Western Asset Inflation-Linked Income Fund Announces Tender Offer Commencement
December 04 2020 - 8:00AM
Business Wire
Western Asset Inflation-Linked Income Fund (NYSE: WIA) (the
“Fund”) announced today additional details concerning its
previously announced cash tender offer for up to 20% of the Fund’s
outstanding common shares (the “Shares”) at a price per Share equal
to 99% of the Fund’s net asset value per Share as of the business
day immediately following the expiration date of the tender offer
(the “Offer”).
The Fund commenced the Offer on November 25, 2020 with an
expiration time of 5:00 p.m., New York City time, on or about
December 28, 2020, unless extended. If the Offer expires on
December 28, 2020, the net asset value per Share for purposes of
the Offer would be calculated as of the close of regular trading
session on the New York Stock Exchange on December 29, 2020 (or if
the Offer is extended, as of the close of the next trading day
after the day to which the Offer is extended). Payment for such
Shares will be made on or about December 31, 2020 (unless the Offer
is extended). The Fund will repurchase Shares tendered and accepted
in the Offer in exchange for cash. In the event the Offer is
oversubscribed, Shares will be repurchased on a pro rata basis.
Accordingly, shareholders cannot be assured that the Fund will
purchase all of their tendered Shares.
This announcement is not a recommendation, an offer to purchase
or a solicitation of an offer to sell Shares of the Fund and the
above statements are not intended to constitute an offer to
participate in any tender offer. The tender offer has been made by
an offer to purchase, a related letter of transmittal, and other
documents filed with the U.S. Securities and Exchange Commission
(“SEC”) on November 25, 2020. Shareholders of the Fund should read
the offer to purchase and tender offer statement and related
exhibits, as they contain important information about the tender
offer. These and other filed documents are available to
shareholders for free both at the website of the SEC and from the
Fund. There can be no assurance that any Share repurchases will
reduce or eliminate the discount of the Fund’s market price per
Share to the Fund’s net asset value per Share.
Western Asset Inflation-Linked Income Fund, a diversified,
closed-end management investment company, is administered by Legg
Mason Partners Fund Advisor, LLC (“LMPFA”), is advised by Western
Asset Management Company, LLC (“Western Asset”) and is subadvised
by Western Asset Management Company Limited (“Western London”),
Western Asset Management Company Ltd (“Western Japan”) and Western
Asset Management Company Pte. Ltd. (“Western Singapore”). Each of
LMPFA, Western Asset, Western London, Western Japan and Western
Singapore is an indirect, wholly-owned subsidiary of Franklin
Resources, Inc.
This press release may contain statements regarding plans and
expectations for the future that constitute forward-looking
statements within the Private Securities Litigation Reform Act of
1995. Such forward-looking statements are based on the Fund’s
current plans and expectations, and are subject to risks and
uncertainties that could cause actual results to differ materially
from those described in the forward-looking statements. Additional
information concerning such risks and uncertainties are contained
in the Fund’s filings with the SEC.
For more information about the Fund, please call Investor
Relations: 1-888-777-0102, or consult the Fund’s web site at
www.lmcef.com. The information contained on the Fund’s web site is
not part of this press release. Hard copies of the Fund’s complete
audited financial statements are available free of charge upon
request.
Category: Fund Announcement
Source: Franklin Templeton
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version on businesswire.com: https://www.businesswire.com/news/home/20201204005189/en/
Media Contact: Fund Investor Services-1-888-777-0102
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