NEW YORK--(BUSINESS WIRE)--
Western Asset Corporate Loan Fund Inc. (NYSE:TLI) announces its portfolio composition as of June 30, 2017.
Investment Objective: The Fund’s investment objective is to maximize current income consistent with prudent efforts to preserve capital.
Portfolio Composition*:
|
Asset Allocation |
|
|
Bank Loans |
87.0% |
|
High Yield Corporate Bonds |
11.1% |
|
Emerging Market |
0.3% |
|
Corporates External Currency |
0.3% |
|
Cash & Other Securities |
1.6% |
|
Credit Quality Allocation** |
|
| BBB | 1.0% |
| BB | 26.0% |
| B | 61.6% |
| CCC | 7.5% |
| D | 0.5% |
| Not Rated | 3.4% |
|
Top Ten Bank Loan Industries |
|
| Consumer Cyclical | 23.6% |
| Consumer Non Cyclical | 20.3% |
| Communications | 11.5% |
| Technology | 5.4% |
| Industrial Other | 4.7% |
| Capital Goods | 4.7% |
| Electric | 4.4% |
| Transportation | 4.0% |
| Energy | 3.2% |
| Basic Industry | 2.6% |
|
Average to next reset |
50 days |
|
Portfolio Statistics: |
|
|
Inception Date |
November 20, 1998 |
|
Inception Price |
$15.00 |
|
Total Assets*** |
$169,495,191 |
|
Net Assets |
$113,995,191 |
|
Loans**** |
31.56% |
|
Fixed Rated Notes**** 1.18% |
|
|
Preferred Shares**** |
0.00% |
|
Reverse Repos**** |
0.00% |
|
Market Price |
$11.13 |
|
NAV |
$11.47 |
|
(Daily NAV is available on market quotation systems using the symbol XTLIX.) |
|
|
Distribution Rate |
$0.0725 per share |
|
Frequency |
Monthly (Declared monthly, paid monthly) |
| * | Portfolio holdings and weightings are historical and are presented here for informational purposes only. They are subject to change at any time. | |
| ** |
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 lowest 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 are based on total assets. | |
Western Asset Corporate Loan Fund Inc., a non-diversified investment management company, is managed by Legg Mason Partners Fund Advisor, LLC, a wholly-owned subsidiary of Legg Mason, Inc.
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.
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.
FN1112224
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