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Saba Capital Management, the largest shareholder of Eaton Vance California Municipal Bond Fund (NYSE: EVM) and Eaton Vance New York Municipal Bond Fund (NYSE: ENX), has reached standstill agreements with Eaton Vance Management. Under these agreements, Eaton Vance Management will recommend to each Fund's Board the liquidation and termination of both funds, subject to shareholder approval.
As part of the agreement, Saba Capital will withdraw its previously submitted proposals and trustee nominations for the Funds' 2025 annual meetings. The agreements include standard standstill provisions and voting commitments.
Eaton Vance California Municipal Bond Fund (NYSE American: EVM) and Eaton Vance New York Municipal Bond Fund (NYSE American: ENX) have announced plans for liquidation and termination. The proposal requires shareholder approval at the 2025 Annual Meeting scheduled for September 23, 2025.
The Boards of Trustees and Eaton Vance Management have determined the liquidation is in the best interests of the Funds and shareholders. Notably, Saba Capital Management, a major shareholder, has agreed to withdraw its shareholder proposals and support the liquidation through standstill agreements.
Shareholders of record as of July 14, 2025, will receive proxy materials containing detailed information about the proposed liquidation.
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