Saba Capital Reaches Agreements With Three Eaton Vance Closed-End Funds
Saba Capital Management, L.P. and certain associated parties (collectively “Saba”) today announced that it has reached an agreement with Eaton Vance Management with respect to each of Eaton Vance Senior Income Trust (NYSE: EVF), Eaton Vance Floating-Rate Income Trust (NYSE: EFT), and Eaton Vance Senior Floating-Rate Trust (NYSE: EFR) (the “Funds”).
Under the terms of the agreements, Eaton Vance Senior Income Trust, Eaton Vance Floating-Rate Income Trust, and Eaton Vance Senior Floating-Rate Trust will commence cash tender offers for up to
The Funds also agreed to three conditional year-end tender offers for up to
“We are pleased to have reached these agreements that benefit all shareholders,” said Pierre Weinstein, Partner and Portfolio Manager of Saba. “By providing all shareholders of the Funds with the opportunity to tender their shares at a price near the Funds’ NAVs, tendering shareholders will receive immediate liquidity at an attractive price, and non-tendering shareholders will benefit from a narrowing in the Funds’ discounts to NAV as well as the accretive nature of the tender being conducted at
About Saba Capital
Saba Capital Management, L.P. is a registered investment adviser founded in 2009. Saba is a spin-out of a proprietary investing group founded by Boaz Weinstein at Deutsche Bank in 1998. Saba manages
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