NEW YORK, Dec. 17, 2021 /PRNewswire/ -- Neuberger
Berman Municipal Fund Inc. (NYSE American: NBH), Neuberger Berman
California Municipal Fund Inc. (NYSE American: NBW) and Neuberger
Berman New York Municipal Fund Inc. (NYSE American: NBO) (each a
"Fund" and collectively, the "Funds") announced today that each
Fund has extended the term of its existing Variable Rate Municipal
Term Preferred Shares ("VMTP Shares") to December 15, 2024. Each Fund's VMTP Shares
previously had a term redemption date of March 31, 2022.
The Funds have not registered any VMTP Shares under the
Securities Act of 1933, as amended (the "Securities Act"), or any
state securities laws. Unless so registered, no VMTP Shares may be
offered or sold in the United
States except pursuant to an exemption from the registration
requirements of the Securities Act and applicable state securities
laws. The holder of the VMTP Shares has a right to require the
Funds to register the VMTP Shares under certain circumstances. This
press release is neither an offer to sell nor a solicitation of an
offer to buy any of these securities.
About Neuberger Berman
Neuberger Berman, founded in
1939, is a private, independent, employee-owned investment manager.
The firm manages a range of strategies—including equity, fixed
income, quantitative and multi-asset class, private equity, real
estate and hedge funds—on behalf of institutions, advisors and
individual investors globally. With offices in 25 countries,
Neuberger Berman's diverse team has over 2,400 professionals. For
eight consecutive years, the company has been named first or second
in Pensions & Investments Best Places to Work in Money
Management survey (among those with 1,000 employees or more). In
2020, the PRI named Neuberger Berman a Leader, a designation
awarded to fewer than 1% of investment firms for excellence in
Environmental, Social and Governance (ESG) practices. The PRI also
awarded Neuberger Berman an A+ in every eligible category for our
approach to ESG integration across asset classes. The firm manages
$437 billion in client assets as of
September 30, 2021. For more
information, please visit our website at www.nb.com.
Statements made in this release that look forward in time
involve risks and uncertainties. Such risks and uncertainties
include, without limitation, the adverse effect from a decline in
the securities markets or a decline in the Fund's performance, a
general downturn in the economy, competition from other closed end
investment companies, changes in government policy or regulation,
inability of the Fund's investment adviser to attract or retain key
employees, inability of the Fund to implement its investment
strategy, inability of the Fund to manage rapid expansion and
unforeseen costs and other effects related to legal proceedings or
investigations of governmental and self-regulatory
organizations.
Contact:
Neuberger Berman Investment Advisers LLC
Investor Information
(877) 461-1899
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SOURCE Neuberger Berman