EATON VANCE CORP. (NYSE:EV) Files An 8-K Other Events

EATON VANCE CORP. (NYSE:EV) Files An 8-K Other Events
Item 8.01. Other Events

On April 3, 2017, Eaton Vance Corp. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with Merrill Lynch, Pierce, Fenner & Smith Incorporated and Morgan Stanley & Co. LLC, as representatives of the several underwriters named in the Underwriting Agreement, to which the Company agreed to sell to the Underwriters $300 million aggregate principal amount of its 3.500% notes due 2027 (the “Notes”), for sale by the Underwriters (collectively, the “Offering”), in a public offering to a registration statement on Form S-3 (File No. 333-217109), including a preliminary prospectus, filed with the U.S. Securities and Exchange Commission on April 3, 2017. The Offering is expected to close on or about April 6, 2017, subject to customary closing conditions.

The Company expects that the net proceeds from the Offering will be approximately $296 million, after deducting the underwriting discount and estimated offering expenses payable by the Company. The Company intends to use approximately $257 million of the net proceeds of the Offering to redeem all of the outstanding $250 million aggregate principal amount of its 6.50% unsecured senior notes due 2017 (the “2017 Notes”) that mature on October 2, 2017 and to pay accrued interest, fees and expenses associated with the redemption. The Company intends to use the remaining net proceeds from the Offering for general corporate purposes, which may include working capital, capital expenditures, repurchases of its non-voting common stock, repayment of indebtedness and potential acquisitions. Pending final use, the Company may invest the net proceeds from the Offering in short-term, interest-bearing securities.

The Notes will be issued to an Indenture, dated as of October 2, 2007, between the Company and Wilmington Trust Company, as trustee (the “Trustee”), as supplemented by a Third Supplemental Indenture, to be dated on or about April 6, 2017, between the Company and the Trustee.

The above description of the Underwriting Agreement is qualified in its entirety by reference to the Underwriting Agreement, which is filed as Exhibit 1.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits

See Exhibit Index attached hereto.

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Eaton Vance Corp. is engaged in business of managing investment funds and providing investment management and advisory services to individuals and institutions. The Company seeks to develop and sustain management expertise across a range of investment disciplines, and offer investment products and services through various distribution channels. It operates through investment adviser to funds and separate accounts segment. The Company, through its subsidiaries, Eaton Vance Management and Atlanta Capital Management, LLC, and other affiliates, manages active equity, income and alternative strategies across a range of investment styles and asset classes, including the United States and global equities, floating-rate bank loans, municipal bonds, high-yield and investment grade bonds. Through its subsidiary, Parametric Portfolio Associates LLC, it manages a range of engineered alpha strategies, including systematic equity, systematic alternatives and managed options strategies.

EATON VANCE CORP. (NYSE:EV) Recent Trading Information

EATON VANCE CORP. (NYSE:EV) closed its last trading session down -0.80 at 43.68 with 527,715 shares trading hands.

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