FRANKLIN MANAGED MUNICIPAL INCOME TRUST [PMM] - self-tender offer
Franklin Managed Municipal Income Trust is initiating a self-tender offer for its Remarketed Preferred Shares, Series A and Series C, although specific tender prices or amounts are not disclosed in the filing excerpt.
Why this matters
Franklin Managed Municipal Income Trust, formerly known as Putnam Managed Municipal Income Trust, is a Massachusetts-based investment fund that focuses on providing income through investments in municipal securities. The Trust has announced a self-tender offer for its Remarketed Preferred Shares, Series A and Series C. This action allows holders of these preferred shares to tender their shares back to the Trust, although the specific terms, such as tender prices or amounts, are not detailed in the available filing. The offer outlines procedures for tendering shares and includes provisions for book-entry transfers and guaranteed delivery, emphasizing the importance of following these procedures by the termination date of the offer.