Business Context and Reporting Period
Company: Eaton Vance Municipal Income 2028 Term Trust
Filing Type: Form 8-K (Current Report)
Report Date: February 1, 2023
Event Date: January 26, 2023
Business Context: The registrant is a closed-end fund incorporated in Massachusetts, trading on the New York Stock Exchange under the symbol ETX. This filing reports a corporate governance action regarding the Fund's By-Laws.
Financial Metrics
This filing does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data. The document is a current report regarding a specific corporate event rather than a periodic financial report.
Material Changes
Governance Change: On January 26, 2023, the Fund's Board of Trustees voted to exempt all prior and future purchases of Fund shares from the provisions of Article XIII of the Fund's By-Laws. This article previously governed "Control Share Acquisitions." The exemption applies on a going-forward basis until further notice.
Guidance, Outlook, and Risks
Management Commentary: The Board's action was intended to remove restrictions on share acquisitions that might otherwise be deemed control share acquisitions under the Fund's By-Laws.
Risks and Contingencies: No new financial risks or contingencies were disclosed in this filing. The change affects the regulatory framework for potential control share acquisitions but does not alter the Fund's investment strategy or maturity date (2028).
Key Facts for Investor Verification
- The Fund has removed "Control Share Acquisition" restrictions from its By-Laws effective January 26, 2023.
- This change applies to both prior and new purchases of shares.
- The exemption remains in effect until further notice by the Board.
- Investors should review the attached Fund Announcement (Exhibit 99.1) for the full text of the Board's rationale.
- No financial performance data is included in this specific filing.