Tender Offer - Invesco Pennsylvania Value Municipal Income Trust

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Form Type: N-CSR

Filing Date: 2025-05-02

Corporate Action: Tender-offer

Type: Update

Accession Number: 000119312525111540

Filing Summary: For the fiscal year ended February 28, 2025, Invesco Pennsylvania Value Municipal Income Trust reported performance metrics indicating that the Trust outperformed its style-specific benchmark with a total return at NAV of 5.49% and at market value of 12.37%. The S&P Municipal Bond Pennsylvania 5+ Year Investment Grade Index returned 3.16%. Factors contributing to the Trust's performance include an overweight allocation to healthcare securities and BBB-rated bonds, while underweight allocations in housing and higher coupon bonds negatively impacted it. The state of Pennsylvania demonstrated strong economic health with a positive unemployment rate and good access to liquidity. The Trust executed a tender offer on December 9, 2024, which involved accepting 73.79% of the common shares tendered for payment. The letter also discussed the impacts of leverage on investment returns, findings regarding market conditions, the Trust's upcoming performance and strategies, and outlining disclosures related to its Dividend Reinvestment Plan for shareholders.

Additional details:

Item 1: Annual report date

Value: 2025-02-28

Item 2: NAV total return

Value: 5.49%

Item 3: Market value total return

Value: 12.37%

Item 4: S&P Pennsylvania 5+ Year Investment Grade Index return

Value: 3.16%

Item 5: Common shares tendered accepted

Value: 73.79%

Item 6: General obligation bonds rating

Value: A+/AA/Aa2

Item 7: Expected FY26 Rainy Day Fund balance

Value: $6.4 billion

Item 8: Tender offer execution date

Value: 2024-12-09

Form Type: SC TO-C

Filing Date: 2024-06-13

Corporate Action: Tender-offer

Type: New

Accession Number: 000113743924001068

Filing Summary: The document is about a preliminary communication related to an issuer tender offer involving Invesco Trust for Investment Grade New York Municipals and Invesco Pennsylvania Value Municipal Income Trust to acquire 25% of its common shares at 99% of NAV per share. The tender offer will commence between October 31, 2024, and November 8, 2024. A standstill agreement with Saba Capital Management is mentioned. No explicit tender offer price or currency is provided in the document.

Additional details:

Acquirer Cik: 5094

Target Cik: 895528

: stock

Percentage: 25

Finished: 1

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