Western Asset Global Corporate Defined Opportunity Fund Inc. Announces Final Results of Issuer Tender Offer for Common Stock and Elimination of Term
Based on current information, approximately 7,429,768 Shares were duly tendered and not withdrawn, representing approximately 49.70% of the Fund’s common shares outstanding. The Shares accepted for tender were repurchased at a price of
Payment for such Shares will be made on or about
Any questions about the Tender Offer can be directed to
As previously announced on
As a result of the successful completion of the Tender Offer, the proposals described in the Fund’s proxy statement dated
-
Since the Fund maintained at least
$50 million of net assets following the Tender Offer, the Fund will change its name from “Western Asset Global Corporate Defined Opportunity Fund Inc.” to “Western Asset Global Corporate Opportunity Fund Inc.” on or aboutNovember 1, 2024 . The Fund’s ticker symbol will remain “GDO”. The Fund’s CUSIP, 95790C107, will not change; and -
The Fund’s investment manager has agreed to waive 10 basis points (0.10%) of its annual management fee (the “Fee Waiver”) for a period of two years following the proposal’s approval. The Fee Waiver will terminate on
June 10, 2026 .
About the Fund
The Fund is a non-diversified, limited-term, closed-end management investment company managed by
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. Such forward-looking statements are based on the Fund’s 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 is contained in the Fund’s filings with the
For more information about the Fund, please call
About Franklin Templeton
Franklin Resources, Inc. is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With more than 1,500 investment professionals, and offices in major financial markets around the world, the
Category: Fund Announcement
Source: Franklin Resources, Inc.
Source: Legg Mason Closed End Funds
View source version on businesswire.com: https://www.businesswire.com/news/home/20241002282958/en/
Investor Contact:
Media Contact:
+1 (904) 942-4451
Lisa.Tibbitts@franklintempleton.com
Source: Franklin Resources, Inc. and Legg Mason Closed End Funds