Western Asset High Income Fund II Inc. Authorizes Rights Offering
Western Asset High Income Fund II Inc. (NYSE: HIX) (CUSIP: 95766J-10-2) (“HIX” or the “Fund”) announced today that its Board of Directors has approved a transferable rights offering (the “Offer”).
- Western Asset High Income Fund II Inc. (NYSE: HIX) (CUSIP: 95766J-10-2) (“HIX” or the “Fund”) announced today that its Board of Directors has approved a transferable rights offering (the “Offer”).
- Franklin Templeton Fund Adviser, LLC (formerly known as Legg Mason Partners Fund Advisor, LLC) and Western Asset Management Company, LLC (“Western Asset”), each an indirect wholly-owned subsidiary of Franklin Resources Inc. and the Fund’s investment adviser and subadviser, respectively, believe that the Offer may benefit the Fund and its stockholders in several ways.
- An increase in Fund assets may also have a positive impact on the Fund’s expense ratio, as fixed costs will be distributed over a larger asset base.
- The Fund is actively managed, but there is no guarantee that Western Asset’s investment decisions will produce the desired results.