ClearBridge MLP and Midstream Fund Inc. Announces Unaudited Balance Sheet Information as of September 30, 2023

Rhea-AI Summary

ClearBridge MLP and Midstream Fund Inc. announces unaudited statement of assets and liabilities as of September 30, 2023.

Positive

• The Fund's net assets were $555.2 million with a net asset value per share of $41.76.

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 September 30, 2023.

As of September 30, 2023, the Fund’s net assets were $555.2 million, and its net asset value per share was $41.76. The Fund’s asset coverage ratio under the Investment Company Act of 1940 (the “1940 Act”) with respect to senior indebtedness was 407% and the Fund’s asset coverage ratio under the 1940 Act with respect to total leverage was 316%.

	As of September 30, 2023
	Amount (millions)			Per Share
Investments	$	796.5		$	59.91
Cash and Cash Equivalents		26.9			2.02
Other Assets		33.0			2.48
Total Assets	$	856.4		$	64.41
Senior Notes*	$	45.0		$	3.38
Loans Outstanding*		154.5			11.62
Mandatory Redeemable Preferred Shares*		57.4			4.32
Total Leverage	$	256.9		$	19.32
Other Liabilities	$	44.3		$	3.33
Total Liabilities	$	44.3		$	3.33
Net Assets	$	555.2		$	41.76
Outstanding Shares		13,294,195
* The Fund's asset coverage ratio under the 1940 Act with respect to senior indebtedness was 407%.
* The Fund's asset coverage ratio under the 1940 Act with respect to total leverage was 316%.
Top Ten Equity Holdings (as of September 30, 2023)**
	Market Value
Name	(millions)			% of Investments
ONEOK Inc.	$	73.2			9.2%
Energy Transfer LP	$	70.4			8.8%
MPLX LP	$	68.3			8.6%
Enterprise Products Partners LP	$	67.9			8.5%
Western Midstream Partners LP	$	57.9			7.3%
Targa Resources Corp.	$	50.0			6.3%
Plains All American Pipeline LP	$	43.7			5.5%
Plains GP Holdings LP	$	43.4			5.5%
Williams Cos. Inc.	$	42.8			5.4%
Crestwood Equity Partners LP	$	35.9			4.5%
	$	553.5			69.6%
** 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/20231006804170/en/

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

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

FAQ

What is the net asset value of ClearBridge MLP and Midstream Fund Inc.?

The net asset value of the Fund is $41.76 per share.

What is the asset coverage ratio of the Fund?

The asset coverage ratio of the Fund is 407% with respect to senior indebtedness and 316% with respect to total leverage.

Who advises and subadvises ClearBridge MLP and Midstream Fund Inc.?

The Fund is advised by Legg Mason Partners Fund Advisor, LLC and subadvised by ClearBridge Investments, LLC.

Where can I find the Fund's reports and financial statements?

The Fund's reports and financial statements are available on the SEC's website at www.sec.gov.

How can I contact the Fund for more information?

You can call 1-888-777-0102 or visit the Fund's website at www.franklintempleton.com/investments/options/closed-end-funds.