Western Asset Corporate Loan Fund Inc. (NYSE: TLI) (the "Fund") today announced that, based on certified voting results from the Fund’s 2020 Annual Meeting of Stockholders (the "Annual Meeting"), the Fund’s incumbent directors, Nisha Kumar, Eileen A. Kamerick and Daniel P. Cronin, received more votes than any other director candidates. However, no director nominee received sufficient votes to be elected under the Fund’s bylaws and as such the Fund’s incumbent directors will continue to serve on the Board.
Each of the Funds listed above announced today that, due to the public health impact of the coronavirus ("COVID-19") pandemic and to support the health and safety of its shareholders, the location of the Special Meeting of Shareholders (the "Meeting") of the Fund has been changed. As previously announced, each Fund’s Meeting will be held on Friday, June 5, 2020 at 9:00 a.m. Eastern Time. In light of public health concerns regarding COVID-19, the Meeting will be held in a virtual meeting format only. Each Meeting will be accessible solely by means of remote communication.
Western Asset Corporate Loan Fund Inc. (NYSE: TLI) (the "Fund") today announced that Institutional Shareholder Services ("ISS") and Glass Lewis & Co. ("Glass Lewis"), two of the leading independent proxy advisory firms, recommend that shareholders vote to approve the new agreements between the Fund and its investment manager and subadviser.
Western Asset Corporate Loan Fund Inc. (NYSE: TLI) ("the Fund") today announced that Institutional Shareholder Services ("ISS") and Glass Lewis & Co. ("Glass Lewis"), two of the leading independent proxy advisory firms, recommend that stockholders vote "FOR" the Fund’s highly-qualified and experienced director nominees – Nisha Kumar, Eileen A. Kamerick, and Daniel P. Cronin – on the WHITE Proxy Card in connection with the Annual Meeting of Stockholders scheduled for 9:00 a.m. Eastern Time on March 20, 2020.
Western Asset Corporate Loan Fund Inc. (NYSE: TLI) announced today that the Fund has modified its investment policy relating to investments in collateralized senior loans. Effective today, under normal market conditions, the Fund invests at least 80% of managed assets in collateralized senior loans. "Managed assets" means net assets of the Fund plus the amount of any borrowings and assets attributable to any preferred stock that may be outstanding. Previously, the Fund, under normal market conditions, invested at least 80% of total assets in collateralized senior loans.