WESTERN ASSET GLOBAL HIGH INCOME FUND INC.
Schedule of investments (unaudited) | August 31, 2021 |
(Percentages shown based on Fund net assets)
SECURITY‡ | RATE | MATURITY DATE | FACE AMOUNT† | VALUE | ||||||||||||
CORPORATE BONDS & NOTES - 104.6% | ||||||||||||||||
COMMUNICATION SERVICES - 15.8% | ||||||||||||||||
Diversified Telecommunication Services - 2.8% |
| |||||||||||||||
Altice France Holding SA, Senior Secured Notes | 10.500 | % | 5/15/27 | 990,000 | $ | 1,089,000 | (a) | |||||||||
Altice France SA, Senior Secured Notes | 7.375 | % | 5/1/26 | 2,677,000 | 2,781,992 | (a) | ||||||||||
Altice France SA, Senior Secured Notes | 8.125 | % | 2/1/27 | 856,000 | 930,900 | (a) | ||||||||||
British Telecommunications PLC, Senior Notes | 9.625 | % | 12/15/30 | 60,000 | 92,624 | |||||||||||
Cogent Communications Group Inc., Senior Secured Notes | 5.375 | % | 3/1/22 | 190,000 | 192,616 | (a) | ||||||||||
Intelsat Jackson Holdings SA, Senior Secured Notes | 8.000 | % | 2/15/24 | 740,000 | 769,189 | (a) | ||||||||||
Telecom Italia SpA, Senior Notes | 5.303 | % | 5/30/24 | 450,000 | 489,128 | (a) | ||||||||||
Turk Telekomunikasyon AS, Senior Notes | 6.875 | % | 2/28/25 | 500,000 | 550,710 | (a) | ||||||||||
|
| |||||||||||||||
Total Diversified Telecommunication Services |
| 6,896,159 | ||||||||||||||
|
| |||||||||||||||
Media - 7.4% | ||||||||||||||||
CCO Holdings LLC/CCO Holdings Capital Corp., Senior Notes | 5.125 | % | 5/1/27 | 3,140,000 | 3,286,622 | (a) | ||||||||||
Clear Channel Outdoor Holdings Inc., Senior Notes | 7.500 | % | 6/1/29 | 710,000 | 735,738 | (a) | ||||||||||
DIRECTV Holdings LLC/DIRECTV Financing Co. Inc., Senior Secured Notes | 5.875 | % | 8/15/27 | 1,040,000 | 1,088,521 | (a) | ||||||||||
DISH DBS Corp., Senior Notes | 5.875 | % | 11/15/24 | 2,546,000 | 2,740,132 | |||||||||||
DISH DBS Corp., Senior Notes | 7.750 | % | 7/1/26 | 6,717,000 | 7,702,384 | |||||||||||
DISH DBS Corp., Senior Notes | 5.125 | % | 6/1/29 | 700,000 | 697,375 | (a) | ||||||||||
Univision Communications Inc., Senior Secured Notes | 9.500 | % | 5/1/25 | 1,710,000 | 1,866,038 | (a) | ||||||||||
|
| |||||||||||||||
Total Media | 18,116,810 | |||||||||||||||
|
| |||||||||||||||
Wireless Telecommunication Services - 5.6% |
| |||||||||||||||
Sprint Capital Corp., Senior Notes | 6.875 | % | 11/15/28 | 560,000 | 730,668 | |||||||||||
Sprint Capital Corp., Senior Notes | 8.750 | % | 3/15/32 | 1,160,000 | 1,778,350 | |||||||||||
Sprint Communications Inc., Senior Notes | 11.500 | % | 11/15/21 | 3,455,000 | 3,530,492 | |||||||||||
Sprint Corp., Senior Notes | 7.250 | % | 9/15/21 | 1,440,000 | 1,444,968 | |||||||||||
Sprint Corp., Senior Notes | 7.875 | % | 9/15/23 | 2,960,000 | 3,357,232 | |||||||||||
T-Mobile USA Inc., Senior Notes | 2.875 | % | 2/15/31 | 1,250,000 | 1,285,937 |
See Notes to Schedule of Investments.
Western Asset Global High Income Fund Inc. 2021 Quarterly Report |
1 |
WESTERN ASSET GLOBAL HIGH INCOME FUND INC.
Schedule of investments (unaudited) (cont’d) | August 31, 2021 |
(Percentages shown based on Fund net assets)
SECURITY‡ | RATE | MATURITY DATE | FACE AMOUNT† | VALUE | ||||||||||||
Wireless Telecommunication Services - (continued) | ||||||||||||||||
VEON Holdings BV, Senior Notes | 7.504 | % | 3/1/22 | 1,050,000 | $ | 1,085,458 | (b) | |||||||||
VEON Holdings BV, Senior Notes | 7.504 | % | 3/1/22 | 450,000 | 465,197 | (a) | ||||||||||
|
| |||||||||||||||
Total Wireless Telecommunication Services |
| 13,678,302 | ||||||||||||||
|
| |||||||||||||||
TOTAL COMMUNICATION SERVICES | 38,691,271 | |||||||||||||||
|
| |||||||||||||||
CONSUMER DISCRETIONARY - 14.6% | ||||||||||||||||
Auto Components - 2.3% | ||||||||||||||||
Adient Global Holdings Ltd., Senior Notes | 4.875 | % | 8/15/26 | 530,000 | 545,238 | (a) | ||||||||||
Adient US LLC, Senior Secured Notes | 9.000 | % | 4/15/25 | 1,020,000 | 1,113,301 | (a) | ||||||||||
American Axle & Manufacturing Inc., Senior Notes | 6.500 | % | 4/1/27 | 1,190,000 | 1,250,987 | |||||||||||
American Axle & Manufacturing Inc., Senior Notes | 5.000 | % | 10/1/29 | 1,040,000 | 1,041,097 | |||||||||||
JB Poindexter & Co. Inc., Senior Notes | 7.125 | % | 4/15/26 | 1,520,000 | 1,605,500 | (a) | ||||||||||
|
| |||||||||||||||
Total Auto Components | 5,556,123 | |||||||||||||||
|
| |||||||||||||||
Automobiles - 2.2% | ||||||||||||||||
Ford Motor Co., Senior Notes | 9.000 | % | 4/22/25 | 1,780,000 | 2,176,851 | |||||||||||
Ford Motor Credit Co. LLC, Senior Notes | 4.250 | % | 9/20/22 | 200,000 | 206,000 | |||||||||||
Ford Motor Credit Co. LLC, Senior Notes | 2.900 | % | 2/16/28 | 450,000 | 448,938 | |||||||||||
Ford Motor Credit Co. LLC, Senior Notes | 4.000 | % | 11/13/30 | 880,000 | 929,531 | |||||||||||
General Motors Co., Senior Notes | 6.125 | % | 10/1/25 | 350,000 | 413,016 | |||||||||||
Nissan Motor Co. Ltd., Senior Notes | 4.810 | % | 9/17/30 | 1,120,000 | 1,269,897 | (a) | ||||||||||
|
| |||||||||||||||
Total Automobiles | 5,444,233 | |||||||||||||||
|
| |||||||||||||||
Diversified Consumer Services - 1.0% | ||||||||||||||||
Carriage Services Inc., Senior Notes | 4.250 | % | 5/15/29 | 320,000 | 320,899 | (a) | ||||||||||
Service Corp. International, Senior Notes | 7.500 | % | 4/1/27 | 770,000 | 944,736 | |||||||||||
StoneMor Inc., Senior Secured Notes | 8.500 | % | 5/15/29 | 1,100,000 | 1,126,417 | (a) | ||||||||||
|
| |||||||||||||||
Total Diversified Consumer Services | 2,392,052 | |||||||||||||||
|
| |||||||||||||||
Hotels, Restaurants & Leisure - 8.4% | ||||||||||||||||
Carnival Corp., Senior Notes | 7.625 | % | 3/1/26 | 460,000 | 489,670 | (a) | ||||||||||
Carnival Corp., Senior Notes | 5.750 | % | 3/1/27 | 1,210,000 | 1,238,635 | (a) | ||||||||||
Carrols Restaurant Group Inc., Senior Notes | 5.875 | % | 7/1/29 | 1,090,000 | 1,053,360 | (a) |
See Notes to Schedule of Investments.
2 | Western Asset Global High Income Fund Inc. 2021 Quarterly Report |
WESTERN ASSET GLOBAL HIGH INCOME FUND INC.
Schedule of investments (unaudited) (cont’d) | August 31, 2021 |
(Percentages shown based on Fund net assets)
SECURITY‡ | RATE | MATURITY DATE | FACE AMOUNT† | VALUE | ||||||||||||
Hotels, Restaurants & Leisure - (continued) | ||||||||||||||||
IRB Holding Corp., Senior Secured Notes | 7.000 | % | 6/15/25 | 1,160,000 | $ | 1,241,838 | (a) | |||||||||
NCL Corp. Ltd., Senior Secured Notes | 12.250 | % | 5/15/24 | 1,480,000 | 1,748,265 | (a) | ||||||||||
NCL Corp. Ltd., Senior Secured Notes | 10.250 | % | 2/1/26 | 2,280,000 | 2,636,740 | (a) | ||||||||||
Royal Caribbean Cruises Ltd., Senior Notes | 5.500 | % | 8/31/26 | 1,060,000 | 1,075,900 | (a) | ||||||||||
Royal Caribbean Cruises Ltd., Senior Notes | 5.500 | % | 4/1/28 | 1,210,000 | 1,220,472 | (a) | ||||||||||
Saga PLC, Senior Notes | 3.375 | % | 5/12/24 | 1,270,000 | GBP | 1,688,736 | (b) | |||||||||
Viking Cruises Ltd., Senior Notes | 5.875 | % | 9/15/27 | 450,000 | 436,057 | (a) | ||||||||||
Viking Cruises Ltd., Senior Notes | 7.000 | % | 2/15/29 | 1,210,000 | 1,224,883 | (a) | ||||||||||
VOC Escrow Ltd., Senior Secured Notes | 5.000 | % | 2/15/28 | 1,724,000 | 1,706,898 | (a) | ||||||||||
Wynn Macau Ltd., Senior Notes | 4.875 | % | 10/1/24 | 250,000 | 252,191 | (a) | ||||||||||
Wynn Macau Ltd., Senior Notes | 5.625 | % | 8/26/28 | 960,000 | 973,641 | (a) | ||||||||||
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp., Senior Notes | 7.750 | % | 4/15/25 | 2,710,000 | 2,882,871 | (a) | ||||||||||
Yum! Brands Inc., Senior Notes | 7.750 | % | 4/1/25 | 620,000 | 668,757 | (a) | ||||||||||
|
| |||||||||||||||
Total Hotels, Restaurants & Leisure | 20,538,914 | |||||||||||||||
|
| |||||||||||||||
Specialty Retail - 0.6% | ||||||||||||||||
Michaels Cos. Inc., Senior Notes | 7.875 | % | 5/1/29 | 300,000 | 309,510 | (a) | ||||||||||
Michaels Cos. Inc., Senior Secured Notes | 5.250 | % | 5/1/28 | 330,000 | 339,075 | (a) | ||||||||||
Party City Holdings Inc., Senior Secured Notes | 8.750 | % | 2/15/26 | 690,000 | 720,187 | (a) | ||||||||||
|
| |||||||||||||||
Total Specialty Retail | 1,368,772 | |||||||||||||||
|
| |||||||||||||||
Textiles, Apparel & Luxury Goods - 0.1% | ||||||||||||||||
Hanesbrands Inc., Senior Notes | 4.875 | % | 5/15/26 | 250,000 | 273,125 | (a) | ||||||||||
|
| |||||||||||||||
TOTAL CONSUMER DISCRETIONARY | 35,573,219 | |||||||||||||||
|
| |||||||||||||||
CONSUMER STAPLES - 0.7% | ||||||||||||||||
Food Products - 0.3% | ||||||||||||||||
Kraft Heinz Foods Co., Senior Notes | 4.375 | % | 6/1/46 | 740,000 | 859,538 | |||||||||||
|
| |||||||||||||||
Household Products - 0.4% | ||||||||||||||||
Spectrum Brands Inc., Senior Notes | 5.750 | % | 7/15/25 | 840,000 | 861,000 | |||||||||||
|
| |||||||||||||||
TOTAL CONSUMER STAPLES | 1,720,538 | |||||||||||||||
|
| |||||||||||||||
ENERGY - 26.3% | ||||||||||||||||
Energy Equipment & Services - 0.4% | ||||||||||||||||
Sunnova Energy Corp., Senior Notes | 5.875 | % | 9/1/26 | 860,000 | 867,267 | (a) | ||||||||||
|
|
See Notes to Schedule of Investments.
Western Asset Global High Income Fund Inc. 2021 Quarterly Report |
3 |
WESTERN ASSET GLOBAL HIGH INCOME FUND INC.
Schedule of investments (unaudited) (cont’d) | August 31, 2021 |
(Percentages shown based on Fund net assets)
SECURITY‡ | RATE | MATURITY DATE | FACE AMOUNT† | VALUE | ||||||||||||
Oil, Gas & Consumable Fuels - 25.9% | ||||||||||||||||
Apache Corp., Senior Notes | 5.100 | % | 9/1/40 | 1,400,000 | $ | 1,559,278 | ||||||||||
Blue Racer Midstream LLC/Blue Racer Finance Corp., Senior Notes | 7.625 | % | 12/15/25 | 100,000 | 108,251 | (a) | ||||||||||
Continental Resources Inc., Senior Notes | 3.800 | % | 6/1/24 | 1,040,000 | 1,111,500 | |||||||||||
Continental Resources Inc., Senior Notes | 4.375 | % | 1/15/28 | 790,000 | 887,889 | |||||||||||
Continental Resources Inc., Senior Notes | 4.900 | % | 6/1/44 | 300,000 | 338,340 | |||||||||||
Diamondback Energy Inc., Senior Notes | 3.500 | % | 12/1/29 | 730,000 | 786,951 | |||||||||||
Ecopetrol SA, Senior Notes | 5.875 | % | 5/28/45 | 1,500,000 | 1,610,400 | |||||||||||
El Paso Natural Gas Co. LLC, Senior Notes | 8.375 | % | 6/15/32 | 70,000 | 103,856 | |||||||||||
Energy Transfer LP, Junior Subordinated Notes (6.500% to 11/15/26 then 5 year Treasury Constant Maturity Rate + 5.694%) | 6.500 | % | 11/15/26 | 290,000 | 298,056 | (c)(d) | ||||||||||
Energy Transfer LP, Junior Subordinated Notes (6.625% to 2/15/28 then 3 mo. USD LIBOR + 4.155%) | 6.625 | % | 2/15/28 | 700,000 | 676,375 | (c)(d) | ||||||||||
Energy Transfer LP, Junior Subordinated Notes (6.750% to 5/15/25 then 5 year Treasury Constant Maturity Rate + 5.134%) | 6.750 | % | 5/15/25 | 640,000 | 648,032 | (c)(d) | ||||||||||
Energy Transfer LP, Junior Subordinated Notes (7.125% to 5/15/30 then 5 year Treasury Constant Maturity Rate + 5.306%) | 7.125 | % | 5/15/30 | 120,000 | 123,720 | (c)(d) | ||||||||||
EQM Midstream Partners LP, Senior Notes | 6.500 | % | 7/1/27 | 610,000 | 680,946 | (a) | ||||||||||
EQT Corp., Senior Notes | 3.900 | % | 10/1/27 | 1,380,000 | 1,491,835 | |||||||||||
EQT Corp., Senior Notes | 7.500 | % | 2/1/30 | 880,000 | 1,144,550 | |||||||||||
Kinder Morgan Inc., Senior Notes | 7.750 | % | 1/15/32 | 1,390,000 | 2,012,900 | |||||||||||
Lukoil International Finance BV, Senior Notes | 6.656 | % | 6/7/22 | 496,000 | 518,603 | (b) | ||||||||||
MEG Energy Corp., Secured Notes | 6.500 | % | 1/15/25 | 160,000 | 165,400 | (a) | ||||||||||
NGPL PipeCo LLC, Senior Notes | 7.768 | % | 12/15/37 | 1,430,000 | 2,064,399 | (a) | ||||||||||
Oasis Petroleum Inc., Senior Notes | 6.375 | % | 6/1/26 | 1,310,000 | 1,368,950 | (a) |
See Notes to Schedule of Investments.
4 | Western Asset Global High Income Fund Inc. 2021 Quarterly Report |
WESTERN ASSET GLOBAL HIGH INCOME FUND INC.
Schedule of investments (unaudited) (cont’d) | August 31, 2021 |
(Percentages shown based on Fund net assets)
SECURITY‡ | RATE | MATURITY DATE | FACE AMOUNT† | VALUE | ||||||||||||
Oil, Gas & Consumable Fuels - (continued) | ||||||||||||||||
Occidental Petroleum Corp., Senior Notes | 6.950 | % | 7/1/24 | 440,000 | $ | 496,186 | ||||||||||
Occidental Petroleum Corp., Senior Notes | 2.900 | % | 8/15/24 | 710,000 | 728,638 | |||||||||||
Occidental Petroleum Corp., Senior Notes | 5.550 | % | 3/15/26 | 450,000 | 502,313 | |||||||||||
Occidental Petroleum Corp., Senior Notes | 6.200 | % | 3/15/40 | 310,000 | 370,138 | |||||||||||
Petrobras Global Finance BV, Senior Notes | 4.375 | % | 5/20/23 | 690,000 | 732,263 | |||||||||||
Petrobras Global Finance BV, Senior Notes | 6.875 | % | 1/20/40 | 2,190,000 | 2,623,160 | (e) | ||||||||||
Petrobras Global Finance BV, Senior Notes | 6.750 | % | 1/27/41 | 3,910,000 | 4,616,517 | |||||||||||
Petroleos del Peru SA, Senior Notes | 4.750 | % | 6/19/32 | 750,000 | 784,706 | (a) | ||||||||||
Petroleos Mexicanos, Senior Notes | 6.375 | % | 1/23/45 | 3,982,000 | 3,416,198 | |||||||||||
Range Resources Corp., Senior Notes | 5.000 | % | 3/15/23 | 1,100,000 | 1,130,316 | |||||||||||
Range Resources Corp., Senior Notes | 4.875 | % | 5/15/25 | 770,000 | 797,913 | |||||||||||
Range Resources Corp., Senior Notes | 9.250 | % | 2/1/26 | 4,580,000 | 5,014,276 | |||||||||||
Range Resources Corp., Senior Notes | 8.250 | % | 1/15/29 | 430,000 | 477,878 | (a) | ||||||||||
Rockies Express Pipeline LLC, Senior Notes | 6.875 | % | 4/15/40 | 1,070,000 | 1,181,114 | (a) | ||||||||||
Targa Resources Partners LP/Targa Resources Partners Finance Corp., Senior Notes | 6.500 | % | 7/15/27 | 1,220,000 | 1,322,443 | |||||||||||
Targa Resources Partners LP/Targa Resources Partners Finance Corp., Senior Notes | 6.875 | % | 1/15/29 | 560,000 | 630,252 | |||||||||||
Transcontinental Gas Pipe Line Co. LLC, Senior Notes | 7.850 | % | 2/1/26 | 1,500,000 | 1,888,417 | |||||||||||
Transportadora de Gas del Sur SA, Senior Notes | 6.750 | % | 5/2/25 | 1,430,000 | 1,356,283 | (a) | ||||||||||
Western Midstream Operating LP, Senior Notes | 5.300 | % | 2/1/30 | 340,000 | 381,584 | |||||||||||
Western Midstream Operating LP, Senior Notes | 5.450 | % | 4/1/44 | 2,000,000 | 2,277,070 |
See Notes to Schedule of Investments.
Western Asset Global High Income Fund Inc. 2021 Quarterly Report |
5 |
WESTERN ASSET GLOBAL HIGH INCOME FUND INC.
Schedule of investments (unaudited) (cont’d) | August 31, 2021 |
(Percentages shown based on Fund net assets)
SECURITY‡ | RATE | MATURITY DATE | FACE AMOUNT† | VALUE | ||||||||||||
Oil, Gas & Consumable Fuels - (continued) | ||||||||||||||||
Western Midstream Operating LP, Senior Notes | 5.300 | % | 3/1/48 | 500,000 | $ | 563,143 | ||||||||||
Western Midstream Operating LP, Senior Notes | 6.500 | % | 2/1/50 | 6,216,000 | 7,336,620 | |||||||||||
Williams Cos. Inc., Senior Notes | 3.700 | % | 1/15/23 | 500,000 | 518,251 | |||||||||||
Williams Cos. Inc., Senior Notes | 4.550 | % | 6/24/24 | 680,000 | 745,014 | |||||||||||
Williams Cos. Inc., Senior Notes | 7.500 | % | 1/15/31 | 340,000 | 475,495 | |||||||||||
Williams Cos. Inc., Senior Notes | 8.750 | % | 3/15/32 | 486,000 | 753,515 | |||||||||||
Williams Cos. Inc., Senior Notes | 5.750 | % | 6/24/44 | 1,510,000 | 2,020,117 | |||||||||||
YPF SA, Senior Notes | 8.500 | % | 7/28/25 | 2,830,000 | 2,433,800 | (a) | ||||||||||
|
| |||||||||||||||
Total Oil, Gas & Consumable Fuels | 63,273,851 | |||||||||||||||
|
| |||||||||||||||
TOTAL ENERGY | 64,141,118 | |||||||||||||||
|
| |||||||||||||||
FINANCIALS - 14.6% | ||||||||||||||||
Banks - 10.0% | ||||||||||||||||
Bank of America Corp., Junior Subordinated Notes (6.500% to 10/23/24 then 3 mo. USD LIBOR + 4.174%) | 6.500 | % | 10/23/24 | 1,200,000 | 1,356,000 | (c)(d) | ||||||||||
Barclays Bank PLC, Subordinated Notes | 7.625 | % | 11/21/22 | 366,000 | 394,926 | |||||||||||
Barclays PLC, Junior Subordinated Notes (8.000% to 6/15/24 then 5 year Treasury Constant Maturity Rate + 5.672%) | 8.000 | % | 6/15/24 | 900,000 | 1,023,188 | (c)(d) | ||||||||||
BBVA Bancomer SA, Subordinated Notes (5.125% to 1/17/28 then 5 year Treasury Constant Maturity Rate + 2.650%) | 5.125 | % | 1/18/33 | 1,840,000 | 1,920,693 | (a)(d) | ||||||||||
BNP Paribas SA, Junior Subordinated Notes (7.375% to 8/19/25 then USD 5 year ICE Swap Rate + 5.150%) | 7.375 | % | 8/19/25 | 1,360,000 | 1,589,085 | (a)(c)(d) | ||||||||||
Citigroup Inc., Junior Subordinated Notes (5.950% to 5/15/25 then 3 mo. USD LIBOR + 3.905%) | 5.950 | % | 5/15/25 | 540,000 | 594,000 | (c)(d) | ||||||||||
Citigroup Inc., Junior Subordinated Notes (6.300% to 5/15/24 then 3 mo. USD LIBOR + 3.423%) | 6.300 | % | 5/15/24 | 1,030,000 | 1,107,065 | (c)(d) |
See Notes to Schedule of Investments.
6 | Western Asset Global High Income Fund Inc. 2021 Quarterly Report |
WESTERN ASSET GLOBAL HIGH INCOME FUND INC.
Schedule of investments (unaudited) (cont’d) | August 31, 2021 |
(Percentages shown based on Fund net assets)
SECURITY‡ | RATE | MATURITY DATE | FACE AMOUNT† | VALUE | ||||||||||||
Banks - (continued) | ||||||||||||||||
Credit Agricole SA, Junior Subordinated Notes (8.125% to 12/23/25 then USD 5 year ICE Swap Rate + 6.185%) | 8.125 | % | 12/23/25 | 2,160,000 | $ | 2,633,850 | (a)(c)(d) | |||||||||
Intesa Sanpaolo SpA, Subordinated Notes | 5.710 | % | 1/15/26 | 4,250,000 | 4,782,482 | (a) | ||||||||||
JPMorgan Chase & Co., Junior Subordinated Notes (6.100% to 10/1/24 then 3 mo. USD LIBOR + 3.330%) | 6.100 | % | 10/1/24 | 1,000,000 | 1,091,875 | (c)(d) | ||||||||||
Natwest Group PLC, Junior Subordinated Notes (7.648% to 9/30/31 then 3 mo. USD LIBOR + 2.500%) | 7.648 | % | 9/30/31 | 660,000 | 970,626 | (c)(d) | ||||||||||
NatWest Markets NV, Subordinated Notes | 7.750 | % | 5/15/23 | 490,000 | 548,064 | |||||||||||
Santander UK Group Holdings PLC, Junior Subordinated Notes (7.375% to 6/24/22 then GBP 5 year Swap Rate + 5.543%) | 7.375 | % | 6/24/22 | 1,240,000 | GBP | 1,793,810 | (b)(c)(d) | |||||||||
TC Ziraat Bankasi AS, Senior Notes | 5.125 | % | 9/29/23 | 1,890,000 | 1,950,764 | (a) | ||||||||||
UniCredit SpA, Subordinated Notes (7.296% to 4/2/29 then USD 5 year ICE Swap Rate + 4.914%) | 7.296 | % | 4/2/34 | 2,170,000 | 2,627,142 | (a)(d) | ||||||||||
|
| |||||||||||||||
Total Banks | 24,383,570 | |||||||||||||||
|
| |||||||||||||||
Capital Markets - 1.2% | ||||||||||||||||
Credit Suisse Group AG, Junior Subordinated Notes (7.250% to 9/12/25 then USD 5 year ICE Swap Rate + 4.332%) | 7.250 | % | 9/12/25 | 1,770,000 | 1,987,090 | (a)(c)(d) | ||||||||||
UBS Group AG, Junior Subordinated Notes (7.000% to 1/31/24 then USD 5 year ICE Swap Rate + 4.344%) | 7.000 | % | 1/31/24 | 820,000 | 899,528 | (a)(c)(d) | ||||||||||
|
| |||||||||||||||
Total Capital Markets | 2,886,618 | |||||||||||||||
|
| |||||||||||||||
Consumer Finance - 0.4% | ||||||||||||||||
Navient Corp., Senior Notes | 5.875 | % | 10/25/24 | 480,000 | 523,656 | |||||||||||
Navient Corp., Senior Notes | 6.750 | % | 6/15/26 | 410,000 | 463,300 | |||||||||||
|
| |||||||||||||||
Total Consumer Finance | 986,956 | |||||||||||||||
|
| |||||||||||||||
Diversified Financial Services - 3.0% | ||||||||||||||||
AerCap Ireland Capital DAC/AerCap Global Aviation Trust, Senior Notes | 4.625 | % | 10/15/27 | 1,640,000 | 1,832,392 |
See Notes to Schedule of Investments.
Western Asset Global High Income Fund Inc. 2021 Quarterly Report |
7 |
WESTERN ASSET GLOBAL HIGH INCOME FUND INC.
Schedule of investments (unaudited) (cont’d) | August 31, 2021 |
(Percentages shown based on Fund net assets)
SECURITY‡ | RATE | MATURITY DATE | FACE AMOUNT† | VALUE | ||||||||||||
Diversified Financial Services - (continued) | ||||||||||||||||
GE Capital International Funding Co. Unlimited Co., Senior Notes | 3.373 | % | 11/15/25 | 1,000,000 | $ | 1,093,894 | ||||||||||
Global Aircraft Leasing Co. Ltd., Senior Notes (6.500% Cash or 7.250% PIK) | 6.500 | % | 9/15/24 | 3,779,825 | 3,751,476 | (a)(f) | ||||||||||
Huarong Finance 2019 Co. Ltd., Senior Notes | 2.500 | % | 2/24/23 | 360,000 | 351,000 | (b) | ||||||||||
Huarong Finance 2019 Co. Ltd., Senior Notes | 2.125 | % | 9/30/23 | 400,000 | 382,000 | (b) | ||||||||||
|
| |||||||||||||||
Total Diversified Financial Services | 7,410,762 | |||||||||||||||
|
| |||||||||||||||
TOTAL FINANCIALS | 35,667,906 | |||||||||||||||
|
| |||||||||||||||
HEALTH CARE - 7.3% | ||||||||||||||||
Health Care Providers & Services - 1.0% | ||||||||||||||||
CHS/Community Health Systems Inc., Senior Secured Notes | 8.000 | % | 3/15/26 | 750,000 | 803,775 | (a) | ||||||||||
Magellan Health Inc., Senior Notes | 4.900 | % | 9/22/24 | 820,000 | 904,386 | |||||||||||
Tenet Healthcare Corp., Senior Secured Notes | 7.500 | % | 4/1/25 | 750,000 | 803,468 | (a) | ||||||||||
|
| |||||||||||||||
Total Health Care Providers & Services |
| 2,511,629 | ||||||||||||||
|
| |||||||||||||||
Pharmaceuticals - 6.3% | ||||||||||||||||
Bausch Health Americas Inc., Senior Notes | 8.500 | % | 1/31/27 | 1,110,000 | 1,195,137 | (a) | ||||||||||
Bausch Health Cos. Inc., Senior Notes | 6.125 | % | 4/15/25 | 2,426,000 | 2,483,617 | (a) | ||||||||||
Cidron Aida Finco Sarl, Senior Secured Notes | 6.250 | % | 4/1/28 | 540,000 | GBP | 757,267 | (a) | |||||||||
Endo Luxembourg Finance Co. I Sarl/Endo US Inc., Senior Secured Notes | 6.125 | % | 4/1/29 | 630,000 | 624,510 | (a) | ||||||||||
Teva Pharmaceutical Finance Co. BV, Senior Notes | 2.950 | % | 12/18/22 | 2,440,000 | 2,461,350 | |||||||||||
Teva Pharmaceutical Finance IV BV, Senior Notes | 3.650 | % | 11/10/21 | 460,000 | 461,212 | |||||||||||
Teva Pharmaceutical Finance Netherlands III BV, Senior Notes | 2.800 | % | 7/21/23 | 1,910,000 | 1,886,220 |
See Notes to Schedule of Investments.
8 | Western Asset Global High Income Fund Inc. 2021 Quarterly Report |
WESTERN ASSET GLOBAL HIGH INCOME FUND INC.
Schedule of investments (unaudited) (cont’d) | August 31, 2021 |
(Percentages shown based on Fund net assets)
SECURITY‡ | RATE | MATURITY DATE | FACE AMOUNT† | VALUE | ||||||||||||
Pharmaceuticals - (continued) | ||||||||||||||||
Teva Pharmaceutical Finance Netherlands III BV, Senior Notes | 6.000 | % | 4/15/24 | 4,450,000 | $ | 4,666,003 | ||||||||||
Teva Pharmaceutical Finance Netherlands III BV, Senior Notes | 3.150 | % | 10/1/26 | 700,000 | 669,470 | |||||||||||
|
| |||||||||||||||
Total Pharmaceuticals | 15,204,786 | |||||||||||||||
|
| |||||||||||||||
TOTAL HEALTH CARE | 17,716,415 | |||||||||||||||
|
| |||||||||||||||
INDUSTRIALS - 14.4% | ||||||||||||||||
Aerospace & Defense - 1.1% | ||||||||||||||||
TransDigm Inc., Senior Secured Notes | 8.000 | % | 12/15/25 | 2,520,000 | 2,699,550 | (a) | ||||||||||
|
| |||||||||||||||
Airlines - 11.1% | ||||||||||||||||
American Airlines Inc./AAdvantage Loyalty IP Ltd., Senior Secured Notes | 5.500 | % | 4/20/26 | 160,000 | 168,840 | (a) | ||||||||||
American Airlines Inc./AAdvantage Loyalty IP Ltd., Senior Secured Notes | 5.750 | % | 4/20/29 | 380,000 | 410,864 | (a) | ||||||||||
Delta Air Lines Inc., Senior Notes | 3.625 | % | 3/15/22 | 2,470,000 | 2,496,169 | |||||||||||
Delta Air Lines Inc., Senior Notes | 3.800 | % | 4/19/23 | 2,570,000 | 2,664,109 | |||||||||||
Delta Air Lines Inc., Senior Notes | 2.900 | % | 10/28/24 | 840,000 | 856,368 | |||||||||||
Delta Air Lines Inc., Senior Notes | 7.375 | % | 1/15/26 | 690,000 | 812,789 | |||||||||||
Delta Air Lines Inc., Senior Secured Notes | 7.000 | % | 5/1/25 | 6,050,000 | 7,080,732 | (a) | ||||||||||
Hawaiian Brand Intellectual Property Ltd./HawaiianMiles Loyalty Ltd., Senior Secured Notes | 5.750 | % | 1/20/26 | 740,000 | 780,241 | (a) | ||||||||||
Mileage Plus Holdings LLC/Mileage Plus Intellectual Property Assets Ltd., Senior Secured Notes | 6.500 | % | 6/20/27 | 2,500,000 | 2,719,000 | (a) | ||||||||||
Spirit Loyalty Cayman Ltd./Spirit IP Cayman Ltd., Senior Secured Notes | 8.000 | % | 9/20/25 | 3,156,000 | 3,578,115 | (a) | ||||||||||
United Airlines Holdings Inc., Senior Notes | 4.250 | % | 10/1/22 | 2,460,000 | 2,512,275 | |||||||||||
United Airlines Holdings Inc., Senior Notes | 5.000 | % | 2/1/24 | 2,300,000 | 2,383,375 | |||||||||||
United Airlines Inc., Senior Secured Notes | 4.625 | % | 4/15/29 | 270,000 | 280,469 | (a) | ||||||||||
United Airlines Pass-Through Trust | 4.875 | % | 1/15/26 | 224,220 | 236,307 | |||||||||||
|
| |||||||||||||||
Total Airlines | 26,979,653 | |||||||||||||||
|
|
See Notes to Schedule of Investments.
Western Asset Global High Income Fund Inc. 2021 Quarterly Report |
9 |
WESTERN ASSET GLOBAL HIGH INCOME FUND INC.
Schedule of investments (unaudited) (cont’d) | August 31, 2021 |
(Percentages shown based on Fund net assets)
SECURITY‡ | RATE | MATURITY DATE | FACE AMOUNT† | VALUE | ||||||||||||
Building Products - 0.5% | ||||||||||||||||
Standard Industries Inc., Senior Notes | 5.000 | % | 2/15/27 | 1,240,000 | $ | 1,283,400 | (a) | |||||||||
|
| |||||||||||||||
Commercial Services & Supplies - 1.1% | ||||||||||||||||
Allied Universal Holdco LLC/Allied Universal Finance Corp., Senior Notes | 6.000 | % | 6/1/29 | 810,000 | 810,976 | (a) | ||||||||||
Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl, Senior Secured Notes | 4.625 | % | 6/1/28 | 230,000 | 230,863 | (a) | ||||||||||
CoreCivic Inc., Senior Notes | 8.250 | % | 4/15/26 | 920,000 | 972,362 | |||||||||||
CoreCivic Inc., Senior Notes | 4.750 | % | 10/15/27 | 668,000 | 617,619 | |||||||||||
|
| |||||||||||||||
Total Commercial Services & Supplies | 2,631,820 | |||||||||||||||
|
| |||||||||||||||
Industrial Conglomerates - 0.2% | ||||||||||||||||
Alfa SAB de CV, Senior Notes | 6.875 | % | 3/25/44 | 400,000 | 549,014 | (a) | ||||||||||
|
| |||||||||||||||
Machinery - 0.2% | ||||||||||||||||
Titan International Inc., Senior Secured Notes | 7.000 | % | 4/30/28 | 570,000 | 596,482 | (a) | ||||||||||
|
| |||||||||||||||
Trading Companies & Distributors - 0.2% | ||||||||||||||||
United Rentals North America Inc., Senior Notes | 5.500 | % | 5/15/27 | 500,000 | 528,030 | |||||||||||
|
| |||||||||||||||
TOTAL INDUSTRIALS | 35,267,949 | |||||||||||||||
|
| |||||||||||||||
INFORMATION TECHNOLOGY - 2.4% | ||||||||||||||||
Communications Equipment - 0.8% | ||||||||||||||||
CommScope Inc., Senior Notes | 8.250 | % | 3/1/27 | 1,920,000 | 2,026,464 | (a) | ||||||||||
CommScope Technologies LLC, Senior Notes | 6.000 | % | 6/15/25 | 32,000 | 32,584 | (a) | ||||||||||
|
| |||||||||||||||
Total Communications Equipment | 2,059,048 | |||||||||||||||
|
| |||||||||||||||
Software - 0.1% | ||||||||||||||||
Rocket Software Inc., Senior Notes | 6.500 | % | 2/15/29 | 270,000 | 254,775 | (a) | ||||||||||
|
| |||||||||||||||
Technology Hardware, Storage & Peripherals - 1.5% |
| |||||||||||||||
Dell International LLC/EMC Corp., Senior Notes | 7.125 | % | 6/15/24 | 1,010,000 | 1,032,725 | (a) | ||||||||||
Seagate HDD Cayman, Senior Notes | 4.750 | % | 6/1/23 | 410,000 | 436,856 | |||||||||||
Seagate HDD Cayman, Senior Notes | 4.750 | % | 1/1/25 | 1,330,000 | 1,468,254 | |||||||||||
Seagate HDD Cayman, Senior Notes | 4.875 | % | 6/1/27 | 630,000 | 705,776 | |||||||||||
|
| |||||||||||||||
Total Technology Hardware, Storage & Peripherals |
| 3,643,611 | ||||||||||||||
|
| |||||||||||||||
TOTAL INFORMATION TECHNOLOGY | 5,957,434 | |||||||||||||||
|
|
See Notes to Schedule of Investments.
10 | Western Asset Global High Income Fund Inc. 2021 Quarterly Report |
WESTERN ASSET GLOBAL HIGH INCOME FUND INC.
Schedule of investments (unaudited) (cont’d) | August 31, 2021 |
(Percentages shown based on Fund net assets)
SECURITY‡ | RATE | MATURITY DATE | FACE AMOUNT† | VALUE | ||||||||||||
MATERIALS - 5.7% | ||||||||||||||||
Chemicals - 1.5% | ||||||||||||||||
Braskem America Finance Co., Senior Notes | 7.125 | % | 7/22/41 | 1,060,000 | $ | 1,401,898 | (b) | |||||||||
Orbia Advance Corp. SAB de CV, Senior Notes | 5.875 | % | 9/17/44 | 1,000,000 | 1,266,300 | (a) | ||||||||||
Sasol Financing USA LLC, Senior Notes | 5.500 | % | 3/18/31 | 1,000,000 | 1,058,780 | |||||||||||
|
| |||||||||||||||
Total Chemicals | 3,726,978 | |||||||||||||||
|
| |||||||||||||||
Containers & Packaging - 1.4% | ||||||||||||||||
ARD Finance SA, Senior Secured Notes (6.500% Cash or 7.250% PIK) | 6.500 | % | 6/30/27 | 1,080,000 | 1,138,784 | (a)(f) | ||||||||||
Pactiv LLC, Senior Notes | 7.950 | % | 12/15/25 | 1,020,000 | 1,158,975 | |||||||||||
Trivium Packaging Finance BV, Senior Notes | 8.500 | % | 8/15/27 | 950,000 | 1,021,250 | (a) | ||||||||||
|
| |||||||||||||||
Total Containers & Packaging | 3,319,009 | |||||||||||||||
|
| |||||||||||||||
Metals & Mining - 2.8% | ||||||||||||||||
Anglo American Capital PLC, Senior Notes | 4.875 | % | 5/14/25 | 359,000 | 405,379 | (a) | ||||||||||
ArcelorMittal SA, Senior Notes | 7.000 | % | 10/15/39 | 1,140,000 | 1,640,278 | |||||||||||
First Quantum Minerals Ltd., Senior Notes | 7.250 | % | 4/1/23 | 1,340,000 | 1,367,637 | (a) | ||||||||||
Freeport-McMoRan Inc., Senior Notes | 3.875 | % | 3/15/23 | 680,000 | 703,800 | |||||||||||
Southern Copper Corp., Senior Notes | 5.250 | % | 11/8/42 | 1,620,000 | 2,084,073 | |||||||||||
Teck Resources Ltd., Senior Notes | 6.000 | % | 8/15/40 | 460,000 | 594,700 | |||||||||||
|
| |||||||||||||||
Total Metals & Mining | 6,795,867 | |||||||||||||||
|
| |||||||||||||||
TOTAL MATERIALS | 13,841,854 | |||||||||||||||
|
| |||||||||||||||
REAL ESTATE - 1.0% | ||||||||||||||||
Equity Real Estate Investment Trusts (REITs) - 0.3% |
| |||||||||||||||
Diversified Healthcare Trust, Senior Notes | 9.750 | % | 6/15/25 | 660,000 | 726,825 | |||||||||||
|
| |||||||||||||||
Real Estate Management & Development - 0.7% |
| |||||||||||||||
China Aoyuan Group Ltd., Senior Secured Notes | 6.350 | % | 2/8/24 | 400,000 | 374,019 | (b) | ||||||||||
China SCE Group Holdings Ltd., Senior Secured Notes | 6.000 | % | 2/4/26 | 400,000 | 385,019 | (b) |
See Notes to Schedule of Investments.
Western Asset Global High Income Fund Inc. 2021 Quarterly Report |
11 |
WESTERN ASSET GLOBAL HIGH INCOME FUND INC.
Schedule of investments (unaudited) (cont’d) | August 31, 2021 |
(Percentages shown based on Fund net assets)
SECURITY‡ | RATE | MATURITY DATE | FACE AMOUNT† | VALUE | ||||||||||||
Real Estate Management & Development - (continued) | ||||||||||||||||
Yuzhou Group Holdings Co. Ltd., Senior Secured Notes | 8.500 | % | 2/4/23 | 700,000 | $ | 666,747 | (b) | |||||||||
Yuzhou Group Holdings Co. Ltd., Senior Secured Notes | 6.000 | % | 10/25/23 | 250,000 | 221,642 | (b) | ||||||||||
|
| |||||||||||||||
Total Real Estate Management & Development |
| 1,647,427 | ||||||||||||||
|
| |||||||||||||||
TOTAL REAL ESTATE | 2,374,252 | |||||||||||||||
|
| |||||||||||||||
UTILITIES - 1.8% | ||||||||||||||||
Electric Utilities - 0.5% | ||||||||||||||||
FirstEnergy Corp., Senior Notes | 7.375 | % | 11/15/31 | 330,000 | 461,713 | |||||||||||
Pampa Energia SA, Senior Notes | 7.500 | % | 1/24/27 | 720,000 | 664,200 | (a) | ||||||||||
|
| |||||||||||||||
Total Electric Utilities | 1,125,913 | |||||||||||||||
|
| |||||||||||||||
Gas Utilities - 1.0% | ||||||||||||||||
Suburban Propane Partners LP/ Suburban Energy Finance Corp., Senior Notes | 5.875 | % | 3/1/27 | 2,400,000 | 2,513,232 | |||||||||||
|
| |||||||||||||||
Independent Power and Renewable Electricity Producers - 0.3% |
| |||||||||||||||
Minejesa Capital BV, Senior Secured Notes | 5.625 | % | 8/10/37 | 780,000 | 846,998 | (a) | ||||||||||
|
| |||||||||||||||
TOTAL UTILITIES | 4,486,143 | |||||||||||||||
|
| |||||||||||||||
TOTAL CORPORATE BONDS & NOTES |
| 255,438,099 | ||||||||||||||
|
| |||||||||||||||
SOVEREIGN BONDS - 19.8% | ||||||||||||||||
Argentina - 1.6% | ||||||||||||||||
Argentine Republic Government International Bond, Senior Notes | 1.000 | % | 7/9/29 | 508,291 | 209,375 | |||||||||||
Argentine Republic Government International Bond, Senior Notes, Step bond (0.500% to 7/9/23 then 0.750%) | 0.500 | % | 7/9/30 | 1,408,700 | 553,211 | |||||||||||
Provincia de Buenos Aires, Senior Notes | 9.950 | % | 6/9/22 | 3,280,000 | 1,848,280 | *(a)(g) | ||||||||||
Provincia de Cordoba, Senior Notes, Step bond (5.000% to 6/10/22 then 6.875%) | 5.000 | % | 12/10/25 | 500,000 | 388,755 | (b) | ||||||||||
Provincia de Cordoba, Senior Notes, Step bond (5.000% to 6/10/22 then 6.875%) | 5.000 | % | 12/10/25 | 300,000 | 233,253 | (a) | ||||||||||
Provincia de Cordoba, Senior Notes, Step bond (5.000% to 6/1/22 then 6.990%) | 5.000 | % | 6/1/27 | 1,040,000 | 712,410 | (a) | ||||||||||
|
| |||||||||||||||
Total Argentina | 3,945,284 | |||||||||||||||
|
|
See Notes to Schedule of Investments.
12 | Western Asset Global High Income Fund Inc. 2021 Quarterly Report |
WESTERN ASSET GLOBAL HIGH INCOME FUND INC.
Schedule of investments (unaudited) (cont’d) | August 31, 2021 |
(Percentages shown based on Fund net assets)
SECURITY‡ | RATE | MATURITY DATE | FACE AMOUNT† | VALUE | ||||||||||||
Bahamas - 0.2% | ||||||||||||||||
Bahamas Government International Bond, Senior Notes | 6.950 | % | 11/20/29 | 468,000 | $ | 486,725 | (a) | |||||||||
|
| |||||||||||||||
Brazil - 0.1% | ||||||||||||||||
Brazil Notas do Tesouro Nacional Serie F, Notes | 10.000 | % | 1/1/25 | 1,242,000 | BRL | 243,446 | ||||||||||
|
| |||||||||||||||
Chile - 0.4% | ||||||||||||||||
Chile Government International Bond, Senior Notes | 2.550 | % | 1/27/32 | 1,000,000 | 1,029,540 | |||||||||||
|
| |||||||||||||||
Colombia - 0.6% | ||||||||||||||||
Colombia Government International Bond, Senior Notes | 7.375 | % | 9/18/37 | 1,042,000 | 1,355,850 | |||||||||||
|
| |||||||||||||||
Costa Rica - 0.2% | ||||||||||||||||
Costa Rica Government International Bond, Senior Notes | 7.158 | % | 3/12/45 | 500,000 | 523,755 | (a) | ||||||||||
|
| |||||||||||||||
Croatia - 0.4% | ||||||||||||||||
Croatia Government International Bond, Senior Notes | 5.500 | % | 4/4/23 | 450,000 | 485,297 | (b) | ||||||||||
Croatia Government International Bond, Senior Notes | 5.500 | % | 4/4/23 | 410,000 | 442,160 | (a) | ||||||||||
|
| |||||||||||||||
Total Croatia | 927,457 | |||||||||||||||
|
| |||||||||||||||
Ecuador - 0.4% | ||||||||||||||||
Ecuador Government International Bond, Senior Notes | 0.000 | % | 7/31/30 | 1,334,000 | 760,393 | (a) | ||||||||||
Ecuador Government International Bond, Senior Notes, Step bond (5.000% to 7/31/22 then 5.500%) | 5.000 | % | 7/31/30 | 384,000 | 342,724 | (a) | ||||||||||
|
| |||||||||||||||
Total Ecuador | 1,103,117 | |||||||||||||||
|
| |||||||||||||||
Egypt - 0.9% | ||||||||||||||||
Egypt Government International Bond, Senior Notes | 7.600 | % | 3/1/29 | 1,950,000 | 2,145,292 | (a) | ||||||||||
|
| |||||||||||||||
Gabon - 0.2% | ||||||||||||||||
Gabon Government International Bond, Senior Notes | 6.625 | % | 2/6/31 | 450,000 | 457,778 | (b) | ||||||||||
|
| |||||||||||||||
Ghana - 0.6% | ||||||||||||||||
Ghana Government International Bond | 10.750 | % | 10/14/30 | 920,000 | 1,155,796 | (a) | ||||||||||
Ghana Government International Bond, Senior Notes | 8.125 | % | 1/18/26 | 270,000 | 281,903 | (a) | ||||||||||
|
| |||||||||||||||
Total Ghana | 1,437,699 | |||||||||||||||
|
|
See Notes to Schedule of Investments.
Western Asset Global High Income Fund Inc. 2021 Quarterly Report |
13 |
WESTERN ASSET GLOBAL HIGH INCOME FUND INC.
Schedule of investments (unaudited) (cont’d) | August 31, 2021 |
(Percentages shown based on Fund net assets)
SECURITY‡ | RATE | MATURITY DATE | FACE AMOUNT† | VALUE | ||||||||||||
Guatemala - 0.2% | ||||||||||||||||
Guatemala Government Bond, Senior Notes | 4.375 | % | 6/5/27 | 370,000 | $ | 402,934 | (a) | |||||||||
|
| |||||||||||||||
Honduras - 0.2% | ||||||||||||||||
Honduras Government International Bond, Senior Notes | 7.500 | % | 3/15/24 | 400,000 | 429,604 | (b) | ||||||||||
|
| |||||||||||||||
Indonesia - 1.2% | ||||||||||||||||
Indonesia Government International Bond, Senior Notes | 6.625 | % | 2/17/37 | 1,135,000 | 1,595,417 | (b) | ||||||||||
Indonesia Treasury Bond | 6.500 | % | 2/15/31 | 16,834,000,000 | IDR | 1,216,002 | ||||||||||
Indonesia Treasury Bond | 8.375 | % | 3/15/34 | 209,000,000 | IDR | 16,801 | ||||||||||
|
| |||||||||||||||
Total Indonesia | 2,828,220 | |||||||||||||||
|
| |||||||||||||||
Ivory Coast - 0.4% | ||||||||||||||||
Ivory Coast Government International Bond, Senior Notes, Step bond | 5.750 | % | 12/31/32 | 1,022,917 | 1,042,231 | (a) | ||||||||||
|
| |||||||||||||||
Jamaica - 0.3% | ||||||||||||||||
Jamaica Government International Bond, Senior Notes | 8.000 | % | 3/15/39 | 500,000 | 711,255 | |||||||||||
|
| |||||||||||||||
Kenya - 0.3% | ||||||||||||||||
Republic of Kenya Government International Bond, Senior Notes | 7.250 | % | 2/28/28 | 600,000 | 676,745 | (a) | ||||||||||
|
| |||||||||||||||
Mexico - 1.4% | ||||||||||||||||
Mexican Bonos, Senior Notes | 7.750 | % | 11/23/34 | 56,080,000 | MXN | 2,927,642 | ||||||||||
Mexican Bonos, Senior Notes | 7.750 | % | 11/13/42 | 11,910,000 | MXN | 605,047 | ||||||||||
|
| |||||||||||||||
Total Mexico | 3,532,689 | |||||||||||||||
|
| |||||||||||||||
Nigeria - 0.6% | ||||||||||||||||
Nigeria Government International Bond, Senior Notes | 7.875 | % | 2/16/32 | 1,450,000 | 1,566,596 | (b) | ||||||||||
|
| |||||||||||||||
Oman - 0.4% | ||||||||||||||||
Oman Government International Bond, Senior Notes | 5.625 | % | 1/17/28 | 1,000,000 | 1,062,355 | (a) | ||||||||||
|
| |||||||||||||||
Panama - 1.3% | ||||||||||||||||
Panama Government International Bond, Senior Notes | 2.252 | % | 9/29/32 | 3,270,000 | 3,197,798 | |||||||||||
|
| |||||||||||||||
Paraguay - 0.8% | ||||||||||||||||
Paraguay Government International Bond, Senior Notes | 2.739 | % | 1/29/33 | 1,990,000 | 1,974,578 | (a) | ||||||||||
|
| |||||||||||||||
Peru - 1.7% | ||||||||||||||||
Peruvian Government International Bond, Senior Notes | 7.350 | % | 7/21/25 | 750,000 | 921,465 |
See Notes to Schedule of Investments.
14 | Western Asset Global High Income Fund Inc. 2021 Quarterly Report |
WESTERN ASSET GLOBAL HIGH INCOME FUND INC.
Schedule of investments (unaudited) (cont’d) | August 31, 2021 |
(Percentages shown based on Fund net assets)
SECURITY‡ | RATE | MATURITY DATE | FACE AMOUNT† | VALUE | ||||||||||||
Peru - (continued) | ||||||||||||||||
Peruvian Government International Bond, Senior Notes | 8.750 | % | 11/21/33 | 1,604,000 | $ | 2,530,101 | ||||||||||
Peruvian Government International Bond, Senior Notes | 3.300 | % | 3/11/41 | 590,000 | 599,617 | |||||||||||
|
| |||||||||||||||
Total Peru | 4,051,183 | |||||||||||||||
|
| |||||||||||||||
Russia - 3.3% | ||||||||||||||||
Russian Federal Bond - OFZ | 7.000 | % | 1/25/23 | 74,770,000 | RUB | 1,025,674 | ||||||||||
Russian Federal Bond - OFZ | 7.750 | % | 9/16/26 | 375,770,000 | RUB | 5,368,059 | ||||||||||
Russian Federal Bond - OFZ | 6.900 | % | 5/23/29 | 124,560,000 | RUB | 1,707,880 | ||||||||||
Russian Foreign Bond - Eurobond, Senior Notes | 12.750 | % | 6/24/28 | 42,000 | 70,402 | (b) | ||||||||||
|
| |||||||||||||||
Total Russia | 8,172,015 | |||||||||||||||
|
| |||||||||||||||
Senegal - 0.2% | ||||||||||||||||
Senegal Government International Bond, Senior Notes | 6.250 | % | 7/30/24 | 450,000 | 501,590 | (b) | ||||||||||
|
| |||||||||||||||
Turkey - 1.0% | ||||||||||||||||
Turkey Government International Bond, Senior Notes | 4.250 | % | 4/14/26 | 2,500,000 | 2,447,037 | |||||||||||
|
| |||||||||||||||
Ukraine - 0.9% | ||||||||||||||||
Ukraine Government International Bond, Senior Notes | 7.375 | % | 9/25/32 | 1,950,000 | 2,089,484 | (a) | ||||||||||
|
| |||||||||||||||
TOTAL SOVEREIGN BONDS (Cost - $44,398,617) |
| 48,342,257 | ||||||||||||||
|
| |||||||||||||||
U.S. GOVERNMENT & AGENCY OBLIGATIONS - 9.0% |
| |||||||||||||||
U.S. Government Obligations - 9.0% | ||||||||||||||||
U.S. Treasury Notes | 1.625 | % | 5/31/23 | 2,500,000 | 2,563,916 | (e) | ||||||||||
U.S. Treasury Notes | 2.750 | % | 8/31/23 | 4,250,000 | 4,465,654 | (e) | ||||||||||
U.S. Treasury Notes | 2.875 | % | 9/30/23 | 2,700,000 | 2,848,500 | (e) | ||||||||||
U.S. Treasury Notes | 2.125 | % | 11/30/23 | 4,750,000 | 4,949,463 | (e) | ||||||||||
U.S. Treasury Notes | 2.125 | % | 3/31/24 | 3,000,000 | 3,139,922 | (e) | ||||||||||
U.S. Treasury Notes | 2.000 | % | 6/30/24 | 3,250,000 | 3,399,805 | (e) | ||||||||||
U.S. Treasury Notes | 0.375 | % | 1/31/26 | 500,000 | 493,008 | |||||||||||
|
| |||||||||||||||
TOTAL U.S. GOVERNMENT & AGENCY OBLIGATIONS (Cost - $20,769,163) |
| 21,860,268 | ||||||||||||||
|
|
See Notes to Schedule of Investments.
Western Asset Global High Income Fund Inc. 2021 Quarterly Report |
15 |
WESTERN ASSET GLOBAL HIGH INCOME FUND INC.
Schedule of investments (unaudited) (cont’d) | August 31, 2021 |
(Percentages shown based on Fund net assets)
SECURITY‡ | RATE | MATURITY DATE | FACE AMOUNT† | VALUE | ||||||||||||
SENIOR LOANS - 3.4% | ||||||||||||||||
COMMUNICATION SERVICES - 1.9% | ||||||||||||||||
Media - 1.9% | ||||||||||||||||
Clear Channel Outdoor Holdings Inc., Term Loan B | 3.610-3.630 | % | 8/21/26 | 1,346,574 | $ | 1,317,117 | (d)(h)(i) | |||||||||
DIRECTV Financing LLC, Closing Date Term Loan (the greater of 1 mo. USD LIBOR or 0.750% + 5.000%) | 5.750 | % | 8/2/27 | 3,430,000 | 3,433,499 | (d)(h)(i) | ||||||||||
|
| |||||||||||||||
TOTAL COMMUNICATION SERVICES | 4,750,616 | |||||||||||||||
|
| |||||||||||||||
CONSUMER DISCRETIONARY - 0.4% | ||||||||||||||||
Hotels, Restaurants & Leisure - 0.4% | ||||||||||||||||
Royal Caribbean Cruises Ltd., Term Loan | — | 4/5/22 | 1,000,000 | 968,330 | (j) | |||||||||||
|
| |||||||||||||||
INDUSTRIALS - 1.1% | ||||||||||||||||
Airlines - 1.1% | ||||||||||||||||
United Airlines Inc., Term Loan B (the greater of 1 mo. USD LIBOR or 0.750% + 3.750%) | 4.500 | % | 4/21/28 | 2,693,250 | 2,703,040 | (d)(h)(i) | ||||||||||
|
| |||||||||||||||
TOTAL SENIOR LOANS (Cost - $8,388,027) |
| 8,421,986 | ||||||||||||||
|
| |||||||||||||||
CONVERTIBLE BONDS & NOTES - 1.9% | ||||||||||||||||
COMMUNICATION SERVICES - 1.4% | ||||||||||||||||
Media - 1.4% | ||||||||||||||||
DISH Network Corp., Senior Notes | 3.375 | % | 8/15/26 | 3,370,000 | 3,523,685 | |||||||||||
|
| |||||||||||||||
INDUSTRIALS - 0.5% | ||||||||||||||||
Airlines - 0.5% | ||||||||||||||||
Spirit Airlines Inc., Senior Notes | 1.000 | % | 5/15/26 | 1,250,000 | 1,160,125 | |||||||||||
|
| |||||||||||||||
TOTAL CONVERTIBLE BONDS & NOTES (Cost - $3,974,308) |
| 4,683,810 | ||||||||||||||
|
| |||||||||||||||
SHARES | ||||||||||||||||
CONVERTIBLE PREFERRED STOCKS - 0.4% | ||||||||||||||||
ENERGY - 0.4% | ||||||||||||||||
Oil, Gas & Consumable Fuels - 0.4% | ||||||||||||||||
Targa Resources Corp., Non Voting Shares (Cost - $882,000) | 9.500 | % | 840 | 906,006 |
See Notes to Schedule of Investments.
16 | Western Asset Global High Income Fund Inc. 2021 Quarterly Report |
WESTERN ASSET GLOBAL HIGH INCOME FUND INC.
Schedule of investments (unaudited) (cont’d) | August 31, 2021 |
(Percentages shown based on Fund net assets)
SECURITY‡ | SHARES | VALUE | ||||||||||||||
COMMON STOCKS - 0.2% | ||||||||||||||||
ENERGY - 0.0%†† | ||||||||||||||||
Energy Equipment & Services - 0.0%†† | ||||||||||||||||
Hercules Offshore Inc. (Escrow) | 37,071 | $ | 1,244 | *(k)(l) | ||||||||||||
KCAD Holdings I Ltd. | 77,972,021 | 0 | *(k)(l)(m) | |||||||||||||
|
| |||||||||||||||
TOTAL ENERGY | 1,244 | |||||||||||||||
|
| |||||||||||||||
FINANCIALS - 0.2% | ||||||||||||||||
Capital Markets - 0.2% | ||||||||||||||||
EG Acquisition Corp., Class A Shares | 43,230 | 415,873 | * | |||||||||||||
|
| |||||||||||||||
TOTAL COMMON STOCKS |
| 417,117 | ||||||||||||||
|
| |||||||||||||||
EXPIRATION DATE | WARRANTS | |||||||||||||||
WARRANTS - 0.0%†† | ||||||||||||||||
EG Acquisition Corp., Class A Shares (Cost - $13,797) | 5/28/28 | 14,410 | 10,231 | * | ||||||||||||
|
| |||||||||||||||
TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS |
| 340,079,774 | ||||||||||||||
|
| |||||||||||||||
RATE | SHARES | |||||||||||||||
SHORT-TERM INVESTMENTS - 2.2% | ||||||||||||||||
Western Asset Premier Institutional Government Reserves, Premium Shares (Cost - $5,243,871) | 0.010 | % | 5,243,871 | 5,243,871 | (n) | |||||||||||
|
| |||||||||||||||
TOTAL INVESTMENTS - 141.5% |
| 345,323,645 | ||||||||||||||
Liabilities in Excess of Other Assets - (41.5)% |
| (101,240,700 | ) | |||||||||||||
|
| |||||||||||||||
TOTAL NET ASSETS - 100.0% | $ | 244,082,945 | ||||||||||||||
|
|
See Notes to Schedule of Investments.
Western Asset Global High Income Fund Inc. 2021 Quarterly Report |
17 |
WESTERN ASSET GLOBAL HIGH INCOME FUND INC.
Schedule of investments (unaudited) (cont’d) | August 31, 2021 |
† | Face amount denominated in U.S. dollars, unless otherwise noted. |
‡ | Securities held by the Fund are subject to a lien, granted to the lender, to the extent of the borrowing outstanding and any additional expenses. |
†† | Represents less than 0.1%. |
* | Non-income producing security. |
(a) | Security is exempt from registration under Rule 144A of the Securities Act of 1933. This security may be resold in transactions that are exempt from registration, normally to qualified institutional buyers. This security has been deemed liquid pursuant to guidelines approved by the Board of Directors. |
(b) | Security is exempt from registration under Regulation S of the Securities Act of 1933. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. This security has been deemed liquid pursuant to guidelines approved by the Board of Directors. |
(c) | Security has no maturity date. The date shown represents the next call date. |
(d) | Variable rate security. Interest rate disclosed is as of the most recent information available. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. |
(e) | All or a portion of this security is held by the counterparty as collateral for open reverse repurchase agreements. |
(f) | Payment-in-kind security for which the issuer has the option at each interest payment date of making interest payments in cash or additional securities. |
(g) | The coupon payment on this security is currently in default as of August 31, 2021. |
(h) | Interest rates disclosed represent the effective rates on senior loans. Ranges in interest rates are attributable to multiple contracts under the same loan. |
(i) | Senior loans may be considered restricted in that the Fund ordinarily is contractually obligated to receive approval from the agent bank and/or borrower prior to the disposition of a senior loan. |
(j) | All or a portion of this loan is unfunded as of August 31, 2021. The interest rate for fully unfunded term loans is to be determined. |
(k) | Security is valued in good faith in accordance with procedures approved by the Board of Directors (Note 1). |
(l) | Security is valued using significant unobservable inputs (Note 1). |
(m) | Value is less than $1. |
(n) | In this instance, as defined in the Investment Company Act of 1940, an “Affiliated Company” represents Fund ownership of at least 5% of the outstanding voting securities of an issuer, or a company which is under common ownership or control with the Fund. At August 31, 2021, the total market value of investments in Affiliated Companies was $5,243,871 and the cost was $5,243,871 (Note 2). |
Abbreviation(s) used in this schedule: | ||
BRL | — Brazilian Real | |
GBP | — British Pound | |
ICE | — Intercontinental Exchange | |
IDR | — Indonesian Rupiah | |
LIBOR | — London Interbank Offered Rate | |
MXN | — Mexican Peso | |
OFZ | — Obligatsyi Federal’novo Zaima (Russian Federal Loan Obligation) | |
PIK | — Payment-In-Kind | |
RUB | — Russian Ruble | |
USD | — United States Dollar |
See Notes to Schedule of Investments.
18 | Western Asset Global High Income Fund Inc. 2021 Quarterly Report |
WESTERN ASSET GLOBAL HIGH INCOME FUND INC.
Schedule of investments (unaudited) (cont’d) | August 31, 2021 |
At August 31, 2021, the Fund had the following open reverse repurchase agreements:
Counterparty | Rate | Effective Date | Maturity Date | Face Amount of Reverse Repurchase Agreements | Asset Class of Collateral* | Collateral Value** | ||||||||||||||||||
Deutsche Bank AG | 0.090 | % | 8/26/2021 | 11/26/2021 | $ | 21,471,000 | | U.S. Government & Agency Obligations | | $ | 21,474,167 | |||||||||||||
Goldman Sachs Group Inc. | 0.750 | % | 7/23/2021 | 10/21/2021 | 2,077,763 | | Corporate Bonds & Notes | | 2,640,307 | |||||||||||||||
|
|
|
| |||||||||||||||||||||
$ | 23,548,763 | $ | 24,114,474 | |||||||||||||||||||||
|
|
|
|
* | Refer to the Schedule of Investments for positions held at the counterparty as collateral for reverse repurchase agreements. |
** | Including accrued interest. |
At August 31, 2021, the Fund had the following open forward foreign currency contracts:
Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation (Depreciation) | ||||||||||||||||||
CAD | 28,985 | USD | 23,077 | Citibank N.A. | 10/19/21 | $ | (105 | ) | ||||||||||||||
USD | 1,402,463 | GBP | 1,013,195 | Goldman Sachs Group Inc. | 10/19/21 | 9,320 | ||||||||||||||||
EUR | 100,900 | USD | 120,001 | Morgan Stanley & Co. Inc. | 10/19/21 | (748 | ) | |||||||||||||||
MXN | 1,511,611 | USD | 74,801 | Morgan Stanley & Co. Inc. | 10/19/21 | (41 | ) | |||||||||||||||
|
| |||||||||||||||||||||
Total | $ | 8,426 | ||||||||||||||||||||
|
|
Abbreviation(s) used in this table: | ||
CAD | — Canadian Dollar | |
EUR | — Euro | |
GBP | — British Pound | |
MXN | — Mexican Peso | |
USD | — United States Dollar |
This Schedule of Investments is unaudited and is intended to provide information about the Fund’s investments as of the date of the schedule. Other information regarding the Fund is available in the Fund’s most recent annual or semi-annual shareholder report.
See Notes to Schedule of Investments.
Western Asset Global High Income Fund Inc. 2021 Quarterly Report |
19 |
Notes to Schedule of Investments (unaudited)
1. Organization and significant accounting policies
Western Asset Global High Income Fund Inc. (the “Fund”) was incorporated in Maryland and is registered as a non-diversified, closed-end management investment company under the Investment Company Act of 1940, as amended (the “1940 Act”). The Board of Directors authorized 100 million shares of $0.001 par value common stock. The Fund’s primary investment objective is high current income. The Fund’s secondary investment objective is total return. Under normal market conditions, the Fund invests in a global portfolio of securities consisting of below investment grade fixed income securities, emerging market fixed income securities and investment grade fixed income securities.
The following are significant accounting policies consistently followed by the Fund and are in conformity with U.S. generally accepted accounting principles (“GAAP”).
(a) Investment valuation. The valuations for fixed income securities (which may include, but are not limited to, corporate, government, municipal, mortgage-backed, collateralized mortgage obligations and asset-backed securities) and certain derivative instruments are typically the prices supplied by independent third party pricing services, which may use market prices or broker/dealer quotations or a variety of valuation techniques and methodologies. The independent third party pricing services typically use inputs that are observable such as issuer details, interest rates, yield curves, prepayment speeds, credit risks/spreads, default rates and quoted prices for similar securities. Investments in open-end funds are valued at the closing net asset value per share of each fund on the day of valuation. Equity securities for which market quotations are available are valued at the last reported sales price or official closing price on the primary market or exchange on which they trade. When the Fund holds securities or other assets that are denominated in a foreign currency, the Fund will normally use the currency exchange rates as of 4:00 p.m. (Eastern Time). If independent third party pricing services are unable to supply prices for a portfolio investment, or if the prices supplied are deemed by the manager to be unreliable, the market price may be determined by the manager using quotations from one or more broker/dealers or at the transaction price if the security has recently been purchased and no value has yet been obtained from a pricing service or pricing broker. When reliable prices are not readily available, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded, but before the Fund calculates its net asset value, the Fund values these securities as determined in accordance with procedures approved by the Fund’s Board of Directors.
The Board of Directors is responsible for the valuation process and has delegated the supervision of the daily valuation process to the Global Fund Valuation Committee (the “Valuation Committee”). The Valuation Committee, pursuant to the policies adopted by the Board of Directors, is responsible for making fair value determinations, evaluating the effectiveness of the Fund’s pricing policies, and reporting to the Board of Directors. When determining the reliability of third party pricing information for investments owned by the Fund, the Valuation Committee, among other things, conducts due diligence reviews of pricing vendors, monitors the daily change in prices and reviews transactions among market participants.
20 |
Notes to Schedule of Investments (unaudited) (continued)
The Valuation Committee will consider pricing methodologies it deems relevant and appropriate when making fair value determinations. Examples of possible methodologies include, but are not limited to, multiple of earnings; discount from market of a similar freely traded security; discounted cash-flow analysis; book value or a multiple thereof; risk premium/yield analysis; yield to maturity; and/or fundamental investment analysis. The Valuation Committee will also consider factors it deems relevant and appropriate in light of the facts and circumstances. Examples of possible factors include, but are not limited to, the type of security; the issuer’s financial statements; the purchase price of the security; the discount from market value of unrestricted securities of the same class at the time of purchase; analysts’ research and observations from financial institutions; information regarding any transactions or offers with respect to the security; the existence of merger proposals or tender offers affecting the security; the price and extent of public trading in similar securities of the issuer or comparable companies; and the existence of a shelf registration for restricted securities.
For each portfolio security that has been fair valued pursuant to the policies adopted by the Board of Directors, the fair value price is compared against the last available and next available market quotations. The Valuation Committee reviews the results of such back testing monthly and fair valuation occurrences are reported to the Board of Directors quarterly.
The Fund uses valuation techniques to measure fair value that are consistent with the market approach and/or income approach, depending on the type of security and the particular circumstance. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable securities. The income approach uses valuation techniques to discount estimated future cash flows to present value.
GAAP establishes a disclosure hierarchy that categorizes the inputs to valuation techniques used to value assets and liabilities at measurement date. These inputs are summarized in the three broad levels listed below:
• | Level 1 – quoted prices in active markets for identical investments |
• | Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.) |
• | Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments) |
21 |
Notes to Schedule of Investments (unaudited) (continued)
The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.
The following is a summary of the inputs used in valuing the Fund’s assets and liabilities carried at fair value:
ASSETS | ||||||||||||||||
DESCRIPTION | QUOTED PRICES (LEVEL 1) | OTHER SIGNIFICANT OBSERVABLE INPUTS (LEVEL 2) | SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3) | TOTAL | ||||||||||||
Long-Term Investments†: | ||||||||||||||||
Corporate Bonds & Notes | — | $ | 255,438,099 | — | $ | 255,438,099 | ||||||||||
Sovereign Bonds | — | 48,342,257 | — | 48,342,257 | ||||||||||||
U.S. Government & Agency Obligations | — | 21,860,268 | — | 21,860,268 | ||||||||||||
Senior Loans | — | 8,421,986 | — | 8,421,986 | ||||||||||||
Convertible Bonds & Notes | — | 4,683,810 | — | 4,683,810 | ||||||||||||
Convertible Preferred Stocks | — | 906,006 | — | 906,006 | ||||||||||||
Common Stocks: | ||||||||||||||||
Energy | — | — | $ | 1,244 | 1,244 | |||||||||||
Financials | $ | 415,873 | — | — | 415,873 | |||||||||||
Warrants | 10,231 | — | — | 10,231 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Long-Term Investments | 426,104 | 339,652,426 | 1,244 | 340,079,774 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Short-Term Investments† | 5,243,871 | — | — | 5,243,871 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 5,669,975 | $ | 339,652,426 | $ | 1,244 | $ | 345,323,645 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Other Financial Instruments: | ||||||||||||||||
Forward Foreign Currency Contracts†† | — | $ | 9,320 | — | $ | 9,320 | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Total | $ | 5,669,975 | $ | 339,661,746 | $ | 1,244 | $ | 345,332,965 | ||||||||
|
|
|
|
|
|
|
| |||||||||
LIABILITIES | ||||||||||||||||
DESCRIPTION | QUOTED PRICES (LEVEL 1) | OTHER SIGNIFICANT OBSERVABLE INPUTS (LEVEL 2) | SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3) | TOTAL | ||||||||||||
Other Financial Instruments: | ||||||||||||||||
Forward Foreign Currency Contracts†† | — | $ | 894 | — | $ | 894 |
† | See Schedule of Investments for additional detailed categorizations. |
†† | Reflects the unrealized appreciation (depreciation) of the instruments. |
2. Transactions with affiliated company
As defined by the 1940 Act, an affiliated company is one in which the Fund owns 5% or more of the outstanding voting securities, or a company which is under common ownership or control with the Fund. The following company was considered an affiliated company for all or some portion of the period ended August 31, 2021. The following transactions were effected in such company for the period ended August 31, 2021.
22 |
Notes to Schedule of Investments (unaudited) (continued)
Purchased | Sold | |||||||||||||||||||
Affiliate Value at May 31, | ||||||||||||||||||||
2021 | Cost | Shares | Cost | Shares | ||||||||||||||||
Western Asset Premier Institutional Government Reserves, Premium Shares | $ | 134,264 | $ | 25,953,249 | 25,953,249 | $ | 20,843,642 | 20,843,642 |
(cont’d) | Realized Gain (Loss) | Interest Income | Net Increase (Decrease) in Unrealized Appreciation (Depreciation) | Affiliate Value at August 31, 2021 | ||||||||||||
Western Asset Premier Institutional Government Reserves, Premium Shares | — | $ | 151 | — | $ | 5,243,871 |
23 |