Invesco announces auction-rate preferred redemptions from three funds

By Tali David

Minneapolis, May 10 - Invesco Advisers, Inc. announced that three of its closed-end funds plan to redeem certain series of auction-rate preferreds, according to a press release.

The Invesco New York Quality Municipal Securities fund will redeem the following:

• $7.4 million of series 1 preferreds on June 12; and

• $6.25 million of series 2 preferreds on June 15.

The Invesco Van Kampen Pennsylvania Value Municipal Income Trust will redeem the following:

• $26,625,000 of series A preferreds on May 22;

• $23,625,000 of series B preferreds on June 6;

• $38,475,000 of series C preferreds on May 29; and

• $41,375,000 of series D preferreds on May 18.

The Invesco Van Kampen Trust for Investment Grade New York Municipals will redeem the following:

• $31.8 million of series A preferreds on May 29;

• $23.85 million of series B preferreds on June 1; and

• $21.2 million of series C preferreds on May 22.

Invesco said it anticipates that the redemptions will be funded with cash and proceeds from its variable-rate muni-term preferred shares offering.

Invesco Advisers is an Atlanta-based investment adviser.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.