Federated Hermes Premier Municipal Income Fund announces tender offer

Core Viewpoint - Federated Hermes Premier Municipal Income Fund plans to initiate a cash tender offer for up to 32% of its outstanding common shares, allowing shareholders to tender shares at 99% of the fund's net asset value (NAV) per share [1][2]. Group 1: Tender Offer Details - The tender offer is set to commence on September 13, 2024, and conclude on October 11, 2024 [1]. - If the number of shares tendered exceeds 32%, purchases will be made on a pro rata basis, meaning not all tendered shares may be bought [2]. - Shareholders who tender their shares may receive a better price than the market, while those who do not tender will benefit from an anticipated increase in NAV due to the tender price being below NAV [3]. Group 2: Fund Operations and Management - The fund's investment advisor expects the tender offer will not impact the fund's ability to maintain total annual operating expenses at or below 0.99% [4]. - The tender offer is part of an agreement with Saba Capital Management, L.P., which includes compliance with standstill covenants and voting in line with the fund's Board of Trustees [5]. Group 3: Company Overview - Federated Hermes, Inc. manages $782.7 billion in assets as of June 30, 2024, providing a range of investment solutions to over 10,000 institutions and intermediaries globally [8].