{"id":858426,"date":"2025-06-09T08:05:14","date_gmt":"2025-06-09T12:05:14","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/western-asset-high-yield-defined-opportunity-fund-inc-announces-results-of-special-meeting-of-stockholders-and-other-fund-developments\/"},"modified":"2025-06-09T08:05:14","modified_gmt":"2025-06-09T12:05:14","slug":"western-asset-high-yield-defined-opportunity-fund-inc-announces-results-of-special-meeting-of-stockholders-and-other-fund-developments","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/western-asset-high-yield-defined-opportunity-fund-inc-announces-results-of-special-meeting-of-stockholders-and-other-fund-developments\/","title":{"rendered":"Western Asset High Yield Defined Opportunity Fund Inc. Announces Results of Special Meeting of Stockholders and Other Fund Developments"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwlistdisc { list-style-type: disc }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Western Asset High Yield Defined Opportunity Fund Inc. Announces Results of Special Meeting of Stockholders and Other Fund Developments<\/b><\/p>\n<p>NEW YORK&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nWestern Asset High Yield Defined Opportunity Fund Inc. (the \u201cFund\u201d), which is traded on the New York Stock Exchange under the symbol \u201cHYI,\u201d announced today the results of the votes cast at the Fund\u2019s re-convened Special Meeting of Stockholders held on June 6, 2025. The Special Meeting of Stockholders was originally held on May 22, 2025, but was adjourned to permit further solicitation of proxies.<\/p>\n<p>\nStockholders approved the proposal to convert the Fund to a perpetual fund by eliminating the Fund\u2019s term, which was scheduled to end at the close of business on September 30, 2025, and eliminating the Fund\u2019s fundamental policy to liquidate on or about September 30, 2025.<\/p>\n<p>\nAs a result of the proposal\u2019s approval, the following will occur:<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nThe Fund will conduct a tender offer for up to 100% of the Fund\u2019s outstanding shares of common stock (\u201cShares\u201d) at a price per share equal to 100% of the Fund\u2019s net asset value per Share on the day on which the tender offer expires (the \u201cTender Offer\u201d). The Fund expects the Tender Offer to commence on or about June 20, 2025, with an expiration time of 5:00 p.m., New York City time, on or about July 21, 2025, unless extended. To ensure the Fund can pay proceeds for repurchased Shares promptly after the expiration of the Tender Offer, the Fund intends to reposition its portfolio in an orderly manner in advance of the expiration of the Tender Offer.<\/p>\n<\/li>\n<li>\nIf the Fund maintains at least $75 million of net assets following the Tender Offer, the Fund will change its name from \u201cWestern Asset High Yield Defined Opportunity Fund Inc.\u201d to \u201cWestern Asset High Yield Opportunity Fund Inc.\u201d The Fund\u2019s ticker symbol will remain \u201cHYI\u201d. The Fund\u2019s CUSIP, 95768B107, will not change.<\/p>\n<\/li>\n<li>\nIf less than $75 million of net assets remain in the Fund following the Tender Offer, the Tender Offer will be cancelled and the Fund will proceed to liquidate on or about September 30, 2025 without further action by stockholders; and<\/p>\n<\/li>\n<li>\nThe Fund\u2019s investment manager has agreed to waive 20 basis points of its annual management fee (the \u201cFee Waiver\u201d) for a period of one year following the proposal\u2019s approval. The Fee Waiver will terminate on June 6, 2026.<\/p>\n<\/li>\n<\/ul>\n<p>\nThe Fund has not commenced the Tender Offer described in this release. This announcement is not a recommendation, an offer to purchase or a solicitation of an offer to sell Shares of the Fund and the above statements are not intended to constitute an offer to participate in any tender offer. Information about the Tender Offer will be provided by future public announcements. Stockholders will be notified in accordance with the requirements of the Securities Exchange Act of 1934, as amended, and the Investment Company Act of 1940, as amended, either by publication or mailing or both. The Tender Offer will be made only by an offer to purchase, a related letter of transmittal, and other documents to be filed with the U.S. Securities and Exchange Commission (\u201cSEC\u201d). <b>STOCKHOLDERS OF THE FUND SHOULD READ THE OFFER TO PURCHASE AND TENDER OFFER STATEMENT AND RELATED EXHIBITS WHEN THOSE DOCUMENTS ARE FILED AND BECOME AVAILABLE, AS THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE OFFER.<\/b> These and other filed documents will be available to investors for free both at the website of the SEC and from the Fund. There can be no assurance that any Share repurchase will reduce or eliminate the discount of market price per Share to net asset value per Share for the Fund.<\/p>\n<p>\nWestern Asset High Yield Defined Opportunity Fund Inc. is a non-diversified, limited-term, closed-end management investment company managed by Franklin Templeton Fund Adviser, LLC (\u201cFTFA\u201d) and is sub-advised by Western Asset Management Company, LLC (\u201cWestern Asset\u201d), Western Asset Management Company Pte. Ltd. (\u201cWestern Asset Singapore\u201d), Western Asset Management Company Ltd (\u201cWestern Asset Japan\u201d) and Western Asset Management Company Limited (\u201cWestern Asset London\u201d) are the Fund\u2019s subadvisers. FTFA, Western Asset, Western Asset Singapore, Western Asset Japan and Western Asset London are indirect, wholly-owned subsidiaries of Franklin Resources, Inc.<\/p>\n<p>\nFor more information, please call Investor Relations on 1-888-777-0102, or consult the funds\u2019 web sites <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.franklintempleton.com%2Finvestments%2Foptions%2Fclosed-end-funds&amp;esheet=54270922&amp;newsitemid=20250609367183&amp;lan=en-US&amp;anchor=www.franklintempleton.com%2Finvestments%2Foptions%2Fclosed-end-funds&amp;index=1&amp;md5=d78cf2963441187e9af7d8e3350b24f7\">www.franklintempleton.com\/investments\/options\/closed-end-funds<\/a>. Hard copies of each fund\u2019s complete audited financial statements are available free of charge upon request.<\/p>\n<p>\nThe Fund\u2019s Shares are traded on the New York Stock Exchange. Similar to stocks, Fund share prices will fluctuate with market conditions and, at the time of sale, may be worth more or less than the original investment. Shares of closed-end funds often trade at a discount to their net asset value, and can increase an investor\u2019s risk of loss. All investments are subject to risk, including the risk of loss.<\/p>\n<p>\nTHIS PRESS RELEASE IS NOT AN OFFER TO PURCHASE NOR A SOLICITATION OF AN OFFER TO SELL SHARES OF THE FUNDS. 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 \u201cMAY,\u201d \u201cWILL,\u201d \u201cEXPECT,\u201d \u201cANTICIPATE,\u201d \u201cESTIMATE,\u201d \u201cBELIEVE,\u201d \u201cCONTINUE\u201d OR OTHER SIMILAR WORDS. SUCH FORWARD-LOOKING STATEMENTS ARE BASED ON EACH FUND\u2019S 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.<\/p>\n<p>\nADDITIONAL INFORMATION CONCERNING SUCH RISKS AND UNCERTAINTIES IS CONTAINED IN EACH FUND\u2019S FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION.<\/p>\n<p><b>About Western Asset<\/b><\/p>\n<p>\nWestern Asset is one of the world\u2019s leading fixed-income managers with 50 years of experience and $252.2 billion in assets under management (AUM) as of March 31, 2025. With a focus on long-term fundamental value investing that employs a top-down and bottom-up approach, the firm has nine offices around the globe and deep experience across the range of fixed income sectors. Founded in 1971, Western Asset has been recognized for delivering superior levels of client service alongside its approach emphasizing team management and intensive proprietary research, supported by robust risk management. To learn more about Western Asset, please visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.westernasset.com&amp;esheet=54270922&amp;newsitemid=20250609367183&amp;lan=en-US&amp;anchor=www.westernasset.com&amp;index=2&amp;md5=26ff7d98d0c513c1323ded2cfb32ecf8\">www.westernasset.com<\/a>.<\/p>\n<p><i>Western Asset is an independent specialist investment manager of Franklin Templeton.<\/i><\/p>\n<p><b>About Franklin Templeton<\/b><\/p>\n<p>\nFranklin Resources, Inc. is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. Franklin Templeton\u2019s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With more than 1,500 investment professionals, and offices in major financial markets around the world, the California-based company has over 75 years of investment experience and $1.53 trillion in assets under management as of March 31, 2025. For more information, please visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.franklintempleton.com%2F&amp;esheet=54270922&amp;newsitemid=20250609367183&amp;lan=en-US&amp;anchor=franklintempleton.com&amp;index=3&amp;md5=1be5936a3f438c0e0dcf14a9a6464462\">franklintempleton.com<\/a> and follow us on <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Ffranklin-templeton%2F&amp;esheet=54270922&amp;newsitemid=20250609367183&amp;lan=en-US&amp;anchor=LinkedIn&amp;index=4&amp;md5=eabde553f19ad78d27f75d8a2983b420\">LinkedIn<\/a>, <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Ftwitter.com%2FFTI_US&amp;esheet=54270922&amp;newsitemid=20250609367183&amp;lan=en-US&amp;anchor=Twitter&amp;index=5&amp;md5=2881e22cd2bca854884b54966a975a85\">Twitter<\/a> and <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.facebook.com%2Ffranklintempleton%2F&amp;esheet=54270922&amp;newsitemid=20250609367183&amp;lan=en-US&amp;anchor=Facebook&amp;index=6&amp;md5=97e65614db1da65e479269efb52dcc19\">Facebook<\/a>.<\/p>\n<p>\nCategory: Fund Announcement<\/p>\n<p>\nInvestor Contact: Fund Investor Services-1-888-777-0102<\/p>\n<p>\nSource: Franklin Resources, Inc.<\/p>\n<p>\nSource: Legg Mason Closed End Funds<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250609367183r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20250609367183\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20250609367183\/en\/<\/a><\/span><\/p>\n<p>\nMedia Contact: Jeaneen Terrio<br \/>\n<br \/>+1-212-632-4005<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:Jeaneen.Terrio@franklintempleton.com\">Jeaneen.Terrio@franklintempleton.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America New York<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Banking Asset Management Professional Services Finance<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\" \/>\n","protected":false},"excerpt":{"rendered":"<p>Western Asset High Yield Defined Opportunity Fund Inc. Announces Results of Special Meeting of Stockholders and Other Fund Developments NEW YORK&#8211;(BUSINESS WIRE)&#8211; Western Asset High Yield Defined Opportunity Fund Inc. (the \u201cFund\u201d), which is traded on the New York Stock Exchange under the symbol \u201cHYI,\u201d announced today the results of the votes cast at the Fund\u2019s re-convened Special Meeting of Stockholders held on June 6, 2025. The Special Meeting of Stockholders was originally held on May 22, 2025, but was adjourned to permit further solicitation of proxies. Stockholders approved the proposal to convert the Fund to a perpetual fund by eliminating the Fund\u2019s term, which was scheduled to end at the close of business on September 30, 2025, and eliminating &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/western-asset-high-yield-defined-opportunity-fund-inc-announces-results-of-special-meeting-of-stockholders-and-other-fund-developments\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Western Asset High Yield Defined Opportunity Fund Inc. Announces Results of Special Meeting of Stockholders and Other Fund Developments&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-858426","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Western Asset High Yield Defined Opportunity Fund Inc. Announces Results of Special Meeting of Stockholders and Other Fund Developments - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/western-asset-high-yield-defined-opportunity-fund-inc-announces-results-of-special-meeting-of-stockholders-and-other-fund-developments\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Western Asset High Yield Defined Opportunity Fund Inc. Announces Results of Special Meeting of Stockholders and Other Fund Developments - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Western Asset High Yield Defined Opportunity Fund Inc. Announces Results of Special Meeting of Stockholders and Other Fund Developments NEW YORK&#8211;(BUSINESS WIRE)&#8211; Western Asset High Yield Defined Opportunity Fund Inc. (the \u201cFund\u201d), which is traded on the New York Stock Exchange under the symbol \u201cHYI,\u201d announced today the results of the votes cast at the Fund\u2019s re-convened Special Meeting of Stockholders held on June 6, 2025. The Special Meeting of Stockholders was originally held on May 22, 2025, but was adjourned to permit further solicitation of proxies. Stockholders approved the proposal to convert the Fund to a perpetual fund by eliminating the Fund\u2019s term, which was scheduled to end at the close of business on September 30, 2025, and eliminating &hellip; Continue reading &quot;Western Asset High Yield Defined Opportunity Fund Inc. 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Announces Results of Special Meeting of Stockholders and Other Fund Developments - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/western-asset-high-yield-defined-opportunity-fund-inc-announces-results-of-special-meeting-of-stockholders-and-other-fund-developments\/","og_locale":"en_US","og_type":"article","og_title":"Western Asset High Yield Defined Opportunity Fund Inc. Announces Results of Special Meeting of Stockholders and Other Fund Developments - Market Newsdesk","og_description":"Western Asset High Yield Defined Opportunity Fund Inc. Announces Results of Special Meeting of Stockholders and Other Fund Developments NEW YORK&#8211;(BUSINESS WIRE)&#8211; Western Asset High Yield Defined Opportunity Fund Inc. (the \u201cFund\u201d), which is traded on the New York Stock Exchange under the symbol \u201cHYI,\u201d announced today the results of the votes cast at the Fund\u2019s re-convened Special Meeting of Stockholders held on June 6, 2025. The Special Meeting of Stockholders was originally held on May 22, 2025, but was adjourned to permit further solicitation of proxies. Stockholders approved the proposal to convert the Fund to a perpetual fund by eliminating the Fund\u2019s term, which was scheduled to end at the close of business on September 30, 2025, and eliminating &hellip; Continue reading \"Western Asset High Yield Defined Opportunity Fund Inc. Announces Results of Special Meeting of Stockholders and Other Fund Developments\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/western-asset-high-yield-defined-opportunity-fund-inc-announces-results-of-special-meeting-of-stockholders-and-other-fund-developments\/","og_site_name":"Market Newsdesk","article_published_time":"2025-06-09T12:05:14+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250609367183r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/western-asset-high-yield-defined-opportunity-fund-inc-announces-results-of-special-meeting-of-stockholders-and-other-fund-developments\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/western-asset-high-yield-defined-opportunity-fund-inc-announces-results-of-special-meeting-of-stockholders-and-other-fund-developments\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Western Asset High Yield Defined Opportunity Fund Inc. 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