (NYSE American: EIM) has announced it will conduct a tender offer for up to 5% of its outstanding common shares. This decision follows the Fund meeting the First Trigger Event conditions, where shares traded at an average discount to NAV of more than 7.5% during the measurement period of July 9, 2024, through November 8, 2024. The tender offer is expected to commence around December 10, 2024, and expire near January 9, 2025. Shareholders will be able to tender their shares at 98% of NAV per share. If the tender offer is oversubscribed, shares will be purchased on a pro-rata basis.
Eaton Vance Municipal Bond Fund (NYSE American: EIM) has initiated a four-month measurement period starting July 9, 2024, for a potential conditional tender offer. If the Fund's common shares trade at an average discount to NAV exceeding 7.5% during this period, the Fund will execute a tender offer for up to 5% of its outstanding shares at 98% of NAV. The measurement period ends on November 8, 2024. The offer's terms will be detailed in filings with the SEC and communicated to shareholders. Should the number of shares tendered exceed the maximum, purchases will be made on a pro-rata basis. Further details will follow in subsequent press releases and official documents.
The Eaton Vance Municipal Bond Fund (NYSE American: EIM) has announced the final results of its cash tender offer. The offer, which expired on July 9, 2024, aimed to purchase up to 14,230,637 of its outstanding common shares. A total of 29,738,009 shares were tendered, leading to a pro-ration factor of 47.85333%. This means the fund will purchase 47.85333% of the properly tendered shares. The purchase price is set at $11.0913 per share, equivalent to 98% of the fund’s NAV per share as of the close of trading on the expiration date. Post-purchase, the fund will have 56,922,547 outstanding common shares. EQ Fund Solutions, acted as the information agent for the tender offer.
Eaton Vance Municipal Bond Fund (NYSE American: EIM) announced preliminary results for its cash tender offer, which expired on July 9, 2024.
The Fund received tenders for 29,738,009.595 common shares, far exceeding the 14,230,637 shares offered for purchase. The purchase price for properly tendered shares is $11.0913 per share, representing 98% of the Fund's net asset value (NAV) as of the expiration date.
Due to the oversubscription, shares will be purchased on a pro-rata basis. The final results are expected to be announced on or about July 11, 2024. Equiniti Trust Company is the depositary, with EQ Fund Solutions, serving as the information agent.
Eaton Vance Municipal Bond Fund (NYSE American: EIM) has announced a cash tender offer to buy up to 20% of its outstanding common shares. The purchase price will be 98% of the net asset value (NAV) per share, determined at the close of regular NYSE trading on the expiration date, set for July 9, 2024, at 5:00 p.m. ET. The tender offer may be extended, and if oversubscribed, shares will be purchased on a pro-rata basis.
The Fund may hold an increased cash position during the offer period, which could impact its investment strategy and objectives. Shareholders can access detailed information on the SEC’s website or by contacting the Fund's information agent.
The Eaton Vance Municipal Bond Fund (EIM) announced a cash tender offer for up to 20% of its outstanding common shares at 98% of the Fund's net asset value. The Firm Tender Offer is set to begin on June 7, 2024, with additional conditional tender offers based on trading conditions. Shareholders have the opportunity to sell their shares back to the Fund at a premium.
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