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CEF Gabelli Multimedia To Issue New Preferred

Closed End Fund (CEF) Gabelli Multimedia Trust (GGT) has announced a new issue of perpetual preferred stock. The issue should be strongly investment grade.

The pricing has not been announced via the SEC site but an OTC temporary ticker has been assigned as GABGP.

The company had previously announced the redemption of the 6% GGT-B issue on 12/26/2019 and they will use proceeds from this new issue to pay for the redemption.

There is just 1 other GGT preferred outstanding which can be seen here.

The preliminary prospectus can be read here.

Further company guidance can be seen here.

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