Deutsche Municipal Income Trust plans to redeem preferreds in June

By Angela McDaniels

Tacoma, Wash., May 1 – Deutsche Municipal Income Trust plans to redeem its series B, series C and series E preferred shares of beneficial interest and its series 2015 floating-rate municipal term preferred shares, according to an N-23C-2 filing with the Securities and Exchange Commission.

The redemption date is expected to be June 1 for the series 2015 preferreds, June 12 for the series B preferreds and series C preferreds and June 15 for the series E preferreds.

The trust has 321 series B preferreds, 1,652 series C preferreds, four series E preferreds and 37,773 series 2015 preferreds outstanding.

As previously reported, the trust said in March that it plans to issue new preferred shares and use the proceeds to redeem the outstanding preferreds.

The redemptions are subject to the receipt of proceeds from the new issue.

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