The Fund will conduct a tender offer for up to 100% of the Fund’s outstanding shares of common stock (“Shares”) at a price per share equal to 100% of the Fund’s net asset value per Share on the day on which the tender offer expires (the “Tender Offer”). 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.
If the Fund maintains at least $75 million of net assets following the Tender Offer, the Fund will change its name from “Western Asset High Yield Defined Opportunity Fund Inc.” to “Western Asset High Yield Opportunity Fund Inc.” The Fund’s ticker symbol will remain “HYI”. The Fund’s CUSIP, 95768B107, will not change.
If 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