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 Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Friday, January 17, 7:37 AM
Slide #445. MainStay DefinedTerm Municipal Opportunities Fund — Preferred Stock Offering
| Company: |
MainStay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) |
| $Amount Offered: |
$70,000,000 |
| Date of Pricing: |
10/5/2012 |
| Preferred Stock Offering Details: |
MainStay DefinedTerm Municipal Opportunities Fund announced that it successfully priced and placed two series of privately offered Fixed Rate Municipal Term Preferred Shares of $35 million each pursuant to Rule 144A under the Securities Act of 1933. The proceeds from each offering will be used to seek to achieve the Fund's investment objective, which is contained in the Fund's prospectus. |
MainStay MacKay DefinedTerm Municipal Opportunities is a diversified, closed-end management investment company. The Fund seeks to achieve its investment objectives by investing, under normal market conditions, at least 80% of its “Managed Assets” in municipal bonds, the interest on which is generally excludable from gross income for regular U.S. Federal income tax purposes. As of May 31 2017, total assets were $869,694,536 and its investment portfolio totaled $832,667,559.
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