NEW YORK--(BUSINESS WIRE)--
Western Asset Premier Bond Fund (NYSE:WEA) announced today that it
commenced an issuer tender offer for up to 100% of its outstanding
auction rate preferred shares (ARPS) at a price equal to 97% of the
liquidation preference of $25,000 per share (or $24,250 per share), plus
any unpaid dividends accrued through July 3, 2014, the expiration date
of the tender offer. Additional terms of the tender offer are set forth
in the fund’s tender offer materials, which have been filed with the
Securities and Exchange Commission and will be distributed to ARPS
The fund’s tender offer is conditioned upon the fund closing on a
secured credit facility and certain other conditions as set forth in the
fund’s offer to purchase and related letter of transmittal. The fund
currently intends to replace any leverage associated with the tendered
ARPS with borrowing under the secured credit facility.
Any questions about the tender offers can be directed to Deutsche Bank
Trust Company Americas, the information agent for the tender offer, at
The tender offer will be made only by an offer to purchase, a related
letter of transmittal, and related documents, which have been filed with
the Securities and Exchange Commission as exhibits to a tender offer
statement on schedule TO. ARPS holders can obtain the tender offer
documents free of charge on the Securities and Exchange Commission’s
website at www.sec.gov.
In addition, ARPS holders may obtain additional copies of the offer to
purchase and related letter of transmittal for the fund, without charge,
by contacting the information agent for the tender offer at (877)
843-9767. ARPS holders should read these documents and related exhibits
for the fund carefully as the documents contain important information
about the fund’s tender offer and proxy solicitation.
Western Asset Premier Bond Fund is a closed-end management investment
company that invests primarily in a diversified portfolio of debt
securities. It has been advised by Western Asset Management Company, a
subsidiary of Legg Mason, Inc., since the fund’s inception in 2002.
Additional information regarding the matters addressed in the press
release may be announced subsequently via press release under the fund’s
ticker, which can be accessed at www.lmcef.com.
THIS RELEASE IS NOT A PROSPECTUS, CIRCULAR OR REPRESENTATION INTENDED
FOR USE IN THE PURCHASE OR SALE OF FUND SHARES. THIS PRESS RELEASE MAY
CONTAIN STATEMENTS REGARDING PLANS AND EXPECTATIONS FOR THE FUTURE THAT
CONSTITUTE FORWARD-LOOKING STATEMENTS WITHIN THE PRIVATE SECURITIES
LITIGATION REFORM ACT OF 1995. ALL STATEMENTS OTHER THAN STATEMENTS OF
HISTORICAL FACT ARE FORWARD-LOOKING AND CAN BE IDENTIFIED BY THE USE OF
WORDS SUCH AS “MAY,” “WILL,” “EXPECT,” “ANTICIPATE,” “ESTIMATE,”
“BELIEVE,” “CONTINUE” OR OTHER SIMILAR WORDS. SUCH FORWARD-LOOKING
STATEMENTS ARE BASED ON THE FUND’S CURRENT PLANS AND EXPECTATIONS, AND
ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS
TO DIFFER MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING
STATEMENTS. ADDITIONAL INFORMATION CONCERNING SUCH RISKS AND
UNCERTAINTIES ARE CONTAINED IN THE FUND’S FILINGS WITH THE SECURITIES
AND EXCHANGE COMMISSION.
For more information, please call 1-888-777-0102 or consult the fund’s
web site at www.lmcef.com.
Western Asset Management Company and Legg Mason Investor Services, LLC
are subsidiaries of Legg Mason, Inc.
© 2014 Legg Mason Investor Services, LLC. Member FINRA, SIPC
Western Asset Premier Bond Fund
Source: Western Asset Premier Bond Fund