Eaton Vance Corp. Announces Pricing Of Senior Notes Offering

BOSTON, June 14, 2013 /PRNewswire/ -- Eaton Vance Corp. (NYSE: EV) announced today that it has priced the previously announced public offering of $325 million aggregate principal amount of senior notes due June 15, 2023 (the "Senior Notes"). The Senior Notes will bear interest at the rate of 3.625% per year, payable on a semi-annual basis. The public offering is being made pursuant to an effective shelf registration statement on file with the U.S. Securities and Exchange Commission ("SEC") and is expected to close on June 25, 2013, subject to customary closing conditions.

The Company expects to receive net proceeds, after the underwriting discount, of approximately $323 million. The net proceeds from the public offering will be used to fund the Company's previously announced tender offer for up to $250 million aggregate principal amount of its outstanding 6.50% Senior Notes due 2017, if consummated. Remaining proceeds will be used for general corporate purposes. 

Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. LLC, and Citigroup Global Markets Inc. are acting as joint book-running managers and Barclays Capital Inc. is acting as co-manager for the offering. 

The offering of Senior Notes may be made only by means of a prospectus and prospectus supplement. A copy of the prospectus and prospectus supplement relating to the Senior Notes can be obtained from Merrill Lynch, Pierce, Fenner & Smith Incorporated, 222 Broadway, 11^th Floor, New York, NY 10038, Attention: Prospectus Department (telephone: (866) 294-1322) or by emailing [email protected]; or Morgan Stanley & Co. LLC, 180 Varick Street, Second Floor New York, NY 10014, Attention: Prospectus Department (telephone: (866) 718-1649) or by emailing [email protected].

This press release does not constitute an offer to sell or purchase, or the solicitation of an offer to sell or purchase, or the solicitation of the Senior Notes or any other securities, nor shall there be any sale of securities mentioned in this press release in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About Eaton Vance

Eaton Vance Corp. is one of the oldest investment management firms in the United States, with a history dating to 1924. Eaton Vance and its affiliates managed $260.3 billion in assets as of April 30, 2013, offering individuals and institutions a broad array of investment strategies and wealth management solutions.

Forward-Looking Statements

Certain information contained in this press release may include forward-looking statements, including, but not limited to, statements that are considered "forward-looking statements" within the meaning of United States securities laws, including the statements regarding our intention to issue the Senior Notes and our expected use of proceeds. Any statements contained in or incorporated by reference into this press release that are not statements of historical fact should be considered forward-looking statements.  These statements are often identified by the use of words such as "may," "will," "expect," "believe," "anticipate," "intend," "could," "should," "estimate" or "continue," and similar expressions or variations. These statements are based on the beliefs and assumptions of our management based on information currently available to management. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Actual results and the timing of events could differ materially from those currently anticipated as a result of risks and uncertainties.  Actual results could be affected by the factors discussed or referenced in our prospectus and prospectus supplement, our annual report on Form 10-K for the year ended October 31, 2012 and our quarterly report on Form 10-Q for the quarterly period ended April 30, 2013 filed with the SEC, under the heading "Risk Factors" and elsewhere, and any subsequent periodic or current reports filed by us with the SEC.  Forward-looking statements speak only as of the date of this press release.  We undertake no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements.

SOURCE Eaton Vance Corp.

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