BOSTON, Oct. 1, 2018 /PRNewswire/ -- As previously
announced in a press release dated July 26,
2018, the Boards of Trustees of the Funds listed below have
approved proposals to merge the Funds as follows:
Acquired Fund
(Trading Symbol)
|
Acquiring Fund
(Trading Symbol)
|
Eaton Vance New
Jersey Municipal Income Trust (EVJ)
|
Eaton Vance Municipal
Income Trust (EVN)
|
Eaton Vance
Pennsylvania Municipal Income Trust (EVP)
|
Eaton Vance Ohio
Municipal Income Trust (EVO)
|
Eaton Vance
Massachusetts Municipal Income Trust (MMV)
|
Acquired Fund
(Trading Symbol)
|
Acquiring Fund
(Trading Symbol)
|
Eaton Vance Ohio
Municipal Bond Fund (EIO)
|
Eaton Vance Municipal
Bond Fund (EIM)
|
Eaton Vance New
Jersey Municipal Bond Fund (EMJ)
|
Eaton Vance
Pennsylvania Municipal Bond Fund (EIP)
|
Eaton Vance Municipal
Bond Fund II (EIV)
|
Each proposed merger is subject to approval by Acquired Fund
shareholders at a Special Meeting of Shareholders. Initially,
each Special Meeting was scheduled for November 6, 2018, with a record date of
August 27, 2018. The Special
Meeting for each Acquired Fund (except Eaton Vance New Jersey
Municipal Income Trust) has been rescheduled for Thursday, December 20, 2018 and proxy materials
containing information about the meeting and each proposed merger
will be mailed to common shareholders of record as of October 25, 2018. The Special
Meeting for shareholders of Eaton Vance New Jersey Municipal Income
Trust has been rescheduled for Thursday,
January 10, 2019 and proxy materials containing information
about the meeting and the proposed merger will be mailed to common
shareholders of record as of November 8,
2018. Each Fund is a closed-end management
investment company sponsored and managed by Eaton Vance Management.
Each Fund trades on the NYSE American with the exception of Eaton
Vance Municipal Income Trust, which trades on the New York Stock
Exchange.
Each Acquired Fund has substantially similar investment
objectives and policies as the associated Acquiring Fund, except
that the Acquired Funds (excluding Eaton Vance Municipal Bond Fund
II) invest primarily in municipal bonds the interest on which is
generally exempt from both federal income tax and state income tax
in the designated state, whereas the Acquiring Funds invest
primarily in municipal bonds the interest on which is generally
exempt from federal income tax. Additional information regarding
the proposed mergers will be contained in the proxy materials.
Each merger is currently expected to be completed in the first
calendar quarter of 2019, subject to required shareholder approvals
and the satisfaction of applicable regulatory requirements and
customary closing conditions.
If the mergers are approved, each Acquired Fund shareholder will
be issued common shares of the associated Acquiring Fund at an
exchange ratio based on the Funds' respective net asset values per
share. Additional information regarding the Funds and the
proposed mergers will be contained in the proxy materials.
Eaton Vance Management is a subsidiary of Eaton Vance Corp.
(NYSE: EV). Eaton Vance is a leading global asset manager
whose history dates to 1924. With offices in North America, Europe, Asia
and Australia, Eaton Vance and its
affiliates managed $453 billion in
assets as of July 31, 2018, offering
individuals and institutions a broad array of investment strategies
and wealth management solutions. For more information about Eaton
Vance, visit eatonvance.com.
Additional Information about the Funds and the
Mergers
This press release is not intended to, and does not,
constitute an offer to purchase or sell shares of the Funds; nor is
this press release intended to solicit a proxy from any shareholder
of the Funds. The solicitation of the purchase or sale of
securities or proxies to effect each merger described herein will
only be made by a final, effective registration statement, which
will include a definitive joint proxy statement/prospectus, after
the registration statement is declared effective by the Securities
and Exchange Commission (the "SEC").
This press release references registration statements, which
will include joint proxy statements/prospectuses for each Acquiring
Fund. These registration statements have been filed with the SEC
but have not been declared effective. The registration statements
each may be amended or withdrawn. The joint proxy
statements/prospectuses will not be distributed to shareholders of
the Acquired Funds unless and until the applicable registration
statement is declared effective by the SEC.
The Funds and their trustees and officers, Eaton Vance
Management and its officers and employees, and other persons may be
deemed to be participants in the solicitation of proxies with
respect to the mergers described herein. Investors and shareholders
may obtain more detailed information regarding the direct and
indirect interests of a Fund's trustees and officers, Eaton Vance
Management and its officers and employees, and other persons by
reading the joint proxy statement/prospectus relating to the
applicable merger when it becomes available.
Investors and shareholders are urged to read the applicable
joint proxy statement/prospectus and any other relevant documents
when they become available because they will contain important
information about the proposed mergers. After they are filed,
copies of the joint proxy statements/prospectuses will be available
on the SEC's website at www.sec.gov.
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.
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SOURCE Eaton Vance Management