ClearBridge MLP and Midstream Fund Inc. Announces Unaudited Balance Sheet Information as of June 30, 2021

Rhea-AI Summary

ClearBridge MLP and Midstream Fund reported its unaudited assets and liabilities for June 30, 2021, showing net assets of $465.2 million and a net asset value per share of $34.21. The Fund's asset coverage ratio for senior indebtedness was 452%, while total leverage coverage stood at 355%. Total assets were $649.2 million, with significant investments in firms like MPLX LP and Enterprise Products Partners LP, making up 58.9% of total equity investments. The financial data is unaudited and available on the SEC website.

Positive

• Net assets of $465.2 million, indicating a strong financial position.
• Asset coverage ratios of 452% for senior debt and 355% for total leverage, showing solid debt management.
• Diverse investment portfolio, with top holdings representing 58.9% of total equity investments.

Negative

• None.

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 June 30, 2021.

As of June 30, 2021, the Fund’s net assets were $465.2 million, and its net asset value per share was $34.21.

The Fund’s asset coverage ratio under the Investment Company Act of 1940 (the “1940 Act”) with respect to senior indebtedness was 452% and the Fund’s asset coverage ratio under the 1940 Act with respect to total leverage was 355%.

	As of June 30, 2021
	Amount (millions)				Per Share
Investments	$	635.4			$	46.73
Cash and Cash Equivalents		4.7				0.34
Other Assets		9.1				0.67
Total Assets	$	649.2			$	47.74
Senior Notes*	$	73.3			$	5.39
Loans Outstanding*		70.0				5.15
Mandatory Redeemable Preferred Shares*		38.8				2.85
Total Leverage	$	182.1			$	13.39
Other Liabilities	$	1.9			$	0.14
Total Liabilities	$	1.9			$	0.14
Net Assets	$	465.2			$	34.21
Outstanding Shares		13,595,347
* The Fund's asset coverage ratio under the 1940 Act with respect to senior indebtedness was 452%.
* The Fund's asset coverage ratio under the 1940 Act with respect to total leverage was 355%.
Top Ten Equity Holdings (as of June 30, 2021)**
	Market Value
Name	(millions)				% of Investments				***
MPLX LP	$	51.7				8.1	%
Enterprise Products Partners LP	$	50.7				8.0	%
Williams Cos. Inc.	$	37.9				6.0	%
Targa Resources Corp.	$	37.7				5.9	%
DCP Midstream LP	$	36.8				5.8	%
ONEOK Inc.	$	36.6				5.8	%
Magellan Midstream Partners LP	$	32.3				5.1	%
Energy Transfer LP	$	31.6				5.0	%
Western Midstream Partners LP	$	31.1				4.9	%
Enbridge Inc.	$	27.3				4.3	%
	$	373.7				58.9	%
** 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.lmcef.com. 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/20210708005377/en/

FAQ

What is the net asset value of ClearBridge MLP and Midstream Fund as of June 30, 2021?

The net asset value per share of ClearBridge MLP and Midstream Fund was $34.21 as of June 30, 2021.

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

The asset coverage ratio for senior indebtedness was 452%, and for total leverage, it was 355%.

What were the total assets of ClearBridge MLP and Midstream Fund as of June 30, 2021?

As of June 30, 2021, the total assets of ClearBridge MLP and Midstream Fund were $649.2 million.

Who manages ClearBridge MLP and Midstream Fund?

ClearBridge MLP and Midstream Fund is advised by Legg Mason Partners Fund Advisor and subadvised by ClearBridge Investments.

How can shareholders obtain reports for ClearBridge MLP and Midstream Fund?

Shareholders can call 1-888-777-0102 to obtain semi-annual or annual reports.