Dreyfus funds announce tender offers.
BANKING AND CREDIT NEWS-November 29, 2017-Dreyfus funds announce tender offers
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The Dreyfus Corporation has announced that the Board of Directors of each of the Dreyfus municipal bond closed-end funds listed below (each, a "Fund" and, collectively, the "Funds") authorized the Fund to commence a tender offer (each, a "Tender Offer") to purchase up to 100% of the Fund's outstanding auction rate preferred stock ("ARPS"), the company said.
For each Fund, the Tender Offer will be at a price per share equal to 95% of the liquidation preference of USD 25,000 per share (or USD 23,750 per share), plus any unpaid ARPS dividends accrued through the expiration date of each Tender Offer, or such later date to which such Tender Offer is extended.
The Dreyfus Corporation, a wholly owned subsidiary of The Bank of New York Mellon Corporation ("BNY Mellon"), serves as each Fund's investment adviser. The Dreyfus Corporation was established in 1951 and is headquartered in New York City. Additional information is available at www.im.bnymellon.com.
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|Publication:||M2 Banking & Credit News (BCN)|
|Date:||Nov 29, 2017|
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