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- City Merchants High Yield and Invesco Enhanced Income sign heads of terms on proposed merger
City Merchants High Yield (CMHY) has announced that it has signed heads of terms with the board of Invesco Enhanced Income (IPE) in respect of a proposed merger with IPE It is proposed that the enlarged entity will be renamed Invesco Bond Income Plus, which based on the existing net assets of CMHY and IPE, would have net assets in excess of £300m. The current fund manager of both CMHY and IPE, Rhys Davies, will continue as the fund manager of BIPS.
CMHY’s board notes that the proposals will enable CMHY shareholders to benefit from the greater economies of scale that are expected to result from the enlarged asset base of BIPS.
The announcement made note of the following proposed benefits for CMHY’s shareholders:
Click here to access the announcement in full.
CMHY/IPE: City Merchants High Yield and Invesco Enhanced Income sign heads of terms on proposed merger
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