Western Asset Inflation-Linked Income Fund(WIA) announces an Equity Buyback for 5,830,564 shares, representing 20% of net assets of the fund.
November 25, 2020 at 12:00 am
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Western Asset Inflation-Linked Income Fund(WIA) announces a share repurchase program. Under the program, the company will repurchase up to 5,830,564 shares, representing 20% of net assets of the fund. The price to be paid for the shares is an amount per Share, net to the seller in cash, equal to 99% of the net asset value per share as determined by the Fund as of the close of regular trading on the New York Stock Exchange (NYSE) on December 29, 2020, or if the offer period is extended, as of the close of regular trading on the NYSE as of the day after the newly designated expiration date. The repurchased shares will be paid from cash on hand and the proceeds of sales of securities in the Fund’s investment portfolio. The repurchased shares will be retired. If greater than 20% of the Fund’s Shares are tendered pursuant to the Offer, the Fund would, upon the terms and subject to the conditions of the Offer, purchase Shares tendered on a pro rata basis. The offer will be valid up to December 28, 2020, unless extended.
Bryan Chegwidden from Ropes & Gray LLP acted as legal advisor to the company.
Western Asset Inflation-Linked Income Fund (the Fund) is a diversified closed-end management investment company. The Fundâs primary investment objective is to provide current income for its shareholders. The Fund seeks current income, with a secondary investment objective of capital appreciation. The Fund provides a leveraged portfolio investing at least 80% in inflation-linked securities, consisting primarily of United States Treasury Inflation Protected Securities (TIPS), with the ability to invest in other fixed-income assets, including high-yield, emerging markets, structured products, commodities, and currency. The Fund may also invest up to 40% of its total managed assets in non-United States dollar investments. The Fund can invest no more than 10% of its total managed assets in securities rated below investment grade at the time of purchase. The Fundâs investment adviser is Western Asset Management Company, LLC.
WESTERN ASSET INFLATION-LINKED INCOME FUND 