Invesco and Invesco Van Kampen Closed-End Funds Announce $401 Million Placement of Private Offerings of Variable Rate Muni Term Preferred Shares and Redemptions of Auction Rate Preferred Shares at Par
ATLANTA, May 9, 2012 /PRNewswire/ -- Invesco Advisers, Inc. ("Invesco") announced today that each of the Invesco and Invesco Van Kampen closed-end funds listed below (the "Funds") has successfully priced and placed a private offering of Variable Rate Muni Term Preferred Shares ("VMTP") pursuant to an offering exempt from registration under the Securities Act of 1933. The Funds have issued VMTP as follows:
| Fund |
NYSE Ticker |
VMTP Amount |
| Invesco Value Municipal Income Trust |
IIM |
$71,200,000 |
| Invesco Value Municipal Trust |
IMT |
$55,900,000 |
| Invesco Value Municipal Bond Trust |
IMC |
$16,000,000 |
| Invesco Van Kampen Municipal Opportunity Trust |
VMO |
$187,000,000 |
| Invesco Van Kampen Select Sector Municipal Trust |
VKL |
$70,900,000 |
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Each Fund plans to redeem all of its outstanding auction rate preferred shares ("ARPS") at their respective liquidation preferences (sometimes referred to as "at par"), together with accrued and unpaid dividends, if any, to the redemption date. These redemptions are anticipated to be funded with cash and proceeds received from the issuance of VMTP.
ARPS Redemption Schedule
Invesco Value Municipal Income Trust (NYSE: IIM)
| Series |
CUSIP Number |
# of Shares |
Amount |
Redemption |
| 1 |
461-32P-207 |
184 |
$9,200,000 |
June 11, 2012 |
| 2 |
461-32P-306 |
413 |
$20,650,000 |
June 11, 2012 |
| 3 |
461-32P-405 |
459 |
$22,950,000 |
June 11, 2012 |
| 4 |
461-32P-504 |
184 |
$9,200,000 |
June 11, 2012 |
| 5 |
461-32P-603 |
184 |
$9,200,000 |
June 11, 2012 |
Invesco Value Municipal Trust (NYSE: IMT)
| Series |
CUSIP Number |
# of Shares |
Amount |
Redemption |
| TH |
461-32W-202 |
774 |
$38,700,000 |
June 15, 2012 |
| TU |
461-32W-301 |
345 |
$17,250,000 |
June 13, 2012 |
Invesco Value Municipal Bond Trust (NYSE: IMC)
| Series |
CUSIP Number |
# of Shares |
Amount |
Redemption |
| N/A |
461-30Y-200 |
321 |
$16,050,000 |
June 14, 2012 |
Invesco Van Kampen Municipal Opportunity Trust (NYSE: VMO)
| Series |
CUSIP Number |
# of Shares |
Amount |
Redemption |
| A |
461-32C-206 |
1650 |
$41,250,000 |
May 21, 2012 |
| B |
461-32C-305 |
1650 |
$41,250,000 |
May 16, 2012 |
| C |
461-32C-404 |
1100 |
$27,500,000 |
May 30, 2012 |
| D |
461-32C-503 |
1100 |
$27,500,000 |
May 16, 2012 |
| E |
461-32C-602 |
1100 |
$27,500,000 |
May 24, 2012 |
| F |
461-32C-701 |
880 |
$22,000,000 |
May 30, 2012 |
Invesco Van Kampen Select Sector Municipal Trust (NYSE: VKL)
| Series |
CUSIP Number |
# of Shares |
Amount |
Redemption |
| A |
461-32G-207 |
374 |
$9,350,000 |
May 18, 2012 |
| B |
461-32G-306 |
374 |
$9,350,000 |
June 8, 2012 |
| C |
461-32G-405 |
1100 |
$27,500,000 |
May 23, 2012 |
| D |
461-32G-504 |
990 |
$24,750,000 |
May 24, 2012 |
Invesco will keep market participants and shareholders informed of any material developments with the Funds via press releases and on Invesco's website at www.invesco.com/portal/site/us/news.
This information does not constitute an offer for sale of any securities or a solicitation of any proxy.
For more information, call 1-800-341-2929.
About Invesco Ltd.
Invesco Ltd. is a leading independent global investment management firm, dedicated to helping investors worldwide achieve their financial objectives. By delivering the combined power of our distinctive investment management capabilities, Invesco provides a wide range of investment strategies and vehicles to our retail, institutional and high net worth clients around the world. Operating in more than 20 countries, the firm is listed on the New York Stock Exchange under the symbol IVZ. Additional information is available at www.invesco.com.
Invesco Advisers, Inc. is an investment adviser; it provides investment advisory services to individual and institutional clients and does not sell securities. Invesco Distributors, Inc. is the U.S. distributor for Invesco Ltd.'s retail mutual funds, exchange-traded funds and institutional money market funds and the subdistributor for its STIC Global Funds. Both Invesco Advisers, Inc. and Invesco Distributors, Inc. are wholly owned, indirect subsidiaries of Invesco Ltd.
Note: There is no assurance that a closed-end fund will achieve its investment objective. Shares are bought on the secondary market and may trade at a discount or premium to NAV. Regular brokerage commissions apply.
SOURCE Invesco
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