Eaton Vance bank loan funds plan tenders for auction preferreds

New York, June 30 – Eaton Vance Senior Floating-Rate Trust and Eaton Vance Senior Income Trust announced that their boards of trustees have authorized tender offers for their auction preferred shares.

Eaton Vance Senior Floating-Rate will tender for up to 27% of the outstanding preferreds while Eaton Vance Senior Income will tender for 44%.

In both cases the offer price will be 95% of the liquidation preference of $25,000 per share. Both closed-end funds will also pay dividends accrued through the tender date.

Each of the offers will be subject to conditions, including that the respective fund is able to increase its credit facility and has sufficient funds available to finance the tender.

Both funds invest in bank loans and both are managed by Boston-based asset management firm Eaton Vance Corp.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.