Western Asset Global Corporate Defined Opportunity Fund Inc. Portfolio Composition as of June 30, 2015

NEW YORK--()--Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE:GDO) announces its portfolio composition as of June 30, 2015.

Investment Objective: The Fund’s investment objective is to provide current income and then to liquidate and distribute substantially all of the Fund’s net assets to stockholders on or about December 2, 2024. As a secondary investment objective, the Fund will seek capital appreciation.

Investment Strategy: The Fund seeks to achieve its investment objective by investing, under normal market conditions, at least 80% of its managed assets in a portfolio of U.S. and foreign corporate fixed-income securities of varying maturities; at least 40% of which will be invested in fixed-income securities of foreign issuers organized or having a principal place of business outside of the U.S., including in emerging market countries. In addition, the Fund may invest up to 35% of its managed assets in fixed-income securities below investment grade quality.

 

Portfolio Composition*:

 

Asset Allocation

Investment Grade Corporate Bonds

46.4%

High Yield Corporate Bonds

28.7%

Emerging Market

18.5%

Sovereign Debt External Currency 4.2%
Sovereign Debt Local Currency 1.2%
Corporates External Currency 13.1%

Mortgage-Backed Securities

2.2%

Bank Loans

0.7%

Asset-Backed Securities

0.6%

Government

0.5%

Cash & Other Securities

2.4%

 

Credit Quality Allocation**

AAA 0.7%
AA 2.2%
A 19.8%
BBB 40.3%
BB 16.4%
B 13.4%
CCC 4.5%
Not Rated 2.6%
 

Top Five Industries

Banking 21.0%
Communications 13.3%
Consumer Non Cyclical 8.0%
Consumer Cyclical 5.5%
Energy 4.5%
 

Top Five Countries

United States 44.8%
United Kingdom 12.6%
France 5.4%
Brazil 4.2%
Italy 3.5%
 

Currency of Issue

US Dollar 77.1%
Euro 11.2%
British Pound 9.6%
Brazilian Real 1.1%
Canadian Dollar 0.5%
Australian Dollar 0.4%
Peruvian Nuevo Sol 0.1%
 

Currency Exposure (includes currency hedging)

US Dollar 101.7%
Brazilian Real 1.1%
British Pound 0.5%
Australian Dollar 0.4%
Canadian Dollar 0.2%
Peruvian Nuevo Sol 0.1%
Euro -4.0%
 

Average Life (years)

6.1

Effective Duration (years)

4.4

Average Coupon (%) 6.6

 

Portfolio Statistics:

 

Inception Date

November 24, 2009

Inception Price

$20.00

Total Assets***

$382,913,142

Net Assets

$294,629,454

Loans****

21.68%

Preferred Shares****

0.00%

Reverse Repos****

0.00%
 

Market Price

$17.15

NAV

$19.52

(Daily NAV is available on market quotation systems using the symbol XGDOX.)

 
Distribution Rate $0.1135 per share

Frequency

Monthly (Declared quarterly, paid monthly)

 

* Portfolio holdings and weightings are historical and are presented here for informational purposes only. They are subject to change at any time. Negative allocations and allocations in excess of 100%, if any, are primarily due to the Fund's unsettled trade activity.

** Credit quality is a measure of a bond issuer's ability to repay interest and principal in a timely manner. The credit ratings shown are based on each portfolio security’s rating as provided by Standard and Poor’s, Moody’s Investors Service and/or Fitch Ratings, Ltd. and typically range from AAA (highest) to D (lowest), or an equivalent and/or similar rating. For this purpose, when two or more of the agencies have assigned differing ratings to a security, the highest rating is used. Securities that are unrated by all three agencies are reflected as such. The credit quality of the investments in the Fund's portfolio does not apply to the stability or safety of the Fund. These ratings are updated monthly and may change over time. Please note, the Fund itself has not been rated by an independent rating agency.

*** The difference between total assets and net assets, if any, is due primarily to the Fund’s use of borrowings; net assets do not include borrowings. The Fund may employ leverage in the form of loans, preferred stock, reverse repurchase agreements and/or other instruments. When the Fund engages in transactions that have a leveraging effect on the Fund’s portfolio, the value of the Fund will be more volatile and all other risks will tend to be compounded.

**** Percentages based on total assets.

Western Asset Global Corporate Defined Opportunity Fund Inc., a non-diversified closed-end investment management company traded on the New York Stock Exchange under the symbol “GDO”, is advised by Legg Mason Partners Fund Advisor, LLC, a wholly owned subsidiary of Legg Mason, Inc., and is sub-advised by Western Asset Management Company, an affiliate of the advisor.

An investment in the Fund involves risk, including loss of principal. Investment return and the value of shares will fluctuate. Fixed income securities are subject to credit risk, inflation risk, call risk, and interest rate risks. As interest rates rise, bond prices fall, reducing the value of the Fund's share price. International investing is subject to additional risks. These risks are greater in emerging markets.

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.

For more information, please call Fund Investor Services at 1-888-777-0102, or consult the Fund’s web site at http://www.lmcef.com. Hard copies of the Fund’s complete audited financial statements are available free of charge upon request.

FN1112204

Contacts

Legg Mason
Maria Rosati, 212-805-6036
mrosati@leggmason.com

Contacts

Legg Mason
Maria Rosati, 212-805-6036
mrosati@leggmason.com