The Fund announced that it will redeem all outstanding shares of the Series A and Series B Preferred Shares (CUSIP Nos. 26433F2#4 and 26433F3#3), effective March 31, 2020. This announcement supersedes the fund’s announcement on March 11, 2020, regarding redemption of Series B Preferred Shares only.
The shares will be redeemed at a price equal to $25.00 per share (the liquidation preference), plus cash dividends accumulated but unpaid as of the redemption date. The fund reached an agreement with the holders of its Series A and B preferred shares to accelerate the payment on Series B Preferred Shares as well as redeem all of the Series A Preferred Shares in exchange for their agreeing to forego their right to receive an additional payment of up to 2% of the liquidation preference. As of 2020-03-23, the Fund’s leverage was 39.5% and MLP Funds Group leverage was 32.5%.