AllianceBernstein National Municipal Income Fund, Inc. And Alliance California Municipal Income Fund, Inc. Announce Intention To Conduct Tender Offers For Auction Preferred Shares
ALLIANCE CA MUNI INCOME C (AKP)
US:NYSE Investor Relations:
alliancebernstein.com/abcom/product_center/3_vehicle/mf/closedend/alliance_california_muni_income.htm?shareclass=
Company Research
Source: PR Newswire
NEW YORK, Aug. 2, 2018 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. ("ANMIF" – NYSE: AFB) and Alliance California Municipal Income Fund, Inc. ("ACMIF" – NYSE: AKP) (each, a "Fund" and together, the "Funds") announced today that each Fund's Board of Directors has unanimously approved a voluntary tender offer to purchase up to 100% of the Fund's outstanding auction preferred shares ("APS") at a price per share to be determined by a committee of the Board prior to the commencement of the tender offer. The Funds expect to announce additional details, including the timing of the tender offers, as soon as practicable.Each Fund's tender offer will be conditioned upon the successful private placement of new preferred shares and certain other conditions as will be set forth in the Fund's offer to purchase and related letter of transmittal. Additional terms of each tender offer will be set forth in each Fund's tender offer materials when they are filed and become ava
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