Company: VMO
Filing Date: 2025-11-07
Form Type: N-CSRS
Source: 0001193125-25-271184
Chunk: 19

Company: Invesco Municipal Opportunity Trust
Filing Date: 2025-11-07
Form: N-CSRS
Chunk 19
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5/6-VMO VMTP Shares, with a liquidation preference of $100,000 per share, pursuant to an offering exempt from registration under the 1933 Act. As of August 31, 2025, the VMTP Shares outstanding were as follows:

| Issue Date |     | Shares Issued |     | Term Redemption Date |     | Extension Date |
| 05/09/2012 |     |         3,124 |     | 12/01/2027           |     | 06/01/2024     |

VMTP Shares are a variable-rate form of preferred shares with a mandatory redemption date, unless earlier redeemed, repurchased or extended, and are considered debt for financial reporting purposes. VMTP Shares are subject to optional and mandatory redemption in certain circumstances. The redemption price per share is equal to the sum of the liquidation preference per share plus any accumulated but unpaid dividends and a redemption premium, if any. Starting six months prior to the term redemption date, the Trust will be required to earmark assets having a value equal to 110% of the redemption amount. The Trust incurs costs in connection with the issuance and/or the extension of the VMTP Shares. These costs are recorded as a deferred charge and are amortized over the term life of the VMTP Shares. Amortization of these costs is included in Interest, facilities and maintenance feeson the Statement of Operations, and the unamortized balance is included in the value of Variable rate muni term preferred shareson the Statement of Assets and Liabilities. Dividends paid on the VMTP Shares (which are treated as interest expense for financial reporting purposes) are declared daily and paid monthly. The initial rate for dividends was equal to the sum of 1.10% per annum plus the Securities Industry and Financial Markets Association Municipal Swap Index (the “SIFMA” Index). As of August 31, 2025, the dividend rate is equal to the SIFMA Index plus a spread of 1.23%, which is based on the long term preferred share ratings assigned to the VMTP Shares by a ratings agency. The average aggregate liquidation preference outstanding and the average annualized dividend rate of the VMTP Shares during the six months ended August 31, 2025 were $312,400,000 and 3.90%, respectively. The Trust utilizes the VMTP Shares as leverage in order to enhance the yield of its common shares. The primary risk associated with VMTP Shares is exposing