Pioneer Floating Rate Trust Announces Final Results of Tender Offer
December 28 2020 - 9:00AM
Business Wire
Pioneer Floating Rate Trust (NYSE: PHD) (the “Fund”) announced
today the final results for the previously announced issuer tender
offer for up to 50% of the Fund’s outstanding common shares (the
“Shares”). The Fund’s tender offer expired on Tuesday, December 22,
2020, at 5:00 p.m. Eastern Standard Time.
The Fund has accepted 12,369,087 duly tendered and not withdrawn
Shares, representing approximately 50% of the Fund’s outstanding
Shares. The Shares accepted for tender were repurchased at a price
of $11.0616, equal to 98.5% of the net asset value per Share of
$11.23 as of the close of regular trading on the New York Stock
Exchange on December 23, 2020, the pricing date stated in the Offer
to Purchase. Because the total number of Shares tendered exceeds
the number of Shares offered to purchase, all tendered Shares are
subject to pro-ration in accordance with the terms of the Offer to
Purchase. Under final pro-ration, 86.4% of the Shares tendered will
be accepted for payment, subject to adjustment for fractional
shares. Payment for the accepted Shares will be made on or about
December 28, 2020. Following the purchase of the tendered Shares,
the Fund will have approximately 12,369,087 Shares outstanding.
Any questions about the tender offer can be directed to AST Fund
Solutions, LLC, the information agent for the tender offer, toll
free at (877) 478-5039.
About Pioneer Floating Rate Trust The Fund is a
closed-end investment company traded on the NYSE under the symbol
PHD. The Fund seeks a high level of current income. The Fund also
seeks preservation of capital as a secondary objective to the
extent consistent with its primary objective.
About Amundi Pioneer Asset Management Amundi Pioneer is
the U.S. business of Amundi, Europe’s largest asset manager by
assets under management and ranked among the ten largest
globally[1]. Boston is one of Amundi’s six main global investment
hubs and offers a broad range of fixed-income, equity, and
multi-asset investment solutions in close partnership with wealth
management firms, distribution platforms, and institutional
investors across the Americas, Europe, and Asia-Pacific. Our long
history of proprietary research, robust risk management,
disciplined investment processes, and strong client relationships
has made Amundi Pioneer an investment advisor of choice among
leading institutional and individual investors worldwide. Amundi
Pioneer had approximately $89 billion in assets under management as
of September 30, 2020.
[1] Source IPE “Top 500 asset managers” published in June 2020
and based on AUM as of end December 2019.
Cautionary Statement Regarding Forward-Looking Statements
This press release may contain statements regarding plans and
expectations for the future that constitute forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995 (the “PSLRA”), and such statements are intended
to qualify for the safe harbors from liability established by the
PSLRA. All statements other than statements of historical fact are
forward-looking and can sometimes be identified as such by the
context of the statements, including words such as “believe,”
“could,” “expect,” “anticipate,” “plan,” “may,” “will,” “would,”
“should,” “intend,” “possible,” “continue” “project,” “estimate,”
“guidance” and other similar terms and phrases, whether in the
negative or affirmative, although not all forward-looking
statements include these words. Similarly, statements that describe
the objectives, plans, or goals of the Fund or its investment
adviser are forward-looking. Such forward-looking statements are
based upon the Fund’s current plans, estimates and expectations and
are not a representation that such plans, estimates, or
expectations will be achieved. Because such statements include
risks, uncertainties and contingencies, actual events may differ
materially from the expectations, intentions, beliefs, plans or
predictions of the future expressed or implied by such
forward-looking statements. Additionally, past performance is no
guarantee of future results. Additional information concerning such
risks and uncertainties are or will be contained in the Fund’s
filings with the U.S. Securities and Exchange Commission (the
“SEC”), including the Fund’s Annual Report to Shareholders on Form
N-CSR for the fiscal year ended November 30, 2019, and its
subsequent filings with the SEC which are available at
http://www.sec.gov. These factors should be considered carefully
and readers are cautioned not to place undue reliance on such
forward-looking statements. Except as required by applicable law,
the Fund undertakes no obligation to update publicly these
statements for any reason, whether to reflect new information or
the occurrence of unanticipated events or otherwise, following the
date of this press release.
Visit amundipioneer.com/us for more information.
Follow us on www.linkedin.com/company/amundi-pioneer and
https://twitter.com/amundipioneer.
Amundi Pioneer Distributor, Inc., Member SIPC ©2020 Amundi
Pioneer Asset Management
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Shareholder Inquiries: Please contact your financial advisor or
visit amundipioneer.com/us. Broker/Advisor Inquiries Please
Contact: 800-622-9876 Media Inquiries Please Contact: Geoff Smith,
617-422-4758
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