Dreyfus closed-end muni funds call portion of auction-rate preferreds

By Marisa Wong

Milwaukee, Feb. 18 - Three Dreyfus municipal bond funds will redeem a portion of their auction-rate preferred securities at par, according to a news release.

Dreyfus Municipal Income, Inc. will redeem $10 million of its $100 million outstanding auction-rate preferreds. This includes $5 million of series A preferreds, to be redeemed March 10, and $5 million of series B preferreds, to be redeemed March 12.

Dreyfus Strategic Municipal Bond Fund, Inc. will redeem $5.1 million of its $186 million outstanding auction-rate preferreds. Affected are the following securities:

• $1.7 million of series A preferreds, to be redeemed on March 9;

• $1.7 million of series B preferreds, to be redeemed on March 11; and

• $1.7 million of series C preferreds, to be redeemed on March 8.

Dreyfus Strategic Municipals, Inc. will redeem $11.5 million of its $285 million outstanding auction-rate preferreds. Specifically, it will redeem:

• $2.3 million of series M preferreds on March 9;

• $2.3 million of series T preferreds on March 10;

• $2.3 million of series W preferreds on March 11;

• $2.3 million of series TH preferreds on March 12; and

• $2.3 million of series F preferreds on March 8.

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