UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF
REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-5440
MFS INTERMEDIATE INCOME TRUST
(Exact name of registrant as specified in charter)
500 Boylston Street, Boston, Massachusetts 02116
(Address of principal executive offices) (Zip code)
Susan S. Newton
Massachusetts Financial Services Company
500 Boylston Street
Boston, Massachusetts 02116
(Name and address of agents for service)
Registrant’s telephone number, including area code: (617) 954-5000
Date of fiscal year end: October 31
Date of reporting period: January 31, 2009
| ITEM 1. | SCHEDULE OF INVESTMENTS. |
MFS Intermediate Income Trust
PORTFOLIO OF INVESTMENTS (Unaudited) 1/31/09
| Issuer |
Shares/Par | Value ($) | ||||
| Bonds – 98.6% |
||||||
| Agency - Other – 0.0% |
||||||
| Small Business Administration, 7.64%, 2010 |
$ | 97,034 | $ | 99,881 | ||
| Alcoholic Beverages – 0.5% |
||||||
| Anheuser-Busch Companies, Inc., 7.75%, 2019 (z) |
$ | 4,080,000 | $ | 4,138,854 | ||
| Asset Backed & Securitized – 3.0% |
||||||
| Commercial Mortgage Acceptance Corp., FRN, 1.701%, 2030 (i) |
$ | 13,433,687 | $ | 587,593 | ||
| Credit Suisse Mortgage Capital Certificate, 5.695%, 2017 |
2,000,000 | 1,221,418 | ||||
| Daimler Chrysler Auto Trust, “A2B”, FRN, 1.35%, 2011 |
2,916,828 | 2,785,370 | ||||
| Falcon Franchise Loan LLC, FRN, 3.258%, 2023 (i)(n) |
10,286,129 | 555,451 | ||||
| Ford Credit Auto Owner Trust, 1.533%, 2010 |
2,731,405 | 2,646,526 | ||||
| Ford Credit Auto Owner Trust, FRN, 0.663%, 2010 |
434,155 | 425,686 | ||||
| Greenwich Capital Commercial Funding Corp., FRN, 5.913%, 2038 |
2,000,000 | 1,387,704 | ||||
| JPMorgan Chase Commercial Mortgage Securities Corp., 5.429%, 2043 |
2,000,000 | 1,345,000 | ||||
| JPMorgan Chase Commercial Mortgage Securities Corp., FRN, 5.35%, 2043 |
4,380,726 | 2,114,261 | ||||
| JPMorgan Chase Commercial Mortgage Securities Corp., FRN, 5.475%, 2043 |
3,000,000 | 2,131,791 | ||||
| JPMorgan Chase Commercial Mortgage Securities Corp., FRN, 5.466%, 2047 |
2,500,000 | 1,091,749 | ||||
| Multi-Family Capital Access One, Inc., 6.65%, 2024 |
845,298 | 844,482 | ||||
| Nationslink Funding Corp., 5%, 2031 (z) |
2,447,411 | 2,400,356 | ||||
| Nationstar Home Equity Loan Trust, 0.519%, 2036 |
875,929 | 753,476 | ||||
| PNC Mortgage Acceptance Corp., FRN, 7.1%, 2032 (z) |
2,000,000 | 1,701,398 | ||||
| Wachovia Bank Commercial Mortgage Trust, FRN, 5.418%, 2045 |
2,000,000 | 1,442,764 | ||||
| $ | 23,435,025 | |||||
| Building – 0.5% |
||||||
| CRH America, Inc., 6.95%, 2012 |
$ | 3,275,000 | $ | 2,847,445 | ||
| CRH PLC, 8.125%, 2018 |
1,160,000 | 880,903 | ||||
| $ | 3,728,348 | |||||
| Cable TV – 0.7% |
||||||
| Comcast Corp., 5.45%, 2010 |
$ | 2,500,000 | $ | 2,539,848 | ||
| Time Warner Cable, Inc., 5.4%, 2012 |
2,670,000 | 2,588,212 | ||||
| $ | 5,128,060 | |||||
| Chemicals – 0.4% |
||||||
| PPG Industries, Inc., 5.75%, 2013 |
$ | 3,265,000 | $ | 3,305,235 | ||
| Conglomerates – 1.1% |
||||||
| Eaton Corp., 4.9%, 2013 |
$ | 2,310,000 | $ | 2,295,759 | ||
| Ingersoll-Rand Global Holding Co. Ltd., 6%, 2013 |
4,460,000 | 4,337,903 | ||||
| Textron Financial Corp., 5.125%, 2010 |
2,600,000 | 2,080,772 | ||||
| $ | 8,714,434 | |||||
| Consumer Goods & Services – 1.6% |
||||||
| Clorox Co., 5%, 2013 |
$ | 2,750,000 | $ | 2,774,085 | ||
| Procter & Gamble Co., 4.6%, 2014 |
3,060,000 | 3,239,108 | ||||
| Royal Philips Electronics N.V., 4.625%, 2013 |
3,290,000 | 3,160,654 | ||||
| Western Union Co., 5.4%, 2011 |
3,000,000 | 2,963,511 | ||||
| $ | 12,137,358 | |||||
| Emerging Market Quasi-Sovereign – 1.0% |
||||||
| Corporacion Nacional del Cobre de Chile, 4.75%, 2014 (n) |
$ | 1,312,000 | $ | 1,215,079 | ||
| Corporacion Nacional del Cobre de Chile, 4.75%, 2014 |
1,239,000 | 1,147,471 | ||||
| Pemex Project Funding Master Trust, 5.75%, 2018 |
1,863,000 | 1,583,550 | ||||
| Pemex Project Funding Master Trust, 6.625%, 2035 |
1,059,000 | 840,430 | ||||
| Petroleos Mexicanos, 8%, 2019 (n) |
1,773,000 | 1,768,567 | ||||
| Petronas Capital Ltd., 7.875%, 2022 |
1,158,000 | 1,234,853 | ||||
| $ | 7,789,950 | |||||
1
MFS Intermediate Income Trust
PORTFOLIO OF INVESTMENTS (Unaudited) 1/31/09 - continued
| Issuer |
Shares/Par | Value ($) | ||||
| Bonds – continued |
||||||
| Emerging Market Sovereign – 1.0% |
||||||
| Federative Republic of Brazil, 8%, 2018 |
$ | 183,000 | $ | 196,359 | ||
| Republic of Argentina, FRN, 3.127%, 2012 |
689,600 | 400,600 | ||||
| Republic of Panama, 9.375%, 2029 |
1,486,000 | 1,668,035 | ||||
| State of Israel, 5.125%, 2014 |
5,000,000 | 5,287,890 | ||||
| United Mexican States, 8.3%, 2031 |
279,000 | 304,110 | ||||
| $ | 7,856,994 | |||||
| Energy - Independent – 0.3% |
||||||
| XTO Energy, Inc., 5.75%, 2013 |
$ | 2,666,000 | $ | 2,631,403 | ||
| Energy - Integrated – 1.4% |
||||||
| BP Capital Markets PLC, 5.25%, 2013 |
$ | 3,150,000 | $ | 3,346,270 | ||
| ConocoPhillips, 5.75%, 2019 |
5,800,000 | 5,826,158 | ||||
| Hess Corp., 8.125%, 2019 |
1,230,000 | 1,256,659 | ||||
| Petro-Canada, 6.05%, 2018 |
904,000 | 745,185 | ||||
| $ | 11,174,272 | |||||
| Financial Institutions – 1.2% |
||||||
| General Electric Capital Corp., 4.8%, 2013 |
$ | 2,120,000 | $ | 2,067,498 | ||
| HSBC Finance Corp., 4.125%, 2009 |
3,571,000 | 3,554,591 | ||||
| NYSE Euronext, Inc., 4.8%, 2013 |
4,000,000 | 3,889,852 | ||||
| $ | 9,511,941 | |||||
| Food & Beverages – 2.6% |
||||||
| Brown-Forman Corp., 5.2%, 2012 |
$ | 4,600,000 | $ | 4,676,783 | ||
| Diageo Capital PLC, 5.125%, 2012 |
3,900,000 | 4,003,771 | ||||
| Diageo PLC, FRN, 1.587%, 2009 |
1,570,000 | 1,563,960 | ||||
| Dr Pepper Snapple Group, Inc., 6.82%, 2018 |
560,000 | 529,865 | ||||
| General Mills, Inc., 5.65%, 2019 |
960,000 | 979,166 | ||||
| Kraft Foods, Inc., 4.125%, 2009 |
3,050,000 | 3,056,408 | ||||
| Kraft Foods, Inc., 6.75%, 2014 |
1,390,000 | 1,505,934 | ||||
| Kraft Foods, Inc., 6.125%, 2018 |
1,310,000 | 1,336,926 | ||||
| SABMiller PLC, 6.2%, 2011 (z) |
2,800,000 | 2,802,120 | ||||
| $ | 20,454,933 | |||||
| Food & Drug Stores – 0.3% |
||||||
| CVS Caremark Corp., FRN, 2.502%, 2010 |
$ | 2,680,000 | $ | 2,555,945 | ||
| Industrial – 0.6% |
||||||
| Duke University Taxable Bonds, “A”, 4.2%, 2014 |
$ | 1,900,000 | $ | 1,937,886 | ||
| Princeton University, 4.95%, 2019 |
2,860,000 | 2,871,154 | ||||
| $ | 4,809,040 | |||||
| Insurance – 1.4% |
||||||
| ING Groep N.V., 5.775% to 2015, FRN to 2049 |
$ | 150,000 | $ | 57,735 | ||
| Jackson National Life Global Funding, 5.375%, 2013 (n) |
5,000,000 | 4,633,545 | ||||
| Metropolitan Life Global Funding, 5.125%, 2013 (n) |
230,000 | 220,131 | ||||
| New York Life Global Funding, 4.65%, 2013 (n) |
6,000,000 | 5,918,826 | ||||
| $ | 10,830,237 | |||||
| International Market Quasi-Sovereign – 5.4% |
||||||
| Canada Housing Trust, 4.6%, 2011 (n) |
CAD | 3,148,000 | $ | 2,735,147 | ||
| Commonwealth Bank of Australia, 2.4%, 2012 (z) |
$ | 2,410,000 | 2,403,589 | |||
| Eksportfinans A.S.A., 5.125%, 2011 |
3,780,000 | 3,903,247 | ||||
| Eksportfinans A.S.A., 1.6%, 2014 |
JPY | 350,000,000 | 3,846,657 | |||
| Electricité de France, 5.5%, 2014 (z) |
$ | 4,750,000 | 4,935,644 | |||
| KfW Bankengruppe, 5.25%, 2009 |
7,470,000 | 7,552,656 | ||||
| KfW Bankengruppe, 4.875%, 2009 |
2,800,000 | 2,857,775 | ||||
| Landwirtschaftliche Rentenbank, 5.25%, 2012 |
8,360,000 | 9,092,186 | ||||
| National Australia Bank Ltd., 2.55%, 2012 (z) |
2,410,000 | 2,413,784 | ||||
| Westpac Banking Corp., 3.25%, 2011 (z) |
2,400,000 | 2,430,483 | ||||
| $ | 42,171,168 | |||||
2
MFS Intermediate Income Trust
PORTFOLIO OF INVESTMENTS (Unaudited) 1/31/09 - continued
| Issuer |
Shares/Par | Value ($) | ||||
| Bonds – continued |
||||||
| International Market Sovereign – 31.6% |
||||||
| Federal Republic of Germany, 3.75%, 2015 |
EUR | 9,517,000 | $ | 12,839,078 | ||
| Government of Australia, 6.25%, 2015 |
AUD | 3,537,000 | 2,582,588 | |||
| Government of Canada, 4.5%, 2015 |
CAD | 4,214,000 | 3,845,677 | |||
| Government of Canada, 5.75%, 2033 |
CAD | 704,000 | 744,360 | |||
| Government of Japan, 1.5%, 2012 |
JPY | 2,977,000,000 | 34,172,123 | |||
| Government of Japan, 1.3%, 2014 |
JPY | 2,181,000,000 | 24,922,444 | |||
| Government of Japan, 1.7%, 2017 |
JPY | 2,598,000,000 | 30,436,524 | |||
| Kingdom of Denmark, 4%, 2015 |
DKK | 7,677,000 | 1,353,929 | |||
| Kingdom of Netherlands, 3.75%, 2014 |
EUR | 3,250,000 | 4,266,872 | |||
| Kingdom of Spain, 5.35%, 2011 |
EUR | 9,594,000 | 13,126,481 | |||
| Kingdom of Sweden, 4.5%, 2015 |
SEK | 9,300,000 | 1,228,546 | |||
| Province of Ontario, 5%, 2011 |
$ | 5,000,000 | 5,250,605 | |||
| Province of Ontario, 2.625%, 2012 |
1,300,000 | 1,292,399 | ||||
| Province of Ontario, 4.75%, 2016 |
6,000,000 | 6,192,108 | ||||
| Republic of Austria, 4.65%, 2018 |
EUR | 11,660,000 | 15,539,331 | |||
| Republic of France, 4.75%, 2012 |
EUR | 5,214,000 | 7,197,334 | |||
| Republic of France, 5%, 2016 |
EUR | 17,548,000 | 24,801,582 | |||
| Republic of Ireland, 4.6%, 2016 |
EUR | 17,379,000 | 21,471,022 | |||
| United Kingdom Treasury, 5%, 2012 |
GBP | 9,457,000 | 14,838,766 | |||
| United Kingdom Treasury, 8%, 2015 |
GBP | 10,364,000 | 19,079,579 | |||
| $ | 245,181,348 | |||||
| Machinery & Tools – 0.1% |
||||||
| Atlas Copco AB, 5.6%, 2017 (n) |
$ | 510,000 | $ | 458,316 | ||
| Major Banks – 2.0% |
||||||
| BAC Capital Trust XIV, 5.63% to 2012, FRN to 2049 |
$ | 2,000,000 | $ | 859,580 | ||
| Bank of America Corp., 4.9%, 2013 |
4,300,000 | 4,105,464 | ||||
| Credit Suisse (USA), Inc., 5.125%, 2015 |
2,000,000 | 1,839,048 | ||||
| Goldman Sachs Group, Inc., 7.5%, 2019 |
1,427,000 | 1,416,297 | ||||
| Merrill Lynch & Co., Inc., 6.15%, 2013 |
2,190,000 | 2,113,420 | ||||
| Morgan Stanley, 6.625%, 2018 |
1,532,000 | 1,401,953 | ||||
| Natixis S.A., 10% to 2018, FRN to 2049 (n) |
3,250,000 | 1,684,991 | ||||
| SG Capital Trust I, 7.875% to 2010, FRN to 2049 |
EUR | 375,000 | 240,075 | |||
| Wells Fargo & Co., FRN, 1.453%, 2011 |
$ | 2,250,000 | 2,150,174 | |||
| $ | 15,811,002 | |||||
| Metals & Mining – 0.4% |
||||||
| Rio Tinto Finance USA Ltd., 5.875%, 2013 |
$ | 3,690,000 | $ | 3,246,178 | ||
| Mortgage Backed – 17.7% |
||||||
| Fannie Mae, 4.56%, 2010 |
$ | 1,377,412 | $ | 1,374,504 | ||
| Fannie Mae, 6.022%, 2010 |
6,800,000 | 7,190,381 | ||||
| Fannie Mae, 4.507%, 2011 |
5,193,560 | 5,029,626 | ||||
| Fannie Mae, 4.845%, 2013 |
2,008,781 | 2,050,093 | ||||
| Fannie Mae, 4.609%, 2014 |
2,907,918 | 2,934,307 | ||||
| Fannie Mae, 4.848%, 2014 |
3,355,494 | 3,414,443 | ||||
| Fannie Mae, 5.412%, 2014 |
1,917,724 | 1,998,650 | ||||
| Fannie Mae, 4.62%, 2015 |
941,273 | 944,456 | ||||
| Fannie Mae, 4.921%, 2015 |
1,887,680 | 1,920,642 | ||||
| Fannie Mae, 4%, 2016 |
2,433,684 | 2,460,061 | ||||
| Fannie Mae, 5.395%, 2016 |
1,352,935 | 1,395,685 | ||||
| Fannie Mae, 5.423%, 2016 |
2,409,717 | 2,505,365 | ||||
| Fannie Mae, 6%, 2016 - 2034 |
15,019,531 | 15,521,252 | ||||
| Fannie Mae, 5.32%, 2017 |
1,033,796 | 1,061,150 | ||||
| Fannie Mae, 5.5%, 2017 - 2035 |
18,883,634 | 19,401,422 | ||||
| Fannie Mae, 5%, 2018 - 2025 |
8,181,233 | 8,373,228 | ||||
| Fannie Mae, 4.5%, 2019 |
7,351,059 | 7,481,287 | ||||
3
MFS Intermediate Income Trust
PORTFOLIO OF INVESTMENTS (Unaudited) 1/31/09 - continued
| Issuer |
Shares/Par | Value ($) | ||||
| Bonds – continued |
||||||
| Mortgage Backed – continued |
||||||
| Fannie Mae, 6.5%, 2031 |
4,767,139 | 5,034,269 | ||||
| Freddie Mac, 5.5%, 2017 - 2026 |
12,318,611 | 12,688,722 | ||||
| Freddie Mac, 6%, 2017 - 2034 |
1,919,734 | 2,000,725 | ||||
| Freddie Mac, 5%, 2019 - 2027 |
16,010,157 | 16,288,910 | ||||
| Freddie Mac, 4%, 2024 |
829,585 | 834,141 | ||||
| Ginnie Mae, 6%, 2033 - 2036 |
5,439,586 | 5,607,221 | ||||
| Ginnie Mae, 5.612%, 2058 |
4,622,660 | 4,668,886 | ||||
| Ginnie Mae, 6.36%, 2058 |
4,469,452 | 4,593,061 | ||||
| $ | 136,772,487 | |||||
| Natural Gas - Pipeline – 0.1% |
||||||
| Enterprise Products Operating LP, 5.65%, 2013 |
$ | 376,000 | $ | 359,088 | ||
| TransCapitalInvest Ltd., 5.67%, 2014 |
104,000 | 77,979 | ||||
| $ | 437,067 | |||||
| Network & Telecom – 2.5% |
||||||
| AT&T, Inc., 2.958%, 2010 |
$ | 3,620,000 | $ | 3,549,468 | ||
| AT&T, Inc., 4.95%, 2013 |
2,700,000 | 2,752,029 | ||||
| British Telecommunications PLC, 5.15%, 2013 |
943,000 | 869,586 | ||||
| Deutsche Telekom International Finance B.V., 8.5%, 2010 |
2,330,000 | 2,466,971 | ||||
| France Telecom S.A., 7.75%, 2011 |
2,330,000 | 2,463,523 | ||||
| Telecom Italia Capital, 4.875%, 2010 |
3,000,000 | 2,872,140 | ||||
| Verizon Communications, Inc, 5.25%, 2013 |
3,260,000 | 3,319,642 | ||||
| Verizon Communications, Inc., 8.75%, 2018 |
1,060,000 | 1,234,646 | ||||
| $ | 19,528,005 | |||||
| Other Banks & Diversified Financials – 2.1% |
||||||
| American Express Centurion Bank, 5.2%, 2010 |
$ | 2,510,000 | $ | 2,426,911 | ||
| Citigroup, Inc., 5.5%, 2013 |
8,000,000 | 7,318,192 | ||||
| Eurohypo AG, 5.125%, 2016 |
3,140,000 | 3,066,964 | ||||
| RSHB Capital S.A., 7.125%, 2014 (n) |
200,000 | 152,000 | ||||
| Swedbank AB, 9% to 2010, FRN to 2049 (n) |
5,000,000 | 2,354,030 | ||||
| UBS Preferred Funding Trust V, 6.243% to 2016, FRN to 2049 |
2,000,000 | 1,065,120 | ||||
| $ | 16,383,217 | |||||
| Pharmaceuticals – 1.5% |
||||||
| Amgen, Inc., 4%, 2009 |
$ | 2,430,000 | $ | 2,435,514 | ||
| AstraZeneca PLC, 2.463%, 2009 |
4,510,000 | 4,482,309 | ||||
| GlaxoSmithKline Capital, Inc., 4.85%, 2013 |
2,114,000 | 2,216,998 | ||||
| Wyeth, 6.95%, 2011 |
2,220,000 | 2,370,314 | ||||
| $ | 11,505,135 | |||||
| Printing & Publishing – 0.1% |
||||||
| Pearson PLC, 5.5%, 2013 (n) |
$ | 410,000 | $ | 378,967 | ||
| Railroad & Shipping – 0.4% |
||||||
| Canadian Pacific Railway Co., 6.5%, 2018 |
$ | 1,880,000 | $ | 1,664,330 | ||
| Norfolk Southern Corp., 6.2%, 2009 |
1,230,000 | 1,231,734 | ||||
| $ | 2,896,064 | |||||
| Real Estate – 0.4% |
||||||
| Kimco Realty Corp., REIT, 6.875%, 2009 |
$ | 2,680,000 | $ | 2,678,941 | ||
| Retailers – 0.6% |
||||||
| Macy’s Retail Holdings, Inc., 7.875%, 2015 |
$ | 2,670,000 | $ | 2,047,204 | ||
| Wesfarmers Ltd., 6.998%, 2013 (n) |
2,330,000 | 2,368,037 | ||||
| $ | 4,415,241 | |||||
| Supermarkets – 0.0% |
||||||
| Kroger Co., 5%, 2013 |
$ | 303,000 | $ | 302,864 | ||
4
MFS Intermediate Income Trust
PORTFOLIO OF INVESTMENTS (Unaudited) 1/31/09 - continued
| Issuer |
Shares/Par | Value ($) | ||||
| Bonds – continued |
||||||
| Supranational – 2.7% |
||||||
| Central American Bank, 4.875%, 2012 (n) |
$ | 3,800,000 | $ | 3,897,660 | ||
| Corporacion Andina de Fomento, 6.875%, 2012 |
6,000,000 | 5,766,912 | ||||
| Corporacion Andina de Fomento, 5.2%, 2013 |
3,000,000 | 2,650,137 | ||||
| Inter-American Development Bank, 8.875%, 2009 |
2,220,000 | 2,266,653 | ||||
| Inter-American Development Bank, 4.75%, 2012 |
5,640,000 | 6,044,794 | ||||
| $ | 20,626,156 | |||||
| Telecommunications - Wireless – 1.2% |
||||||
| Rogers Communications, Inc., 6.8%, 2018 |
$ | 4,950,000 | $ | 5,148,891 | ||
| Vodafone Group PLC, 7.75%, 2010 |
3,680,000 | 3,804,535 | ||||
| $ | 8,953,426 | |||||
| Tobacco – 0.6% |
||||||
| Philip Morris International, Inc., 4.875%, 2013 |
$ | 4,620,000 | $ | 4,748,103 | ||
| U.S. Government Agencies and Equivalents – 6.1% |
||||||
| Aid-Egypt, 4.45%, 2015 |
$ | 3,963,000 | $ | 4,193,052 | ||
| Bank of America Corp., 2.1%, 2012 (a) |
4,320,000 | 4,276,666 | ||||
| Citigroup, Inc., 2.875%, 2011 (a) |
2,520,000 | 2,569,906 | ||||
| Farmer Mac, 5.5%, 2011 (n) |
6,070,000 | 6,477,558 | ||||
| Freddie Mac, 6.875%, 2010 |
2,337,000 | 2,530,328 | ||||
| General Electric Capital Corp., 2.2%, 2012 (a) |
1,410,000 | 1,398,397 | ||||
| Goldman Sachs Group, Inc., 3.25%, 2012 (a) |
1,770,000 | 1,816,436 | ||||
| Small Business Administration, 5.34%, 2021 |
4,158,563 | 4,310,523 | ||||
| Small Business Administration, 6.34%, 2021 |
1,560,800 | 1,661,216 | ||||
| Small Business Administration, 6.35%, 2021 |
2,200,920 | 2,340,860 | ||||
| Small Business Administration, 6.44%, 2021 |
1,429,736 | 1,527,463 | ||||
| Small Business Administration, 6.625%, 2021 |
1,915,406 | 2,059,268 | ||||
| Small Business Administration, 4.93%, 2024 |
1,775,848 | 1,830,190 | ||||
| Small Business Administration, 5.36%, 2025 |
2,169,675 | 2,280,485 | ||||
| Small Business Administration, 5.39%, 2025 |
1,590,707 | 1,662,588 | ||||
| U.S. Department of Housing & Urban Development, 7.198%, 2009 |
6,000,000 | 6,194,994 | ||||
| $ | 47,129,930 | |||||
| U.S. Treasury Obligations – 1.4% |
||||||
| U.S. Treasury Bonds, 10.625%, 2015 |
$ | 5,190,000 | $ | 7,690,931 | ||
| U.S. Treasury Notes, 9.875%, 2015 (f) |
2,000,000 | 2,878,906 | ||||
| $ | 10,569,837 | |||||
| Utilities - Electric Power – 3.4% |
||||||
| Dominion Resources, Inc., 6.4%, 2018 |
$ | 430,000 | $ | 434,661 | ||
| Duke Energy Corp., 5.65%, 2013 |
1,800,000 | 1,761,692 | ||||
| E.ON International Finance B.V., 5.8%, 2018 (n) |
7,000,000 | 6,759,725 | ||||
| EDP Finance B.V., 6%, 2018 (n) |
2,240,000 | 1,950,818 | ||||
| Enel Finance International S.A., 6.25%, 2017 (n) |
2,240,000 | 1,987,075 | ||||
| Exelon Generation Co. LLC, 6.95%, 2011 |
2,250,000 | 2,242,305 | ||||
| Georgia Power Co., 6%, 2013 |
1,350,000 | 1,464,742 | ||||
| HQI Transelec Chile S.A., 7.875%, 2011 |
2,926,000 | 2,916,833 | ||||
| NiSource Finance Corp., 7.875%, 2010 |
3,500,000 | 3,326,439 | ||||
| Oncor Electric Delivery Co., 5.95%, 2013 (n) |
3,570,000 | 3,491,496 | ||||
| $ | 26,335,786 | |||||
| Utilities - Gas – 0.7% |
||||||
| Keyspan Corp., 7.625%, 2010 |
$ | 3,000,000 | $ | 3,119,052 | ||
| Sempra Energy, 7.95%, 2010 |
2,290,000 | 2,353,568 | ||||
| $ | 5,472,620 | |||||
| Total Bonds |
$ | 764,303,768 | ||||
5
MFS Intermediate Income Trust
PORTFOLIO OF INVESTMENTS (Unaudited) 1/31/09 - continued
| Issuer |
Shares/Par | Value ($) | |||
| Money Market Funds (v) – 0.2% |
|||||
| MFS Institutional Money Market Portfolio, 0.44%, |
1,956,484 | $ | 1,956,484 | ||
| Total Investments |
$ | 766,260,252 | |||
| Other Assets, Less Liabilities – 1.2% |
8,945,741 | ||||
| Net Assets – 100.0% |
$ | 775,205,993 | |||
| (a) | The debt is guaranteed under the Federal Deposit Insurance Corporation's (FDIC) Temporary Liquidity Guarantee Program and is backed by the full faith and credit of the United States. The expiration date of the FDIC's guarantee is the earlier of the maturity date of the debt or June 30, 2012. |
| (f) | All or a portion of the security has been segregated as collateral for open futures contracts. |
| (i) | Interest only security for which the fund receives interest on notional principal (Par amount). Par amount shown is the notional principal and does not reflect the cost of the security. |
| (n) | Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in the ordinary course of business in transactions exempt from registration, normally to qualified institutional buyers. At period end, the aggregate value of these securities was $49,007,419, representing 6.3% of net assets. |
| (v) | Underlying fund that is available only to investment companies managed by MFS. The rate quoted is the annualized seven- day yield of the fund at period end. |
| (z) | Restricted securities are not registered under the Securities Act of 1933 and are subject to legal restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are subsequently registered. Disposal of these securities may involve time-consuming negotiations and prompt sale at an acceptable price may be difficult. The fund holds the following restricted securities: |
| Restricted Securities |
Acquisition Date |
Cost | Current Market Value |
||||||
| Anheuser-Busch Companies, Inc., 7.75%, 2019 |
1/07/09 | $ | 4,076,858 | $ | 4,138,854 | ||||
| Commonwealth Bank of Australia, 2.4%, 2012 |
1/08/09 | 2,406,891 | 2,403,589 | ||||||
| Electricité de France, 5.5%, 2014 |
1/21/09 | 4,731,142 | 4,935,644 | ||||||
| National Australia Bank Ltd., 2.55%, 2012 |
1/06/09 | 2,406,674 | 2,413,784 | ||||||
| Nationslink Funding Corp., 5%, 2031 |
3/07/08 | 2,380,107 | 2,400,356 | ||||||
| PNC Mortgage Acceptance Corp., FRN, 7.1%, 2032 |
3/25/08 | 2,000,000 | 1,701,398 | ||||||
| SABmiller PLC, 6.2%, 2011 |
1/09/09 | 2,789,892 | 2,802,120 | ||||||
| Westpac Banking Corp., 3.25%, 2011 |
12/09/08 | 2,400,000 | 2,430,483 | ||||||
| Total Restricted Securities |
$ | 23,226,228 | |||||||
| % of Net Assets |
3 | % | |||||||
The following abbreviations are used in this report and are defined:
| FRN |
Floating Rate Note. Interest rate resets periodically and may not be the rate reported at period end. | |
| REIT |
Real Estate Investment Trust |
Abbreviations indicate amounts shown in currencies other than the U.S. dollar. All amounts are stated in U.S. dollars unless otherwise indicated. A list of abbreviations is shown below:
| AUD |
Australian Dollar | |
| CAD |
Canadian Dollar | |
| DKK |
Danish Krone | |
| EUR |
Euro | |
| GBP |
British Pound | |
| JPY |
Japanese Yen | |
| SEK |
Swedish Krona |
See attached supplemental information. For more information see notes to financial statements as disclosed in the most recent semiannual or annual report.
6
MFS Intermediate Income Trust
Supplemental Information (Unaudited) 1/31/09
(1) Fair Value Disclosure
The fund adopted FASB Statement No. 157, Fair Value Measurements (the “Statement”). This Statement provides a single definition of fair value, a hierarchy for measuring fair value and expanded disclosures about fair value measurements.
Various inputs are used in determining the value of the fund's assets or liabilities carried at market value. These inputs are categorized into three broad levels. Level 1 includes quoted prices in active markets for identical assets or liabilities. Level 2 includes other significant observable market-based inputs (including quoted prices for similar securities, interest rates, prepayment speed, and credit risk). Level 3 includes unobservable inputs, which may include the adviser's own assumptions in determining the fair value of investments. Other financial instruments are derivative instruments not reflected in total investments, such as futures, forwards, swap contracts, and written options. The following is a summary of the levels used as of January 31, 2009 in valuing the fund's assets or liabilities carried at market value:
| Level 1 | Level 2 | Level 3 | Total | |||||||||
| Investments in Securities |
$ | 1,956,484 | $ | 764,303,768 | $ | — | $ | 766,260,252 | ||||
| Other Financial Instruments |
$ | 578,834 | $ | 11,921,181 | $ | — | $ | 12,500,015 | ||||
(2) Portfolio Securities
The cost and unrealized appreciation and depreciation in the value of the investments owned by the fund, as computed on a federal income tax basis, are as follows:
| Aggregate Cost |
$ | 779,323,681 | ||
| Gross unrealized appreciation |
$ | 25,962,031 | ||
| Gross unrealized depreciation |
(39,025,460 | ) | ||
| Net unrealized appreciation (depreciation) |
$ | (13,063,429 | ) | |
The aggregate cost above includes prior fiscal year end tax adjustments.
(3) Derivative Contracts at 1/31/09
Forward Foreign Currency Exchange Contracts at 1/31/09
| Type | Currency | Contracts to Deliver/Receive |
Settlement Date Range |
In Exchange For | Contracts at Value |
Net Unrealized Appreciation (Depreciation) |
||||||||||
| Appreciation | ||||||||||||||||
| SELL | AUD | 3,751,115 | 3/06/09 | $ | 2,555,269 | $ | 2,377,849 | $ | 177,420 | |||||||
| SELL | CAD | 8,620,203 | 2/19/09 | 7,189,194 | 7,028,475 | 160,719 | ||||||||||
| SELL | DKK | 8,078,780 | 3/06/09 | 1,497,818 | 1,385,337 | 112,481 | ||||||||||
| SELL | EUR | 80,009,925 | 2/19/09 | 114,530,207 | 102,419,549 | 12,110,658 | ||||||||||
| SELL | GBP | 21,880,675 | 2/17/09 | 32,533,720 | 31,702,466 | 831,254 | ||||||||||
| SELL | SEK | 9,536,157 | 2/27/09 | 1,195,457 | 1,139,338 | 56,119 | ||||||||||
| $ | 13,448,651 | |||||||||||||||
| Depreciation | ||||||||||||||||
| BUY | EUR | 3,008,179 | 2/19/09 | $ | 4,312,075 | $ | 3,850,727 | $ | (461,348 | ) | ||||||
| SELL | JPY | 8,167,172,156 | 2/17/09 | 89,854,798 | 90,935,756 | (1,080,958 | ) | |||||||||
| $ | (1,542,306 | ) | ||||||||||||||
7
MFS Intermediate Income Trust
Supplemental Information (Unaudited) 1/31/09 - Continued
Futures contracts outstanding at 1/31/09
| Description |
Contracts | Value | Expiration Date |
Unrealized Appreciation (Depreciation) | |||||
| U.S. Treasury Note 10 yr (Long) |
110 | 13,493,906 | Mar-09 | $ | 578,834 | ||||
Swap Agreements at 1/31/09
| Expiration |
Notional Amount |
Counterparty |
Cash Flows to Receive |
Cash Flows to Pay | Value | ||||||||||
| Credit Default Swaps |
|||||||||||||||
| 12/20/13 |
USD | 2,880,000 | (a) | Merrill Lynch International | (1) | 2.0% (fixed rate) | $ | (126,132 | ) | ||||||
| 12/20/13 |
USD | 2,050,000 | JPMorgan Chase Bank | (2) | 0.78% (fixed rate) | 100,340 | |||||||||
| 3/20/14 |
USD | 1,820,000 | Morgan Stanely Capital Services, Inc. | (3) | 1.75% (fixed rate) | 40,628 | |||||||||
| $ | 14,836 | ||||||||||||||
| (1) | Fund, as protection buyer, to receive notional amount upon a defined credit event by Aetna, Inc., 6.625%, 6/15/36. |
| (2) | Fund, as protection buyer, to receive notional amount upon a defined credit event by Arrow Electronic, Inc., 6.875%, 6/01/18. |
| (3) | Fund, as protection buyer, to receive notional amount upon a defined credit event by Weyerhauser Corp., 7.125%, 7/15/23. |
| (a) | Net unamortized premiums paid by the fund amounted to $160. |
At January 31, 2009, the fund had sufficient cash and/or other liquid securities to cover any commitments under these derivative contracts.
(4) Transactions in Underlying Funds-Affiliated Issuers
An affiliated issuer may be considered one in which the fund owns 5% or more of the outstanding voting securities, or a company which is under common control. For the purposes of this report, the transactions in securities which the fund assumes to be affiliated issuers during the three months ended January 31, 2009, is set forth below:
| Underlying Funds |
Beginning Shares/Par Amount |
Acquisitions Shares/Par Amount |
Dispositions Shares/Par Amount |
Ending Shares/Par Amount | ||||||||
| MFS Institutional Money Market Portfolio |
— | 9,945,737 | (7,989,253 | ) | 1,956,484 | |||||||
| Underlying Funds |
Realized Gain (Loss) |
Capital Gain Distributions |
Dividend Income |
Ending Value | ||||||||
| MFS Institutional Money Market Portfolio |
— | $ | — | $ | 792 | $ | 1,956,484 | |||||
8
MFS Intermediate Income Trust
Supplemental Information (Unaudited) 1/31/09 - Continued
(5) Country Weightings
Country weighting percentages of portfolio holdings based on total net assets as of January 31, 2009, are as follows:
| United States |
51.4 | % | |
| Japan |
11.6 | % | |
| United Kingdom |
7.3 | % | |
| Germany |
5.8 | % | |
| France |
5.4 | % | |
| Canada |
3.6 | % | |
| Ireland |
2.9 | % | |
| Austria |
2.0 | % | |
| Australia |
2.0 | % | |
| Other Countries |
8.0 | % |
The country weighting percentages include both accrued interest amounts and the equivalent exposure from any derivative holdings, if applicable.
9
| ITEM 2. | CONTROLS AND PROCEDURES. |
| (a) | Based upon their evaluation of the effectiveness of the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the “Act”)) as conducted within 90 days of the filing date of this Form N-Q, the registrant’s principal financial officer and principal executive officer have concluded that those disclosure controls and procedures provide reasonable assurance that the material information required to be disclosed by the registrant on this report is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms. |
| (b) | There were no changes in the registrant’s internal controls over financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting. |
| ITEM 3. | EXHIBITS. |
File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Act (17 CFR 270.30a-2): Attached hereto.
Notice
A copy of the Amended and Restated Declaration of Trust, as amended, of the Registrant is on file with the Secretary of State of The Commonwealth of Massachusetts and notice is hereby given that this instrument is executed on behalf of the Registrant by an officer of the Registrant as an officer and not individually and the obligations of or arising out of this instrument are not binding upon any of the Trustees or shareholders individually, but are binding only upon the assets and property of the respective constituent series of the Registrant.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Registrant: MFS INTERMEDIATE INCOME TRUST
| By (Signature and Title)* | MARIA F. DWYER | |
| Maria F. Dwyer, President |
Date: March 18, 2009
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
| By (Signature and Title)* | MARIA F. DWYER | |
| Maria F. Dwyer, President (Principal Executive Officer) |
Date: March 18, 2009
| By (Signature and Title)* | JOHN M. CORCORAN | |
| John M. Corcoran, Treasurer (Principal Financial Officer and Accounting Officer) |
Date: March 18, 2009
| * | Print name and title of each signing officer under his or her signature. |