Welcome to our dedicated page for Western Asset IG Opp news (Ticker: IGI), a resource for investors and traders seeking the latest updates and insights on Western Asset IG Opp stock.
Western Asset Investment Grade Defined Opportunity Tr Inc (IGI) is a non-diversified closed-end fund specializing in investment-grade corporate bonds to deliver current income and capital appreciation. This page serves as the definitive source for all official company announcements and market-related developments.
Investors and analysts will find consolidated access to earnings reports, portfolio strategy updates, and regulatory filings. Our curated collection includes press releases on dividend declarations, asset allocation changes, and management commentary - essential resources for monitoring this fixed-income fund's performance.
The news archive features three primary content types: quarterly financial results detailing income distributions, strategic initiatives affecting the bond portfolio composition, and corporate actions influencing shareholder value. Regular updates reflect IGI's disciplined approach to navigating credit markets while maintaining its investment-grade mandate.
Bookmark this page for streamlined tracking of IGI's fixed-income strategies and risk management practices. Check back frequently for verified updates directly impacting the fund's income generation capabilities and long-term capital preservation objectives.
Western Asset Investment Grade Opportunity Trust Inc. (NYSE: IGI) held its annual meeting of stockholders on April 14, 2025, announcing key leadership changes and financial oversight appointments. Carol L. Colman and Anthony Grillo were elected as Class I Directors, with terms extending until the 2028 annual meeting.
Stockholders also approved PricewaterhouseCoopers LLP as the Fund's independent registered public accountants for the fiscal year ending November 30, 2025. The Fund operates as a non-diversified closed-end management investment company, managed by Franklin Templeton Fund Adviser, (FTFA) and subadvised by Western Asset Management Company, (WAMCo) and its foreign affiliates. Both FTFA and WAMCo are indirect wholly-owned subsidiaries of Franklin Resources Inc., operating under the Franklin Templeton brand.
Western Asset Investment Grade Opportunity Trust Inc. (NYSE: IGI) has released its financial position for February 28, 2025. The Fund reported total net assets of $104,648,369, with a NAV per share of $17.46 and a market price of $16.69, representing a discount of 4.41%.
For the quarter, the Fund recorded total net investment income of $1,272,473 ($0.21 per share) and a net realized/unrealized loss of $648,126 ($0.11 per share), resulting in a net increase in assets from operations of $624,347 ($0.10 per share).
A significant development occurred on October 2, 2024, when the Fund completed a tender offer, accepting 4,854,372 common shares at $18.15 per share, reducing the outstanding shares from 10,848,022 to 5,993,650.
Western Asset Investment Grade Opportunity Trust (NYSE: IGI) has announced changes to its portfolio management team, effective January 3, 2025. The new team responsible for daily Fund oversight includes Michael Buchanan, Dan Alexander, Ryan Brist, Blanton Keh, and Molly Schwartz.
The Fund trades on the New York Stock Exchange, with share prices fluctuating based on market conditions. Like other closed-end funds, IGI shares typically trade at a discount to their net asset value, which may increase investor risk. For additional information, investors can contact Fund Investor Services at 1-888-777-0102 or visit the Franklin Templeton website.
Western Asset Investment Grade Defined Opportunity Trust (NYSE: IGI) has released its financial position as of August 31, 2024. The Fund's total net assets increased to $193,643,800 from $187,788,087 in the previous quarter. The NAV per share rose to $17.85, up from $17.31, while the market price per share improved to $17.81 from $16.85. The Fund reported a total net investment income of $2,297,018 and a total net realized/unrealized gain of $5,869,324 for the quarter. The discount to NAV narrowed significantly to -0.22% compared to -2.66% in the previous quarter.
Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE: IGI) announced the final results of its issuer tender offer for up to 100% of outstanding common shares. Approximately 4,854,372 shares (44.75% of outstanding) were tendered at $18.15 per share, equal to 100% of NAV on October 1, 2024. The Fund's total net assets post-tender offer are approximately $108.7 million. Payment for tendered shares will be made around October 7, 2024.
Following stockholder approval on June 11, 2024, the Fund will convert to a perpetual fund, eliminating its scheduled termination on December 2, 2024. The Fund will change its name to "Western Asset Investment Grade Opportunity Trust Inc." on November 1, 2024, retaining the ticker IGI. The investment manager agreed to a 10 basis point fee waiver for two years, ending June 7, 2026.
Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE: IGI) has announced details of its upcoming cash tender offer for up to 100% of outstanding shares. The offer is expected to commence around September 3, 2024, with an expiration time of 5:00 p.m., New York City time, on or about October 1, 2024. The purchase price will be 100% of the Fund's net asset value per share on the expiration day.
Key points:
- If the Fund maintains at least $50 million in net assets post-offer, it will change its name to 'Western Asset Investment Grade Opportunity Trust Inc.'
- If net assets fall below $50 million, the offer will be cancelled, and the Fund will liquidate on or about December 2, 2024
- The investment manager has agreed to a 10 basis point management fee waiver for two years until June 7, 2026
Western Asset Investment Grade Defined Opportunity Trust, trading under 'IGI,' announced stockholders approved converting the Fund to a perpetual fund at a special meeting on June 7, 2024.
This entails eliminating its planned liquidation on December 2, 2024. A tender offer will start in September 2024 for up to 100% of the Fund’s Common Stock at net asset value.
If at least $50 million remains post-tender, the Fund will be renamed 'Western Asset Investment Grade Opportunity Trust,' retaining the ticker 'IGI.'
If less than $50 million remains, the Fund will liquidate in December 2024. A fee waiver of 10 basis points on the annual management fee will be applied until June 7, 2026.
The Fund is managed by Franklin Templeton Fund Adviser and sub-advised by various Western Asset Management entities.
Western Asset Investment Grade Defined Opportunity Trust Inc. (IGI) reported its financial position as of February 29, 2024. The Total Net Assets reached $188,642,691, with NAV Per Share of Common Stock at $17.39. The Market Price Per Share was $17.06, indicating a slight premium. The Fund also disclosed Total Net Investment Income of $2,271,249 and Total Net Realized/Unrealized Gain of $3,462,903. Earnings per Common Share Outstanding showed growth in various categories. Undistributed Net Investment Income was reported at $(518,605). The Fund's financial data is unaudited, and it files reports with the SEC regularly.
FAQ
What is the current stock price of Western Asset IG Opp (IGI)?
What is the market cap of Western Asset IG Opp (IGI)?
