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Saba Capital Reaches Agreements with the Eaton Vance California Municipal Bond Fund and the Eaton Vance New York Municipal Bond Fund

BY Business Wire | MUNICIPAL | 08/04/25 04:10 PM EDT

Eaton Vance to Propose Liquidation and Termination of Both Funds

NEW YORK--(BUSINESS WIRE)-- Saba Capital Management, L.P. (together with certain of its affiliates, ?Saba?), which is the largest shareholder of the Eaton Vance California Municipal Bond Fund and of the Eaton Vance New York Municipal Bond Fund (collectively, the ?Funds?), today announced that it has entered into standstill agreements (collectively, the ?Agreements?) with Eaton Vance Management with respect to the Funds.

Consistent with the terms of the Agreements, Eaton Vance Management has recommended to each Fund?s Board that the Boards approve, subject to shareholder approval, the liquidation and termination of each Fund.

The terms of the Agreements also provide for Saba withdrawing its previously submitted proposals and trustee nominations in connection with the Funds? 2025 annual meetings of shareholders. The Agreements also contain customary standstill provisions and voting commitments.

About Saba Capital

Saba Capital Management, L.P. is a global alternative asset management firm that seeks to deliver superior risk-adjusted returns for a diverse group of clients. Founded in 2009 by Boaz Weinstein, Saba is a pioneer of credit relative value strategies and capital structure arbitrage. Saba has offices in New York City and London. Learn more at www.sabacapital.com.

Source: Saba Capital Management, L.P.

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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