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Article: Legg Mason Seeks Liquidity Solutions for Auction Rate Preferred Securities Issued by LMP and Western Asset Closed-End Funds.
- Article from:
- Business Wire
- Article date:
- March 28, 2008
CopyrightCOPYRIGHT 2008 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK -- Legg Mason, Inc. (NYSE:LM) today announced that the firm and its affiliates are continuing to actively explore potential solutions to restore liquidity to shareholders of auction rate preferred securities (ARPS) issued by seven "LMP" and "Western Asset" branded closed-end funds that are advised by its affiliates. Collectively, these Funds have issued approximately $672 million in ARPS.
The ARPS market has experienced an unprecedented lack of liquidity that has resulted in failed auctions across the closed-end fund industry. We believe that this continues to be a liquidity issue caused by broader economic conditions and continued severe dislocations in ...
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Article: Legg Mason Announces September Quarter Results.
PR Newswire;
October 21, 2004 ;
700+ words
... ... Management up $74 Billion, or 31%, to $311 Billion Legg Mason, Inc. today reported that the firm's revenues ... increase in revenues at Private Capital Management, Western Asset, Legg Mason Capital Management(1) and Royce, and to increased ...
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