MFS High Yield Municipal Trust Announces Optional Partial Redemption of Preferred Shares

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Key Terms

remarketable variable rate munifund term preferred shares financial

A remarketable variable rate munifund term preferred share is a type of preferred stock issued by a fund that invests in municipal (tax-exempt) debt, which pays a dividend that resets periodically with market rates and has a defined term or maturity. Think of it as an adjustable-rate certificate that can be resold on scheduled “remarketing” dates; it matters to investors because it offers tax-advantaged income with changing yields, but carries interest-rate sensitivity, liquidity risk at remarketing, and credit risk tied to the municipal holdings.

tender and paying agent financial

A tender and paying agent is a neutral third party hired to run the mechanics of a buyback or tender offer: they collect acceptances from shareholders, verify eligible securities, handle the exchange or cancellation, and deliver payment. Think of them as the cashier and record-keeper for the deal — their role matters to investors because they ensure payments are made accurately, deadlines are followed, and the process is transparent and legally compliant.

forward-looking statements regulatory

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

closed-end investment company financial

A closed-end investment company is a pooled investment fund that issues a fixed number of shares in a one-time offering and then has those shares bought and sold on an exchange like a stock; a professional manager runs the portfolio of assets. It matters to investors because the market price can move above or below the value of the underlying holdings, affecting returns and income, and shares may be less flexible to issue or redeem compared with open-ended funds—think of buying a slice of a privately baked pie whose market price can differ from the pie’s actual ingredients value.

net asset value financial

Net asset value is the total value of an investment fund's assets minus any liabilities, divided by the number of shares or units outstanding. It represents the per-share worth of the fund, similar to how the value of a house is determined by its total worth after debts are subtracted. Investors use it to gauge the true value of their holdings and to compare different investment options.

fdic-insured regulatory

"FDIC-insured" means that a bank or savings institution is protected by the Federal Deposit Insurance Corporation, which guarantees that depositors will get back their money up to a certain limit if the bank fails. This insurance provides peace of mind, similar to a safety net, ensuring that your savings are protected even if the bank encounters financial trouble. It helps build trust and confidence for people saving or investing their money in banks.

assets under management financial

Assets under management (AUM) is the total value of all the investments that a financial company or fund is responsible for overseeing on behalf of its clients. It’s like a big bucket that shows how much money the firm is managing for people or organizations. A higher AUM often indicates a larger, more trusted company, and it can influence how much money they earn and the services they can offer.

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04/01/2026 - 04:30 PM

BOSTON--(BUSINESS WIRE)-- MFS^® High Yield Municipal Trust (NYSE: CMU) announced today that it will complete an optional partial redemption of its Remarketable Variable Rate MuniFund Term Preferred Shares, Series 2051 ("Series 2051 RVMTP Shares") on May 1, 2026 (the “Redemption Date”).

On the Redemption Date, CMU will redeem up to 180 of the 510 Series 2051 RVMTP Shares at a redemption price equal to the liquidation preference of $100,000 per share plus unpaid dividends and other distributions accumulated from the original issue date to, but excluding, the Redemption Date. The redemption of a portion of CMU’s Series 2051 RVMTP Shares will reduce the amount of its leverage attributable to preferred shares.

All regulatory requirements relating to the redemption of CMU’s Series 2051 RVMTP Shares have been satisfied by MFS Investment Management. The Tender and Paying Agent is The Bank of New York Mellon and its address is: 101 Barclay Street, Floor 7E, New York, New York 10286. Payment of the redemption price for CMU's Series 2051 RVMTP Shares will be sent to the holder by the Tender and Paying Agent on the Redemption Date.

Cautionary Statement Regarding Forward-Looking Statements

This press release may contain statements regarding plans and expectations for the future that constitute forward-looking statements within The Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking and can be identified by the use of words such as "may," "will," "expect," "anticipate," "estimate," "believe," "continue," or other similar words. Such forward-looking statements are based on CMU’s current plans and expectations, are not guarantees of future results or performance, and are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. All forward-looking statements are as of the date of this release only; CMU undertakes no obligation to update or review any forward-looking statements. You are urged to carefully consider all such factors.

About CMU

MFS^® High Yield Municipal Trust is a closed-end investment company product advised by MFS Investment Management. Closed-end funds, unlike open-end funds, are not continuously offered. There is a one-time public offering and once issued, common shares of a closed-end fund are bought and sold in the open market through a stock exchange. Shares may trade at a discount to the net asset value per share. Shares of CMU are not FDIC-insured and are not deposits or other obligations of, or guaranteed by, any bank. Shares of CMU involve investment risk, including possible loss of principal.

About MFS Investment Management^®

In 1924, MFS^® launched the first US open-end mutual fund, opening the door to the markets for millions of everyday investors. Today, as a full-service global investment manager serving financial advisors, intermediaries and institutional clients, MFS still serves a single purpose: to create long term value for clients by allocating capital responsibly. That takes our powerful investment approach combining collective expertise, thoughtful risk management and long-term discipline. Supported by our culture of shared values and collaboration, our teams of diverse thinkers actively debate ideas and assess material risks to uncover what we believe are the best investment opportunities in the market. As of February 28, 2026, MFS manages $669.8 billion in assets under management. Please visit mfs.com for more information.

MFS Investment Management
111 Huntington Ave., Boston, MA 02199

67975.1