The Eaton Vance Floating-Rate Income Trust will redeem outstanding auction preferred shares (APS), worth $65 million, PR Newswire reports. It will redeem the shares at a redemption price of $25,000 per share of APS plus the amount of accumulated but unpaid dividends.
After the completion of this redemption the fund will have redeemed 82% of its APS. The fund has organized to raise the commitment under its existing financing arrangement to fund the redemption.
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