ClearBridge MLP and Midstream Fund Inc. Announces Unaudited Balance Sheet Information as of November 30, 2022

Rhea-AI Summary

ClearBridge MLP and Midstream Fund (NYSE: CEM) reported its unaudited financials as of November 30, 2022, highlighting net assets of $571.5 million and a net asset value per share of $42.47. The Fund's asset coverage ratio for senior indebtedness was an impressive 443%, while total leverage stood at 329%. The Fund's total assets amounted to $823.3 million, with $796.4 million in investments and $19.1 million in cash. With 13,455,195 outstanding shares, the financial metrics reflect a stable position in the market.

Positive

• Net assets of $571.5 million indicate strong financial health.
• Net asset value per share is at $42.47, showing value for shareholders.
• Asset coverage ratio for senior debt at 443% reflects low financial risk.
• Total assets of $823.3 million demonstrate significant investment capacity.

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 November 30, 2022.

As of November 30, 2022, the Fund’s net assets were $571.5 million, and its net asset value per share was $42.47. The Fund’s asset coverage ratio under the Investment Company Act of 1940 (the “1940 Act”) with respect to senior indebtedness was 443% and the Fund’s asset coverage ratio under the 1940 Act with respect to total leverage was 329%.

	As of November 30, 2022
	Amount (millions)			Per Share
Investments	$	796.4		$	59.19
Cash and Cash Equivalents		19.1			1.42
Other Assets		7.8			0.58
Total Assets	$	823.3		$	61.19
Senior Notes*	$	54.3		$	4.04
Loans Outstanding*		131.0			9.74
Mandatory Redeemable Preferred Shares*		63.8			4.74
Total Leverage	$	249.1		$	18.52
Other Liabilities	$	2.7		$	0.20
Total Liabilities	$	2.7		$	0.20
Net Assets	$	571.5		$	42.47
Outstanding Shares		13,455,195
* The Fund's asset coverage ratio under the 1940 Act with respect to senior indebtedness was 443%.
* The Fund's asset coverage ratio under the 1940 Act with respect to total leverage was 329%.
Top Ten Equity Holdings (as of November 30, 2022)**
	Market Value
Name	(millions)			% of Investments			***
MPLX LP	$	62.3			7.8	%
Energy Transfer LP	$	61.8			7.8	%
Western Midstream Partners LP	$	58.7			7.4	%
Enterprise Products Partners LP	$	53.8			6.8	%
Magellan Midstream Partners LP	$	45.4			5.7	%
Williams Cos. Inc.	$	44.1			5.5	%
Targa Resources Corp.	$	43.6			5.5	%
ONEOK Inc.	$	36.5			4.6	%
Kinder Morgan Inc.	$	35.1			4.4	%
Plains GP Holdings LP	$	34.7			4.4	%
	$	476.0			59.9	%

** 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.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/20221207005399/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 November 30, 2022?

The net assets of ClearBridge MLP and Midstream Fund (NYSE: CEM) as of November 30, 2022, were $571.5 million.

What is the asset coverage ratio for ClearBridge MLP and Midstream Fund's senior indebtedness?

The asset coverage ratio for ClearBridge MLP and Midstream Fund's senior indebtedness is 443%.

What is the net asset value per share of ClearBridge MLP and Midstream Fund?

The net asset value per share of ClearBridge MLP and Midstream Fund is $42.47.

What were the total assets of ClearBridge MLP and Midstream Fund as of November 30, 2022?

The total assets of ClearBridge MLP and Midstream Fund amounted to $823.3 million as of November 30, 2022.