SCHEDULE: Bank of America Amends Invesco Muni Preferred Share Agreement
Amendment to Schedule 13D
Bank of America Corporation and Banc of America Preferred Funding Corporation filed an amendment to their Schedule 13D regarding their 100% beneficial ownership of Invesco Pennsylvania Value Municipal Income Trust's preferred shares.
Summary
- Bank of America Corporation (BAC) and Banc of America Preferred Funding Corporation (BAPFC) filed Amendment No. 5 to their Schedule 13D.
- The amendment pertains to their beneficial ownership of SERIES 2015/6-VPV VARIABLE RATE MUNI TERM PREFERRED SHARES (VMTP Shares) of Invesco Pennsylvania Value Municipal Income Trust.
- Reporting persons maintain shared voting and dispositive power over 788.00 VMTP Shares, which represents 100.0% of the class.
- The primary reason for this amendment is the execution of an Amendment to the Variable Rate Muni Term Preferred Shares Purchase Agreement, dated September 5, 2025.
Sentiment
Score: 5
Explanation: Neutral, as this is an administrative filing updating an existing agreement and beneficial ownership, with no new financial or operational information.
Future Outlook
The filing does not provide specific forward-looking statements or guidance beyond the administrative update regarding the amended purchase agreement.
Industry Context
This filing is an administrative update related to a specific investment in municipal preferred shares, not indicative of broader industry trends or competitive shifts. It reflects ongoing management of existing investment portfolios by financial institutions.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Amendment to Agreement | Execution of an Amendment to the Variable Rate Muni Term Preferred Shares Purchase Agreement. | 2025-09-05 | Updates the terms governing the preferred shares held by the reporting persons, ensuring continued compliance and defining the ongoing relationship. |
Stakeholder Impact
- The amendment to the purchase agreement primarily impacts the contractual relationship between the reporting persons (Bank of America entities) and the issuer (Invesco Pennsylvania Value Municipal Income Trust) regarding the preferred shares. It does not appear to have a direct or immediate impact on other stakeholders such as common shareholders, employees, customers, or suppliers.
Key Dates
| Date | Description |
|---|---|
| 2019-05-30 | Original Schedule 13D dated. |
| 2019-06-07 | Original Schedule 13D filed with the SEC. |
| 2025-09-05 | Date of event requiring filing; execution of an Amendment to the Variable Rate Muni Term Preferred Shares Purchase Agreement. |
| 2025-09-09 | Date of signature for the current Amendment No. 5 to Schedule 13D. |
Keywords
Invesco Pennsylvania Value Municipal Income Trust, Bank of America Corporation, Banc of America Preferred Funding Corporation, Schedule 13D, Preferred Shares, Municipal Income Trust, Variable Rate Muni Term Preferred Shares, VMTP Shares, SEC Filing
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