ING Floating Rate Senior Loan Fund (TSX:ISL.UN) announces an Equity Buyback for 1,770,234 Class A units and 574,428 Class U units, representing 10% of the public float.

ING Floating Rate Senior Loan Fund (TSX:ISL.UN) announces a share repurchase program. Under the program, the company will repurchase up to 1,770,234 Class A units and 412,800 Class U units, representing 10% of the public float. The fund may repurchase through the facilities of the TSX or other eligible alternative market and may only be purchased at a price per Class A and Class U unit not exceeding last published net asset value per Class A and Class U unit.

The repurchased shares will be cancelled. The company also received approval from the Toronto Stock Exchange. The Manager of the fund believes that such purchases are in the best interest of the fund and are a desirable use of its available funds.

The repurchases will commence from March 19, 2015 and continue up to March 18, 2016. As of March 6, 2015, Fund has outstanding unit balance of 17,724,142 Class A units and 4,139,006 Class U units.