ClearBridge MLP and Midstream Fund Inc.Announce Information on Their Unaudited Balance Sheet as at December 31, 2021
ClearBridge MLP and Midstream Fund Inc. (NYSE: CEM) today announced the Statement of Unaudited Assets and Liabilities, Net Asset Value and Asset Coverage Ratio of the Fund as at December 31, 2021.
As at December 31, 2021, the Fund’s net assets were $ 436.0 million and its net asset value per share was $ 32.21. The Fund’s asset coverage ratio under the Investment Company Act of 1940 (the “1940 Act”) with respect to senior debt was 420% and the Fund asset coverage ratio under of the 1940 Act with respect to total leverage was 333%.
| As of December 31, 2021 | ||||||
| Amount (millions) | Per share | |||||
| Investments |
$ |
601.0 |
$ |
44.40 |
||
| Cash and cash equivalents |
|
14.0 |
|
1.03 |
||
| other assets |
|
9.9 |
|
0.73 |
||
| Total assets |
$ |
624.9 |
$ |
46.16 |
||
| Senior Notes * |
$ |
73.3 |
$ |
5.41 |
||
| Outstanding loans * |
|
75.0 |
|
5.54 |
||
| Mandatory redeemable preferred shares * |
|
38.8 |
|
2.87 |
||
| Total leverage |
$ |
187.1 |
$ |
13.82 |
||
| Other liabilities |
$ |
1.8 |
$ |
0.13 |
||
| Total responsibilities |
$ |
1.8 |
$ |
0.13 |
||
| Net assets |
$ |
436.0 |
$ |
32.21 |
||
| Outstanding shares |
|
13 539 195 |
||||
| * The Fund’s asset coverage ratio under the 1940 Senior Debt Act was 420%. | ||||||
| * The coverage ratio of the Fund’s assets under the 1940 Act to total leverage was 333%. | ||||||
| Top ten equity securities (as of December 31, 2021) ** | ||||||
| Market value | ||||||
| Last name | (millions) |
% investments |
*** | |||
| MPLX LP |
$ |
51.7 |
|
8.6% |
||
| Company Products Partners LP |
$ |
46.1 |
|
7.7% |
||
| LP energy transfer |
$ |
43.2 |
|
7.2% |
||
| ONEOK Inc. |
$ |
38.7 |
|
6.4% |
||
| Williams Cos. Inc. |
$ |
37.2 |
|
6.2% |
||
| Targa Resources Corp. |
$ |
37.0 |
|
6.2% |
||
| West LP Midstream Partners |
$ |
36.3 |
|
6.0% |
||
| DCP Midstream LP |
$ |
33.0 |
|
5.5% |
||
| Magellan Midstream Partners LP |
$ |
30.6 |
|
5.1% |
||
| Enbridge inc. |
$ |
26.7 |
|
4.4% |
||
|
$ |
380.5 |
|
63.3% |
|||
| ** Can change at any time | ||||||
| *** Percentage of total equity investments | ||||||
ClearBridge MLP and Midstream Fund Inc. is an undiversified closed-end investment company advised by Legg Mason Partners Fund Advisor, LLC (“LMPFA”) and sub-advised by ClearBridge Investments, LLC (“ClearBridge”). LMPFA and ClearBridge are indirect wholly owned subsidiaries of Franklin Resources, Inc. (“Franklin Resources”).
These financial data are not audited.
The Fund files its semi-annual and annual reports with the Securities and Exchange Commission (“SEC”), along with its full schedule of portfolio holdings for the first and third quarters of each financial year as an attachment to its reports on the form. N. -PORT. These reports are available on the SEC’s website at www.sec.gov. For information on the N-PORT form or a semi-annual or annual report of the Fund, shareholders can call 1-888-777-0102.
For more information about the Fund, please call 1-888-777-0102 or visit the Fund’s website at www.franklintempleton.com/investments/options/closed-end-funds. Hard copies of the Fund’s complete audited financial statements are available free of charge upon request.
The data and comments provided in this press release are provided for informational purposes only. Franklin Resources and its affiliates do not sell shares of the Fund.
Category: Finances
Source: Franklin Resources, Inc.
Source: Legg Mason Closed End Fund
See the source version on businesswire.com: https://www.businesswire.com/news/home/20220107005170/en/