Welcome to our dedicated page for AllianceBernstein Nat Muni news (Ticker: AFB), a resource for investors and traders seeking the latest updates and insights on AllianceBernstein Nat Muni stock.
Alliance National Municipal Income Fund, Inc. (NYSE: AFB), also referred to as AllianceBernstein National Municipal Income Fund, Inc., is a registered closed‑end investment company that regularly issues detailed earnings and capital structure updates. The fund is managed by AllianceBernstein L.P. and focuses on municipal income, with an investment objective described as seeking high current income exempt from regular federal income tax through investment in municipal securities that pay interest exempt from federal income tax.
The news flow for AFB prominently features quarterly earnings announcements. These releases summarize total net assets, net asset value (NAV) per share of common stock, total net investment income, and total net realized and unrealized gains or losses for each fiscal quarter. They also clarify that total net assets include assets attributable to both common and preferred shares, giving investors a structured view of the fund’s financial position over time.
Another recurring theme in AFB’s news is information about its leverage and capital structure. Recent press releases have described the fund’s plan to redeem all of its outstanding 2018 Variable Rate MuniFund Term Preferred Shares and the subsequent completion of that full redemption. The fund has explained that it used proceeds from the creation of tender option bond ("TOB") trusts to carry out this redemption and that the TOB trusts serve as substitute leverage.
On this news page, readers can review these types of announcements, including earnings updates and disclosures about preferred share redemptions and TOB trusts. For investors following municipal bond funds and tax‑exempt income strategies, AFB’s news provides insight into how the fund reports its results and manages its leverage framework over time.
AllianceBernstein National Municipal Income Fund (NYSE: AFB) announced the successful pricing and placement of $100 million in Variable Rate Demand Preferred Shares (2024 VRDPS), exempt from registration under the Securities Act of 1933. The proceeds, combined with funds from tender option bond trusts, were used to redeem all outstanding 2019 Variable Rate MuniFund Term Preferred Shares (2019 VMTPS) at $25,000 per share, plus accumulated but unpaid dividends. The total payout for the redemption was $143.85 million. This move replaces a significant portion of the leverage previously held through the 2019 VMTPS with the new 2024 VRDPS.
AllianceBernstein Closed-End Funds announced distribution rates for two of its funds, effective May 24, 2024. The AllianceBernstein Global High Income Fund (NYSE: AWF) declared a distribution of $0.0655 per share, while the AllianceBernstein National Municipal Income Fund (NYSE: AFB) declared a distribution of $0.03266 per share. Both distributions have an ex-date and record date of June 6, 2024, with payment scheduled for June 21, 2024.
AllianceBernstein National Municipal Income Fund (NYSE: AFB) released its monthly portfolio update as of April 30, 2024. The fund's top five fixed-income holdings include Lamar Consolidated Independent School District Series 2023-A, City of New Orleans LA Series 2021-A, Prosper Independent School District Series 2024, Melissa Independent School District Series 2023, and Dallas Independent School District Series 2024.
Notably, the fund's portfolio spans sectors like Health Care, Energy, and Airports. Texas constitutes the largest state allocation at 16.28%. The credit quality of the portfolio is predominantly high, with 16.63% AAA-rated and 29.84% AA-rated bonds. The average maturity is 12.08 years, and the effective duration is 8.28 years. The fund has total net assets of $350.58 million and a leverage percentage of 40.61%.
On May 13, 2024, AllianceBernstein National Municipal Income Fund (NYSE: AFB) announced a plan to redeem its 2019 Variable Rate MuniFund Term Preferred Shares (2019 VMTPS) and issue new Variable Rate Demand Preferred Shares (2024 VRDPS). The private offering aims to raise up to $100 million, targeted at qualified institutional buyers. The proceeds will be used along with funds from tender option bond trusts to cover the redemption of the 2019 VMTPS at $25,000 per share plus unpaid dividends, totaling $143.85 million. The redemption and issuance are conditional on successful placement and intended to occur around June 6, 2024. The initiative aims to replace existing leverage and is considered by the Fund's management to be in the best interest of shareholders.
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