BOSTON, Aug. 3, 2021 /PRNewswire/ -- Eaton Vance Short
Duration Diversified Income Fund (NYSE: EVG), Eaton Vance
Floating-Rate Income Trust (NYSE: EFT), Eaton Vance Senior
Floating-Rate Trust (NYSE: EFR) and Eaton Vance Senior Income Trust
(NYSE: EVF) (each, a "Fund" and, collectively, the "Funds") each
announced today the final results of the Fund's cash tender offer
for the following amount of its outstanding common shares (each, a
"Tender Offer" and, collectively, the "Tender Offers"). The
Tender Offers expired at 5:00 P.M. Eastern
Time on July 30, 2021.
|
Fund
|
Shares Offered to
Purchased Pursuant to the Tender Offer
|
|
EVG
|
Up to 4,470,149
shares, or 25% of its outstanding common shares
|
|
EFT
|
Up to 19,931,845
shares, or 50% of its outstanding common shares
|
|
EFR
|
Up to 18,424,157
shares, or 50% of its outstanding common shares
|
|
EVF
|
Up to 22,719,965
shares, or 60% of its outstanding common shares
|
The final results of each Tender Offer, based on a count by
American Stock Transfer & Trust Company, LLC, the depositary
for each Tender Offer, are provided in the table below.
|
Fund
|
Shares
Properly
Tendered
|
Shares
to be Purchased
|
Pro-Ration
Factor*
|
Purchase Price**
|
Number of Outstanding
Shares after Giving
Effect to Tender Offer
|
|
EVG
|
8,503,906
|
4,470,149
|
52.565832689%
|
$13.3964
|
13,410,447
|
|
EFT
|
11,568,482
|
11,568,482
|
N/A
|
$14.3281
|
29,804,628
|
|
EFR
|
8,712,234
|
8,712,234
|
N/A
|
$14.1136
|
28,536,830
|
|
EVF
|
20,330,291.438
|
20,330,291.438
|
N/A
|
$6.7897
|
18,301,092.56
|
|
|
*The number of shares
to be purchased divided by the number of shares properly
tendered.
|
|
|
**Equal to 99% of the
relevant Fund's net asset value per share as of the close of
regular trading on the New York Stock Exchange (NYSE) on July 30,
2021 (the date the Tender Offer expired).
|
Under the terms and conditions of each Fund's Tender Offer, if
the number of shares properly tendered exceeds the number of shares
offered to purchase, the Fund will purchase shares properly
tendered on a pro-rata basis (disregarding fractional
shares). As indicated above, EFT, EFR and EVF will purchase
all shares properly tendered and EVG will purchase 52.565832689% of
the shares properly tendered.
Each Fund will purchase the common shares accepted for payment
as promptly as practicable.
The information agent for each Tender Offer is AST Fund
Solutions, LLC. Any questions with regard to any of the Tender
Offers may be directed to the information agent toll-free at
1-877-732-3614.
About the Funds
Eaton Vance applies in-depth fundamental analysis to the active
management of equity, income, alternative and multi-asset
strategies. Eaton Vance's investment teams follow time-tested
principles of investing that emphasize ongoing risk management, tax
management (where applicable) and the pursuit of consistent
long-term returns. The firm's investment capabilities encompass the
global capital markets. With a history dating back to 1924, Eaton
Vance is headquartered in Boston
and also maintains investment offices in New York, London, Tokyo
and Singapore. For more
information, visit evmanagement.com. Eaton Vance is a part of
Morgan Stanley Investment Management, the asset management division
of Morgan Stanley.
Except pursuant to a tender offer, common shares of the Funds
are only available for purchase or sale on the NYSE at their
current market price. Shares of closed-end funds (such as the
Funds) often trade at a discount from their net asset value. The
market price of a fund's shares may vary from net asset value based
on factors affecting the supply and demand for shares, such as fund
distribution rates relative to similar investments, investors'
expectations for future distribution changes, the clarity of a
fund's investment strategy and future return expectations, and
investors' confidence in the underlying markets in which the fund
invests. Fund shares are subject to investment risk, including
possible loss of principal invested. Shares of the Funds are not
FDIC-insured and are not deposits or other obligations of, or
guaranteed by, any bank. Each Fund is not a complete investment
program and you may lose money investing in the Fund. An investment
in a Fund may not be appropriate for all investors. Before
investing, prospective investors should consider carefully such
Fund's investment objectives, risks, charges and
expenses.
This press release is for informational purposes only and is
not intended to, and does not, constitute an offer to purchase or
sell shares of a Fund. 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 may be forward-looking statements, as defined by the U.S.
securities laws. You should exercise caution in interpreting and
relying on forward-looking statements because they are subject to
uncertainties and other factors that may be beyond a Fund's control
and could cause actual results to differ materially from those set
forth in the forward-looking statements.
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SOURCE Eaton Vance Management