BOSTON, Sept. 23, 2016 /PRNewswire/ -- Each of Eaton
Vance Senior Floating-Rate Trust (NYSE: EFR) and Eaton Vance Senior
Income Trust (NYSE: EVF) (each a "Fund") announced the final
results of its tender offer (each a "Tender Offer") ending
September 23, 2016 to repurchase up
to 27% and 44%, respectively, of outstanding auction preferred
shares ("APS"). For each Fund, the Tender Offer is at a price
per share equal to 95% of the liquidation preference of
$25,000 per share (or $23,750 per share), plus any accrued but unpaid
APS dividends. For each Fund, the amount of duly tendered
(and not withdrawn) APS exceeded the amount of APS the Fund had
offered to repurchase. As a result, the amount of APS accepted for
payment to each shareholder was prorated in accordance with the
terms of the Tender Offer. APS that were not tendered or
repurchased will remain outstanding.
The APS being repurchased by each Fund are as follows:
Ticker
Symbol
|
Fund
|
Series
|
Cusip
|
APS
Repurchased
|
% of
Outstanding
|
EFR
|
Eaton Vance Senior
Floating-Rate Trust
|
A
|
27828Q204
|
354
|
27%
|
|
|
B
|
27828Q303
|
354
|
27%
|
|
|
C
|
27828Q402
|
354
|
27%
|
|
|
D
|
27828Q501
|
354
|
27%
|
EVF
|
Eaton Vance Senior
Income Trust
|
A
|
27826S202
|
968
|
44%
|
|
|
B
|
27826S301
|
968
|
44%
|
Each Fund also announced today that it has increased the amount
of its existing credit facility.
This announcement is not a recommendation, an offer to purchase
or a solicitation of an offer to sell shares of any Fund. The
complete terms and conditions of each Tender Offer are set forth in
the Fund's Offer to Purchase and the related Letter of Transmittal,
as filed with the Securities and Exchange Commission as exhibits to
a tender offer statement on Schedule TO and available free of
charge at www.sec.gov.
The Funds are managed by Eaton Vance Management, a subsidiary of
Eaton Vance Corp. (NYSE: EV). Eaton Vance is a leading global
asset manager whose history dates to 1924. With offices in
North America, Europe, Asia
and Australia, Eaton Vance and its
affiliates managed $334.4 billion in
assets as of July 31, 2016, offering
individuals and institutions a broad array of investment strategies
and wealth management solutions. For more information about Eaton
Vance, visit www.eatonvance.com.
Fund shares are subject to investment risk, including
possible loss of principal invested. No Fund is a
complete investment program and you may lose money investing in a
Fund. An investment in a Fund may not be appropriate for all
investors. Additional information about the Funds,
including performance and portfolio characteristic information, is
available at www.eatonvance.com.
Statements in this press release that are not historical
facts are forward-looking statements as defined by the United States securities laws. You should
exercise caution in interpreting and relying on forward-looking
statements because they are subject to uncertainties and other
factors which are, in some cases, beyond a Fund's control and could
cause actual results to differ materially from those set forth in
the forward-looking statements.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/eaton-vance-bank-loan-closed-end-funds-announce-final-results-of-auction-preferred-shares-tender-offers-300333499.html
SOURCE Eaton Vance Management