Tender Offer - Invesco Trust for Investment Grade New York Municipals

Form Type: N-CSR

Filing Date: 2025-05-02

Corporate Action: Tender-offer

Type: Update

Accession Number: 000119312525111510

Filing Summary: Invesco Trust for Investment Grade New York Municipals submitted its certified shareholder report for the fiscal year ending February 28, 2025. The report outlines a tender offer conducted on December 9, 2024, representing 25% of its Common Shares, with 71.42% of the shares tendered accepted for payment, subject to adjustments for fractional shares. Despite challenges such as increased Medicaid expenditures expected to reach $35.4 billion in FY26, the Trust has demonstrated strong management practices and robust principal reserves. The Trust reported a NAV performance of 3.07% against a benchmark return of 2.78% from the S&P Municipal Bond New York 5+ Year Investment Grade Index, indicating outperformance. As of the fiscal year-end, New York's general obligation bonds retained high credit ratings from major agencies, displaying overall stability in the municipal credit market despite economic pressures.