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Dreyfus Municipal Income, Inc. Board Authorizes the Use of Tender Option Bonds in Connection with Any Partial Redemption of Its Auction Rate Preferred Stock (NYX:DMF).
Publication:
Business Wire
Publication Date: 02-NOV-09 |
Format: Online
Delivery: Immediate Online Access |
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Article Excerpt
NEW YORK -- On Monday, November 2, 2009, the Board of Directors of Dreyfus Municipal Income, Inc. (NYX:DMF) today authorized the Fund to redeem up to 25 percent of the Fund's auction rate preferred stock ("ARPS"), subject to market, regulatory and other conditions and factors. It is currently anticipated that, upon redemption, the leverage provided by the ARPS would be replaced through the creation of tender option bonds ("TOBs"). The timing and amount for...
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