logo
Share SHARE
FONT-SIZE Plus   Neg

Eaton Vance Announces IPO Of New Closed-end Fund - Quick Facts

Eaton Vance Corp. (EV) announced the initial public offering of common shares of Eaton Vance Municipal Income Term Trust, a new closed-end fund. The Trust is issuing 10.25 million shares at an initial price of $20.00 per share, resulting in gross proceeds of $205 million. The Trust started trading on the New York Stock Exchange under the ticker symbol, EXT.

The company said, up to approximately 1.5 million additional shares may be issued upon exercise of the underwriters' overallotment option, which may not occur.

The Trust has a term of fifteen years and currently intends to cease its investment operations on or about June 30, 2028 and thereafter liquidate and distribute its net assets to holders of the Trust's common shares.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
10 Worst Places To Raise A Family Whether you are a young couple building a nest or seasoned parents looking for a change of scenery, there are number of places around the country that should be avoided, according to personal finance website WalletHub. They looked at mainly five categories for... A passenger has filed a lawsuit against Canadian budget airline Sunwing Airlines for serving him cheap sparkling wine instead of champagne on board a flight, according to media reports. The Canadian passenger, Daniel MacDuff, reportedly boarded his Sunwing flight to Cuba in February, on a flight package that advertised a complimentary on-board champagne toast. Senate Health Committee Chairman Lamar Alexander, R-Tenn., and ranking member Patty Murray, D-Wash., announced Thursday that twenty-two other Senators are cosponsoring their bipartisan plan to provide short-term stability to Obamacare. The bipartisan bill includes a two-year extension of the cost-sharing...
comments powered by Disqus
Follow RTT