LMP Capital and Income Fund Inc. Announces Board Approval and Intention to Issue Mandatory Redeemable Preferred Stock
The planned financing would replace a portion of existing leverage and provide funds for new portfolio investments.
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LMP Capital and Income Fund Inc. (the “Fund”) (NYSE: SCD) announced today that its Board of Directors has approved the issuance of up to
The Fund is a non-diversified closed-end investment management company advised by Franklin Templeton Fund Adviser, LLC (“FTFA”) and sub-advised by ClearBridge Investments, LLC (“ClearBridge”), Western Asset Management Company, LLC (“Western Asset”) and Western Asset Management Company Limited (“Western Limited”). ClearBridge oversees the Fund’s allocation between equity and fixed income securities and is responsible for the Fund’s equity investments. FTFA, ClearBridge, Western Asset and Western Limited are indirect wholly-owned subsidiaries of Franklin Templeton, Inc.
For more information about the Fund, please call Fund Investor Services: 1-888-777-0102, or consult the Fund’s website at www.franklintempleton.com/investments/options/closed-end-funds. The information contained on the Fund’s website is not part of this press release. Hard copies of the Fund’s complete audited financial statements are available free of charge upon request.
The Fund’s shares are traded on the New York Stock Exchange. Similar to stocks, Fund share prices will fluctuate with market conditions and, at the time of sale, may be worth more or less than the original investment. Shares of closed-end funds often trade at a discount to their net asset value and can increase an investor’s risk of loss. All investments are subject to risk, including the risk of loss.
This press release contains “forward-looking statements” as defined under the U.S. federal securities laws. Generally, the words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “project,” “will,” and similar expressions identify forward looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual future results to differ significantly from the Fund’s present expectations or projections indicated in any forward-looking statements. These risks include, but are not limited to, changes in economic and political conditions; regulatory and legal changes; leverage risk; valuation risk; interest rate risk; tax risk; the continuation of investment advisory, administration and other service arrangements; and other risks discussed in the Fund’s filings with the Securities and Exchange Commission. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The Fund undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the Fund’s investment objectives will be attained.
About Franklin Templeton
Franklin Templeton, Inc. is a global investment management organization with subsidiaries operating as Franklin Templeton.
Category: Fund Announcement
Source: Legg Mason Closed End Funds
View source version on businesswire.com: https://www.businesswire.com/news/home/20261020004489/en/
Investor Contact: Fund Investor Services – 1-888-777-0102
Media Contact: Jeaneen Terrio
+1-212-632-4005
Jeaneen.Terrio@franklintempleton.com
Source: Franklin Resources, Inc. and Legg Mason Closed End Funds