Franklin Universal Trust Refinances Senior Fixed Rate Notes
August 28 2018 - 7:23PM
Franklin Universal Trust [NYSE:FT], a closed-end investment company
managed by Franklin Advisers, Inc., today announced that the Trust
has refinanced its 2.87% senior fixed rate notes due
August 28, 2018, which had an outstanding principal
balance of $60 million. The Trust has issued new 3.91%
senior fixed rate notes due September 15, 2023, in the principal
amount of $65 million, in a private placement. The proceeds of
these new notes have been used to retire the 2.87%
senior fixed rate notes and will be used for general fund
purposes. As a result of the refinancing, the
Trust currently has $65 million in notes
outstanding. The Trust’s total net assets were
$200.0 million as of July 31, 2018.
Franklin Advisers, Inc. is a wholly owned
subsidiary of Franklin Resources, Inc. [NYSE:BEN], 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 70 years of investment experience and
over $733 billion in assets under management as of July 31, 2018.
For more information, please visit franklintempleton.com.
FROM:Franklin Templeton
InvestmentsShareholders/Financial Advisors: (800) 342-5236
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