HIX - Western Asset High Income Fund II authorizes rights offering

Western Asset High Income Fund II (HIX +0.2%) board approved a transferable rights offering. The offer may help to increase the fund's assets which will provide additional capital for use, positive impact on the Fund's expense ratio, as fixed costs will be distributed over a larger asset base. Each stockholder will receive one transferable right for each share held on Apr.8, 2022. Three rights plus the final subscription price per share of common stock will be required to purchase one share. The rights are expected to trade when issued on the NYSE beginning on Apr. 6, 2022, and the Fund’s shares of common stock are expected to trade “Ex-Rights” on NYSE starting Apr. 7, 2022. The rights are expected to commence trading for normal settlement on the NYSE on or about Apr.8, 2022. The Fund has declared a monthly distribution payable on May 2, 2022 with a record date of Apr.

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Western Asset High Income Fund II authorizes rights offering