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Western Asset Municipal Defined Opportunity Trust
Ticker Symbol: MTT* CUSIP: 95768A109 Exchange: NYSE
* NOTE: This security is no longer trading as of 4/30/2021
Company's Online Profile
FUND DESCRIPTION: Western Asset Municipal Defined Opportunity Trust is an exchange-traded closed-end fund or a closed-end ETF that is officially described as a non-diversified, closed-end management investment company. INVESTMENT OBJECTIVE: The Fund's primary investment objective is to provide high current income exempt from federal income tax and then to liquidate on or about April 30, 2021 and distribute all of the Fund's net assets to shareholders. As a secondary investment objective, the Fund will seek total return. FUND STRATEGY: As a fundamental policy, the Fund seeks to achieve its primary investment objective by investing, under normal market conditions, at least 80% of its net assets in investment grade municipal securities, the interest on which is exempt from federal income tax. "Municipal securities" are obligations issued by or on behalf of states, territories and possessions of the United States and the District of Columbia and their political subdivisions, agencies and instrumentalities. "Investment grade" quality securities are those that, at the time of investment, are either rated by one of the nationally recognized statistical rating organizations within the four highest letter grades, or if unrated are determined by the Subadviser to be of comparable quality. Investment grade securities may include securities that, at the time of investment, are rated below investment grade by S&P, Fitch or Moody's so long as at least one rating company rates such securities within the four highest grades. FUND MANAGEMENT: Legg Mason Partners Fund Advisor, LLC, a wholly owned subsidiary of Legg Mason, Inc. (NYSE: LM), is the Fund's investment manager, and provides administrative and management services to the Fund. Western Asset Management Company, an affiliate of the adviser, is the Fund's subadviser and is responsible for the day-to-day portfolio management of the Fund.
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Notes: April 16, 2021 -- Western Asset Municipal Defined Opportunity Trust Inc. (the “Fund”), a term fund, announced today that the scheduled termination of the Fund is expected to occur on or about April 30, 2021 (the “Termination Date”). Pursuant to the terms of the Fund’s prospectus, dated March 26, 2009, the Fund’s twelve year expected term was scheduled to expire on or about April 30, 2021. Proceeds from the termination of the Fund will be paid to stockholders promptly after the Termination Date (the “Liquidating Payment”). The proportionate interests of stockholders in the assets of the Fund will be fixed on the basis of their respective holdings at the close of business on the Termination Date. Prior to the opening of business on May 3, 2021, the Fund will cease trading on the New York Stock Exchange.
The Liquidating Payment will be made in lieu of the Fund’s April distribution payment.
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IPO - 3/27/2009 - 10.90 Million Shares @ $20.00/share.
Link to IPO Prospectus
Small Cap Stock -
Market Value $218.0 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 55 Water Street, New York, NY 10041 |
| Main Phone Number |
888-777-0102 |
| Fax Number |
Not Available |
| Investor Contact
Brenda Grandell
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212-857-8087
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| Toll Free Phone Number |
888-777-0102 |
| CEO - R. Jay Gerken |
CFO - Kaprel Ozsolak |
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