Franklin Limited Duration Income Trust Announces Expiration of Transferable Rights Offering
18 Febbraio 2022 - 3:00PM
Business Wire
FRANKLIN LIMITED DURATION INCOME TRUST [NYSE American: FTF]
[CUSIP 35472T101] (“FTF” or the “Fund”) today announced
the preliminary results of its transferable rights offering (the
“Offer”), which is expected to result in the issuance of
approximately 10,250,000 common shares. The final subscription
price for the common shares to be issued was $7.61, which was equal
to 90% of the Fund’s net asset value per common share at the close
of trading on the NYSE American on February 17, 2022. Based on the
preliminary results, the Offer was over-subscribed. Assuming the
over-subscription privilege is exercised in full, the gross
proceeds of the Offer are expected to be approximately $78 million.
The common shares subscribed for will be issued after completion of
the pro rata allocation of the over-subscription shares, if any,
and receipt of all shareholder payments. The common shares are
expected to be issued on or about February 24, 2022. The final
results of the Offer will be announced at a later date.
A copy of the Fund's current Report to Shareholders may be
requested by contacting Franklin Templeton’s Fund Information
Department at 1-800/DIAL BEN® (1-800-342-5236) or by visiting
franklintempleton.com. All investments involve risks, including
possible loss of principal. Interest rate movements and mortgage
prepayments will affect the Fund’s share price and yield. Bond
prices generally move in the opposite direction of interest rates.
As the prices of bonds in a fund adjust to a rise in interest
rates, the fund’s share price may decline. Investments in
lower-rated bonds include higher risk of default and loss of
principal. The Fund is actively managed, but there is no guarantee
that the manager's investment decisions will produce the desired
results. For portfolio management discussions, including
information regarding the Fund’s investment strategies, please view
the most recent Annual or Semi-Annual Report to Shareholders which
can be found at franklintempleton.com or sec.gov.
Investors should consider the Fund's investment objectives,
risks, charges and expenses carefully before investing. The
prospectus supplement and accompanying prospectus contain this and
other information about the Fund and should be read carefully
before investing. Copies of the prospectus supplement and
accompanying prospectus and other documents the Fund has filed with
the Securities and Exchange Commission may be obtained by visiting
EDGAR on the SEC’s website at www.sec.gov.
Franklin Resources, Inc. [NYSE:BEN] is a global investment
management organization with subsidiaries operating as Franklin
Templeton and serving clients in over 155 countries. Franklin
Templeton’s mission is to help clients achieve better outcomes
through investment management expertise, wealth management and
technology solutions. Through its specialist investment managers,
the company offers boutique specialization on a global scale,
bringing extensive capabilities in equity, fixed income,
multi-asset solutions and alternatives. With offices in more than
30 countries and approximately 1,300 investment professionals, the
California-based company has 75 years of investment experience and
over $1.5 trillion in assets under management as of January 31,
2022. For more information, please visit franklintempleton.com.
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Franklin Templeton 1-800-342-5236
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