Hyperion 2005 Investment Grade Opportunity Term Trust Dividend Declaration.NEW YORK--(BUSINESS WIRE)--Nov. 11, 1994--Hyperion 2005 Investment Grade Opportunity Term Trust, Inc., November 11, 1994 Dividend Declaration The Board of Directors of the Hyperion 2005 Investment Grade Opportunity Term Trust, Inc. (NYSE NYSE See: New York Stock Exchange : HTO HTO Tritiated Water HTO High Tibial Osteotomy HTO High Temperature Oxidation HTO Hostile Take Over HTO Happy to Oblige HTO Horizontal Take-Off HTO Hydrogen Tritium Oxygen HTO Hospital Transfer Order ) today declared a monthly dividend of $0.0625 per share. The dividend is payable on November 30, 1994 to shareholders of record on November 21, 1994. This dividend represents a monthly return of 7.50% (an annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. rate) on the Trust's initial offering price of $10.00 per share. The current yield on shares of the Trust based on the NYSE closing price of $6.875 on November 10, 1994 is 10.91%, which is 293 basis points greater than the current yield on the 10-year Treasury Note. The net asset value (NAV See navigation system and navigation bar. ) per share is currently $8.25. The Hyperion 2005 Investment Grade Opportunity Term Trust, Inc. is a diversified diversified (di·verˑ·s , closed-end management investment company. The Trust's investment objectives are to provide shareholders with a high level of current income and to return at least $10.00 per share (the Trust's initial public offering price per share) to investors on or shortly before November 30, 2005. All securities in which the Trust invests will be either (i) at the time of investment, rated in one of the four highest rating categories of a nationally recognized rating agency (e.g., between AAA AAA: see American Automobile Association. (Triple A) A common single-cell battery used in a myriad of electronic devices of all variety. Like its double A (AA) cousin, it provides 1.5 volts of DC power. When used in series, the voltage is multiplied. and BBB BBB A medium grade assigned to a debt obligation by a rating agency to indicate an adequate ability to pay interest and repay principal. However, adverse developments are more likely to impair this ability than would be the case for bonds rated A and above. by Standard & Poor's Corporation or between Aaa and Baa by Moody's Investors Service Moody's Investors Service A leading global credit rating, research and risk analysis firm. Moody's Investors Service A leading firm engaged in credit rating, risk analysis, and research of fixed-income securities and their issuers. , Inc. or between AAA and BBB by Fitch Investors Service Fitch Investors Service A financial services company best known for the bond ratings it provides investors. , Inc.) or (ii) issued or guaranteed by the U.S. Government or one of its agencies or instrumentalities. The Trust is actively managed to take advantage of relative value opportunities in various sectors of the mortgage market. The Trust is currently managed with an average duration of 5 to 7 years. Currently the average life of the securities in the portfolio is approximately 8 years. -0-
Portfolio Breakdown as of November 10, 1994:
As a percentage of investments
Mortgage-Backed Securities 15.0%
Collateralized Mortgage Obligations (CMOs) 47.2%
Multi-Family and Commercial Property CMOs 14.7%
Subordinated CMOs 9.9%
Municipal Securities 4.0%
Asset-Backed Securities 1.7%
Interest-Only Securities (IOs) 4.5%
PAC IOs 3.0%
The Trust's investment adviser is Hyperion Capital Management,
Inc. a registered investment adviser based in New York with
approximately $4 billion in assets under management. Additional
information on the Trust's assets and performance is available by
calling Hyperion Fund Marketing at (800) HYPERION or by calling
Prudential Mutual Fund Management, Inc. (212) 214-5572.
CONTACT: Prudential Mutual Fund Management, Inc.
212/214-5572
or
Hyperion Fund Marketing
800/HYPERION
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