Printer Friendly

INTERCAPITAL QUALITY MUNICIPAL INCOME TRUST OFFERS 5,600 AUCTION RATE PREFERRED SHARES AT $50,000 A SHARE

 INTERCAPITAL QUALITY MUNICIPAL INCOME TRUST OFFERS
 5,600 AUCTION RATE PREFERRED SHARES AT $50,000 A SHARE
 NEW YORK, Nov. 6 /PRNewswire/ -- Dean Witter Reynolds Inc. and Merrill Lynch & Co. today announced the public offering of 1,120 Series 1 Auction Rate preferred shares (ARPS), 1,120 Series 2 ARPS, 1,120 Series 3 ARPS, 1,120 Series 4 ARPS and 1,120 Series 5 ARPS of InterCapital Quality Municipal Income Trust at a price of $50,000 per share. The ARPS will be preferred shares of the trust that entitle their holders to receive cash dividends at a rate that may vary for successive dividend periods. It is expected that the initial dividend period for Series 1 ARPS will be a 12-month period, for Series 2 ARPS and Series 3 ARPS will be a seven-day dividend period, for Series 4 ARPS will be a two-month period and for Series 5 ARPS will be an eight-month period. Subsequent dividend periods may vary from seven days to five years.
 The initial dividend rate for the ARPS will be 3.75 percent per annum for Series 1, 2.85 percent per annum for Series 2, 2.85 percent per annum for Series 3, 3.00 percent per annum for Series 4 and 3.60 percent per annum for Series 5. Thereafter, the dividend rate for each subsequent dividend period will be reset according to bids, hold orders and sell orders placed by existing and potential holders in an auction.
 InterCapital Quality Municipal Income Trust is a closed-end, diversified management investment company which seeks to provide current income exempt from federal income tax. The trust will seek to achieve its investment objective by investing primarily in a diversified portfolio of municipal obligations which are rated in the three highest grades by Moody's Investors Service, Inc. or Standard & Poor's Corporation (in each case, A or higher) or, if not rated, are determined to be of comparable quality.
 -0- 11/6/92
 /CONTACT: Michael Durbin of Dean Witter Reynolds Inc., 212-392-4235/ CO: InterCapital Quality Municipal Income Trust ST: New York IN: FIN SU:


TS -- NY018 -- 8103 11/06/92 10:17 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 6, 1992
Words:357
Previous Article:INTERNATIONAL TECHNOLOGY CORP. ANNOUNCES PLANNING PERMISSION FOR TWO INTEGRATED TREATMENT FACILITIES IN U.K. DENIED
Next Article:MARRIOTT TO OFFER SUBWAY IN CORPORATE, HEALTH CARE AND COLLEGES
Topics:


Related Articles
INITIAL PUBLIC OFFERING OF 37 MILLION COMMON SHARES OF BENEFICIAL INTEREST OF INTERCAPITAL QUALITY MUNICIPAL INCOME TRUST AT $15 PER SHARE
INITIAL PUBLIC OFFERING OF 33,000,000 COMMON SHARES OF BENEFICIAL INTEREST OF INTERCAPITAL INSURED MUNICIPAL INCOME TRUST AT $15 PER SHARE
INITIAL PUBLIC OFFERING OF 13,000,000 COMMON SHARES OF BENEFICIAL INTEREST OF INTERCAPITAL CALIFORNIA INSURED MUNICIPAL INCOME TRUST
INTERCAPITAL CALIFORNIA INSURED MUNICIPAL INCOME TRUST OFFERS 2,000 AUCTION RATE PREFERRED SHARES AT $50,000 A SHARE
INTERCAPITAL INSURED MUNICIPAL INCOME TRUST OFFERS 5,000 AUCTION RATE PREFERRED SHARES AT $50,000 A SHARE
INTERCAPITAL CALIFORNIA QUALITY MUNICIPAL SECURITIES OFFERS 1,800 AUCTION RATE PREFERRED SHARES AT $50,000 A SHARE
INTERCAPITAL NEW YORK QUALITY MUNICIPAL SECURITIES OFFERS 800 AUCTION RATE PREFERRED SHARES AT $50,000 A SHARE
INTERCAPITAL QUALITY MUNICIPAL SECURITIES OFFERS 3,500 AUCTION RATE PREFERRED SHARES AT $50,000 A SHARE
INITIAL PUBLIC OFFERING OF 9,500,000 COMMON SHARES OF BENEFICIAL INTEREST OF INTERCAPITAL INSURED MUNICIPAL SECURITIES AT $15 PER SHARE
INITIAL PUBLIC OFFERING OF 4,500,000 COMMON SHARES OF BENEFICIAL INTEREST OF INTERCAPITAL INSURED CALIFORNIA MUNICIPAL SECURITIES AT $15 PER SHARE

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters