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Security Profile
- Security Type
- Closed-End Fund
- CUSIP
- 09662W109 (prev. 26203D101 )
- IPO
- 4/25/2013 · $15.00/share
- Previous Name
- Dreyfus Municipal Bond Infrastructure Fund
Fund Description: BNY Mellon Municipal Bond Infrastructure Fund, Inc., formerly Dreyfus Municipal Bond Infrastructure Fund, is an exchange-traded closed-end Fund or a closed-end ETF which is officially described as a non-diversified, closed-end investment management company. <p> INVESTMENT OBJECTIVE: The BNY Mellon Municipal Bond Infrastructure Fund, Inc. seeks to provide as high a level of current income exempt from regular federal income tax as is consistent with the preservation of capital. <p> FUND STRATEGY: The Fund will seek to achieve its investment objective by investing in debt obligations issued by or on behalf of states, territories and possessions of the United States and the District of Columbia and their political subdivisions, agencies and instrumentalities, or multistate agencies or authorities, and certain other specified securities, the income from which is exempt from regular federal income tax (collectively, municipal bonds), that the Fund’s sub-investment adviser, Standish Mellon Asset Management Company LLC, has identified as financing the development, support or improvement of infrastructure in the United States. The Fund will invest at least 50% of its Managed Assets in municipal bonds that, at the time of investment, are rated investment grade and may invest up to 50% of its Managed Assets in municipal bonds that are rated below investment grade, commonly referred to as high yield or junk bonds. The Fund will seek to maintain a levered effective duration of up to 14 years, which takes into account the effects of the Fund’s use of effective leverage and optional call provisions of the municipal bonds in the Fund’s portfolio. The Fund may employ leverage to enhance its potential for achieving its investment objective. The Fund may employ leverage by issuing preferred shares or debt securities, or by borrowing funds from banks or other financial institutions, including through the use of municipal tender option bond programs. Under normal circumstances, the Fund will invest at least 80% of its Managed Assets in municipal bonds issued to finance infrastructure sectors and projects in the United States which includes transportation (e.g., roads, tunnels and bridges, airports, seaports, railways and mass transit systems), energy and utilities (e.g., natural gas transmission and distribution, power plants, water treatment and distribution centers, wastewater treatment facilities, oil and gas pipelines), social infrastructure (e.g., schools, healthcare facilities, public facilities, convention centers), water and environment (e.g., drinking water, wastewater, solid waste, flood control, coastal management), and other similar public sectors and projects that support or facilitate the development or improvement of economic, health, and cultural and social standards in the United States. <p> FUND MANAGEMENT: BNY Mellon Investment Adviser, Inc. will serve as the investment adviser to the Fund
Notes: Effective on June 3, 2019, the Dreyfus U.S. Retail business and its long-term mutual funds was renamed BNY Mellon to align with the BNY Mellon Investment Management brand. As part of this initiative,
Company Contact
- PRS
- Stephen E. Canter
- TRS
- James Windels
- Headquarters
- 200 Park Avenue, New York, NY 10166
- Phone
- 212-922-6000 · Toll-Free 800-373-8387
- Fax
- 212-922-6570
- Investor Relations
- 800-645-6561 · info@bnymellon.com