ClearBridge Energy MLP Opportunity Fund Inc. (the “Fund”) (NYSE: EMO)
announced today that it completed a private placement of $70 million of
fixed-rate Mandatory Redeemable Preferred Stock on March 26, 2015. Net
proceeds from the offering will be used to make new portfolio
investments and for general corporate purposes.
The table below summarizes the key terms of the offering.
|
Security
|
|
Aggregate
Amount
|
|
Shares
|
|
Rate
|
|
Liquidation Preference
|
|
Term Redemption Date
|
|
Mandatory Redeemable Preferred Stock
|
|
|
|
Series A
|
|
$15 million
|
|
150
|
|
3.69
|
%
|
|
$
|
100,000
|
|
3/26/20
|
|
Series B
|
|
$12.5 million
|
|
125
|
|
4.07
|
%
|
|
$
|
100,000
|
|
3/28/22
|
|
Series C
|
|
$42.5 million
|
|
425
|
|
4.26
|
%
|
|
$
|
100,000
|
|
3/26/24
|
For more information, please contact the Fund at 1-888-777-0102 or visit
the Fund’s website at: www.lmcef.com.
Hard copies of the Fund’s complete audited financial statements are
available free of charge upon request.
The Fund is a non-diversified closed-end investment management company
advised by Legg Mason Partners Fund Advisor, LLC (“LMPFA”) and
sub-advised by ClearBridge Investments, LLC (“ClearBridge”). LMPFA and
ClearBridge are wholly owned subsidiaries of Legg Mason, Inc. (“Legg
Mason”).
Legg Mason is a global asset management firm with approximately $709
billion in assets under management as of December 31, 2014. Legg Mason
provides active asset management in many major investment centers
throughout the world. Legg Mason is headquartered in Baltimore,
Maryland, and its common stock is listed on the New York Stock Exchange
(symbol: LM).
ClearBridge Energy MLP Opportunity Fund Inc. is not sold or distributed
by Legg Mason or any Legg Mason affiliate. Shares of the fund are bought
and sold through non-affiliated broker/dealers and trade on nationally
recognized stock exchanges.
Copyright Business Wire 2015