BOSTON, Sept. 27 /PRNewswire-FirstCall/ -- Eaton Vance Corp. today announced that it will issue $500 million in aggregate principal amount of 6.50% ten year senior notes due 2017. These notes will be issued under Eaton Vance's shelf registration statement. The Company may use the net proceeds of the debt offering for one or more of the following purposes: current and planned business investment, including the seeding of new funds, continued expansion of distribution channels, and investments in developing products; the repurchase of shares of Eaton Vance's non-voting common stock; and other general corporate purposes, including potential acquisitions and the payment of fees and expenses related to the offering.
Citi and Merrill Lynch & Co. acted as the joint book-running managers for the offering of the notes.
Eaton Vance Corp., through its subsidiaries, is the investment adviser and distributor of over 160 mutual funds and also manages investments for institutional and individual clients. Eaton Vance had $153.5 billion in assets under management on August 31, 2007.
This news release contains statements that are not historical facts, referred to as "forward-looking statements." The Company's actual future results may differ significantly from those stated in any forward-looking statements, depending on factors such as changes in securities or financial markets or general economic conditions, the volume of sales and repurchases of fund shares, the continuation of investment advisory, administration, distribution and service contracts, and other risks discussed from time to time in the Company's filings with the Securities and Exchange Commission.
