Franklin Limited Duration Income Trust Oversubscribed Rights Offering Raising Over $67 Million
October 19 2018 - 08:55AM
Franklin Limited Duration Income Trust (the “Fund”) [NYSE American:
FTF] (CUSIP 35472T101) is pleased to announce the successful
completion of its transferable rights offering (the “Offer”), which
is expected to result in the issuance of approximately 7.5 million
common shares. The final subscription price for the common
shares to be issued was $8.99, which was equal to 92.5% of the
average of the last reported sale price of the Fund’s common shares
on the NYSE American on October 18, 2018 and each of the four
preceding trading days. 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 $67.8
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 October 25, 2018.
You may request a copy of the Fund’s current Report to
Shareholders 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.
Franklin Resources, Inc. [NYSE: BEN] is a global investment
management organization operating as Franklin Templeton
Investments. Franklin Templeton Investments provides global and
domestic investment management to retail, institutional and
sovereign wealth clients in over 170 countries. Through specialized
teams, the company has expertise across all asset classes—including
equity, fixed income, alternative and custom solutions. The
company’s more than 650 investment professionals are supported by
its integrated, worldwide team of risk management professionals and
global trading desk network. With offices in over 30 countries, the
California-based company has more than 70 years of investment
experience and over $717 billion in assets under management as of
September 30, 2018. For more information, please visit
franklintempleton.com.
FROM:
Franklin Templeton Investments Shareholders/Financial Advisors:
(800) 342-5236
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