Eaton Vance Floating-Rate 2022 Target Term Trust Declares Initial Monthly Distribution

BOSTON, Sept. 1, 2017 /PRNewswire/ -- Eaton Vance Floating-Rate 2022 Target Term Trust EFL (the "Trust"), a target term trust, today announced its first monthly distribution of $0.0396 per common share. The Trust began trading on the NYSE on July 27, 2017. The distribution is expected to be paid on September 29, 2017 to shareholders of record on September 15, 2017. The ex-dividend date is September 14, 2017.    

On an annualized basis, the Trust's initial distribution is equivalent to an annual distribution rate of approximately 4.75% of the Trust's initial public offering price of $10.00. The amount of monthly distributions may vary depending on a number of factors. As portfolio and market conditions change, the rate of future distributions may change.

The Trust is managed by Eaton Vance Management, a subsidiary of Eaton Vance Corp. EV which is a leading global asset manager whose history dates to 1924. With offices in North America, Europe, Asia and Australia, Eaton Vance and its affiliates managed $405.6 billion in assets as of July 31, 2017, offering individuals and institutions a broad array of investment strategies and wealth management solutions. For more information, visit eatonvance.com.

Trust distributions may be affected by numerous factors, including changes in Trust performance, the cost of financing, portfolio holdings, realized and projected returns, and other factors. There can be no assurance that an unanticipated change in market conditions or other unforeseen factors will not result in a change in the Trust's distributions at a future time.

A portion of the distributions may be comprised of amounts from sources other than net investment income. If that is the case, you will be notified in writing. Further information will be available prior to the payment date at funds.eatonvance.com. The final determination of tax characteristics of the Trust's distributions will occur after the end of the year, at which time it will be reported to the shareholders.

The Trust is a newly organized, diversified target term trust with a limited operating history, treated as a closed-end management investment company for regulatory purposes. Trust shares are subject to investment risks, including possible loss of principal invested. An investment in the Trust may not be appropriate for all investors. There is no assurance that the Trust will achieve its investment objectives. The objective to return the Trust's Original NAV is not an express or implied guarantee obligation of the Trust or any other entity. The market price of Trust shares will be affected by factors influencing the supply and demand for Trust shares, which may include changes in Trust distributions, changing perceptions about the Trust and general market conditions. The Trust is not a complete investment program and you may lose money investing in the Trust.

Statements in this press release that are not historical facts are forward-looking statements as defined by the United States securities laws. You should exercise caution in interpreting and relying on forward-looking statements because they are subject to uncertainties and other factors which are, in some cases, beyond the Trust's control and could cause actual results to differ materially from those set forth in the forward-looking statements.

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SOURCE Eaton Vance Management