ClearBridge MLP and Midstream Fund Inc. Announces Unaudited Balance Sheet Information as of July 31, 2022

Rhea-AI Summary

ClearBridge MLP and Midstream Fund (NYSE: CEM) reported its financial status as of July 31, 2022. The Fund's net assets totaled $540.5 million, with a net asset value per share of $40.17. Key metrics include an asset coverage ratio of 440% for senior indebtedness and 359% for total leverage under the Investment Company Act of 1940. Total investments were reported at $731.1 million. The Fund held 13,455,195 outstanding shares.

Positive

• Net assets of $540.5 million indicate strong financial position.
• Net asset value per share at $40.17 reflects positive valuation.
• High asset coverage ratios of 440% (senior indebtedness) and 359% (total leverage), suggesting robust risk management.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- ClearBridge MLP and Midstream Fund Inc. (NYSE: CEM) announced today the unaudited statement of assets and liabilities, the net asset value and asset coverage ratio of the Fund as of July 31, 2022.

As of July 31, 2022, the Fund’s net assets were $540.5 million, and its net asset value per share was $40.17. The Fund’s asset coverage ratio under the Investment Company Act of 1940 (the “1940 Act”) with respect to senior indebtedness was 440% and the Fund’s asset coverage ratio under the 1940 Act with respect to total leverage was 359%.

	As of July 31, 2022
	Amount (millions)			Per Share
Investments	$	731.1		$	54.34
Cash and Cash Equivalents		5.5			0.41
Other Assets		14.6			1.08
Total Assets	$	751.2		$	55.83
Senior Notes*	$	54.3		$	4.04
Loans Outstanding*		116.0			8.62
Mandatory Redeemable Preferred Shares*		38.8			2.88
Total Leverage	$	209.1		$	15.54
Other Liabilities	$	1.6		$	0.12
Total Liabilities	$	1.6		$	0.12
Net Assets	$	540.5		$	40.17
Outstanding Shares		13,455,195
* The Fund's asset coverage ratio under the 1940 Act with respect to senior indebtedness was 440%.
* The Fund's asset coverage ratio under the 1940 Act with respect to total leverage was 359%.

Top Ten Equity Holdings (as of July 31, 2022)**
	Market Value
Name	(millions)		% of Investments	***
Enterprise Products Partners LP	$ 56.3		7.7%
MPLX LP	$ 56.1		7.7%
Western Midstream Partners LP	$ 53.7		7.3%
Energy Transfer LP	$ 53.2		7.3%
Magellan Midstream Partners LP	$ 43.6		6.0%
Williams Cos. Inc.	$ 39.7		5.4%
Targa Resources Corp.	$ 39.1		5.4%
DCP Midstream LP	$ 32.7		4.5%
ONEOK Inc.	$ 30.8		4.2%
Enbridge Inc.	$ 29.4		4.0%
	$ 434.6		59.5%
** Subject to change at any time
*** Percent of Total Equity Investments

ClearBridge MLP and Midstream Fund Inc. is a non-diversified, closed-end management investment company, which is advised by Legg Mason Partners Fund Advisor, LLC (“LMPFA”) and subadvised by ClearBridge Investments, LLC (“ClearBridge”). LMPFA and ClearBridge are indirect, wholly-owned subsidiaries of Franklin Resources, Inc. (“Franklin Resources”).

This financial data is unaudited.

The Fund files its semi-annual and annual reports with the Securities and Exchange Commission (“SEC”), as well as its complete schedule of portfolio holdings for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. These reports are available on the SEC’s website at www.sec.gov. To obtain information on Form N-PORT or a semi-annual or annual report from the Fund, shareholders can call 1-888-777-0102.

For more information about the Fund, please call 1-888-777-0102 or consult the Fund’s website at www.franklintempleton.com/investments/options/closed-end-funds. Hard copies of the Fund’s complete audited financial statements are available free of charge upon request.

Data and commentary provided in this press release are for informational purposes only. Franklin Resources and its affiliates do not engage in selling shares of the Fund.

Category: Financials

Source: Franklin Resources, Inc.

Source: Legg Mason Closed End Funds

View source version on businesswire.com: https://www.businesswire.com/news/home/20220805005110/en/

Investors: Fund Investor Services 1-888-777-0102

Source: Franklin Resources, Inc. and Legg Mason Closed End Funds

FAQ

What are the net assets of ClearBridge MLP and Midstream Fund as of July 31, 2022?

As of July 31, 2022, ClearBridge MLP and Midstream Fund's net assets were $540.5 million.

What is the net asset value per share for CEM as of July 31, 2022?

The net asset value per share for ClearBridge MLP and Midstream Fund (CEM) was $40.17 as of July 31, 2022.

What are the asset coverage ratios for ClearBridge MLP and Midstream Fund?

The asset coverage ratio under the Investment Company Act of 1940 for ClearBridge MLP and Midstream Fund is 440% for senior indebtedness and 359% for total leverage.

How many shares are outstanding for CEM?

ClearBridge MLP and Midstream Fund has 13,455,195 outstanding shares.