ClearBridge MLP and Midstream Fund Inc.Announce Information on Their Unaudited Balance Sheet as at November 30, 2021



NEW YORK–(COMMERCIAL THREAD) – ClearBridge MLP and Midstream Fund Inc. (NYSE: CEM) today announced the unaudited statement of assets and liabilities, net asset value and asset coverage ratio of the Fund as at November 30, 2021.

As at November 30, 2021, the Fund’s net assets were $ 421.9 million and its net asset value per share was $ 31.16. The asset coverage ratio of the Fund under the Investment Companies Act of 1940 (the “1940 Act”) with respect to senior debt was 411% and the asset coverage ratio of the Fund was 411%. Fund under the 1940 Act with respect to total leverage was 325%.

As of November 30, 2021
Amount (millions) Per share
Investments

$

593.1

$

43.81

Cash and cash equivalents

7.7

0.57

other assets

10.3

0.76

Total assets

$

611.1

$

45.14

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

$

2.1

$

0.16

Total responsibilities

$

2.1

$

0.16

Net assets

$

421.9

$

31.16

Outstanding shares

13 539 195

* The Fund’s asset coverage ratio under the 1940 Senior Debt Act was 411%.
* The coverage ratio of the Fund’s assets under the 1940 Act to total leverage was 325%.
Top ten equity securities (as of November 30, 2021) **
Market value
name (millions) % investments ***
MPLX LP

$

51.2

8.6

%

Company Products Partners LP

$

44.9

7.6

%

ONEOK Inc.

$

39.4

6.6

%

Williams Cos. Inc.

$

38.3

6.4

%

Targa Resources Corp.

$

36.5

6.2

%

DCP Midstream LP

$

31.6

5.3

%

West LP Midstream Partners

$

31.4

5.3

%

Magellan Midstream Partners LP

$

30.6

5.2

%

Enbridge inc.

$

25.6

4.3

%

LP energy transfer

$

25.0

4.2

%

$

354.5

59.7

%

** Can change at any time
*** Percentage of total equity investments

During the month ended November 30, 2021, the Fund repurchased on the open market and withdrew 56,152 of its common shares under the share repurchase plan for a total amount of $ 1,651,437.

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


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