SEC Form 424B3 filed by Eaton Vance Senior Income Trust
$EVF
Investment Bankers/Brokers/Service
Finance
Filed pursuant to Rule
File No. 333-263033
Supplement to Prospectus dated August 25, 2022
The following replaces the Financial Highlights contained in the Prospectus:
Selected data for a Common Share outstanding during the periods stated.
| Year Ended June 30, | ||||||||||||||||||||
| 2024 | 2023 | 2022 | 2021 | 2020 | ||||||||||||||||
| Net asset value – Beginning of year (Common shares) | $ | 6.11 | $ | 6.06 | $ | 6.90 | $ | 6.20 | $ | 7.05 | ||||||||||
| Income (Loss) From Operations | ||||||||||||||||||||
| Net investment income(1) | $ | 0.79 | $ | 0.67 | $ | 0.36 | $ | 0.41 | $ | 0.40 | ||||||||||
| Net realized and unrealized gain (loss) | 0.09 | 0.04 | (0.87 | ) | 0.70 | (0.82 | ) | |||||||||||||
Distributions to preferred shareholders – From net investment income(1) | (0.15 | ) | (0.10 | ) | (0.01 | ) | (0.00 | )(2) | (0.02 | ) | ||||||||||
| Total income (loss) from operations | $ | 0.73 | $ | 0.61 | $ | (0.52 | ) | $ | 1.11 | $ | (0.44 | ) | ||||||||
| Less Distributions to Common Shareholders | ||||||||||||||||||||
| From net investment income | $ | (0.68 | ) | $ | (0.56 | ) | $ | (0.37 | ) | $ | (0.41 | ) | $ | (0.41 | ) | |||||
| Tax return of capital | (0.02 | ) | — | (0.02 | ) | — | — | |||||||||||||
| Total distributions to common shareholders | $ | (0.70 | ) | $ | (0.56 | ) | $ | (0.39 | ) | $ | (0.41 | ) | $ | (0.41 | ) | |||||
| Premium from common shares sold through shelf offering(1) | $ | 0.01 | $ | — | $ | — | $ | — | $ | — | ||||||||||
| Discount on tender offer(1) | $ | 0.01 | $ | — | $ | 0.07 | $ | — | $ | — | ||||||||||
| Net asset value – End of year (Common shares) | $ | 6.16 | $ | 6.11 | $ | 6.06 | $ | 6.90 | $ | 6.20 | ||||||||||
| Market value – End of year (Common shares) | $ | 6.34 | $ | 5.46 | $ | 5.46 | $ | 6.80 | $ | 5.33 | ||||||||||
| Total Investment Return on Net Asset Value(3) | 13.22 | % | 11.71 | % | (6.68 | )%(4) | 18.65 | % | (5.64 | )% | ||||||||||
| Total Investment Return on Market Value(3) | 30.40 | % | 10.80 | % | (14.68 | )% | 36.01 | % | (8.20 | )% | ||||||||||
| Ratios/Supplemental Data | ||||||||||||||||||||
| Net assets applicable to common shares, end of year (000’s omitted) | $ | 107,136 | $ | 107,079 | $ | 106,208 | $ | 261,425 | $ | 234,657 | ||||||||||
| Ratios (as a percentage of average daily net assets applicable to common shares)(5)† | ||||||||||||||||||||
| Expenses excluding interest and fees | 2.00 | %(6) | 1.99 | %(6) | 1.91 | % | 1.96 | % | 1.73 | % | ||||||||||
| Interest and fee expense(7) | 1.21 | % | 1.05 | % | 0.47 | % | 0.57 | % | 1.19 | % | ||||||||||
| Total expenses | 3.21 | %(6) | 3.04 | %(6) | 2.38 | % | 2.53 | % | 2.92 | % | ||||||||||
| Net investment income | 12.72 | % | 11.15 | % | 5.31 | % | 6.08 | % | 5.93 | % | ||||||||||
| Portfolio Turnover | 34 | % | 27 | % | 43 | % | 40 | % | 57 | % | ||||||||||
| Senior Securities: | ||||||||||||||||||||
| Total notes payable outstanding (in 000’s) | $ | $ | $ | $ | $ | |||||||||||||||
| Asset coverage per $1,000 of notes payable(8) | $ | $ | $ | $ | $ | |||||||||||||||
| Total preferred shares outstanding | 1,504 | 1,504 | 1,504 | 1,504 | 1,504 | |||||||||||||||
| Asset coverage per preferred share(9) | $ | 79,014 | $ | 71,481 | $ | 66,752 | $ | 71,484 | $ | 69,242 | ||||||||||
| Involuntary liquidation preference per preferred share(10) | $ | $ | $ | $ | $ | |||||||||||||||
| Approximate market value per preferred share(10) | $ | $ | $ | $ | $ | |||||||||||||||
(See related footnotes.)
Financial Highlights (continued)
| Year Ended June 30, | ||||||||||||||||||||
| 2019 | 2018 | 2017 | 2016 | 2015 | ||||||||||||||||
| Net asset value – Beginning of year (Common shares) | $ | 7.18 | $ | 7.15 | $ | 6.65 | $ | 7.02 | $ | 7.34 | ||||||||||
| Income (Loss) From Operations | ||||||||||||||||||||
| Net investment income(1) | $ | 0.41 | $ | 0.38 | $ | 0.40 | $ | 0.42 | $ | 0.40 | ||||||||||
| Net realized and unrealized gain (loss) | (0.17 | ) | 0.04 | 0.44 | (0.37 | ) | (0.32 | ) | ||||||||||||
Distributions to preferred shareholders – From net investment income(1) | (0.03 | ) | (0.03 | ) | (0.01 | ) | (0.01 | ) | (0.00 | )(2) | ||||||||||
| Discount on redemption and repurchase of auction preferred shares(1) | 0.05 | — | 0.06 | — | — | |||||||||||||||
| Total income from operations | $ | 0.26 | $ | 0.39 | $ | 0.89 | $ | 0.04 | $ | 0.08 | ||||||||||
| Less Distributions to Common Shareholders | ||||||||||||||||||||
| From net investment income | $ | (0.39 | ) | $ | (0.36 | ) | $ | (0.39 | ) | $ | (0.41 | ) | $ | (0.40 | ) | |||||
| Total distributions to common shareholders | $ | (0.39 | ) | $ | (0.36 | ) | $ | (0.39 | ) | $ | (0.41 | ) | $ | (0.40 | ) | |||||
| Net asset value – End of year (Common shares) | $ | 7.05 | $ | 7.18 | $ | 7.15 | $ | 6.65 | $ | 7.02 | ||||||||||
| Market value – End of year (Common shares) | $ | 6.23 | $ | 6.38 | $ | 6.65 | $ | 6.01 | $ | 6.21 | ||||||||||
| Total Investment Return on Net Asset Value(3) | 4.46 | %(11) | 6.12 | % | 14.02 | %(12) | 1.57 | % | 1.71 | % | ||||||||||
| Total Investment Return on Market Value(3) | 3.88 | % | 1.39 | % | 17.34 | % | 3.77 | % | (3.02 | )% | ||||||||||
| Ratios/Supplemental Data | ||||||||||||||||||||
| Net assets applicable to common shares, end of year (000’s omitted) | $ | 266,926 | $ | 272,016 | $ | 270,810 | $ | 251,789 | $ | 266,009 | ||||||||||
| Ratios (as a percentage of average daily net assets applicable to common shares)(5)† | ||||||||||||||||||||
| Expenses excluding interest and fees(13) | 1.73 | % | 1.82 | % | 1.87 | % | 1.96 | % | 1.99 | % | ||||||||||
| Interest and fee expense(7) | 1.40 | % | 0.83 | % | 0.52 | % | 0.28 | % | 0.28 | % | ||||||||||
| Total expenses(13) | 3.13 | % | 2.65 | % | 2.39 | % | 2.24 | % | 2.27 | % | ||||||||||
| Net investment income | 5.74 | % | 5.36 | % | 5.75 | % | 6.38 | % | 5.61 | % | ||||||||||
| Portfolio Turnover | 26 | % | 34 | % | 42 | % | 31 | % | 33 | % | ||||||||||
| Senior Securities: | ||||||||||||||||||||
| Total notes payable outstanding (in 000’s) | $ | $ | $ | $ | $ | |||||||||||||||
| Asset coverage per $1,000 of notes payable(8) | $ | $ | $ | $ | $ | |||||||||||||||
| Total preferred shares outstanding | 1,504 | 2,464 | 2,464 | 4,400 | 4,400 | |||||||||||||||
| Asset coverage per preferred share(9) | $ | 72,464 | $ | 68,989 | $ | 69,078 | $ | 71,629 | $ | 64,119 | ||||||||||
| Involuntary liquidation preference per preferred share(10) | $ | $ | $ | $ | $ | |||||||||||||||
| Approximate market value per preferred share(10) | $ | $ | $ | $ | $ | |||||||||||||||
(See related footnotes.)
| (1) | Computed using average common shares outstanding. |
| (2) | Amount is less than $(0.005). |
| (3) | Returns are historical and are calculated by determining the percentage change in net asset value or market value with all distributions reinvested. Distributions are assumed to be reinvested at prices obtained under the Trust’s dividend reinvestment plan. |
| (4) | The total return based on net asset value reflects the impact of the tender and repurchase by the Trust of a portion of its common shares at 99% of the Trust’s net asset value per common share. Absent this transaction, the total return based on net asset value would have been (7.90)%. |
| (5) | Ratios do not reflect the effect of dividend payments to preferred shareholders. |
| (6) | Includes a reduction by the investment adviser of a portion of its adviser fee due to the Trust’s investment in the Liquidity Fund (equal to less than 0.01% and less than 0.005% of average daily net assets for the years ended June 30, 2024 and 2023, respectively). |
| (7) | Interest and fee expense relates to the notes payable to partially redeem the Trust’s Auction Preferred Shares and/or to fund investments. |
| (8) |
| (9) | Calculated by subtracting the Trust’s total liabilities (not including the notes payable and preferred shares) from the Trust’s total assets, dividing the result by the sum of the value of the notes payable and liquidation value of the preferred shares, and multiplying the result by the liquidation value of one preferred share. |
| (10) |
| (11) | The total return based on net asset value reflects the impact of the tender and repurchase by the Trust of a portion of its Auction Preferred Shares at 92% of the per share liquidation preference. Absent this transaction, the total return based on net asset value would have been 3.71%. |
| (12) | The total return based on net asset value reflects the impact of the tender and repurchase by the Trust of a portion of its Auction Preferred Shares at 95% of the per share liquidation preference. Absent this transaction, the total return based on net asset value would have been 13.00%. |
| (13) | Excludes the effect of custody fee credits, if any, of less than 0.005%. Effective September 1, 2015, custody fee credits, which were earned on cash deposit balances, were discontinued by the custodian. |
| † | Ratios based on net assets applicable to common shares plus preferred shares and borrowings are presented below. Ratios do not reflect the effect of dividend payments to preferred shareholders and exclude the effect of custody fee credits, if any. |
| Year Ended June 30, | ||||||||||
| 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
| Expenses excluding interest and fees | 1.30% | 1.29% | 1.28% | 1.25% | 1.11% | 1.12% | 1.17% | 1.21% | 1.21% | 1.21% |
| Interest and fee expense | 0.78% | 0.68% | 0.32% | 0.36% | 0.76% | 0.91% | 0.54% | 0.34% | 0.17% | 0.17% |
| Total expenses | 2.08% | 1.97% | 1.60% | 1.61% | 1.87% | 2.03% | 1.71% | 1.55% | 1.38% | 1.38% |
| Net investment income | 8.23% | 7.23% | 3.57% | 3.87% | 3.81% | 3.73% | 3.46% | 3.72% | 3.93% | 3.42% |
September 11, 2024