SAN MATEO, CA--(Marketwired - Aug 28, 2013) - Franklin Universal Trust ( NYSE : FT ), a closed-end investment company managed by Franklin Advisers, Inc., today announced that the Trust has refinanced its 5.87% senior fixed rate notes due August 28, 2013, which had an outstanding principal balance of $42 million. The Trust has issued new 2.87% senior fixed rate notes due August 28, 2018, in the principal amount of $60 million, in a private placement. The proceeds of these new notes have been used to retire the 5.87% senior fixed rate notes and will be used for general fund purposes. As a result of the refinancing, the Trust currently has $60 million in notes outstanding. The Trust's total net assets were $197.7 million as of July 31, 2013.
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 solutions managed by its Franklin, Templeton, Mutual Series, Bissett, Fiduciary Trust, Darby, Balanced Equity Management and K2 investment teams. The San Mateo, CA-based company has more than 65 years of investment experience and over $834 billion in assets under management as of July 31, 2013. For more information, please call 1-800/DIAL BEN® or visit franklintempleton.com.