Welcome to our dedicated page for EV Senior Floating Rate news (Ticker: EFR), a resource for investors and traders seeking the latest updates and insights on EV Senior Floating Rate stock.
Eaton Vance Senior Floating-Rate Fund (NYSE: EFR), legally known as Eaton Vance Senior Floating-Rate Trust, is a closed-end fund focused on below investment grade floating rate loans. News about EFR often centers on Board actions, distribution policies, and shareholder-focused corporate events, reflecting its role as a listed investment fund rather than an operating company.
Press releases have highlighted decisions by the fund’s Board of Trustees to authorize conditional cash tender offers for a portion of the fund’s outstanding common shares at prices based on a percentage of net asset value. These announcements describe the conditions under which tender offers may occur, such as shareholder approval of a new investment advisory agreement with Eaton Vance Management or the fund’s shares trading at an average discount to NAV above a specified threshold during certain periods. Such news items provide insight into how the Board responds to trading discounts and shareholder considerations.
EFR-related news has also covered conditional increases in the fund’s regular monthly distributions on common shares, contingent on shareholder approval of new advisory arrangements. These communications explain how distribution changes are intended to affect long-term shareholder value and clarify that distributions may include amounts from sources other than net investment income, with implications for net asset value over time.
In addition, corporate developments involving Eaton Vance and Morgan Stanley appear in EFR’s news flow. Announcements note that Eaton Vance Corp. was acquired by Morgan Stanley, and that Eaton Vance Management and other affiliates are now part of Morgan Stanley Investment Management. Governance updates, such as Board composition and related matters, may also be reported through current reports and associated releases.
Investors and analysts following EFR’s news can use this information to monitor changes in distribution policies, tender offer activity, advisory arrangements, and governance decisions that may influence the fund’s trading dynamics and structure. Regularly reviewing EFR news helps readers understand how the fund’s sponsor and Board address issues like discounts to NAV, shareholder liquidity options, and the broader organizational context of the fund’s adviser.
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Eaton Vance Senior Floating-Rate Trust (NYSE: EFR) announced that its Annual Meeting of Shareholders will be held on September 10, 2021, at 11:30 a.m. Eastern Time, in a telephonic format due to COVID-19 concerns. Shareholders of record as of July 8, 2021, can participate by emailing AST Fund Solutions by 3:00 p.m. ET on September 9, 2021. Legal proxies are required for those holding shares through intermediaries. The Fund encourages advance voting through the provided proxy methods. More details are available on the Fund's website.
On May 12, 2021, shareholders of Eaton Vance Senior Floating-Rate Trust (NYSE: EFR) approved a new investment advisory agreement with Eaton Vance Management. This approval triggers an Initial Tender Offer set to start by July 1, 2021, allowing up to 50% of outstanding shares to be bought at 99% of net asset value (NAV). Additionally, a distribution rate increase of approximately 25% will commence in June 2021. The Fund plans future Conditional Tender Offers if shares trade at an average daily discount to NAV exceeding 10%.
The Eaton Vance Senior Floating-Rate Trust (NYSE: EFR) has announced an increase in its Initial Tender Offer from 25% to 50% of outstanding common shares, contingent upon shareholder approval of a new investment advisory agreement. The offer, set to commence by July 1, 2021, will repurchase shares at 99% of the Fund's net asset value (NAV) as of the expiration date. Additionally, cash tender offers will be conducted by the end of 2024 if shares trade at an average discount of over 10%. The Fund also announced a potential distribution rate increase of approximately 25%.
Saba Capital Management has reached an agreement with Eaton Vance Management concerning Eaton Vance Senior Income Trust (EVF), Eaton Vance Floating-Rate Income Trust (EFT), and Eaton Vance Senior Floating-Rate Trust (EFR). The Funds will conduct cash tender offers to repurchase up to 60%, 50%, and 50% of their outstanding shares at 99% of their net asset values (NAV). Additionally, conditional year-end tender offers for 10% of common shares at 98% of NAV will occur if specific discount conditions are met from 2022 to 2024.
Eaton Vance Senior Floating-Rate Trust (NYSE: EFR) held a special meeting of shareholders on May 7, 2021, to approve a new investment advisory agreement with Eaton Vance Management. The meeting has been adjourned to May 12, 2021, allowing more time for shareholder voting. Shareholders as of the October 29, 2020 record date are encouraged to vote and can find proxy materials online. Participation guidelines are detailed, requiring certain credentials for those holding shares through intermediaries. The fund is now part of Morgan Stanley Investment Management following an acquisition.
Eaton Vance Senior Floating-Rate Trust (NYSE: EFR) held a special meeting of shareholders on April 30, 2021, which was adjourned to May 7, 2021, to allow more time for voting on a new investment advisory agreement with Eaton Vance Management. Shareholders who have not voted are urged to do so before the adjourned meeting. The October 29, 2020, record date for voting remains unchanged. For participation, record holders and those through intermediaries must follow specific voting instructions. Questions can be directed to AST.
Eaton Vance Senior Floating-Rate Trust (NYSE: EFR) announced that its special shareholder meeting, originally held on April 16, 2021, has been adjourned to April 30, 2021, at 2:00 p.m. Eastern Time. The adjournment allows additional time for shareholders to vote on a new investment advisory agreement with Eaton Vance Management. The record date for eligible shareholders remains October 29, 2020. Shareholders who wish to participate must submit their votes or requests for voting credentials to AST by 11:00 a.m. on April 30.
Eaton Vance Floating-Rate Income Trust (EFT), Eaton Vance Senior Floating-Rate Trust (EFR), and Eaton Vance New York Municipal Income Trust (EVY) announced conditional cash tender offers for up to 25% of their outstanding shares, contingent on shareholder approval of a new advisory agreement. If approved, EFT and EFR will increase monthly distributions to $0.0775 and $0.0813 per share, representing a 25% increase. The funds' distributions may not always reflect net investment income and can include other sources. There are risks regarding the tender offers and future distributions.
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