Invesco and Invesco Van Kampen Closed-End Funds Announce $419.3 Million Placement of Private Offerings of Variable Rate Muni Term Preferred Shares and Redemptions of Auction Rate Preferred Shares at Par
ATLANTA, May 15, 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 California Municipal Income Trust |
IIC |
$41,400,000 |
| Invesco California Quality Municipal Securities |
IQC |
$30,900,000 |
| Invesco Van Kampen Advantage Municipal Income Trust II |
VKI |
$231,000,000 |
| Invesco Van Kampen California Value Municipal Income Trust |
VCV |
$116,000,000 |
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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 California Municipal Income Trust (NYSE: IIC)
| Series |
CUSIP Number |
# of Shares |
Amount |
Redemption |
| 1 |
461-30L-208 |
128 |
$6,400,000 |
June 18, 2012 |
| 2 |
461-30L-307 |
254 |
$12,700,000 |
June 18, 2012 |
| 3 |
461-30L-406 |
318 |
$15,900,000 |
June 18, 2012 |
| 4 |
461-30L-505 |
128 |
$6,400,000 |
June 18, 2012 |
Invesco California Quality Municipal Securities (NYSE: IQC)
| Series |
CUSIP Number |
# of Shares |
Amount |
Redemption |
| 1 |
461-30M-206 |
146 |
$7,300,000 |
June 19, 2012 |
| 2 |
461-30M-305 |
135 |
$6,750,000 |
June 21, 2012 |
| 3 |
461-30M-404 |
337 |
$16,850,000 |
June 19, 2012 |
Invesco Van Kampen Advantage Municipal Income Trust II (NYSE: VKI)
| Series |
CUSIP Number |
# of Shares |
Amount |
Redemption |
| A |
461-32E-202 |
880 |
$22,000,000 |
May 24, 2012 |
| B |
461-32E-301 |
880 |
$22,000,000 |
May 25, 2012 |
| C |
461-32E-400 |
880 |
$22,000,000 |
May 24, 2012 |
| D |
461-32E-509 |
880 |
$22,000,000 |
May 24, 2012 |
| E |
461-32E-608 |
770 |
$19,250,000 |
May 25, 2012 |
| F |
461-32E-707 |
1100 |
$27,500,000 |
May 23, 2012 |
| G |
461-32E-806 |
1100 |
$27,500,000 |
May 25, 2012 |
| H |
461-32E-863 |
1100 |
$27,500,000 |
May 22, 2012 |
| I |
461-32E-871 |
1100 |
$27,500,000 |
June 4, 2012 |
| J |
461-32E-889 |
550 |
$13,750,000 |
May 22, 2012 |
Invesco Van Kampen California Value Municipal Income Trust (NYSE: VCV)
| Series |
CUSIP Number |
# of Shares |
Amount |
Redemption |
| A |
461-32H-205 |
1392 |
$34,800,000 |
May 22, 2012 |
| B |
461-32H-304 |
1740 |
$43,500,000 |
May 25, 2012 |
| C |
461-32H-403 |
1044 |
$26,100,000 |
May 22, 2012 |
| D |
461-32H-502 |
464 |
$11,600,000 |
June 11, 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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