Business News • MarketWire • PTY Announces Tender Offer for Auction Rate Preferred Shares and PTY, PCN, PFL and PFN Announce Changes to Investment Policies

PTY Announces Tender Offer for Auction Rate Preferred Shares and PTY, PCN, PFL and PFN Announce Changes to Investment Policies

PTY Announces Tender Offer for Auction Rate Preferred Shares and PTY, PCN, PFL and PFN Announce Changes to Investment Policies

NEW YORK, NY--(Marketwired - Jan 16, 2015) - PIMCO Corporate & Income Opportunity Fund (NYSE: PTY) today announced that it will commence a voluntary tender offer on January 16, 2015 (the "Tender Offer") for up to 100% of its outstanding auction rate preferred shares ("ARPS") at a price equal to 87% of the ARPS' per share liquidation preference of $25,000 per share (or $21,750 per share) and any unpaid dividends accrued through the expiration date of the Tender Offer. In addition, each tendering ARPS holder will be entitled to one non-transferrable contingent payment right, as discussed below.

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