Franklin Universal Trust 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.