NEW YORK--(BUSINESS WIRE)--ClearBridge American Energy MLP Fund Inc. (the “Fund”) (NYSE:CBA) announced today that it completed a private placement of $50 million of fixed-rate Mandatory Redeemable Preferred Stock on July 23, 2015. Net proceeds from the offering will be used to make new portfolio investments and for general corporate purposes.
The table below summarizes the key terms of the offering.
|
Security |
Aggregate |
Shares |
Rate |
Liquidation |
Term Redemption |
||||||
| Mandatory Redeemable Preferred Stock | |||||||||||
| Series A | $10 million | 100 | 4.37% | $100,000 | 7/23/24 | ||||||
| Series B | $40 million | 400 | 4.55% | $100,000 | 7/23/26 | ||||||
For more information, please contact the Fund at 1-888-777-0102 or visit 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.
The Fund is a non-diversified closed-end investment management company advised by Legg Mason Partners Fund Advisor, LLC (“LMPFA”) and sub-advised by ClearBridge Investments, LLC (“ClearBridge”). LMPFA and ClearBridge are wholly owned subsidiaries of Legg Mason, Inc. (“Legg Mason”).
Legg Mason is a global asset management firm with approximately $703 billion in assets under management as of March 31, 2015. Legg Mason provides active asset management in many major investment centers throughout the world. Legg Mason is headquartered in Baltimore, Maryland, and its common stock is listed on the New York Stock Exchange (symbol: LM).
ClearBridge American Energy MLP Fund Inc. is not sold or distributed by Legg Mason or any Legg Mason affiliate. Shares of the fund are bought and sold through non-affiliated broker/dealers and trade on nationally recognized stock exchanges.