and Additional Conditional Tender Offers
BOSTON, MA, May 12, 2021 -As previously announced on March 16, 2021, the Board of Eaton Vance Senior Floating-Rate Trust (NYSE: EFR) (the "Fund") authorized a conditional cash tender offer for up to 25% of the Fund's outstanding common shares at a price per share equal to 99% of the Fund's net asset value per share ("NAV") as of the close of regular trading on the New York Stock Exchange ("NYSE") on the date the tender offer expires, conditioned on Fund shareholders' approving a new investment advisory agreement (the "New Agreement") between the Fund and Eaton Vance Management (the "Initial Tender Offer"). The Fund is announcing today an increase in the amount of the Initial Tender Offer from up to 25% of the Fund's outstanding shares to up to 50% of the Fund's outstanding common shares. All other terms of the Initial Tender Offer are as previously announced. If the New Agreement is approved, the Initial Tender Offer would commence by July 1, 2021 and the Fund would purchase common shares tendered and accepted in the Initial Tender Offer by August 13, 2021. If the New Agreement is approved by shareholders, additional terms and conditions of the Initial Tender Offer would be set forth in the associated Fund offering materials and additional press releases, as applicable. As previously announced, the shareholder meeting to consider the New Agreement was adjourned to today at 4:30 pm Eastern.