Invesco Advisers funds to redeem auction-rate preferreds in full

By Ashley Montgomery

Kansas City, Kan., May 9 - Invesco Advisers, Inc. said that five of its closed-end funds plan to redeem all of their outstanding auction-rate preferred shares.

According to a news release, the trusts will use the proceeds from recent offerings of variable-rate muni-term preferred shares to fund the redemptions.

The shares will be redeemed at par plus accrued interest to the redemption dates.

Invesco Value Municipal Income Trust will redeem its series 1 through 5 shares, totaling $71.2 million, on June 11,

Invesco Value Municipal Trust will redeem its $38.7 million series TH shares on June 15 and its $17.25 million series TU shares on June 13.

Invesco Value Municipal Bond Trust will redeem its $16.05 million shares on June 14.

Invesco Van Kampen Municipal Opportunity Trust will redeem its series B and D shares on May 16, its series A shares on May 21, its series E shares on May 24 and its series C and F shares on May 30. The shares total $187 million.

Invesco Van Kampen Select Sector Municipal Trust will redeem its series A shares May 18, its series C shares May 23, its series D shares May 24 and its series B shares June 8. The shares total $70.95 million.

Invesco is an investment management firm based in Atlanta, Ga.

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