Eaton Vance Senior Floating-Rate Trust Finalizes Tender Offer, Repurchasing 98-99% of Preferred Shares
EFR is trading near its 52-week low of $10.11 (3.6% above the low).
Summary
Eaton Vance Senior Floating-Rate Trust announced the final results of its tender offer, successfully repurchasing 98-99% of its outstanding Auction Preferred Shares at 98% of their liquidation preference.
Key Events · Financing and Capital Events · EFR
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Tender Offer Finalized
The fund announced the final results of its tender offer for Auction Preferred Shares (APS), which expired on May 29, 2026.
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Significant Preferred Share Repurchase
The fund repurchased between 98.23% and 99.87% of its outstanding Series A, B, C, and D Auction Preferred Shares.
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Repurchase at a Discount
The preferred shares were repurchased at a price of $24,500 per share, which is 98% of their $25,000 liquidation preference, plus accrued unpaid dividends.
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Reduced Financial Obligations
The successful completion of this tender offer significantly reduces the fund's preferred share liabilities and future dividend payment obligations.
Analysis · EFR · Unknown
Eaton Vance Senior Floating-Rate Trust has successfully completed its tender offer for its Auction Preferred Shares (APS), repurchasing nearly all outstanding shares across all series at a discount. This action significantly reduces the fund's preferred share liabilities and future dividend obligations, strengthening its capital structure.
At the time of this filing, EFR was trading at $10.47 on NYSE in the Unknown sector. The 52-week trading range was $10.11 to $12.21. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.