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
Flying is the passion for British aviatrix Tracey Curtis Taylor, and she is now on a solo flight to cross three continents and 23 countries in her own vintage open cockpit biplane. She has already crossed half of her journey from U.K. to Australia with a target to cover 13 thousand miles. Sony Computer Entertainment Inc. Wednesday revealed that its popular PlayStation4 computer entertainment system has achieved total sales of more than 30.2 million units worldwide in a period of two years. The PS4 system is currently available in 124 countries. Cement giant LafargeHolcim (HCMLY.PK, HCMLF.PK), formed by the combination of French Lafarge and Swiss peer Holcim, Wednesday said its sales declined for the third quarter as well as nine months.
comments powered by Disqus
Trade EV now with 
Follow RTT