Western Asset Income Fund Buyback
OLI recorded this information on 11/20/2015
Company:
Western Asset Income Fund
Buyback:
PAI buyback
Share Amount Authorized:
10% of each Fund's outstanding common stock when the Fund's shares are trading at a discount to net asset value
Buyback Details:
Western Asset Premier Bond Fund (NYSE:WEA) and Western Asset Income Fund (NYSE:PAI) announced today that the Board of Directors of each Fund has authorized such Fund to repurchase in the open market up to approximately 10% of each Fund's outstanding common stock when the Fund's shares are trading at a discount to net asset value. The Board of Directors of each Fund has directed management of the Fund to repurchase shares of common stock at such times and in such amounts as management reasonably believes may enhance stockholder value. The Funds are under no obligation to purchase shares at any specific discount levels or in any specific amounts. Each Fund's repurchase activity will be disclosed in its stockholder report for the relevant fiscal period.
Western Asset Investment Grade Income Fund is registered as a closed-end, diversified management investment company. The Fund's primary investment objective is to seek a high level of current income, consistent with prudent investment risk. Capital appreciation is a secondary investment objective.
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