PITTSBURGH, Nov. 20, 2017 /PRNewswire/ -- Federated
Investment Management Company announced today that the
reorganization of Federated Premier Intermediate Municipal Income
Fund (NYSE: FPT) with and into Federated Premier Municipal Income
Fund (NYSE: FMN) has been completed.
In the reorganization, holders of FPT common shares and
preferred shares received a number of FMN common shares and
preferred shares based on the relative net asset value per common
share and the relative liquidation preference per preferred share,
respectively, determined as of the close of business on
Friday, Nov. 17, 2017.
The relative net asset value per common share generated an
exchange ratio that resulted in former FPT common shareholders
receiving 0.950059289 common shares for each FPT common share they
previously held. Former FPT common shareholders generally will
receive cash payments in lieu of fractional FMN common shares. The
relative liquidation preference per preferred share resulted in
former FPT preferred shareholders receiving the same number of FMN
preferred shares as the FPT preferred shares they held immediately
prior to the reorganization.
Federated Investors, Inc. (NYSE: FII) is one of the largest
investment managers in the United
States, managing $363.7
billion in assets as of Sept.
30, 2017. With 119 funds, as well as a variety of
separately managed account options, Federated provides
comprehensive investment management worldwide to approximately
8,500 institutions and intermediaries including corporations,
government entities, insurance companies, foundations and
endowments, banks and broker/dealers. For more information,
visit FederatedInvestors.com.
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Certain statements made in this press release, such as those
related to the receipt of payments in connection with the
reorganization, are forward-looking statements. Actual future
results or occurrences may differ significantly from those
anticipated in any forward-looking statements due to numerous
factors. These include, but are not limited to: market
developments; legal and regulatory developments; and other
additional risks and uncertainties. As a result, none of the
investment advisor, the fund or any other person assumes
responsibility for the accuracy and completeness of such statements
in the future. The foregoing does not constitute an offering of any
securities for sale. The combined prospectus/proxy statement
relating to the reorganization contains important information about
the reorganization and free copies may be obtained by calling the
funds at 1-800-341-7400 or at the Securities and Exchange
Commission's (SEC) website, www.sec.gov.
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SOURCE Federated Investors, Inc.