NYLI MacKay DefinedTerm Muni Opportunities Fund Announces Final Results of Tender Offer
As previously announced, the Fund conducted a tender offer allowing shareholders to offer up to
In the tender offer, 9,147,341 common shares were tendered, representing approximately
As a result of the successful completion of the tender offer, the following will be implemented:
- The Board of Trustees of the Fund has approved, and the Fund’s Agreement and Declaration of Trust will be amended to reflect, a new 12-year term for the Fund with a termination date of December 31, 2036.
-
New York Life Investment Management LLC, the investment adviser to the Fund, will waive
0.06% of the Fund’s management fee from December 31, 2024, until December 31, 2025. As a result of the waiver, the Fund’s net management fee, which is applied to managed assets, would be reduced from0.60% to0.54% .
The Fund’s daily New York Stock Exchange closing prices, net asset values per share, as well as other information are available by clicking here or by calling the Fund’s shareholder servicing agent at (855) 456-9683.
For more insights from MacKay Municipal Managers™ and our New York Life Investments affiliates click here.
There are risks inherent in any investment, including market risk, interest rate risk, credit risk and the possible loss of principal. There can be no assurance that the Fund’s investment objectives will be achieved. Shares of closed-end funds frequently trade at a discount from their net asset value, which may increase investor risk.
Past performance is no guarantee of future results, which will vary.
About New York Life Investments
With over
About MacKay Municipal Managers™
MacKay Municipal ManagersTM is a recognized leader in active municipal bond investing and is entrusted with
About MacKay Shields LLC
MacKay Shields LLC (together with its subsidiaries, "MacKay")2, a New York Life Investments company, is a global asset management firm with
1 New York Life Investment Management ranked 26th largest institutional investment manager in Pensions & Investments' Largest Money Managers 2024 published June 2024, based on worldwide institutional AUM as of 12/31/23. No direct or indirect compensation was paid for the creation and distribution of this ranking.
2 MacKay Shields is a wholly owned subsidiary of New York Life Investment Management Holdings LLC, which is wholly owned by New York Life Insurance Company.
3 Assets under management (AUM) as of September 30, 2024 represents assets managed by MacKay Shields LLC and its subsidiaries but excludes certain accounts and other assets over which MacKay Shields continues to exercise discretionary authority to liquidate but which are no longer actively managed.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241119295322/en/
Media:
Sara Guenoun | New York Life | (212) 576-4757 | Sara_j_Guenoun@newyorklife.com
Investors:
855-456-9683
Source: New York Life Investments