Western Asset Term Funds Announce Stockholder Proposals
Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE: IGI) and Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE: GDO) (individually, a “Fund” and collectively, the “Funds”) announced today approval by each Fund’s Board of Directors of a proposal that will allow stockholders of each Fund to remain invested, subject to stockholder approval.
- Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE: IGI) and Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE: GDO) (individually, a “Fund” and collectively, the “Funds”) announced today approval by each Fund’s Board of Directors of a proposal that will allow stockholders of each Fund to remain invested, subject to stockholder approval.
- If a Fund’s net assets following the tender offer are expected to be $50 million or greater, the tender offer will be completed and such Fund’s term will be eliminated.
- If a Fund’s term is eliminated, the Fund’s name will change to reflect the elimination to “Western Asset Investment Grade Opportunity Trust Inc.” and “Western Asset Global Corporate Opportunity Fund Inc.” for IGI and GDO, respectively.
- The approval of each Fund’s Amendment Proposal is not contingent upon the approval of the other Fund’s Amendment Proposal.