HOUSTON, Dec. 7, 2011
/PRNewswire/ -- Invesco Advisers, Inc. ("Invesco") announced
today that each of the Invesco tax-exempt closed-end funds listed
below (the "Funds") plans to redeem a portion of its outstanding
auction rate preferred shares ("ARPS") at their respective
liquidation preferences (sometimes referred to as "at par"),
together with accrued and unpaid dividends, if any, to the
redemption date. These redemptions are anticipated to be funded
with proceeds received from the issuance of Tender Option Bonds
("TOBs").
(Logo: http://photos.prnewswire.com/prnh/20110131/MM39469LOGO-a
)
This redemption announcement follows the November 30, 2011 press release in which Invesco
provided information regarding, among other things, refinancing of
a portion of the Funds' preferred shares with the use of TOBs. The
amount of ARPS being redeemed at this time varies by Fund and
ranges from approximately 7 percent to approximately 10 percent of
the original amount of ARPS issued for each Fund. The amount is
also based on a number of factors, including the interests of the
common shareholders, the availability of high quality municipal
bonds at certain yield levels to be transferred to the TOBs trust
structure and the ability to secure liquidity providers for the
related put feature.
For this partial redemption, The Depository Trust Company
("DTC"), the securities' holder of record, will determine how the
partial series redemptions will be allocated among each participant
broker-dealer account. Each participant broker-dealer, as nominee
for underlying beneficial owners (street name shareholders), in
turn will determine how redeemed shares are to be allocated among
its underlying beneficial owners. The procedures used by various
broker-dealers to allocate redeemed shares among beneficial owners
may differ from each other as well as from the procedures used by
DTC.
Following is a redemption schedule for each fund:
Invesco Insured Municipal Income Trust (NYSE: IIM)
|
Series
|
CUSIP Number
|
# of Shares Redeemed
|
Amount Redeemed
|
Redemption Date
|
|
1
|
461-32P-207
|
28
|
$1,400,000
|
February 6, 2012
|
|
2
|
461-32P-306
|
63
|
$3,150,000
|
February 6, 2012
|
|
3
|
461-32P-405
|
70
|
$3,500,000
|
February 6, 2012
|
|
4
|
461-32P-504
|
28
|
$1,400,000
|
February 6, 2012
|
|
5
|
461-32P-603
|
28
|
$1,400,000
|
February 6, 2012
|
Invesco Insured Municipal Bond Trust (NYSE: IMC)
|
Series
|
CUSIP Number
|
# of Shares Redeemed
|
Amount Redeemed
|
Redemption Date
|
|
|
461-30Y-200
|
42
|
$2,100,000
|
February 2, 2012
|
Invesco Insured Municipal Trust (NYSE: IMT)
|
Series
|
CUSIP Number
|
# of Shares Redeemed
|
Amount Redeemed
|
Redemption Date
|
|
TH
|
461-32W-202
|
126
|
$6,300,000
|
February 3, 2012
|
|
TU
|
461-32W-301
|
56
|
$2,800,000
|
February 1, 2012
|
Invesco Municipal Premium Income Trust (NYSE: PIA)
|
Series
|
CUSIP Number
|
# of Shares Redeemed
|
Amount Redeemed
|
Redemption Date
|
|
A
|
461-33E-201
|
20
|
$2,000,000
|
January 25, 2012
|
|
B
|
461-33E-300
|
20
|
$2,000,000
|
January 25, 2012
|
|
C
|
461-33E-409
|
20
|
$2,000,000
|
January 25, 2012
|
|
D
|
461-33E-508
|
20
|
$2,000,000
|
January 25, 2012
|
|
E
|
461-33E-607
|
20
|
$2,000,000
|
January 25, 2012
|
Invesco Quality Municipal Income Trust (NYSE: IQI)
|
Series
|
CUSIP Number
|
# of Shares Redeemed
|
Amount Redeemed
|
Redemption Date
|
|
1
|
461-33G-206
|
112
|
$5,600,000
|
January 25, 2012
|
|
2
|
461-33G-305
|
40
|
$2,000,000
|
January 26, 2012
|
|
3
|
461-33G-404
|
112
|
$5,600,000
|
January 26, 2012
|
|
4
|
461-33G-503
|
112
|
$5,600,000
|
January 26, 2012
|
|
5
|
461-33G-602
|
40
|
$2,000,000
|
January 27, 2012
|
Invesco Quality Municipal Investment Trust (NYSE:
IQT)
|
Series
|
CUSIP Number
|
# of Shares Redeemed
|
Amount Redeemed
|
Redemption Date
|
|
A
|
461-33H-204
|
140
|
$7,000,000
|
February 1, 2012
|
|
B
|
461-33H-303
|
70
|
$3,500,000
|
February 3, 2012
|
Invesco Quality Municipal Securities (NYSE: IQM)
|
Series
|
CUSIP Number
|
# of Shares Redeemed
|
Amount Redeemed
|
Redemption Date
|
|
1
|
461-33J-200
|
34
|
$1,700,000
|
January 31, 2012
|
|
2
|
461-33J-309
|
30
|
$1,500,000
|
February 1, 2012
|
|
3
|
461-33J-408
|
30
|
$1,500,000
|
February 2, 2012
|
|
4
|
461-33J-507
|
60
|
$3,000,000
|
January 31, 2012
|
|
5
|
461-33J-606
|
40
|
$2,000,000
|
January 31, 2012
|
Invesco California Insured Municipal Income Trust (NYSE:
IIC)
|
Series
|
CUSIP Number
|
# of Shares Redeemed
|
Amount Redeemed
|
Redemption Date
|
|
1
|
461-30L-208
|
14
|
$700,000
|
January 17, 2012
|
|
2
|
461-30L-307
|
28
|
$1,400,000
|
January 17, 2012
|
|
3
|
461-30L-406
|
35
|
$1,750,000
|
January 17, 2012
|
|
4
|
461-30L-505
|
14
|
$700,000
|
January 17, 2012
|
Invesco California Quality Municipal Securities (NYSE:
IQC)
|
Series
|
CUSIP Number
|
# of Shares Redeemed
|
Amount Redeemed
|
Redemption Date
|
|
1
|
461-30M-206
|
18
|
$900,000
|
January 17, 2012
|
|
2
|
461-30M-305
|
17
|
$850,000
|
January 19, 2012
|
|
3
|
461-30M-404
|
42
|
$2,100,000
|
January 17, 2012
|
Invesco New York Quality Municipal Securities (NYSE:
IQN)
|
Series
|
CUSIP Number
|
# of Shares Redeemed
|
Amount Redeemed
|
Redemption Date
|
|
1
|
461-33F-208
|
18
|
$900,000
|
January 10, 2012
|
|
2
|
461-33F-307
|
15
|
$750,000
|
January 13, 2012
|
Invesco will keep market participants and shareholders informed
of material developments in the Funds' progress to redeem ARPS via
press releases and on Invesco's website at
www.invesco.com/portal/site/us/news.
For more information, call 1-800-341-2929.
The foregoing is not an offer for sale of any securities, nor a
solicitation of any proxy.
About Invesco
Invesco is a leading independent global investment manager,
dedicated to helping investors worldwide achieve their financial
objectives. By delivering the combined power of our distinctive
investment management capabilities, Invesco provides a wide range
of investment strategies and vehicles to our retail, institutional
and high net worth clients around the world. Operating in more than
20 countries, the company is listed on the New York Stock Exchange
under the symbol IVZ. Additional information is available at
www.invesco.com.
Invesco Advisers, Inc. is an investment adviser; it provides
investment advisory services to individual and institutional
clients and does not sell securities. Invesco Distributors, Inc. is
the U.S. distributor for Invesco Ltd.'s retail mutual funds,
exchange-traded funds and institutional money market funds and the
subdistributor for its STIC Global Funds. Both are wholly owned,
indirect subsidiaries of Invesco Ltd.
The information contained herein may include forward looking
statements about the Funds' capital structure changes and
transactions. These statements provide no assurances as to the
outcome of the changes or transactions or as to whether they will,
in fact, be consummated.
NOT FDIC INSURED, MAY LOSE VALUE, OFFER NO BANK
GUARANTEE
SOURCE Invesco