NEW YORK--(BUSINESS WIRE)--
ClearBridge MLP and Midstream Fund Inc. (CEM) announced today the unaudited statement of assets and liabilities, the net asset value and asset coverage ratio of the Fund as of February 28, 2019.
As of February 28, 2019, the Fund’s net assets were $933.9 million, and its net asset value per share was $13.26.
The Fund’s asset coverage ratio under the Investment Company Act of 1940 (the “1940 Act”) with respect to senior indebtedness was 345% and the Fund’s asset coverage ratio under the 1940 Act with respect to total leverage was 304%.
|As of February 28, 2019|
|Amount (millions)||Per Share|
|Investments||$ 1,482.5||$ 21.05|
|Cash and Cash Equivalents||9.3||0.13|
|Total Assets||$ 1,497.2||$ 21.26|
|Senior Notes*||$ 370.0||$ 5.25|
|Mandatory Redeemable Preferred Shares*||55.0||0.78|
|Total Leverage||$ 458.0||$ 6.50|
|Deferred Tax Liability||$ 101.2||$ 1.44|
|Total Liabilities||$ 105.3||$ 1.50|
|Net Assets||$ 933.9||$ 13.26|
|* The Fund's asset coverage ratio under the 1940 Act with respect to senior indebtedness was 345%.|
|* The Fund's asset coverage ratio under the 1940 Act with respect to total leverage was 304%.|
|Top Ten Holdings (as of February 28, 2019)**|
|Name||(millions)||% of Investments||***|
|Enterprise Products Partners LP||$ 136.7||9.2%|
|Energy Transfer LP||$ 115.1||7.7%|
|Enbridge Inc.||$ 100.3||6.7%|
|ONEOK Inc.||$ 88.8||6.0%|
|Williams Cos. Inc.||$ 85.7||5.7%|
|Magellan Midstream Partners LP||$ 77.5||5.2%|
|Genesis Energy LP||$ 75.0||5.0%|
|EnLink Midstream LP||$ 58.9||3.9%|
|Plains All American Pipeline LP||$ 55.1||3.7%|
|Brookfield Infrastructure Partners LP||$ 53.1||3.6%|
|**Subject to change at any time|
|***Percent of Total Investments|
ClearBridge MLP and Midstream Fund Inc. is a non-diversified, closed-end management investment company which is advised by Legg Mason Partners Fund Advisor, LLC (“LMPFA”) and subadvised by ClearBridge Investments, LLC (“ClearBridge”). LMPFA and ClearBridge are wholly owned subsidiaries of Legg Mason, Inc. (“Legg Mason”).
This financial data is unaudited.
The Fund files its semi-annual and annual reports with the Securities and Exchange Commission, as well as its complete schedule of portfolio holdings for the first and third quarters of each fiscal year on Form N-Q. These reports are available on the Commission’s website at www.sec.gov. To obtain information on Form N-Q or a semi-annual or annual report from the Fund, shareholders can call 1-888-777-0102.
For more information about the Fund, please call 1-888-777-0102 or consult 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.
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 Fund.