ClearBridge Energy MLP Opportunity Fund Inc. (“the Fund”) (NYSE: EMO) announced today it completed a private placement of $150 million of fixed-rate senior secured notes on February 7, 2013. Net proceeds from the offering will be used to repay outstanding borrowings on a floating rate line of credit, make new portfolio investments, and for general corporate purposes. After the private placement, the Fund’s total leverage is $190 million or 22.3% of managed assets, comprised of 79% in fixed-rate securities and 21% in floating rate financing.
The table below summarizes the key terms of the offering.
|Senior secured notes|
For more information, please contact the Fund at 1-888-777-0102 or visit the Fund’s website at: www.lmcef.com
ClearBridge Energy MLP Opportunity 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”) (formerly ClearBridge Advisors, LLC).