Franklin Managed Municipal Income Trust repurchases 92% of outstanding remarketed preferred shares
FMN•Franklin Managed Municipal Income Trust repurchased 1,607 Series A and Series C Remarketed Preferred Shares, approximately 92% of those outstanding, at 92.88% of their liquidation preferences. The offer expired October 29, 2026, and payment was made November 5, 2026.
1. Repurchase completed
The trust accepted 1,607 Series A and Series C shares for repurchase. Prices were $92,875 per Series A share and $46,437.50 per Series C share, with accrued, unpaid dividends payable separately. The trust said an offering of 1,000 Series 1 Variable Rate Demand Preferred Shares, each with a $100,000 liquidation preference, funded the repurchases through net proceeds. Untendered shares remain outstanding.
