N-2
N-2 - USD ($) | 12 Months Ended | |||||||||||
Mar. 31, 2023 | Oct. 31, 2023 | Oct. 31, 2022 | Oct. 31, 2021 | Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | Oct. 31, 2017 | Oct. 31, 2016 | Oct. 31, 2015 | Oct. 31, 2014 | ||
Cover [Abstract] | ||||||||||||
Entity Central Index Key | 0001258623 | |||||||||||
Amendment Flag | false | |||||||||||
Document Type | 424B3 | |||||||||||
Entity Registrant Name | EATON VANCE SENIOR FLOATING RATE TRUST | |||||||||||
Financial Highlights [Abstract] | ||||||||||||
Senior Securities [Table Text Block] | Year Ended October 31, 2023 2022 2021 2020 2019 Net asset value - Beginning of year (Common shares) $12.280 $14.300 $13.500 $14.510 $15.370 Income (Loss) From Operations Net investment income (1) $ 1.448 $ 0.917 $ 0.721 $ 0.816 $ 0.987 Net realized and unrealized gain (loss) 0.441 (1.934) 0.907 (0.874) (0.796) Distributions to preferred shareholders From net investment income (1) (0.203) (0.045) (0.003) (0.028) (0.072) Total income (loss) from operations $ 1.686 $(1.062) $ 1.625 $(0.086) $ 0.119 Less Distributions to Common Shareholders From net investment income $(1.196) $(0.875) $(0.806) $(0.924) $(0.979) Tax return on capital — (0.100) (0.056) — — Total distributions to common shareholders $(1.196) $(0.975) $(0.862) $(0.924) $(0.979) Premium from common shares sold through shelf offering (1) $ — $ $ 0.001 $ — $ — Discount on tender offer (1) $ — $ — $ 0.036 $ — $ — Net asset value — End of year (Common shares) $ 12.770 $ 12.280 $ 14.300 $ 13.500 $ 14.510 Market value — End of year (Common shares) $ 11.640 $ 11.170 $ 14.900 $ 11.900 $ 12.910 Total Investment Return on Net Asset Value (2) 15.09% (7.26)% 12.69% 0.42% 1.69% Total Investment Return on Market Value (2) 15.34% (19.10)% 33.21% (0.52)% 3.55% Ratios/Supplemental Data Net assets applicable to common shares, end of year (000’s omitted) $372,481 $358,405 $403,589 $497,341 $534,714 Ratios (as a percentage of average daily net assets applicable to common shares): (5)† Expenses excluding interest and fees 1.34% 1.37% 1.33% 1.32% 1.28% Interest and fee expense (7) 1.95% 0.81% 0.46% 0.78% 1.40% Total expenses 3.29% (8) 2.18% (8) 1.79% 2.10% 2.68% Net investment income 11.37% 6.83% 5.05% 6.03% 6.64% Portfolio Turnover 24% 12% 66% 30% 28% Senior Securities: Total notes payable outstanding (in 000’s) $110,000 $133,000 $120,000 $223,000 $218,000 Asset coverage per $1,000 of notes payable (9) $ 5,076 $ 4,265 $ 4,995 $ 3,570 $ 3,801 Total preferred shares outstanding 3,032 3,032 3,032 3,032 3,032 Asset coverage per preferred share (10) $ 75,134 $ 67,924 $ 76,531 $ 66,612 $ 70,501 Involuntary liquidation preference per preferred share (11) $ 25,000 $ 25,000 $ 25,000 $ 25,000 $ 25,000 Approximate market value per preferred share (11) $ 25,000 $ 25,000 $ 25,000 $ 25,000 $ 25,000 Year Ended October 31, 2018 2017 2016 2015 2014 Net asset value - Beginning of year (Common shares) $15.210 $14.860 $14.350 $15.330 $15.810 Income (Loss) From Operations Net investment income (1) $ 0.885 $ 0.898 $ 0.963 $ 0.943 $ 0.925 Net realized and unrealized gain (loss) 0.153 0.359 0.459 (0.979) (0.414) Distributions to preferred shareholders (1) (0.066) (0.034) (0.019) (0.006) (0.004) Discount on redemption and repurchase of auction preferred shares (1) 0.044 — 0.048 — — Total income (loss) from operations $ 1.016 $ 1.223 $ 1.451 $(0.042) $ 0.507 Less Distributions to Common Shareholders From net investment income $(0.856) $(0.873) $(0.941) $(0.938) $(0.987) Total distributions to common shareholders $(0.856) $(0.873) $(0.941) $(0.938) $(0.987) Premium from common shares sold through shelf offering (1) $ — $ — $ — $ — $ — Net asset value — End of year (Common shares) $ 15.370 $ 15.210 $ 14.860 $ 14.350 $ 15.330 Market value — End of year (Common shares) $ 13.430 $ 14.550 $ 14.150 $ 12.970 $ 14.050 Total Investment Return on Net Asset Value (2) 7.25% (3) 8.54% 11.31% (4) 0.15% 3.60% Total Investment Return on Market Value (2) (2.04)% 9.04% 17.27% (1.24)% (4.99)% Ratios/Supplemental Data Net assets applicable to common shares, end of year (000’s omitted) $566,490 $560,431 $547,620 $528,561 $564,827 Ratios (as a percentage of average daily net assets applicable to common shares): (5)† Expenses excluding interest and fees (6) 1.31% 1.34% 1.38% 1.39% 1.36% Interest and fee expense (7) 1.06% 0.75% 0.49% 0.42% 0.40% Total expenses 2.37% 2.09% 1.87% 1.81% 1.76% Net investment income 5.78% 5.93% 6.84% 6.27% 5.89% Portfolio Turnover 32% 42% 35% 32% 35% Senior Securities: Total notes payable outstanding (in 000’s) $222,000 $199,000 $198,000 $208,000 $210,000 Asset coverage per $1,000 of notes payable (9) $ 3,893 $ 4,298 $ 4,250 $ 4,172 $ 4,315 Total preferred shares outstanding 3,032 3,836 3,836 5,252 5,252 Asset coverage per preferred share (10) $ 72,558 $ 72,511 $ 71,584 $ 63,946 $ 66,374 Involuntary liquidation preference per preferred share (11) $ 25,000 $ 25,000 $ 25,000 $ 25,000 $ 25,000 Approximate market value per preferred share (11) $ 25,000 $ 25,000 $ 25,000 $ 25,000 $ 25,000 (1) Computed using average shares outstanding. (2) 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. (3) The total return based on net asset value reflects the impact of the tender and repurchase by the Trust of a portion of its APS at 92% of the per share liquidation preference. Absent this transaction, the total return based on net asset value would have been 6.94%. (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 APS at 95% of the per share liquidation preference. Absent this transaction, the total return based on net asset value would have been 10.95%. (5) Ratios do not reflect the effect of dividend payments to preferred shareholders. (6) 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. (7) Interest and fee expense relates to the notes payable incurred to partially redeem the Trust’s APS. (8) Includes a reduction by the investment adviser of a portion of its adviser fee due to the Trust’s investment in the Morgan Stanley Institutional Liquidity Funds – Government Portfolio (equal to less than 0.005% of average daily net assets for the years ended October 31, 2023 and 2022). (9) Calculated by subtracting the Trust’s total liabilities (not including the notes payable and preferred shares) from the Trust’s total assets, and dividing the result by the notes payable balance in thousands. (10) 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 preferred shares, and multiplying the result by the liquidation value of one preferred share. Such amount equates to 301%, 272%, 306%, 266%, 282%, 290%, 290%, 286%, 256% and 265% at October 31, 2023, 2022, 2021, 2020, 2019, 2018, 2017, 2016, 2015 and 2014, respectively. (11) Plus accumulated and unpaid dividends. † 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. | |||||||||||
Senior Securities Amount | $ 110,000 | $ 133,000 | $ 120,000 | $ 223,000 | $ 218,000 | $ 222,000 | $ 199,000 | $ 198,000 | $ 208,000 | $ 210,000 | ||
Senior Securities Coverage per Unit | [1] | $ 5,076 | $ 4,265 | $ 4,995 | $ 3,570 | $ 3,801 | $ 3,893 | $ 4,298 | $ 4,250 | $ 4,172 | $ 4,315 | |
Preferred Stock Liquidating Preference | [2] | 25,000 | 25,000 | 25,000 | 25,000 | 25,000 | 25,000 | 25,000 | 25,000 | 25,000 | 25,000 | |
Senior Securities Average Market Value per Unit | [2] | $ 25,000 | $ 25,000 | $ 25,000 | $ 25,000 | $ 25,000 | $ 25,000 | $ 25,000 | $ 25,000 | $ 25,000 | $ 25,000 | |
[1]Calculated by subtracting the Trust’s total liabilities (not including the notes payable and preferred shares) from the Trust’s total assets, and dividing the result by the notes payable balance in thousands.[2]Plus accumulated and unpaid dividends. |