Quick Facts
FONT-SIZE Plus   Neg
Share SHARE
mail  E-MAIL

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

RELATED NEWS
Trade EV now with 
3/26/2013 9:36 AM ET

Eaton Vance Corp. (EV: Quote) 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.

Click here to receive FREE breaking news email alerts for Eaton Vance Corp. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Chipmaker Advanced Micro Devices Inc. said Thursday after the markets closed that its first quarter loss narrowed from last year, helped by strong revenue growth in its graphics and visual solutions business. The company's quarterly earnings per share, excluding items, also came in above analysts' expectations as did its quarterly revenue. After trending higher over the past few sessions, stocks showed a lack of direction throughout the trading day on Thursday. The major averages spent the session bouncing back and forth across the unchanged line before ending the day mixed. While the major averages closed on opposite sides of the unchanged line, they all showed only modest moves. U.S. Secretary Of State John Kerry said Thursday that he and his counterparts from Russia, Ukraine and the European Union have reached an agreement on a preliminary plan for ending the ongoing crisis in Ukraine. Kerry was speaking at the end of the Ukraine contact group's first meeting, comprising the foreign ministers of Russia, Ukraine, the EU and the U.S., in the Swiss city of Geneva.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.