-

Saba Capital Reaches Agreements with the Eaton Vance California Municipal Bond Fund and the Eaton Vance New York Municipal Bond Fund

Eaton Vance to Propose Liquidation and Termination of Both Funds

NEW YORK--(BUSINESS WIRE)--Saba Capital Management, L.P. (together with certain of its affiliates, “Saba”), which is the largest shareholder of the Eaton Vance California Municipal Bond Fund (NYSE: EVM) and of the Eaton Vance New York Municipal Bond Fund (NYSE: ENX) (collectively, the “Funds”), today announced that it has entered into standstill agreements (collectively, the “Agreements”) with Eaton Vance Management with respect to the Funds.

Consistent with the terms of the Agreements, Eaton Vance Management has recommended to each Fund’s Board that the Boards approve, subject to shareholder approval, the liquidation and termination of each Fund.

The terms of the Agreements also provide for Saba withdrawing its previously submitted proposals and trustee nominations in connection with the Funds’ 2025 annual meetings of shareholders. The Agreements also contain customary standstill provisions and voting commitments.

About Saba Capital

Saba Capital Management, L.P. is a global alternative asset management firm that seeks to deliver superior risk-adjusted returns for a diverse group of clients. Founded in 2009 by Boaz Weinstein, Saba is a pioneer of credit relative value strategies and capital structure arbitrage. Saba has offices in New York City and London. Learn more at www.sabacapital.com.

Contacts

Longacre Square Partners
Kate Sylvester, 646-386-0091
ksylvester@longacresquare.com

Industry:

Saba Capital Management, L.P.

NYSE:EVM
Release Versions
English

Contacts

Longacre Square Partners
Kate Sylvester, 646-386-0091
ksylvester@longacresquare.com

More News From Saba Capital Management, L.P.

Saba Capital Comments on U.S. Supreme Court’s Opinion on the Investment Company Act of 1940’s Implied Private Right of Action

NEW YORK--(BUSINESS WIRE)--Saba Capital Management, L.P. (together with certain of its affiliates, “Saba” or “we”) today issued the following statement on the U.S. Supreme Court’s decision in FS Credit Opportunities Corp. v. Saba Capital Master Fund, Ltd. regarding Section 47(b) of the Investment Company Act of 1940 (the “’40 Act”). Boaz Weinstein, Founder and Chief Investment Officer of Saba, said: “The Court did not rule that these closed-end fund managers followed the law. The Court ruled on...

Saba Capital Reaches Agreement Regarding Two Voya Closed-End Funds

NEW YORK--(BUSINESS WIRE)--Saba Capital Management, L.P. (together with certain of its affiliates, “Saba”) today announced that it has entered into an agreement with Voya Investments, LLC concerning the Voya Emerging Markets High Dividend Equity Fund (TICKER: IHD) and the Voya Asia Pacific High Dividend Equity Income Fund (TICKER: IAE) (the “Funds”). Subject to shareholder approval, the Funds will both merge into the Voya Multi-Manager Emerging Markets Equity Fund (TICKER: IEMLX), an open-end m...

Saba Capital Delivers Liquidity Win for Schroder UK Mid Cap Fund Shareholders

LONDON--(BUSINESS WIRE)--Saba Capital Management, L.P. (together with certain of its affiliates, “Saba” or “we”), the largest shareholder of Schroder UK Mid Cap Fund plc (SCP:LSE) (“SCP” or the “Company”), today announced a significant liquidity win for SCP shareholders secured through constructive engagement with the Company’s Board. Under the terms of the agreement and subject to shareholder approval, the Company will conduct a tender offer for up to 100% of the ordinary shares of SCP. Shareh...
Back to Newsroom