The Funds announced today that each fund will complete one or more optional partial redemptions of its Remarketable Variable Rate MuniFund Term Preferred Shares, Series 2051 (“Series 2051 RVMTP Shares”) during the period from July 18, 2024 to December 31, 2024 (the “Redemption Period”).
During the Redemption Period, each Fund will redeem up to 15% of its Series 2051 RVMTP Shares. CXE will redeem up to 123 of the 815 Series 2051 RVMTP Shares, CMU will redeem up to 90 of the 600 Series 2051 RVMTP Shares, CXH will redeem up to 66 of the 438 Series 2051 RVMTP Shares, and MFM will redeem up to 171 of the 1,138 Series 2051 RVMTP Shares, each at a redemption price equal to the liquidation preference of $100,000 per share plus unpaid dividends and other distributions accumulated from the original issue date to, but excluding, the date upon which each redemption occurs (each a “Redemption Date”). The redemption of a portion of each fund’s Series 2051 RVMTP Shares will reduce the amount of each fund’s leverage attributable to preferred shares.
All regulatory requirements relating to the redemption of each fund’s Series 2051 RVMTP Shares have been satisfied by MFS Investment Management As of 2024-06-14, the Fund’s leverage was 32.0% and Muni High Yield Group leverage was 30.0%.