ClearBridge MLP and Midstream Fund Inc. Announces Unaudited Balance Sheet Information as of August 31, 2021

Rhea-AI Summary

ClearBridge MLP and Midstream Fund (NYSE: CEM) reported its unaudited financials as of August 31, 2021, revealing net assets of $412.1 million and a net asset value per share of $30.31. The fund's asset coverage ratio for senior debt is 415%, with total leverage coverage at 326%. Investments total $581.3 million, primarily in notable firms like MPLX LP and Enterprise Products Partners LP. The fund has outstanding shares numbering 13,595,347.

Positive

• Net assets stand at $412.1 million.
• Net asset value per share is $30.31.
• High asset coverage ratios: 415% for senior debt and 326% for total leverage.
• Total investments amount to $581.3 million.

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 August 31, 2021.

As of August 31, 2021, the Fund’s net assets were $412.1 million, and its net asset value per share was $30.31. The Fund’s asset coverage ratio under the Investment Company Act of 1940 (the “1940 Act”) with respect to senior indebtedness was 415% and the Fund’s asset coverage ratio under the 1940 Act with respect to total leverage was 326%.

	As of August 31, 2021
	Amount (millions)			Per Share
Investments	$	581.3		$	42.75
Cash and Cash Equivalents		5.0			0.37
Other Assets		9.4			0.69
Total Assets	$	595.7		$	43.81
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	$	1.5		$	0.11
Total Liabilities	$	1.5		$	0.11
Net Assets	$	412.1		$	30.31
Outstanding Shares		13,595,347
* The Fund's asset coverage ratio under the 1940 Act with respect to senior indebtedness was 415%.
* The Fund's asset coverage ratio under the 1940 Act with respect to total leverage was 326%.
Top Ten Equity Holdings (as of August 31, 2021)**
Name	Market Value (millions)			% of Investments		***
MPLX LP	$	49.1			8.4%
Enterprise Products Partners LP	$	46.8			8.0%
Targa Resources Corp.	$	37.2			6.4%
Williams Cos. Inc.	$	35.3			6.1%
ONEOK Inc.	$	34.6			5.9%
Magellan Midstream Partners LP	$	32.5			5.6%
DCP Midstream LP	$	31.3			5.4%
Western Midstream Partners LP	$	28.6			4.9%
Energy Transfer LP	$	27.6			4.7%
Enbridge Inc.	$	26.8			4.6%
	$	349.8			60.0%
** 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/20210908005520/en/

Investor Contact: 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 August 31, 2021?

The net assets of ClearBridge MLP and Midstream Fund (CEM) are $412.1 million as of August 31, 2021.

What is the net asset value per share for CEM?

The net asset value per share for ClearBridge MLP and Midstream Fund (CEM) is $30.31.

What were the asset coverage ratios reported by CEM?

ClearBridge MLP and Midstream Fund reported asset coverage ratios of 415% for senior indebtedness and 326% for total leverage.

How much does CEM have in total investments?

ClearBridge MLP and Midstream Fund has total investments amounting to $581.3 million.

How many outstanding shares does ClearBridge MLP and Midstream Fund have?

ClearBridge MLP and Midstream Fund has 13,595,347 outstanding shares.