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.
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