Pioneer Floating Rate Trust Announces Final Results of Tender Offer
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The Fund has accepted 12,369,087 duly tendered and not withdrawn Shares, representing approximately 50% of the Fund’s outstanding Shares.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.
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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.