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Eaton Vance Corp. Announces Pricing of Senior Notes Offering

BOSTON, April 3, 2017 /PRNewswire/ -- Eaton Vance Corp. (EV) (the "Company") announced today that it has priced the previously announced public offering of $300 million aggregate principal amount of its 3.500% notes due April 6, 2027 (the "Senior Notes") at an issue price of 99.632% of their principal amount. The public offering is being made pursuant to an effective registration statement on file with the U.S. Securities and Exchange Commission ("SEC") and is expected to close on April 6, 2017, subject to customary closing conditions.

The Company expects to receive net proceeds, after the underwriting discount, of approximately $297 million. The net proceeds from the public offering will be used to redeem all of the outstanding $250 million aggregate principal amount of the Company's 6.50% Senior Notes due 2017 that mature on October 2, 2017 and to pay accrued interest, fees and expenses associated with the redemption. The remaining net proceeds will be used for general corporate purposes, which may include working capital, capital expenditures, repurchases of the Company's non-voting common stock, repayment of indebtedness and potential acquisitions.

Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. LLC, Citigroup Global Markets Inc. and Wells Fargo Securities, LLC are acting as joint book-running managers and Barclays Capital Inc. and Scotia Capital (USA) Inc. are acting as co-managers for the offering. 

The offering of the Senior Notes may be made only by means of a prospectus. A copy of the prospectus relating to the Senior Notes can be obtained from Merrill Lynch, Pierce, Fenner & Smith Incorporated, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, Attention: Prospectus Department or by emailing dg.prospectus_requests@baml.com; or Morgan Stanley & Co. LLC, 180 Varick Street, Second Floor, New York, NY 10014, Attention: Prospectus Department (telephone: (866) 718-1649) or by emailing prospectus@morganstanley.com.

This press release does not constitute an offer to sell or an offer to purchase, or the solicitation of an offer to sell or an offer to purchase, or the solicitation of the Senior Notes or any other securities, nor shall there be any sale of securities mentioned in this press release in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About Eaton Vance
Eaton Vance Corp. is a leading global asset manager whose history dates to 1924. With offices in North America, Europe, Asia and Australia, Eaton Vance and its affiliates managed $363.7 billion in assets as of January 31, 2017, offering individuals and institutions a broad array of investment strategies and wealth management solutions.

Forward-Looking Statements
Certain information contained in this press release may include forward-looking statements, including, but not limited to, statements that are considered "forward-looking statements" within the meaning of United States securities laws, including the statements regarding the closing of the offering of Senior Notes and expected use of net proceeds. Any statements contained in or incorporated by reference into this press release that are not statements of historical fact should be considered forward-looking statements.  These statements are often identified by the use of words such as "may," "will," "expect," "believe," "anticipate," "intend," "could," "should," "estimate" or "continue," and similar expressions or variations. These statements are based on the beliefs and assumptions of the Company's management based on information currently available to management. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Actual results and the timing of events could differ materially from those currently anticipated as a result of risks and uncertainties, including but not limited to changes in market conditions and interest rates.  Actual results could be affected by the factors discussed or referenced in the Company's prospectus, annual report on Form 10-K for the year ended October 31, 2016 and quarterly report on Form 10-Q for the quarterly period ended January 31, 2017 filed with the SEC, under the heading "Risk Factors" and elsewhere, and any subsequent periodic or current reports filed by the Company with the SEC.  Forward-looking statements speak only as of the date of this press release.  The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements.

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