GDO: A CEF Aiming To Turn Perpetual [Seeking Alpha]
Western Asset Global Corporate Defined Opportunity Fund Inc. Western Asset Global Corporate Defined Opportunity Fund Inc. (GDO)
US:NYSE Investor Relations:
leggmason.com/en-us/products/closed-end-funds/western-asset-global-corporate-defined-opportunity-fund-inc.html
Company Research
Source: Seeking Alpha
Western Asset Global Corporate Defined Opportunity Fund is seeking shareholder approval to become a perpetual CEF through a tender offer at NAV. Shareholders should consider tendering their shares, as there are no specific incentives for a perpetual conversion, and the fund's discount to NAV may become more volatile. GDO has a global bond portfolio composition, with an investment grade tilted collateral pool. Thesis We are seeing a developing trend this year in the term CEF market, where asset managers are putting together corporate actions to entice shareholders to vote on converting term CEFs to perpetual ones. We first started covering this trend with Nuveen Preferred & Income Term Fund ( JPI ) which now aims to become perpetual. We are now seeing more corporate actions of the same nature coming to market, with the latest one in relation to Western Asset Global Corporate Defined Opportunity Fund ( NYSE: GDO We have covered this name before here , where we described the f
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GDO
News
- Western Asset Global Corporate Defined Opportunity Fund Inc. Announces Results of Annual Meeting of StockholdersBusiness Wire
- Western Asset Global Corporate Defined Opportunity Fund Inc. Announces Financial Position as of January 31, 2024 [Yahoo! Finance]Yahoo! Finance
- Western Asset Global Corporate Defined Opportunity Fund Inc. Announces Financial Position as of January 31, 2024Business Wire
- Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE: GDO) Announces Portfolio Management Team UpdateBusiness Wire
GDO
Sec Filings
- 4/29/24 - Form DEFA14A
- 4/4/24 - Form DEF
- 3/26/24 - Form NPORT-P
- GDO's page on the SEC website