Pioneer Floating Rate Trust (NYSE: PHD) (the “Fund”) announced today that it has commenced a tender offer. The Fund will purchase up to 50% of the Fund’s outstanding common shares (the “Shares”) at a price per Share equal to 98.5% of the net asset value per Share as of the close of regular trading on the New York Stock Exchange (“NYSE”) on the business day immediately following the expiration date of the tender offer. The tender offer will expire on December 22, 2020 at 5:00 p.m. Eastern Standard Time, unless the offer is extended by the Fund in its sole discretion. The Fund previously announced its intention to conduct the tender offer in a press release dated August 31, 2020.
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