BOSTON, March 1, 2019 /PRNewswire/ -- Eaton Vance Municipal Bond Fund II (NYSE American: EIV) today announced the following final pre-merger distribution. As previously announced, EIV shareholders approved the Fund's merger into Eaton Vance Municipal Bond Fund (NYSE American: EIM). In order to comply with requirements under the Internal Revenue Code, the distribution is intended to fully distribute EIV's accumulated undistributed net investment income (UNII) prior to merger.
Declaration – 3/1/2019 Ex-Date – 3/20/2019 Record – 3/21/2019 Payable – 3/29/2019
Eaton Vance Municipal Bond Fund II
As this special distribution includes all net investment income earned by EIV in earlier periods and not previously distributed, it is not indicative of the amount of the combined fund's future monthly distributions.
The merger is currently expected to be completed as of the close of business of the New York Stock Exchange on or about March 22, 2019, subject to the satisfaction of customary closing conditions. If the merger is completed as scheduled, shareholders who have elected to reinvest their distributions pursuant to EIV's dividend reinvestment plan will receive a cash distribution.
Fund distributions may be affected by numerous factors, including changes in Fund performance, the cost of financing for Funds that employ leverage, portfolio holdings, realized and projected returns, and other factors. There can be no assurance that an unanticipated change in market conditions or other unforeseen factors will not result in a change in a Fund's distributions at a future time.
A portion of the distribution may be comprised of amounts from sources other than net investment income. If that is the case, you will be notified in writing. Further information will be available prior to the payment date at funds.eatonvance.com. The final determination of tax characteristics of EIVs distributions will occur after the end of the year, at which time it will be reported to the shareholders.
Each Fund is a closed-end management investment company sponsored and managed by Eaton Vance Management. Eaton Vance Management is a subsidiary of Eaton Vance Corp. EIV and EIM trade on the NYSE American.
Eaton Vance Corp. (EV) provides advanced investment strategies and wealth management solutions to forward-thinking investors around the world. Through principal investment affiliates Eaton Vance, Parametric, Atlanta Capital, Hexavest and Calvert, the Company offers a diversity of investment approaches, encompassing bottom-up and top-down fundamental active management, responsible investing, systematic investing and customized implementation of client-specified portfolio exposures. As of January 31, 2019, Eaton Vance had consolidated assets under management of $444.7 billion. Exemplary service, timely innovation and attractive returns across market cycles have been hallmarks of Eaton Vance since 1924. For more information, visit eatonvance.com.
Shares of closed-end funds often trade at a discount from their net asset value. The market price of Fund shares may vary from net asset value based on factors affecting the supply and demand for shares, such as Fund distribution rates relative to similar investments, investors' expectations for future distribution changes, the clarity of the Fund's investment strategy and future return expectations, and investors' confidence in the underlying markets in which the Fund invests. Fund shares are subject to investment risk, including possible loss of principal invested. No Fund is a complete investment program and you may lose money investing in a Fund. An investment in a Fund may not be appropriate for all investors. Before investing, prospective investors should consider carefully the Fund's investment objective, risks, charges and expenses.
Additional Information about the Funds and the Merger
This press release is for informational purposes only and is not intended to, and does not, constitute an offer to purchase or sell shares of the Funds.
Fund shares are subject to investment risk, including possible loss of principal invested. No Fund is a complete investment program and you may lose money investing in a Fund. An investment in a Fund may not be appropriate for all investors. Additional information about the Funds, including performance and portfolio characteristic information, is available at www.eatonvance.com.
Statements in this press release that are not historical facts are forward-looking statements as defined by the United States securities laws. You should exercise caution in interpreting and relying on forward-looking statements because they are subject to uncertainties and other factors which are, in some cases, beyond a Fund's control and could cause actual results to differ materially from those set forth in the forward-looking statements.