Three Eaton Vance funds announced results of tenders for preferreds

New York, Sept. 14 – Eaton Vance Limited Duration Income Fund, Eaton Vance Senior Floating-Rate Trust and Eaton Vance Senior Income Trust announced the results of their tender offers to buy some of their outstanding auction preferred shares.

Eaton Vance Limited Duration Income Fund will buy 405, or 19%, of its series A preferred shares, 405, or 19%, of its series B preferred shares, 405, or 19%, of its series C preferred shares, 405, or 19%, of its series D preferred shares and 405, or 19%, of its series E preferred shares.

Eaton Vance Senior Floating-Rate Trust will buy 201, or 21%, of its series A preferred shares, 196, or 20%, of its series B preferred shares, 201, or 21%, of its series C preferred shares and 167, or 17%, of its series D preferred shares.

Eaton Vance Senior Income Trust will buy 480, or 39%, of its series A preferred shares and 480, or 39%, of its series B preferred shares.

In each case the purchase price is 92% of the liquidation preference of $25,000 per share, or $23,000 per share, plus any unpaid dividends accrued through the tender date.

As announced on Aug. 16, Eaton Vance Limited Duration Income Fund was offering to buy up to 19% of its outstanding auction preferred shares, Eaton Vance Senior Floating-Rate Trust was offering to buy up to 21% of its outstanding auction preferred shares and Eaton Vance Senior Income Trust was offering to buy up to 39% of its outstanding auction preferred shares.

The offers expired at 5 p.m. ET on Sept. 14.

Each fund’s tender offer will be subject to some conditions. Among other things, Eaton Vance Senior Floating-Rate Trust and Eaton Vance Senior Income Trust’s tender offers are subject to each fund increasing its credit facility and the availability of sufficient proceeds under each fund’s credit facility to finance the purchase of the tendered auction preferreds.

Those conditions have been met, according to a news release on Friday.

AST Fund Solutions LLC (866 207-2356) is the information agent.

The funds are managed by Eaton Vance Management, a subsidiary of Boston-based investment management firm Eaton Vance Corp.

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