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Five Pimco funds give results of tender offers for auction-rate preferreds
By Wendy Van Sickle
Columbus, Ohio, April 15 Pimco Corporate & Income Strategy Fund (PCN), Pimco High Income Fund (PHK), Pimco Income Strategy Fund (PFL), Pimco Income Strategy Fund II (PFN) and Pimco Corporate & Income Opportunity Fund (PTY) announced the final results of each funds tender offer for all of its outstanding auction-rate preferred shares, according to a news release.
Pimco was offering tender prices based on the $25,000 liquidation preference per share, plus any unpaid dividends through the expiration date, with the following details:
For PCN, 476, or 91.71%, of the shares were accepted at 94.25, or $23,562.50;
For PHK, 1,674, or 96.15%, of the shares were accepted at 94.25, or $23,562.50;
For PFL, 367, or 90.84%, of the shares were accepted at 96, or $24,000;
For PFN, 1,426, or 91.65%, of the shares were accepted at 96, or $24,000;
For PTY, 3,246, or 94.88%, of the shares were accepted at 98, or $24,500;
The tender offers expired at 5 p.m. ET on April 12. The were announced on March 12.
EQ Fund Solutions, LLC is the information agent (877 478-5044).
Pimco is a Newport Beach, Calif.-based investment manager.
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