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

Rhea-AI Summary

ClearBridge MLP and Midstream Total Return Fund (NYSE: CTR) released its unaudited financials as of December 31, 2021. The fund's net assets stood at $207.1 million, with a net asset value per share of $29.30. Notably, the asset coverage ratio for senior debt was 421%, and 362% for total leverage. The fund repurchased and retired 7,691 shares for $183,002 during December. The financial data is unaudited and available for review.

Positive

• Net assets increased to $207.1 million.
• Net asset value per share at $29.30 reflects solid valuation.
• Strong asset coverage ratios: 421% for senior debt and 362% for total leverage.
• Successful share repurchase of 7,691 shares totaling $183,002, indicating commitment to shareholder value.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- ClearBridge MLP and Midstream Total Return Fund Inc. (NYSE: CTR) announced today the unaudited statement of assets and liabilities, the net asset value and asset coverage ratio of the Fund as of December 31, 2021.

As of December 31, 2021, the Fund’s net assets were $207.1 million, and its net asset value per share was $29.30. The Fund’s asset coverage ratio under the Investment Company Act of 1940 (the “1940 Act”) with respect to senior indebtedness was 421% and the Fund’s asset coverage ratio under the 1940 Act with respect to total leverage was 362%.

	As of December 31, 2021
	Amount (millions)			Per Share
Investments	$	274.0		$	38.77
Cash and Cash Equivalents		8.6			1.22
Other Assets		4.3			0.61
Total Assets	$	286.9		$	40.60
Senior Notes*	$	27.4		$	3.88
Loans Outstanding*		40.5			5.73
Mandatory Redeemable Preferred Shares*		11.0			1.56
Total Leverage	$	78.9		$	11.17
Other Liabilities	$	0.9		$	0.13
Total Liabilities	$	0.9		$	0.13
Net Assets	$	207.1		$	29.30
Outstanding Shares		7,069,600
* The Fund's asset coverage ratio under the 1940 Act with respect to senior indebtedness was 421%.
* The Fund's asset coverage ratio under the 1940 Act with respect to total leverage was 362%.
Top Ten Equity Holdings (as of December 31, 2021)**
	Market Value
Name	(millions)			% of Investments			***
MPLX LP	$	21.0			7.7	%
Enterprise Products Partners LP	$	20.5			7.5	%
Energy Transfer LP	$	20.1			7.3	%
Targa Resources Corp.	$	19.9			7.3	%
Western Midstream Partners LP	$	17.9			6.5	%
ONEOK Inc.	$	14.7			5.4	%
DCP Midstream LP	$	14.4			5.2	%
Williams Cos. Inc.	$	13.5			4.9	%
Plains All American Pipeline LP	$	12.6			4.6	%
Delek Logistics Partners LP	$	11.5			4.2	%
	$	166.1			60.6	%
** Subject to change at any time
*** Percent of Total Equity Investments

During the month ended December 31, 2021, the Fund repurchased in the open market and retired 7,691 of its common shares under the stock repurchase plan for a total amount of $183,002.

ClearBridge MLP and Midstream Total Return 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/20220107005173/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 per share of CTR as of December 31, 2021?

The net asset value per share of CTR is $29.30 as of December 31, 2021.

What was the total amount of net assets for ClearBridge MLP and Midstream Total Return Fund?

The total net assets for ClearBridge MLP and Midstream Total Return Fund were $207.1 million.

What are the asset coverage ratios of CTR?

The asset coverage ratio for senior debt is 421%, and for total leverage, it is 362%.

How many shares did CTR repurchase in December 2021?

CTR repurchased and retired 7,691 shares in December 2021.

What was the total amount spent on share repurchases by ClearBridge MLP?

The total amount spent on share repurchases was $183,002.