WESTERN ASSET GLOBAL HIGH INCOME FUND INC.
| Schedule of investments (unaudited) | August 31, 2020 |
| SECURITY‡ |
RATE | MATURITY DATE |
FACE AMOUNT† |
VALUE | ||||||||||||
| CORPORATE BONDS & NOTES - 97.4% | ||||||||||||||||
| COMMUNICATION SERVICES - 14.0% | ||||||||||||||||
| Diversified Telecommunication Services - 3.5% |
||||||||||||||||
| Altice France Holding SA, Senior Secured Notes |
10.500 | % | 5/15/27 | 1,690,000 | $ | 1,940,331 | (a) | |||||||||
| Altice France SA, Senior Secured Notes |
7.375 | % | 5/1/26 | 7,650,000 | 8,129,655 | (a) | ||||||||||
| Altice France SA, Senior Secured Notes |
8.125 | % | 2/1/27 | 2,000,000 | 2,232,290 | (a) | ||||||||||
| British Telecommunications PLC, Senior Notes |
9.625 | % | 12/15/30 | 60,000 | 97,867 | |||||||||||
| Cogent Communications Group Inc., Senior Secured Notes |
5.375 | % | 3/1/22 | 820,000 | 847,482 | (a) | ||||||||||
| Intelsat Jackson Holdings SA, Senior Secured Notes |
8.000 | % | 2/15/24 | 740,000 | 756,029 | (a) | ||||||||||
| Telecom Italia Capital SA, Senior Notes |
6.000 | % | 9/30/34 | 780,000 | 949,966 | |||||||||||
| Telecom Italia SpA, Senior Notes |
5.303 | % | 5/30/24 | 450,000 | 497,468 | (a) | ||||||||||
| Turk Telekomunikasyon AS, Senior Notes |
6.875 | % | 2/28/25 | 500,000 | 521,791 | (a) | ||||||||||
| Windstream Services LLC/ Windstream Finance Corp., Secured Notes |
10.500 | % | 6/30/24 | 3,160,000 | 63,200 | *(a)(b) | ||||||||||
| Windstream Services LLC/ Windstream Finance Corp., Secured Notes |
9.000 | % | 6/30/25 | 890,000 | 53,400 | *(a)(b) | ||||||||||
|
|
|
|||||||||||||||
| Total Diversified Telecommunication Services |
16,089,479 | |||||||||||||||
|
|
|
|||||||||||||||
| Entertainment - 0.6% |
||||||||||||||||
| Netflix Inc., Senior Notes |
5.875 | % | 11/15/28 | 1,040,000 | 1,275,856 | |||||||||||
| Netflix Inc., Senior Notes |
6.375 | % | 5/15/29 | 1,250,000 | 1,579,688 | |||||||||||
|
|
|
|||||||||||||||
| Total Entertainment |
2,855,544 | |||||||||||||||
|
|
|
|||||||||||||||
| Interactive Media & Services - 0.0%†† |
||||||||||||||||
| Match Group Holdings II LLC, Senior Notes |
5.000 | % | 12/15/27 | 70,000 | 74,887 | (a) | ||||||||||
|
|
|
|||||||||||||||
| Media - 6.4% |
||||||||||||||||
| Cable Onda SA, Senior Notes |
4.500 | % | 1/30/30 | 1,480,000 | 1,591,466 | (a) | ||||||||||
| CCO Holdings LLC/CCO Holdings Capital Corp., Senior Notes |
5.125 | % | 5/1/27 | 3,140,000 | 3,348,355 | (a) | ||||||||||
| CCO Holdings LLC/CCO Holdings Capital Corp., Senior Notes |
5.000 | % | 2/1/28 | 5,300,000 | 5,610,050 | (a) | ||||||||||
| CCO Holdings LLC/CCO Holdings Capital Corp., Senior Notes |
4.500 | % | 5/1/32 | 520,000 | 551,793 | (a) | ||||||||||
See Notes to Schedule of Investments.
| Western Asset Global High Income Fund Inc. 2020 Quarterly Report |
1 |
WESTERN ASSET GLOBAL HIGH INCOME FUND INC.
| Schedule of investments (unaudited) (cont’d) | August 31, 2020 |
| SECURITY‡ |
RATE | MATURITY DATE |
FACE AMOUNT† |
VALUE | ||||||||||||
| Media - (continued) |
||||||||||||||||
| DISH DBS Corp., Senior Notes |
5.875 | % | 11/15/24 | 2,996,000 | $ | 3,171,079 | ||||||||||
| DISH DBS Corp., Senior Notes |
7.750 | % | 7/1/26 | 9,167,000 | 10,507,811 | |||||||||||
| Univision Communications Inc., Senior Secured Notes |
9.500 | % | 5/1/25 | 1,710,000 | 1,881,000 | (a) | ||||||||||
| UPC Holding BV, Senior Secured Notes |
5.500 | % | 1/15/28 | 995,000 | 1,040,924 | (a) | ||||||||||
| Virgin Media Secured Finance PLC, Senior Secured Notes |
5.500 | % | 8/15/26 | 1,350,000 | 1,425,937 | (a) | ||||||||||
|
|
|
|||||||||||||||
| Total Media |
29,128,415 | |||||||||||||||
|
|
|
|||||||||||||||
| Wireless Telecommunication Services - 3.5% |
|
|||||||||||||||
| CSC Holdings LLC, Senior Notes |
5.375 | % | 2/1/28 | 500,000 | 534,690 | (a) | ||||||||||
| CSC Holdings LLC, Senior Notes |
6.500 | % | 2/1/29 | 1,460,000 | 1,645,238 | (a) | ||||||||||
| Sprint Capital Corp., Senior Notes |
6.875 | % | 11/15/28 | 560,000 | 716,450 | |||||||||||
| Sprint Capital Corp., Senior Notes |
8.750 | % | 3/15/32 | 1,160,000 | 1,753,267 | |||||||||||
| Sprint Communications Inc., Senior Notes |
11.500 | % | 11/15/21 | 3,455,000 | 3,848,006 | |||||||||||
| Sprint Corp., Senior Notes |
7.250 | % | 9/15/21 | 1,440,000 | 1,521,144 | |||||||||||
| Sprint Corp., Senior Notes |
7.875 | % | 9/15/23 | 2,960,000 | 3,446,550 | |||||||||||
| VEON Holdings BV, Senior Notes |
7.504 | % | 3/1/22 | 1,050,000 | 1,136,452 | (c) | ||||||||||
| VEON Holdings BV, Senior Notes |
7.504 | % | 3/1/22 | 450,000 | 487,051 | (a) | ||||||||||
| Vimpel Communications Via VIP Finance Ireland Ltd. OJSC, Senior Notes |
7.748 | % | 2/2/21 | 820,000 | 844,003 | (a) | ||||||||||
|
|
|
|||||||||||||||
| Total Wireless Telecommunication Services |
|
15,932,851 | ||||||||||||||
|
|
|
|||||||||||||||
| TOTAL COMMUNICATION SERVICES |
64,081,176 | |||||||||||||||
|
|
|
|||||||||||||||
| CONSUMER DISCRETIONARY - 14.0% | ||||||||||||||||
| Auto Components - 2.2% |
||||||||||||||||
| Adient Global Holdings Ltd., Senior Notes |
4.875 | % | 8/15/26 | 3,830,000 | 3,597,806 | (a) | ||||||||||
| Adient US LLC, Senior Secured Notes |
9.000 | % | 4/15/25 | 1,020,000 | 1,134,113 | (a) | ||||||||||
| American Axle & Manufacturing Inc., Senior Notes |
6.500 | % | 4/1/27 | 2,190,000 | 2,254,331 | |||||||||||
| JB Poindexter & Co. Inc., Senior Notes |
7.125 | % | 4/15/26 | 2,770,000 | 2,954,039 | (a) | ||||||||||
|
|
|
|||||||||||||||
| Total Auto Components |
9,940,289 | |||||||||||||||
|
|
|
|||||||||||||||
| Automobiles - 1.2% |
||||||||||||||||
| Ford Motor Co., Senior Notes |
8.500 | % | 4/21/23 | 1,190,000 | 1,317,330 | |||||||||||
| Ford Motor Co., Senior Notes |
9.000 | % | 4/22/25 | 1,780,000 | 2,085,359 | |||||||||||
See Notes to Schedule of Investments.
|
2 |
Western Asset Global High Income Fund Inc. 2020 Quarterly Report |
WESTERN ASSET GLOBAL HIGH INCOME FUND INC.
| Schedule of investments (unaudited) (cont’d) | August 31, 2020 |
| SECURITY‡ |
RATE | MATURITY DATE |
FACE AMOUNT† |
VALUE | ||||||||||||
| Automobiles - (continued) |
||||||||||||||||
| Ford Motor Credit Co. LLC, Senior Notes |
3.200 | % | 1/15/21 | 460,000 | $ | 461,150 | ||||||||||
| Ford Motor Credit Co. LLC, Senior Notes |
4.250 | % | 9/20/22 | 200,000 | 203,478 | |||||||||||
| Ford Motor Credit Co. LLC, Senior Notes |
4.125 | % | 8/17/27 | 1,100,000 | 1,099,104 | |||||||||||
| General Motors Co., Senior Notes |
6.125 | % | 10/1/25 | 350,000 | 411,250 | |||||||||||
|
|
|
|||||||||||||||
| Total Automobiles |
5,577,671 | |||||||||||||||
|
|
|
|||||||||||||||
| Diversified Consumer Services - 1.8% |
||||||||||||||||
| Carriage Services Inc., Senior Notes |
6.625 | % | 6/1/26 | 2,140,000 | 2,270,669 | (a) | ||||||||||
| Prime Security Services Borrower LLC/Prime Finance Inc., Secured Notes |
6.250 | % | 1/15/28 | 1,530,000 | 1,608,657 | (a) | ||||||||||
| Prime Security Services Borrower LLC/Prime Finance Inc., Senior Secured Notes |
5.750 | % | 4/15/26 | 2,450,000 | 2,712,141 | (a) | ||||||||||
| Service Corp. International, Senior Notes |
7.500 | % | 4/1/27 | 770,000 | 911,341 | |||||||||||
| Weight Watchers International Inc., Senior Notes |
8.625 | % | 12/1/25 | 510,000 | 538,369 | (a) | ||||||||||
|
|
|
|||||||||||||||
| Total Diversified Consumer Services |
8,041,177 | |||||||||||||||
|
|
|
|||||||||||||||
| Hotels, Restaurants & Leisure - 5.3% |
||||||||||||||||
| 1011778 BC ULC/New Red Finance Inc., Senior Secured Notes |
4.250 | % | 5/15/24 | 1,630,000 | 1,662,192 | (a) | ||||||||||
| 1011778 BC ULC/New Red Finance Inc., Senior Secured Notes |
5.750 | % | 4/15/25 | 680,000 | 726,968 | (a) | ||||||||||
| Colt Merger Sub Inc., Senior Secured Notes |
5.750 | % | 7/1/25 | 980,000 | 1,027,775 | (a) | ||||||||||
| Hilton Domestic Operating Co. Inc., Senior Notes |
5.750 | % | 5/1/28 | 880,000 | 930,600 | (a) | ||||||||||
| IRB Holding Corp., Senior Secured Notes |
7.000 | % | 6/15/25 | 1,160,000 | 1,240,359 | (a) | ||||||||||
| Melco Resorts Finance Ltd., Senior Notes |
5.375 | % | 12/4/29 | 880,000 | 906,400 | (a) | ||||||||||
| NCL Corp. Ltd., Senior Secured Notes |
12.250 | % | 5/15/24 | 2,480,000 | 2,766,750 | (a) | ||||||||||
| NCL Corp. Ltd., Senior Secured Notes |
10.250 | % | 2/1/26 | 2,280,000 | 2,299,950 | (a) | ||||||||||
| Saga PLC, Senior Notes |
3.375 | % | 5/12/24 | 1,400,000 | GBP | 1,524,030 | (c) | |||||||||
| Silversea Cruise Finance Ltd., Senior Secured Notes |
7.250 | % | 2/1/25 | 1,335,000 | 1,344,345 | (a) | ||||||||||
See Notes to Schedule of Investments.
| Western Asset Global High Income Fund Inc. 2020 Quarterly Report |
3 |
WESTERN ASSET GLOBAL HIGH INCOME FUND INC.
| Schedule of investments (unaudited) (cont’d) | August 31, 2020 |
| SECURITY‡ |
RATE | MATURITY DATE |
FACE AMOUNT† |
VALUE | ||||||||||||
| Hotels, Restaurants & Leisure - (continued) |
||||||||||||||||
| Viking Cruises Ltd., Senior Notes |
5.875 | % | 9/15/27 | 2,100,000 | $ | 1,494,937 | (a) | |||||||||
| VOC Escrow Ltd., Senior Secured Notes |
5.000 | % | 2/15/28 | 1,680,000 | 1,398,289 | (a) | ||||||||||
| Wyndham Hotels & Resorts Inc., Senior Notes |
4.375 | % | 8/15/28 | 1,050,000 | 1,060,054 | (a) | ||||||||||
| Wynn Macau Ltd., Senior Notes |
5.625 | % | 8/26/28 | 1,770,000 | 1,783,363 | (a) | ||||||||||
| Wynn Macau Ltd., Senior Notes |
5.125 | % | 12/15/29 | 720,000 | 708,678 | (a) | ||||||||||
| Wynn Resorts Finance LLC/Wynn Resorts Capital Corp., Senior Notes |
7.750 | % | 4/15/25 | 2,710,000 | 2,848,793 | (a) | ||||||||||
| Yum! Brands Inc., Senior Notes |
7.750 | % | 4/1/25 | 620,000 | 692,850 | (a) | ||||||||||
|
|
|
|||||||||||||||
| Total Hotels, Restaurants & Leisure |
24,416,333 | |||||||||||||||
|
|
|
|||||||||||||||
| Household Durables - 0.3% |
||||||||||||||||
| Newell Brands Inc., Senior Notes |
4.875 | % | 6/1/25 | 1,140,000 | 1,236,638 | |||||||||||
|
|
|
|||||||||||||||
| Specialty Retail - 2.7% |
||||||||||||||||
| L Brands Inc., Senior Secured Notes |
6.875 | % | 7/1/25 | 920,000 | 996,811 | (a) | ||||||||||
| Maxeda DIY Holding BV, Senior Secured Notes |
6.125 | % | 7/15/22 | 1,917,000 | EUR | 2,209,163 | (c) | |||||||||
| Michaels Stores Inc., Senior Notes |
8.000 | % | 7/15/27 | 1,270,000 | 1,284,846 | (a) | ||||||||||
| Party City Holdings Inc., Senior Secured Notes (6 mo. USD LIBOR + 5.000%) |
5.750 | % | 7/15/25 | 524,536 | 334,392 | (a)(d) | ||||||||||
| PetSmart Inc., Senior Secured Notes |
5.875 | % | 6/1/25 | 4,520,000 | 4,661,250 | (a) | ||||||||||
| Sally Holdings LLC/Sally Capital Inc., Senior Notes |
5.500 | % | 11/1/23 | 1,240,000 | 1,255,965 | |||||||||||
| Sally Holdings LLC/Sally Capital Inc., Senior Notes |
5.625 | % | 12/1/25 | 1,820,000 | 1,850,530 | |||||||||||
|
|
|
|||||||||||||||
| Total Specialty Retail |
12,592,957 | |||||||||||||||
|
|
|
|||||||||||||||
| Textiles, Apparel & Luxury Goods - 0.5% |
||||||||||||||||
| CBR Fashion Finance BV, Senior Secured Notes |
5.125 | % | 10/1/22 | 750,000 | EUR | 843,216 | (c) | |||||||||
| Hanesbrands Inc., Senior Notes |
4.875 | % | 5/15/26 | 1,350,000 | 1,472,317 | (a) | ||||||||||
|
|
|
|||||||||||||||
| Total Textiles, Apparel & Luxury Goods |
2,315,533 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL CONSUMER DISCRETIONARY |
64,120,598 | |||||||||||||||
|
|
|
|||||||||||||||
| CONSUMER STAPLES - 2.5% | ||||||||||||||||
| Food Products - 1.7% |
||||||||||||||||
| Kraft Heinz Foods Co., Senior Notes |
3.875 | % | 5/15/27 | 2,090,000 | 2,239,733 | (a) | ||||||||||
| Kraft Heinz Foods Co., Senior Notes |
4.250 | % | 3/1/31 | 310,000 | 343,561 | (a) | ||||||||||
| Kraft Heinz Foods Co., Senior Notes |
4.375 | % | 6/1/46 | 740,000 | 760,278 | |||||||||||
| Kraft Heinz Foods Co., Senior Notes |
5.500 | % | 6/1/50 | 920,000 | 1,092,350 | (a) | ||||||||||
See Notes to Schedule of Investments.
|
4 |
Western Asset Global High Income Fund Inc. 2020 Quarterly Report |
WESTERN ASSET GLOBAL HIGH INCOME FUND INC.
| Schedule of investments (unaudited) (cont’d) | August 31, 2020 |
| SECURITY‡ |
RATE | MATURITY DATE |
FACE AMOUNT† |
VALUE | ||||||||||||
| Food Products - (continued) |
||||||||||||||||
| Pilgrim’s Pride Corp., Senior Notes |
5.750 | % | 3/15/25 | 305,000 | $ | 313,769 | (a) | |||||||||
| Pilgrim’s Pride Corp., Senior Notes |
5.875 | % | 9/30/27 | 2,970,000 | 3,159,337 | (a) | ||||||||||
|
|
|
|||||||||||||||
| Total Food Products |
7,909,028 | |||||||||||||||
|
|
|
|||||||||||||||
| Household Products - 0.5% |
||||||||||||||||
| Central Garden & Pet Co., Senior Notes |
6.125 | % | 11/15/23 | 280,000 | 286,971 | |||||||||||
| Energizer Holdings Inc., Senior Notes |
6.375 | % | 7/15/26 | 530,000 | 563,130 | (a) | ||||||||||
| Spectrum Brands Inc., Senior Notes |
6.125 | % | 12/15/24 | 380,000 | 392,785 | |||||||||||
| Spectrum Brands Inc., Senior Notes |
5.750 | % | 7/15/25 | 840,000 | 869,400 | |||||||||||
|
|
|
|||||||||||||||
| Total Household Products |
2,112,286 | |||||||||||||||
|
|
|
|||||||||||||||
| Tobacco - 0.3% |
||||||||||||||||
| Altria Group Inc., Senior Notes |
5.950 | % | 2/14/49 | 1,110,000 | 1,511,342 | |||||||||||
|
|
|
|||||||||||||||
| TOTAL CONSUMER STAPLES |
11,532,656 | |||||||||||||||
|
|
|
|||||||||||||||
| ENERGY - 21.5% | ||||||||||||||||
| Oil, Gas & Consumable Fuels - 21.5% |
||||||||||||||||
| Andeavor Logistics LP/Tesoro Logistics Finance Corp., Senior Notes |
5.250 | % | 1/15/25 | 1,400,000 | 1,313,984 | |||||||||||
| Apache Corp., Senior Notes |
5.100 | % | 9/1/40 | 1,400,000 | 1,360,667 | |||||||||||
| Berry Petroleum Co. LLC, Senior Notes |
7.000 | % | 2/15/26 | 365,000 | 300,599 | (a) | ||||||||||
| Blue Racer Midstream LLC/Blue Racer Finance Corp., Senior Notes |
6.125 | % | 11/15/22 | 1,480,000 | 1,475,893 | (a) | ||||||||||
| Continental Resources Inc., Senior Notes |
3.800 | % | 6/1/24 | 1,040,000 | 1,027,073 | |||||||||||
| Continental Resources Inc., Senior Notes |
4.375 | % | 1/15/28 | 790,000 | 753,889 | |||||||||||
| Continental Resources Inc., Senior Notes |
4.900 | % | 6/1/44 | 300,000 | 266,351 | |||||||||||
| Diamondback Energy Inc., Senior Notes |
3.500 | % | 12/1/29 | 730,000 | 744,711 | |||||||||||
| Ecopetrol SA, Senior Notes |
5.875 | % | 9/18/23 | 262,000 | 291,475 | |||||||||||
| Ecopetrol SA, Senior Notes |
5.875 | % | 5/28/45 | 1,820,000 | 2,068,749 | |||||||||||
| El Paso Natural Gas Co. LLC, Senior Notes |
8.375 | % | 6/15/32 | 70,000 | 96,726 | |||||||||||
| Endeavor Energy Resources LP/EER Finance Inc., Senior Notes |
6.625 | % | 7/15/25 | 490,000 | 511,104 | (a) | ||||||||||
| EQM Midstream Partners LP, Senior Notes |
6.000 | % | 7/1/25 | 680,000 | 722,500 | (a) | ||||||||||
See Notes to Schedule of Investments.
| Western Asset Global High Income Fund Inc. 2020 Quarterly Report |
5 |
WESTERN ASSET GLOBAL HIGH INCOME FUND INC.
| Schedule of investments (unaudited) (cont’d) | August 31, 2020 |
| SECURITY‡ |
RATE | MATURITY DATE |
FACE AMOUNT† |
VALUE | ||||||||||||
| Oil, Gas & Consumable Fuels - (continued) |
||||||||||||||||
| EQM Midstream Partners LP, Senior Notes |
6.500 | % | 7/1/27 | 610,000 | $ | 668,813 | (a) | |||||||||
| EQT Corp., Senior Notes |
3.900 | % | 10/1/27 | 1,380,000 | 1,338,158 | |||||||||||
| EQT Corp., Senior Notes |
8.750 | % | 2/1/30 | 880,000 | 1,054,900 | |||||||||||
| Gazprom PJSC Via Gaz Capital SA, Senior Notes |
6.510 | % | 3/7/22 | 1,920,000 | 2,062,719 | (a) | ||||||||||
| KazMunayGas National Co. JSC, Senior Notes |
4.750 | % | 4/19/27 | 2,000,000 | 2,262,412 | (a) | ||||||||||
| Kinder Morgan Inc., Senior Notes |
7.750 | % | 1/15/32 | 1,390,000 | 1,997,695 | |||||||||||
| Lukoil International Finance BV, Senior Notes |
6.656 | % | 6/7/22 | 496,000 | 540,030 | (c) | ||||||||||
| Lukoil International Finance BV, Senior Notes |
4.750 | % | 11/2/26 | 3,040,000 | 3,412,251 | (a) | ||||||||||
| MEG Energy Corp., Secured Notes |
6.500 | % | 1/15/25 | 200,000 | 204,156 | (a) | ||||||||||
| MEG Energy Corp., Senior Notes |
7.000 | % | 3/31/24 | 1,836,000 | 1,827,013 | (a) | ||||||||||
| Montage Resources Corp., Senior Notes |
8.875 | % | 7/15/23 | 2,830,000 | 2,902,490 | |||||||||||
| NGPL PipeCo LLC, Senior Notes |
7.768 | % | 12/15/37 | 1,430,000 | 1,746,304 | (a) | ||||||||||
| Oasis Petroleum Inc., Senior Notes |
6.500 | % | 11/1/21 | 1,930,000 | 376,350 | |||||||||||
| Oasis Petroleum Inc., Senior Notes |
6.875 | % | 3/15/22 | 70,000 | 13,825 | |||||||||||
| Oasis Petroleum Inc., Senior Notes |
6.875 | % | 1/15/23 | 3,610,000 | 703,950 | |||||||||||
| Occidental Petroleum Corp., Senior Notes |
6.950 | % | 7/1/24 | 1,190,000 | 1,234,625 | |||||||||||
| Occidental Petroleum Corp., Senior Notes |
2.900 | % | 8/15/24 | 710,000 | 654,528 | |||||||||||
| Occidental Petroleum Corp., Senior Notes |
5.550 | % | 3/15/26 | 450,000 | 443,889 | |||||||||||
| Occidental Petroleum Corp., Senior Notes |
6.200 | % | 3/15/40 | 310,000 | 295,275 | |||||||||||
| Pertamina Persero PT, Senior Notes |
5.250 | % | 5/23/21 | 1,610,000 | 1,662,969 | (a) | ||||||||||
| Petrobras Global Finance BV, Senior Notes |
4.375 | % | 5/20/23 | 1,632,000 | 1,710,744 | |||||||||||
| Petrobras Global Finance BV, Senior Notes |
5.999 | % | 1/27/28 | 2,760,000 | 3,065,670 | |||||||||||
| Petrobras Global Finance BV, Senior Notes |
5.750 | % | 2/1/29 | 5,760,000 | 6,338,880 | |||||||||||
| Petrobras Global Finance BV, Senior Notes |
6.875 | % | 1/20/40 | 2,190,000 | 2,485,223 | |||||||||||
| Petrobras Global Finance BV, Senior Notes |
6.750 | % | 1/27/41 | 3,910,000 | 4,391,145 | |||||||||||
See Notes to Schedule of Investments.
|
6 |
Western Asset Global High Income Fund Inc. 2020 Quarterly Report |
WESTERN ASSET GLOBAL HIGH INCOME FUND INC.
| Schedule of investments (unaudited) (cont’d) | August 31, 2020 |
| SECURITY‡ |
RATE | MATURITY DATE |
FACE AMOUNT† |
VALUE | ||||||||||||
| Oil, Gas & Consumable Fuels - (continued) |
||||||||||||||||
| Petroleos Mexicanos, Senior Notes |
6.875 | % | 8/4/26 | 1,000,000 | $ | 1,022,345 | ||||||||||
| Petroleos Mexicanos, Senior Notes |
6.375 | % | 1/23/45 | 4,882,000 | 4,018,496 | |||||||||||
| Range Resources Corp., Senior Notes |
5.000 | % | 3/15/23 | 1,100,000 | 1,097,916 | |||||||||||
| Range Resources Corp., Senior Notes |
4.875 | % | 5/15/25 | 770,000 | 720,354 | |||||||||||
| Range Resources Corp., Senior Notes |
9.250 | % | 2/1/26 | 6,250,000 | 6,592,000 | (a) | ||||||||||
| Rockies Express Pipeline LLC, Senior Notes |
7.500 | % | 7/15/38 | 1,020,000 | 1,086,300 | (a) | ||||||||||
| Rockies Express Pipeline LLC, Senior Notes |
6.875 | % | 4/15/40 | 1,070,000 | 1,107,450 | (a) | ||||||||||
| Sabine Pass Liquefaction LLC, Senior Secured Notes |
5.000 | % | 3/15/27 | 290,000 | 330,115 | |||||||||||
| Targa Resources Partners LP/Targa Resources Partners Finance Corp., Senior Notes |
6.750 | % | 3/15/24 | 2,000,000 | 2,042,830 | |||||||||||
| Targa Resources Partners LP/Targa Resources Partners Finance Corp., Senior Notes |
6.500 | % | 7/15/27 | 1,220,000 | 1,320,650 | |||||||||||
| Targa Resources Partners LP/Targa Resources Partners Finance Corp., Senior Notes |
6.875 | % | 1/15/29 | 560,000 | 620,550 | |||||||||||
| Transcontinental Gas Pipe Line Co. LLC, Senior Notes |
7.850 | % | 2/1/26 | 1,500,000 | 1,963,518 | |||||||||||
| Transportadora de Gas del Peru SA, Senior Notes |
4.250 | % | 4/30/28 | 500,000 | 558,505 | (a) | ||||||||||
| Transportadora de Gas del Sur SA, Senior Notes |
6.750 | % | 5/2/25 | 1,930,000 | 1,667,645 | (a) | ||||||||||
| Western Midstream Operating LP, Senior Notes |
5.050 | % | 2/1/30 | 340,000 | 348,529 | |||||||||||
| Western Midstream Operating LP, Senior Notes |
5.450 | % | 4/1/44 | 2,000,000 | 1,854,380 | |||||||||||
| Western Midstream Operating LP, Senior Notes |
5.300 | % | 3/1/48 | 500,000 | 448,915 | |||||||||||
| Western Midstream Operating LP, Senior Notes |
6.250 | % | 2/1/50 | 6,715,000 | 6,736,555 | |||||||||||
| Williams Cos. Inc., Senior Notes |
3.700 | % | 1/15/23 | 500,000 | 531,128 | |||||||||||
| Williams Cos. Inc., Senior Notes |
4.550 | % | 6/24/24 | 680,000 | 764,329 | |||||||||||
| Williams Cos. Inc., Senior Notes |
7.500 | % | 1/15/31 | 340,000 | 448,434 | |||||||||||
| Williams Cos. Inc., Senior Notes |
8.750 | % | 3/15/32 | 486,000 | 702,151 | |||||||||||
See Notes to Schedule of Investments.
| Western Asset Global High Income Fund Inc. 2020 Quarterly Report |
7 |
WESTERN ASSET GLOBAL HIGH INCOME FUND INC.
| Schedule of investments (unaudited) (cont’d) | August 31, 2020 |
| SECURITY‡ |
RATE | MATURITY DATE |
FACE AMOUNT† |
VALUE | ||||||||||||
| Oil, Gas & Consumable Fuels - (continued) |
||||||||||||||||
| Williams Cos. Inc., Senior Notes |
5.750 | % | 6/24/44 | 1,510,000 | $ | 1,820,829 | ||||||||||
| WPX Energy Inc., Senior Notes |
8.250 | % | 8/1/23 | 180,000 | 202,958 | |||||||||||
| YPF SA, Senior Notes |
8.500 | % | 7/28/25 | 7,140,000 | 5,778,045 | (a) | ||||||||||
|
|
|
|||||||||||||||
| TOTAL ENERGY |
98,112,662 | |||||||||||||||
|
|
|
|||||||||||||||
| FINANCIALS - 16.5% | ||||||||||||||||
| Banks - 12.7% |
||||||||||||||||
| Banco Bilbao Vizcaya Argentaria Colombia SA, Subordinated Notes |
4.875 | % | 4/21/25 | 540,000 | 566,274 | (a) | ||||||||||
| Bank of America Corp., Junior Subordinated Notes (6.500% to 10/23/24 then 3 mo. USD LIBOR + 4.174%) |
6.500 | % | 10/23/24 | 1,200,000 | 1,356,198 | (d)(e) | ||||||||||
| Bank of America Corp., Subordinated Notes |
4.250 | % | 10/22/26 | 1,000,000 | 1,159,327 | |||||||||||
| Barclays Bank PLC, Subordinated Notes |
10.179 | % | 6/12/21 | 2,520,000 | 2,692,117 | (a) | ||||||||||
| Barclays Bank PLC, Subordinated Notes |
7.625 | % | 11/21/22 | 3,430,000 | 3,815,187 | |||||||||||
| Barclays PLC, Junior Subordinated Notes (8.000% to 6/15/24 then 5 year Treasury Constant Maturity Rate + 5.672%) |
8.000 | % | 6/15/24 | 1,620,000 | 1,773,026 | (d)(e) | ||||||||||
| Barclays PLC, Subordinated Notes |
5.200 | % | 5/12/26 | 500,000 | 570,605 | |||||||||||
| Barclays PLC, Subordinated Notes (5.088% to 6/20/29 then 3 mo. USD LIBOR + 3.054%) |
5.088 | % | 6/20/30 | 1,200,000 | 1,395,873 | (d) | ||||||||||
| BBVA Banco Continental SA, Subordinated Notes (5.250% to 9/22/24 then 5 year Treasury Constant Maturity Rate + 2.750%) |
5.250 | % | 9/22/29 | 240,000 | 263,054 | (a)(d) | ||||||||||
| BBVA Bancomer SA, Subordinated Notes (5.125% to 1/17/28 then 5 year Treasury Constant Maturity Rate + 2.650%) |
5.125 | % | 1/18/33 | 4,590,000 | 4,426,481 | (a)(d) | ||||||||||
| BNP Paribas SA, Junior Subordinated Notes (7.375% to 8/19/25 then USD 5 year ICE Swap Rate + 5.150%) |
7.375 | % | 8/19/25 | 1,360,000 | 1,550,529 | (a)(d)(e) | ||||||||||
| CIT Group Inc., Senior Notes |
5.000 | % | 8/15/22 | 470,000 | 492,414 | |||||||||||
See Notes to Schedule of Investments.
|
8 |
Western Asset Global High Income Fund Inc. 2020 Quarterly Report |
WESTERN ASSET GLOBAL HIGH INCOME FUND INC.
| Schedule of investments (unaudited) (cont’d) | August 31, 2020 |
| SECURITY‡ |
RATE | MATURITY DATE |
FACE AMOUNT† |
VALUE | ||||||||||||
| Banks - (continued) |
||||||||||||||||
| Citigroup Inc., Junior Subordinated Notes (5.950% to 5/15/25 then 3 mo. USD LIBOR + 3.905%) |
5.950 | % | 5/15/25 | 2,040,000 | $ | 2,203,698 | (d)(e) | |||||||||
| Citigroup Inc., Junior Subordinated Notes (6.300% to 5/15/24 then 3 mo. USD LIBOR + 3.423%) |
6.300 | % | 5/15/24 | 3,180,000 | 3,408,483 | (d)(e) | ||||||||||
| Citigroup Inc., Subordinated Notes |
4.125 | % | 7/25/28 | 500,000 | 575,142 | |||||||||||
| Credit Agricole SA, Junior Subordinated Notes (8.125% to 12/23/25 then USD 5 year ICE Swap Rate + 6.185%) |
8.125 | % | 12/23/25 | 2,160,000 | 2,569,050 | (a)(d)(e) | ||||||||||
| HSBC Holdings PLC, Junior Subordinated Notes (6.000% to 5/22/27 then USD 5 year ICE Swap Rate + 3.746%) |
6.000 | % | 5/22/27 | 1,530,000 | 1,582,915 | (d)(e) | ||||||||||
| HSBC Holdings PLC, Junior Subordinated Notes (6.500% to 3/23/28 then USD 5 year ICE Swap Rate + 3.606%) |
6.500 | % | 3/23/28 | 3,810,000 | 4,108,380 | (d)(e) | ||||||||||
| Intesa Sanpaolo SpA, Subordinated Notes |
5.017 | % | 6/26/24 | 4,380,000 | 4,726,014 | (a) | ||||||||||
| Intesa Sanpaolo SpA, Subordinated Notes |
5.710 | % | 1/15/26 | 4,250,000 | 4,728,024 | (a) | ||||||||||
| JPMorgan Chase & Co., Junior Subordinated Notes (6.000% to 8/1/23 then 3 mo. USD LIBOR + 3.300%) |
6.000 | % | 8/1/23 | 1,630,000 | 1,720,076 | (d)(e) | ||||||||||
| JPMorgan Chase & Co., Junior Subordinated Notes (6.100% to 10/1/24 then 3 mo. USD LIBOR + 3.330%) |
6.100 | % | 10/1/24 | 1,000,000 | 1,074,518 | (d)(e) | ||||||||||
| Lloyds Banking Group PLC, Subordinated Notes |
4.650 | % | 3/24/26 | 840,000 | 955,123 | |||||||||||
| Natwest Group PLC, Junior Subordinated Notes (7.648% to 9/30/31 then 3 mo. USD LIBOR + 2.500%) |
7.648 | % | 9/30/31 | 660,000 | 998,065 | (d)(e) | ||||||||||
| Natwest Group PLC, Junior Subordinated Notes (8.625% to 8/15/21 then USD 5 year ICE Swap Rate + 7.598%) |
8.625 | % | 8/15/21 | 760,000 | 800,577 | (d)(e) | ||||||||||
See Notes to Schedule of Investments.
| Western Asset Global High Income Fund Inc. 2020 Quarterly Report |
9 |
WESTERN ASSET GLOBAL HIGH INCOME FUND INC.
| Schedule of investments (unaudited) (cont’d) | August 31, 2020 |
| SECURITY‡ |
RATE | MATURITY DATE |
FACE AMOUNT† |
VALUE | ||||||||||||
| Banks - (continued) |
||||||||||||||||
| Natwest Group PLC, Subordinated Notes |
5.125 | % | 5/28/24 | 1,760,000 | $ | 1,951,300 | ||||||||||
| NatWest Markets NV, Subordinated Notes |
7.750 | % | 5/15/23 | 490,000 | 556,728 | |||||||||||
| Santander UK Group Holdings PLC, Junior Subordinated Notes (7.375% to 6/24/22 then GBP 5 year Swap Rate + 5.543%) |
7.375 | % | 6/24/22 | 1,240,000 | GBP | 1,760,770 | (c)(d)(e) | |||||||||
| TC Ziraat Bankasi AS, Senior Notes |
5.125 | % | 9/29/23 | 1,890,000 | 1,779,696 | (a) | ||||||||||
| UniCredit SpA, Subordinated Notes (7.296% to 4/2/29 then USD 5 year ICE Swap Rate + 4.914%) |
7.296 | % | 4/2/34 | 2,170,000 | 2,538,507 | (a)(d) | ||||||||||
|
|
|
|||||||||||||||
| Total Banks |
58,098,151 | |||||||||||||||
|
|
|
|||||||||||||||
| Capital Markets - 1.6% |
||||||||||||||||
| Credit Suisse Group AG, Junior Subordinated Notes (7.250% to 9/12/25 then 5 year Treasury Constant Maturity Rate + 4.332%) |
7.250 | % | 9/12/25 | 1,770,000 | 1,950,354 | (a)(d)(e) | ||||||||||
| Donnelley Financial Solutions Inc., Senior Notes |
8.250 | % | 10/15/24 | 1,330,000 | 1,388,048 | |||||||||||
| UBS Group AG, Junior Subordinated Notes (7.000% to 1/31/24 then USD 5 year ICE Swap Rate + 4.344%) |
7.000 | % | 1/31/24 | 3,890,000 | 4,218,491 | (a)(d)(e) | ||||||||||
|
|
|
|||||||||||||||
| Total Capital Markets |
7,556,893 | |||||||||||||||
|
|
|
|||||||||||||||
| Consumer Finance - 0.2% |
||||||||||||||||
| Navient Corp., Senior Notes |
5.875 | % | 10/25/24 | 480,000 | 495,000 | |||||||||||
| Navient Corp., Senior Notes |
6.750 | % | 6/15/26 | 410,000 | 427,169 | |||||||||||
|
|
|
|||||||||||||||
| Total Consumer Finance |
922,169 | |||||||||||||||
|
|
|
|||||||||||||||
| Diversified Financial Services - 2.0% |
||||||||||||||||
| AerCap Ireland Capital DAC/AerCap Global Aviation Trust, Senior Notes |
4.500 | % | 5/15/21 | 500,000 | 508,572 | |||||||||||
| AerCap Ireland Capital DAC/AerCap Global Aviation Trust, Senior Notes |
4.625 | % | 7/1/22 | 640,000 | 655,614 | |||||||||||
| Banco Nacional de Comercio Exterior SNC, Senior Notes |
4.375 | % | 10/14/25 | 1,340,000 | 1,428,634 | (a) | ||||||||||
| GE Capital International Funding Co. Unlimited Co., Senior Notes |
3.373 | % | 11/15/25 | 1,000,000 | 1,062,479 | |||||||||||
| Global Aircraft Leasing Co. Ltd., Senior Notes (6.500% Cash or 7.250% PIK) |
6.500 | % | 9/15/24 | 3,520,000 | 2,059,200 | (a)(f) | ||||||||||
See Notes to Schedule of Investments.
|
10 |
Western Asset Global High Income Fund Inc. 2020 Quarterly Report |
WESTERN ASSET GLOBAL HIGH INCOME FUND INC.
| Schedule of investments (unaudited) (cont’d) | August 31, 2020 |
| SECURITY‡ |
RATE | MATURITY DATE |
FACE AMOUNT† |
VALUE | ||||||||||||
| Diversified Financial Services - (continued) |
||||||||||||||||
| International Lease Finance Corp., Senior Notes |
8.250 | % | 12/15/20 | 2,620,000 | $ | 2,671,063 | ||||||||||
| International Lease Finance Corp., Senior Notes |
5.875 | % | 8/15/22 | 580,000 | 628,065 | |||||||||||
|
|
|
|||||||||||||||
| Total Diversified Financial Services |
9,013,627 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL FINANCIALS |
75,590,840 | |||||||||||||||
|
|
|
|||||||||||||||
| HEALTH CARE - 7.3% | ||||||||||||||||
| Health Care Providers & Services - 2.5% |
||||||||||||||||
| Centene Corp., Senior Notes |
4.750 | % | 1/15/25 | 1,600,000 | 1,648,000 | |||||||||||
| CHS/Community Health Systems Inc., Senior Secured Notes |
8.000 | % | 3/15/26 | 1,000,000 | 1,038,500 | (a) | ||||||||||
| HCA Inc., Senior Notes |
5.625 | % | 9/1/28 | 1,690,000 | 2,012,942 | |||||||||||
| HCA Inc., Senior Secured Notes |
4.125 | % | 6/15/29 | 1,000,000 | 1,153,433 | |||||||||||
| LifePoint Health Inc., Senior Secured Notes |
6.750 | % | 4/15/25 | 900,000 | 972,000 | (a) | ||||||||||
| Magellan Health Inc., Senior Notes |
4.900 | % | 9/22/24 | 3,020,000 | 3,151,808 | |||||||||||
| Tenet Healthcare Corp., Senior Secured Notes |
7.500 | % | 4/1/25 | 750,000 | 824,186 | (a) | ||||||||||
| Tenet Healthcare Corp., Senior Secured Notes |
4.625 | % | 6/15/28 | 590,000 | 613,494 | (a) | ||||||||||
|
|
|
|||||||||||||||
| Total Health Care Providers & Services |
|
11,414,363 | ||||||||||||||
|
|
|
|||||||||||||||
| Pharmaceuticals - 4.8% |
||||||||||||||||
| Bausch Health Americas Inc., Senior Notes |
8.500 | % | 1/31/27 | 1,110,000 | 1,222,571 | (a) | ||||||||||
| Bausch Health Cos. Inc., Senior Notes |
5.875 | % | 5/15/23 | 102,000 | 101,825 | (a) | ||||||||||
| Bausch Health Cos. Inc., Senior Notes |
6.125 | % | 4/15/25 | 3,370,000 | 3,470,257 | (a) | ||||||||||
| Bausch Health Cos. Inc., Senior Secured Notes |
7.000 | % | 3/15/24 | 700,000 | 727,300 | (a) | ||||||||||
| Teva Pharmaceutical Finance Co. BV, Senior Notes |
2.950 | % | 12/18/22 | 2,440,000 | 2,372,229 | |||||||||||
| Teva Pharmaceutical Finance IV BV, Senior Notes |
3.650 | % | 11/10/21 | 2,060,000 | 2,070,764 | |||||||||||
| Teva Pharmaceutical Finance Netherlands III BV, Senior Notes |
2.200 | % | 7/21/21 | 2,730,000 | 2,730,887 | |||||||||||
| Teva Pharmaceutical Finance Netherlands III BV, Senior Notes |
2.800 | % | 7/21/23 | 4,110,000 | 3,953,162 | |||||||||||
See Notes to Schedule of Investments.
| Western Asset Global High Income Fund Inc. 2020 Quarterly Report |
11 |
WESTERN ASSET GLOBAL HIGH INCOME FUND INC.
| Schedule of investments (unaudited) (cont’d) | August 31, 2020 |
| SECURITY‡ |
RATE | MATURITY DATE |
FACE AMOUNT† |
VALUE | ||||||||||||
| Pharmaceuticals - (continued) |
||||||||||||||||
| Teva Pharmaceutical Finance Netherlands III BV, Senior Notes |
6.000 | % | 4/15/24 | 4,450,000 | $ | 4,682,846 | ||||||||||
| Teva Pharmaceutical Finance Netherlands III BV, Senior Notes |
3.150 | % | 10/1/26 | 700,000 | 642,688 | |||||||||||
|
|
|
|||||||||||||||
| Total Pharmaceuticals |
21,974,529 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL HEALTH CARE |
33,388,892 | |||||||||||||||
|
|
|
|||||||||||||||
| INDUSTRIALS - 8.0% | ||||||||||||||||
| Aerospace & Defense - 0.6% |
||||||||||||||||
| TransDigm Inc., Senior Secured Notes |
8.000 | % | 12/15/25 | 2,520,000 | 2,743,020 | (a) | ||||||||||
|
|
|
|||||||||||||||
| Airlines - 4.4% |
||||||||||||||||
| Delta Air Lines Inc., Senior Notes |
3.400 | % | 4/19/21 | 310,000 | 310,770 | |||||||||||
| Delta Air Lines Inc., Senior Notes |
3.625 | % | 3/15/22 | 2,470,000 | 2,456,457 | |||||||||||
| Delta Air Lines Inc., Senior Notes |
3.800 | % | 4/19/23 | 3,410,000 | 3,278,258 | |||||||||||
| Delta Air Lines Inc., Senior Notes |
2.900 | % | 10/28/24 | 840,000 | 771,817 | |||||||||||
| Delta Air Lines Inc., Senior Notes |
7.375 | % | 1/15/26 | 690,000 | 718,987 | |||||||||||
| Delta Air Lines Inc., Senior Secured Notes |
7.000 | % | 5/1/25 | 6,190,000 | 6,785,257 | (a) | ||||||||||
| Delta Air Lines Pass-Through Certificates Trust |
8.021 | % | 8/10/22 | 121,422 | 114,129 | |||||||||||
| Mileage Plus Holdings LLC/Mileage Plus Intellectual Property Assets Ltd., Senior Secured Notes |
6.500 | % | 6/20/27 | 2,500,000 | 2,606,250 | (a) | ||||||||||
| United Airlines Holdings Inc., Senior Notes |
4.250 | % | 10/1/22 | 2,530,000 | 2,344,209 | |||||||||||
| United Airlines Holdings Inc., Senior Notes |
5.000 | % | 2/1/24 | 800,000 | 724,000 | |||||||||||
|
|
|
|||||||||||||||
| Total Airlines |
20,110,134 | |||||||||||||||
|
|
|
|||||||||||||||
| Building Products - 1.0% |
||||||||||||||||
| Standard Industries Inc., Senior Notes |
5.000 | % | 2/15/27 | 2,440,000 | 2,554,912 | (a) | ||||||||||
| Standard Industries Inc., Senior Notes |
4.750 | % | 1/15/28 | 1,820,000 | 1,920,100 | (a) | ||||||||||
|
|
|
|||||||||||||||
| Total Building Products |
4,475,012 | |||||||||||||||
|
|
|
|||||||||||||||
| Commercial Services & Supplies - 0.2% |
||||||||||||||||
| GFL Environmental Inc., Senior Notes |
8.500 | % | 5/1/27 | 834,000 | 909,214 | (a) | ||||||||||
|
|
|
|||||||||||||||
See Notes to Schedule of Investments.
|
12 |
Western Asset Global High Income Fund Inc. 2020 Quarterly Report |
WESTERN ASSET GLOBAL HIGH INCOME FUND INC.
| Schedule of investments (unaudited) (cont’d) | August 31, 2020 |
| SECURITY‡ |
RATE | MATURITY DATE |
FACE AMOUNT† |
VALUE | ||||||||||||
| Industrial Conglomerates - 0.2% |
||||||||||||||||
| Alfa SAB de CV, Senior Notes |
6.875 | % | 3/25/44 | 400,000 | $ | 466,918 | (a) | |||||||||
| General Electric Co., Junior Subordinated Notes (5.000% to 1/21/21 then 3 mo. USD LIBOR + 3.330%) |
5.000 | % | 1/21/21 | 400,000 | 314,444 | (d)(e) | ||||||||||
|
|
|
|||||||||||||||
| Total Industrial Conglomerates |
781,362 | |||||||||||||||
|
|
|
|||||||||||||||
| Machinery - 0.5% |
||||||||||||||||
| Allison Transmission Inc., Senior Notes |
4.750 | % | 10/1/27 | 1,434,000 | 1,503,635 | (a) | ||||||||||
| Clark Equipment Co., Senior Secured Notes |
5.875 | % | 6/1/25 | 890,000 | 939,506 | (a) | ||||||||||
|
|
|
|||||||||||||||
| Total Machinery |
2,443,141 | |||||||||||||||
|
|
|
|||||||||||||||
| Trading Companies & Distributors - 1.1% |
||||||||||||||||
| Ashtead Capital Inc., Secured Notes |
4.125 | % | 8/15/25 | 2,180,000 | 2,250,850 | (a) | ||||||||||
| United Rentals North America Inc., Senior Notes |
5.500 | % | 5/15/27 | 500,000 | 536,488 | |||||||||||
| United Rentals North America Inc., Senior Notes |
4.875 | % | 1/15/28 | 2,170,000 | 2,292,062 | |||||||||||
|
|
|
|||||||||||||||
| Total Trading Companies & Distributors |
|
5,079,400 | ||||||||||||||
|
|
|
|||||||||||||||
| TOTAL INDUSTRIALS |
36,541,283 | |||||||||||||||
|
|
|
|||||||||||||||
| INFORMATION TECHNOLOGY - 1.7% | ||||||||||||||||
| Communications Equipment - 0.5% |
||||||||||||||||
| CommScope Inc., Senior Notes |
8.250 | % | 3/1/27 | 1,920,000 | 2,078,294 | (a) | ||||||||||
| CommScope Technologies LLC, Senior Notes |
6.000 | % | 6/15/25 | 36,000 | 36,956 | (a) | ||||||||||
|
|
|
|||||||||||||||
| Total Communications Equipment |
2,115,250 | |||||||||||||||
|
|
|
|||||||||||||||
| Semiconductors & Semiconductor Equipment - 0.1% |
|
|||||||||||||||
| Sensata Technologies UK Financing Co. PLC, Senior Notes |
6.250 | % | 2/15/26 | 250,000 | 263,329 | (a) | ||||||||||
|
|
|
|||||||||||||||
| Technology Hardware, Storage & Peripherals - 1.1% |
|
|||||||||||||||
| Dell International LLC/EMC Corp., Senior Notes |
7.125 | % | 6/15/24 | 1,010,000 | 1,048,885 | (a) | ||||||||||
| Seagate HDD Cayman, Senior Notes |
4.750 | % | 6/1/23 | 410,000 | 442,378 | |||||||||||
| Seagate HDD Cayman, Senior Notes |
4.750 | % | 1/1/25 | 1,330,000 | 1,452,508 | |||||||||||
See Notes to Schedule of Investments.
| Western Asset Global High Income Fund Inc. 2020 Quarterly Report |
13 |
WESTERN ASSET GLOBAL HIGH INCOME FUND INC.
| Schedule of investments (unaudited) (cont’d) | August 31, 2020 |
| SECURITY‡ |
RATE | MATURITY DATE |
FACE AMOUNT† |
VALUE | ||||||||||||
| Technology Hardware, Storage & Peripherals - (continued) |
|
|||||||||||||||
| Seagate HDD Cayman, Senior Notes |
4.875 | % | 6/1/27 | 630,000 | $ | 705,689 | ||||||||||
| Western Digital Corp., Senior Notes |
4.750 | % | 2/15/26 | 1,390,000 | 1,505,912 | |||||||||||
|
|
|
|||||||||||||||
| Total Technology Hardware, Storage & Peripherals |
|
5,155,372 | ||||||||||||||
|
|
|
|||||||||||||||
| TOTAL INFORMATION TECHNOLOGY |
7,533,951 | |||||||||||||||
|
|
|
|||||||||||||||
| MATERIALS - 8.8% | ||||||||||||||||
| Chemicals - 1.7% |
||||||||||||||||
| Anagram International Inc./Anagram Holdings LLC, Secured Notes (5.000% Cash and 5.000% PIK) |
10.000 | % | 8/15/26 | 283,537 | 241,006 | (a)(f) | ||||||||||
| Braskem America Finance Co., Senior Notes |
7.125 | % | 7/22/41 | 1,060,000 | 1,139,500 | (c) | ||||||||||
| OCP SA, Senior Notes |
5.625 | % | 4/25/24 | 1,250,000 | 1,362,775 | (a) | ||||||||||
| OCP SA, Senior Notes |
4.500 | % | 10/22/25 | 1,070,000 | 1,134,360 | (a) | ||||||||||
| Orbia Advance Corp SAB de CV, Senior Notes |
5.875 | % | 9/17/44 | 2,000,000 | 2,342,590 | (a) | ||||||||||
| Valvoline Inc., Senior Notes |
4.375 | % | 8/15/25 | 1,250,000 | 1,301,681 | |||||||||||
|
|
|
|||||||||||||||
| Total Chemicals |
7,521,912 | |||||||||||||||
|
|
|
|||||||||||||||
| Containers & Packaging - 2.4% |
||||||||||||||||
| ARD Finance SA, Senior Secured Notes (6.500% Cash or 7.250% PIK) |
6.500 | % | 6/30/27 | 1,080,000 | 1,111,050 | (a)(f) | ||||||||||
| Ardagh Packaging Finance PLC/Ardagh Holdings USA Inc., Senior Notes |
6.000 | % | 2/15/25 | 3,890,000 | 4,061,160 | (a) | ||||||||||
| Ardagh Packaging Finance PLC/Ardagh Holdings USA Inc., Senior Notes |
5.250 | % | 8/15/27 | 490,000 | 510,276 | (a) | ||||||||||
| Greif Inc., Senior Notes |
6.500 | % | 3/1/27 | 1,680,000 | 1,793,089 | (a) | ||||||||||
| Pactiv LLC, Senior Notes |
7.950 | % | 12/15/25 | 2,220,000 | 2,461,192 | |||||||||||
| Trivium Packaging Finance BV, Senior Notes |
8.500 | % | 8/15/27 | 950,000 | 1,046,687 | (a) | ||||||||||
|
|
|
|||||||||||||||
| Total Containers & Packaging |
10,983,454 | |||||||||||||||
|
|
|
|||||||||||||||
| Metals & Mining - 3.1% |
||||||||||||||||
| Anglo American Capital PLC, Senior Notes |
4.125 | % | 4/15/21 | 520,000 | 529,341 | (a) | ||||||||||
| Anglo American Capital PLC, Senior Notes |
4.875 | % | 5/14/25 | 1,470,000 | 1,669,984 | (a) | ||||||||||
| ArcelorMittal SA, Senior Notes |
7.250 | % | 10/15/39 | 1,140,000 | 1,466,567 | |||||||||||
See Notes to Schedule of Investments.
|
14 |
Western Asset Global High Income Fund Inc. 2020 Quarterly Report |
WESTERN ASSET GLOBAL HIGH INCOME FUND INC.
| Schedule of investments (unaudited) (cont’d) | August 31, 2020 |
| SECURITY‡ |
RATE | MATURITY DATE |
FACE AMOUNT† |
VALUE | ||||||||||||
| Metals & Mining - (continued) |
||||||||||||||||
| First Quantum Minerals Ltd., Senior Notes |
7.250 | % | 4/1/23 | 1,340,000 | $ | 1,363,818 | (a) | |||||||||
| Freeport-McMoRan Inc., Senior Notes |
3.875 | % | 3/15/23 | 680,000 | 705,418 | |||||||||||
| Freeport-McMoRan Inc., Senior Notes |
4.550 | % | 11/14/24 | 360,000 | 389,119 | |||||||||||
| Freeport-McMoRan Inc., Senior Notes |
4.250 | % | 3/1/30 | 500,000 | 525,780 | |||||||||||
| Freeport-McMoRan Inc., Senior Notes |
5.400 | % | 11/14/34 | 2,530,000 | 2,859,925 | |||||||||||
| Southern Copper Corp., Senior Notes |
6.750 | % | 4/16/40 | 730,000 | 1,056,406 | |||||||||||
| Southern Copper Corp., Senior Notes |
5.250 | % | 11/8/42 | 2,380,000 | 3,048,747 | |||||||||||
| Teck Resources Ltd., Senior Notes |
6.000 | % | 8/15/40 | 460,000 | 499,563 | |||||||||||
|
|
|
|||||||||||||||
| Total Metals & Mining |
14,114,668 | |||||||||||||||
|
|
|
|||||||||||||||
| Paper & Forest Products - 1.6% |
||||||||||||||||
| Inversiones CMPC SA, Senior Notes |
4.500 | % | 4/25/22 | 500,000 | 521,785 | (a) | ||||||||||
| Inversiones CMPC SA, Senior Notes |
4.375 | % | 5/15/23 | 460,000 | 489,917 | (a) | ||||||||||
| Mercer International Inc., Senior Notes |
7.375 | % | 1/15/25 | 2,370,000 | 2,441,100 | |||||||||||
| Suzano Austria GmbH, Senior Notes |
5.750 | % | 7/14/26 | 3,400,000 | 3,896,604 | (a) | ||||||||||
|
|
|
|||||||||||||||
| Total Paper & Forest Products |
7,349,406 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL MATERIALS |
39,969,440 | |||||||||||||||
|
|
|
|||||||||||||||
| REAL ESTATE - 1.2% | ||||||||||||||||
| Equity Real Estate Investment Trusts (REITs) - 1.2% |
|
|||||||||||||||
| CoreCivic Inc., Senior Notes |
4.750 | % | 10/15/27 | 1,368,000 | 1,167,116 | |||||||||||
| Diversified Healthcare Trust, Senior Notes |
9.750 | % | 6/15/25 | 660,000 | 736,797 | |||||||||||
| MPT Operating Partnership LP/MPT Finance Corp., Senior Notes |
6.375 | % | 3/1/24 | 780,000 | 806,571 | |||||||||||
| MPT Operating Partnership LP/MPT Finance Corp., Senior Notes |
5.250 | % | 8/1/26 | 1,570,000 | 1,653,061 | |||||||||||
| XHR LP, Senior Secured Notes |
6.375 | % | 8/15/25 | 1,180,000 | 1,212,450 | (a) | ||||||||||
|
|
|
|||||||||||||||
| TOTAL REAL ESTATE |
5,575,995 | |||||||||||||||
|
|
|
|||||||||||||||
See Notes to Schedule of Investments.
| Western Asset Global High Income Fund Inc. 2020 Quarterly Report |
15 |
WESTERN ASSET GLOBAL HIGH INCOME FUND INC.
| Schedule of investments (unaudited) (cont’d) | August 31, 2020 |
| SECURITY‡ |
RATE | MATURITY DATE |
FACE AMOUNT† |
VALUE | ||||||||||||
| UTILITIES - 1.9% | ||||||||||||||||
| Electric Utilities - 0.6% |
||||||||||||||||
| FirstEnergy Corp., Senior Notes |
7.375 | % | 11/15/31 | 330,000 | $ | 467,789 | ||||||||||
| Pampa Energia SA, Senior Notes |
7.375 | % | 7/21/23 | 920,000 | 844,109 | (c) | ||||||||||
| Pampa Energia SA, Senior Notes |
7.500 | % | 1/24/27 | 1,500,000 | 1,282,500 | (a) | ||||||||||
|
|
|
|||||||||||||||
| Total Electric Utilities |
2,594,398 | |||||||||||||||
|
|
|
|||||||||||||||
| Gas Utilities - 0.7% |
||||||||||||||||
| Suburban Propane Partners LP/ Suburban Energy Finance Corp., Senior Notes |
5.875 | % | 3/1/27 | 3,100,000 | 3,224,000 | |||||||||||
|
|
|
|||||||||||||||
| Independent Power and Renewable Electricity Producers - 0.6% |
|
|||||||||||||||
| Listrindo Capital BV, Senior Notes |
4.950 | % | 9/14/26 | 1,000,000 | 1,038,750 | (a) | ||||||||||
| Minejesa Capital BV, Senior Secured Notes |
5.625 | % | 8/10/37 | 1,780,000 | 1,885,545 | (a) | ||||||||||
|
|
|
|||||||||||||||
| Total Independent Power and Renewable Electricity Producers |
2,924,295 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL UTILITIES |
8,742,693 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL CORPORATE BONDS & NOTES (Cost - $396,610,331) |
445,190,186 | |||||||||||||||
|
|
|
|||||||||||||||
| SOVEREIGN BONDS - 23.6% | ||||||||||||||||
| Argentina - 1.9% |
||||||||||||||||
| Argentine Republic Government International Bond, Senior Notes |
6.875 | % | 4/22/21 | 2,680,000 | 1,303,820 | *(b) | ||||||||||
| Argentine Republic Government International Bond, Senior Notes |
5.625 | % | 1/26/22 | 5,780,000 | 2,774,400 | *(b) | ||||||||||
| Argentine Republic Government International Bond, Senior Notes |
4.625 | % | 1/11/23 | 5,250,000 | 2,486,689 | *(b) | ||||||||||
| Provincia de Buenos Aires, Senior Notes |
9.950 | % | 6/9/21 | 4,780,000 | 2,318,300 | *(a)(b) | ||||||||||
|
|
|
|||||||||||||||
| Total Argentina |
8,883,209 | |||||||||||||||
|
|
|
|||||||||||||||
| Armenia - 0.2% |
||||||||||||||||
| Republic of Armenia International Bond, Senior Notes |
3.950 | % | 9/26/29 | 800,000 | 814,000 | (a) | ||||||||||
|
|
|
|||||||||||||||
| Brazil - 1.4% |
||||||||||||||||
| Brazil Notas do Tesouro Nacional Serie F, Notes |
10.000 | % | 1/1/21 | 2,826,000 | BRL | 528,772 | ||||||||||
| Brazil Notas do Tesouro Nacional Serie F, Notes |
10.000 | % | 1/1/23 | 18,677,000 | BRL | 3,837,536 | ||||||||||
| Brazilian Government International Bond, Senior Notes |
4.625 | % | 1/13/28 | 1,750,000 | 1,936,699 | |||||||||||
|
|
|
|||||||||||||||
| Total Brazil |
6,303,007 | |||||||||||||||
|
|
|
|||||||||||||||
| Colombia - 0.8% |
||||||||||||||||
| Colombia Government International Bond, Senior Notes |
7.375 | % | 9/18/37 | 2,542,000 | 3,654,125 | |||||||||||
|
|
|
|||||||||||||||
See Notes to Schedule of Investments.
|
16 |
Western Asset Global High Income Fund Inc. 2020 Quarterly Report |
WESTERN ASSET GLOBAL HIGH INCOME FUND INC.
| Schedule of investments (unaudited) (cont’d) | August 31, 2020 |
| SECURITY‡ |
RATE | MATURITY DATE |
FACE AMOUNT† |
VALUE | ||||||||||||
| Costa Rica - 0.1% |
||||||||||||||||
| Costa Rica Government International Bond, Senior Notes |
7.158 | % | 3/12/45 | 500,000 | $ | 463,000 | (a) | |||||||||
|
|
|
|||||||||||||||
| Croatia - 0.2% |
||||||||||||||||
| Croatia Government International Bond, Senior Notes |
5.500 | % | 4/4/23 | 450,000 | 501,118 | (c) | ||||||||||
| Croatia Government International Bond, Senior Notes |
5.500 | % | 4/4/23 | 410,000 | 456,575 | (a) | ||||||||||
|
|
|
|||||||||||||||
| Total Croatia |
957,693 | |||||||||||||||
|
|
|
|||||||||||||||
| Dominican Republic - 0.9% |
||||||||||||||||
| Dominican Republic International Bond, Senior Notes |
5.500 | % | 1/27/25 | 4,120,000 | 4,332,777 | (a) | ||||||||||
|
|
|
|||||||||||||||
| Egypt - 0.6% |
||||||||||||||||
| Egypt Government International Bond, Senior Notes |
5.577 | % | 2/21/23 | 600,000 | 621,432 | (a) | ||||||||||
| Egypt Government International Bond, Senior Notes |
7.600 | % | 3/1/29 | 1,950,000 | 2,056,314 | (a) | ||||||||||
|
|
|
|||||||||||||||
| Total Egypt |
2,677,746 | |||||||||||||||
|
|
|
|||||||||||||||
| Ghana - 0.5% |
||||||||||||||||
| Ghana Government International Bond |
10.750 | % | 10/14/30 | 920,000 | 1,137,258 | (a) | ||||||||||
| Ghana Government International Bond, Senior Notes |
8.125 | % | 1/18/26 | 270,000 | 277,335 | (a) | ||||||||||
| Ghana Government International Bond, Senior Notes |
7.625 | % | 5/16/29 | 900,000 | 864,594 | (a) | ||||||||||
|
|
|
|||||||||||||||
| Total Ghana |
2,279,187 | |||||||||||||||
|
|
|
|||||||||||||||
| Guatemala - 0.3% |
||||||||||||||||
| Guatemala Government Bond, Senior Notes |
4.375 | % | 6/5/27 | 1,370,000 | 1,492,012 | (a) | ||||||||||
|
|
|
|||||||||||||||
| Honduras - 0.4% |
||||||||||||||||
| Honduras Government International Bond, Senior Notes |
7.500 | % | 3/15/24 | 400,000 | 442,600 | (c) | ||||||||||
| Honduras Government International Bond, Senior Notes |
6.250 | % | 1/19/27 | 1,200,000 | 1,342,200 | (a) | ||||||||||
|
|
|
|||||||||||||||
| Total Honduras |
1,784,800 | |||||||||||||||
|
|
|
|||||||||||||||
| Hungary - 0.3% |
||||||||||||||||
| Hungary Government International Bond, Senior Notes |
5.750 | % | 11/22/23 | 942,000 | 1,083,696 | |||||||||||
| Hungary Government International Bond, Senior Notes |
5.375 | % | 3/25/24 | 300,000 | 345,978 | |||||||||||
|
|
|
|||||||||||||||
| Total Hungary |
1,429,674 | |||||||||||||||
|
|
|
|||||||||||||||
See Notes to Schedule of Investments.
| Western Asset Global High Income Fund Inc. 2020 Quarterly Report |
17 |
WESTERN ASSET GLOBAL HIGH INCOME FUND INC.
| Schedule of investments (unaudited) (cont’d) | August 31, 2020 |
| SECURITY‡ |
RATE | MATURITY DATE |
FACE AMOUNT† |
VALUE | ||||||||||||
| Indonesia - 4.3% |
||||||||||||||||
| Indonesia Government International Bond, Senior Notes |
5.875 | % | 1/15/24 | 2,369,000 | $ | 2,733,222 | (a) | |||||||||
| Indonesia Government International Bond, Senior Notes |
4.125 | % | 1/15/25 | 1,110,000 | 1,239,421 | (a) | ||||||||||
| Indonesia Government International Bond, Senior Notes |
3.850 | % | 7/18/27 | 4,370,000 | 4,932,659 | (a) | ||||||||||
| Indonesia Government International Bond, Senior Notes |
3.500 | % | 1/11/28 | 520,000 | 573,375 | |||||||||||
| Indonesia Government International Bond, Senior Notes |
6.625 | % | 2/17/37 | 4,635,000 | 6,637,760 | (c) | ||||||||||
| Indonesia Treasury Bond, Senior Notes |
8.250 | % | 7/15/21 | 7,604,000,000 | IDR | 542,188 | ||||||||||
| Indonesia Treasury Bond, Senior Notes |
7.000 | % | 5/15/22 | 40,240,000,000 | IDR | 2,881,530 | ||||||||||
| Indonesia Treasury Bond, Senior Notes |
8.375 | % | 3/15/34 | 209,000,000 | IDR | 15,631 | ||||||||||
|
|
|
|||||||||||||||
| Total Indonesia |
19,555,786 | |||||||||||||||
|
|
|
|||||||||||||||
| Ivory Coast - 0.3% |
||||||||||||||||
| Ivory Coast Government |
||||||||||||||||
| International Bond, Senior Notes |
5.750 | % | 12/31/32 | 1,245,000 | 1,223,496 | (a) | ||||||||||
|
|
|
|||||||||||||||
| Jamaica - 0.4% |
||||||||||||||||
| Jamaica Government International Bond, Senior Notes |
6.750 | % | 4/28/28 | 1,000,000 | 1,167,900 | |||||||||||
| Jamaica Government International Bond, Senior Notes |
8.000 | % | 3/15/39 | 500,000 | 664,250 | |||||||||||
|
|
|
|||||||||||||||
| Total Jamaica |
1,832,150 | |||||||||||||||
|
|
|
|||||||||||||||
| Kenya - 0.1% |
||||||||||||||||
| Kenya Government International Bond, Senior Notes |
7.250 | % | 2/28/28 | 600,000 | 609,132 | (a) | ||||||||||
|
|
|
|||||||||||||||
| Mexico - 1.1% |
||||||||||||||||
| Mexico Government International Bond, Senior Notes |
3.600 | % | 1/30/25 | 2,200,000 | 2,392,500 | |||||||||||
| Mexico Government International Bond, Senior Notes |
3.750 | % | 1/11/28 | 2,400,000 | 2,595,804 | |||||||||||
|
|
|
|||||||||||||||
| Total Mexico |
4,988,304 | |||||||||||||||
|
|
|
|||||||||||||||
| Nigeria - 0.5% |
||||||||||||||||
| Nigeria Government International Bond, Senior Notes |
7.875 | % | 2/16/32 | 2,200,000 | 2,238,676 | (c) | ||||||||||
|
|
|
|||||||||||||||
| Oman - 0.2% |
||||||||||||||||
| Oman Government International Bond, Senior Notes |
5.625 | % | 1/17/28 | 1,000,000 | 979,520 | (a) | ||||||||||
|
|
|
|||||||||||||||
See Notes to Schedule of Investments.
|
18 |
Western Asset Global High Income Fund Inc. 2020 Quarterly Report |
WESTERN ASSET GLOBAL HIGH INCOME FUND INC.
| Schedule of investments (unaudited) (cont’d) | August 31, 2020 |