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

Rhea-AI Summary

ClearBridge MLP and Midstream Fund Inc. (NYSE: CEM) released its unaudited assets and liabilities statement for June 30, 2022. The Fund reported net assets of $466.7 million and a net asset value per share of $34.69. The asset coverage ratio for senior indebtedness was 377%, while the ratio for total leverage stood at 311%. Total investments amounted to $666.8 million, with cash equivalents of $13.7 million. The Fund has 13,455,195 outstanding shares.

Positive

• Net assets reported at $466.7 million.
• Net asset value per share is $34.69.
• Strong asset coverage ratio of 377% for senior indebtedness.
• Total investments valued at $666.8 million.

Negative

• Total liabilities noted at $2 million, which could affect overall leverage.

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 June 30, 2022.

As of June 30, 2022, the Fund’s net assets were $466.7 million, and its net asset value per share was $34.69. The Fund’s asset coverage ratio under the Investment Company Act of 1940 (the “1940 Act”) with respect to senior indebtedness was 377% and the Fund’s asset coverage ratio under the 1940 Act with respect to total leverage was 311%.

	As of June 30, 2022
	Amount (millions)			Per Share
Investments	$	666.8		$	49.56
Cash and Cash Equivalents		13.7			1.02
Other Assets		9.3			0.69
Total Assets	$	689.8		$	51.27
Senior Notes*	$	73.3		$	5.45
Loans Outstanding*		109.0			8.10
Mandatory Redeemable Preferred Shares*		38.8			2.88
Total Leverage	$	221.1		$	16.43
Other Liabilities	$	2.0		$	0.15
Total Liabilities	$	2.0		$	0.15
Net Assets	$	466.7		$	34.69
Outstanding Shares		13,455,195
* The Fund's asset coverage ratio under the 1940 Act with respect to senior indebtedness was 377%.
* The Fund's asset coverage ratio under the 1940 Act with respect to total leverage was 311%.
Top Ten Equity Holdings (as of June 30, 2022)**
	Market Value
Name	(millions)			% of Investments
Enterprise Products Partners LP	$	52.1			7.8%
MPLX LP	$	51.4			7.7%
Western Midstream Partners LP	$	48.7			7.3%
Energy Transfer LP	$	46.9			7.0%
Magellan Midstream Partners LP	$	40.5			6.1%
Williams Cos. Inc.	$	38.8			5.8%
Targa Resources Corp.	$	34.8			5.2%
ONEOK Inc.	$	28.6			4.3%
DCP Midstream LP	$	28.6			4.3%
Enbridge Inc.	$	27.7			4.1%
	$	398.1			59.6%
** 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/20220708005138/en/

Investor: 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 Inc. as of June 30, 2022?

The net assets of ClearBridge MLP and Midstream Fund Inc. were $466.7 million as of June 30, 2022.

What is the net asset value per share for CEM as of June 30, 2022?

The net asset value per share for CEM was $34.69 as of June 30, 2022.

What is the asset coverage ratio for CEM with respect to senior indebtedness?

The asset coverage ratio for CEM with respect to senior indebtedness was 377% as of June 30, 2022.

How much total investments does ClearBridge MLP and Midstream Fund Inc. have?

The total investments for ClearBridge MLP and Midstream Fund Inc. were $666.8 million as of June 30, 2022.

What is the total leverage reported for CEM?

The total leverage reported for CEM was $221.1 million.