Deutsche municipal income trusts extend 2018 term preferreds to 2020

By Marisa Wong

Morgantown, W.Va., Dec. 1 – Deutsche Municipal Income Trust and Deutsche Strategic Municipal Income Trust announced that, effective as of Dec. 1, the redemption date of each fund’s currently outstanding floating-rate municipal term preferred shares, series 2018, has been extended to Dec. 1, 2020.

The other material terms, including the dividend rate, of each fund’s series 2018 term preferreds remain unchanged.

Deutsche Municipal Income Trust’s total series 2018 term preferred liquidation preference is at $198.75 million, and Deutsche Strategic Municipal Income Trust’s total series 2018 term preferred liquidation preference is at $70 million, according to a press release.

The closed-end funds are based in New York.

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