Certain Closed-End Funds Advised by Legg Mason Partners Fund Advisor Adopt Share Repurchase Programs
17 November 2015 - 12:00AM
Business Wire
Legg Mason Partners Fund Advisor, LLC:
ClearBridge American Energy MLP Fund Inc.
(NYSE: CBA),
ClearBridge Energy MLP Fund Inc. (NYSE:
CEM),
ClearBridge Energy MLP Opportunity Fund Inc.
(NYSE: EMO),
ClearBridge Energy MLP Total Return Fund
Inc. (NYSE: CTR),
Legg Mason BW Global Income Opportunities
Fund Inc. (NYSE: BWG),
LMP Capital and Income Fund Inc. (NYSE:
SCD),
LMP Corporate Loan Fund Inc. (NYSE:
TLI),
Western Asset Emerging Markets Debt Fund
Inc. (NYSE: ESD),
Western Asset Emerging Markets Income Fund
Inc. (NYSE: EMD),
Western Asset Global High Income Fund Inc.
(NYSE: EHI),
Western Asset Global Partners Income Fund
Inc. (NYSE: GDF),
Western Asset High Income Fund II Inc.
(NYSE: HIX),
Western Asset High Income Opportunity Fund
Inc. (NYSE: HIO),
Western Asset High Yield Defined Opportunity
Fund Inc. (NYSE: HYI),
Western Asset Intermediate Muni Fund Inc.
(NYSE: SBI),
Western Asset Investment Grade Defined
Opportunity Trust Inc. (NYSE: IGI),
Western Asset Managed High Income Fund Inc.
(NYSE: MHY),
Western Asset Managed Municipals Fund Inc.
(NYSE: MMU),
Western Asset Mortgage Defined Opportunity
Fund Inc. (NYSE: DMO),
Western Asset Municipal Defined Opportunity
Trust Inc. (NYSE: MTT),
Western Asset Municipal High Income Fund
Inc. (NYSE: MHF),
Western Asset Municipal Partners Fund Inc.
(NYSE: MNP),
Western Asset Variable Rate Strategic Fund
Inc. (NYSE: GFY), and
Western Asset Worldwide Income Fund Inc.
(NYSE: SBW) (together, the “Funds”).
The Funds announced today that the Board of Directors of each
Fund has authorized each Fund to repurchase in the open market up
to approximately 10% of each Fund’s outstanding common stock when
the Fund’s shares are trading at a discount to net asset value. The
Board of Directors of each Fund has directed management of the Fund
to repurchase shares of common stock at such times and in such
amounts as management reasonably believes may enhance stockholder
value. The Funds are under no obligation to purchase shares at any
specific discount levels or in any specific amounts. Each Fund's
repurchase activity will be disclosed in its stockholder report for
the relevant fiscal period.
Each Fund is managed by Legg Mason Partners Fund Advisor, LLC, a
wholly owned subsidiary of Legg Mason, Inc., and sub-advised by
other affiliates of Legg Mason, Inc.
Contact each Fund at 1-888-777-0102 for additional information,
or consult the Funds’ web site at www.lmcef.com. Hard copies of
each Fund’s complete audited financial statements are available
free of charge upon request.
Data and commentary provided in this press release are for
informational purposes only. Legg Mason and its affiliates do not
engage in selling shares of the Funds.
This press release may contain statements regarding plans and
expectations for the future that constitute forward-looking
statements within the Private Securities Litigation Reform Act of
1995. All statements other than statements of historical fact are
forward-looking and can be identified by the use of words such as
"may," "will," "expect," "anticipate," "estimate," "believe,"
"continue" or other similar words. Such forward-looking statements
are based on the Funds’ current plans and expectations, and are
subject to risks and uncertainties that could cause actual results
to differ materially from those described in the forward-looking
statements. Additional information concerning such risks and
uncertainties are contained in each Fund’s filings with the
Securities and Exchange Commission.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20151116005249/en/
Legg Mason Partners Fund Advisor, LLCMaria Rosati,
212-805-6036mrosati@leggmason.com
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