MFS Municipal Closed-End Funds Announce Closing Date for Reorganization and Change of Investment Adviser
MFS High Yield Municipal Trust (CMU) will cease trading on June 5, 2026, as part of a reorganization into MFS Municipal Income Trust (MFM). Shareholders will receive MFM shares based on net asset value, not market price, effectively locking in any existing premium or discount. abrdn Inc. will replace MFS as the investment adviser, and the fund will be renamed Aberdeen Municipal Income Fund upon closing on June 8, 2026.
MFS High Yield Municipal Trust Announces Final Results of Tender Offer
MFS High Yield Municipal Trust announced the final results of its tender offer, accepting 12,746,391 shares, representing 50% of its outstanding common shares. A total of 13,949,629.03 shares were properly tendered, resulting in a proration factor of approximately 91.38% for participating shareholders. The purchase price was set at $3.75 per share, equivalent to 99% of the Fund's net asset value per share as of the close of business on May 5, 2026.
MFS High Yield Municipal Trust Announces Preliminary Results of Tender Offer
MFS High Yield Municipal Trust's tender offer for roughly 50% of its outstanding shares was oversubscribed, with approximately 13.95 million shares properly tendered. The Fund estimates a proration factor of 91.37% for tendering shareholders, with the purchase price set at 99% of NAV, or $3.75 per share. Final results and payment are expected around May 11, 2026.
