Eaton Vance Floating-Rate Income Plus Fund stock proceeds to fund senior floating-rate loans

By Toni Weeks

San Luis Obispo, Calif., April 5 - The Eaton Vance Floating-Rate Income Plus Fund will offer shares in a public offering, according to an N-2 filing with the Securities and Exchange Commission.

The newly organized, diversified, closed-end management investment company seeks to provide a high level of current income with preservation of capital as a secondary income by investing primarily in senior secured floating-rate loans. Under normal market conditions, the fund will invest at least 80% of its total assets in senior loans of domestic and foreign borrowers that are denominated in dollars and foreign currencies.

The portfolio managers have not yet been named.

The fund registered a token 50,000 shares at $20.00 apiece for proceeds of $1 million. It intends to apply for the listing of its common shares on the New York Stock Exchange. The ticker symbol has not been set.

Boston-based Eaton Vance Management is the fund's investment adviser.

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