0001752724-22-269755.txt : 20221128 0001752724-22-269755.hdr.sgml : 20221128 20221128123849 ACCESSION NUMBER: 0001752724-22-269755 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20220930 FILED AS OF DATE: 20221128 DATE AS OF CHANGE: 20221128 PERIOD START: 20221231 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WESTERN ASSET EMERGING MARKETS DEBT FUND INC. CENTRAL INDEX KEY: 0001227862 IRS NUMBER: 000000000 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-21343 FILM NUMBER: 221423067 BUSINESS ADDRESS: STREET 1: 620 EIGHTH AVENUE STREET 2: 47TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10018 BUSINESS PHONE: 8887770102 MAIL ADDRESS: STREET 1: 620 EIGHTH AVENUE STREET 2: 47TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10018 FORMER COMPANY: FORMER CONFORMED NAME: SALOMON BROTHERS EMERGING MARKETS DEBT FUND INC DATE OF NAME CHANGE: 20031003 FORMER COMPANY: FORMER CONFORMED NAME: SALOMON BROTHERS FIXED INCOME STRATEGIC FUND INC DATE OF NAME CHANGE: 20030417 NPORT-P 1 primary_doc.xml NPORT-P false 0001227862 XXXXXXXX Western Asset Emerging Markets Debt Fund Inc. 811-21343 0001227862 549300F68574RU1BKP84 620 Eighth Avenue 47th Floor New York 10018 1-888-777-0102 Western Asset Emerging Markets Debt Fund Inc. 549300F68574RU1BKP84 2022-12-31 2022-09-30 N 818570811.19 257853744.42 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POWER CO 988400QG33WS7JEIV602 Korea Electric Power Corp 500631AX4 800000.00000000 PA USD 800459.25000000 0.142756355644 Long DBT NUSS KR N 2 2026-04-06 Fixed 5.37500000 N N N N N N OMAN GOV INTERNTL BOND 549300SZ20F0QTKNQC75 Oman Government International Bond 682051AH0 9000000.00000000 PA USD 8388504.00000000 1.496031509852 Long DBT NUSS OM N 2 2028-01-17 Fixed 5.62500000 N N N N N N ICICI BANK LTD/DUBAI R7RX8ER1V4666J8D1I38 ICICI Bank Ltd/Dubai 45112FAJ5 3000000.00000000 PA USD 2860673.88000000 0.510181346267 Long DBT CORP IN N 2 2026-03-18 Fixed 4.00000000 N N N N N N SHINHAN BANK 5493003P813VL21KG928 Shinhan Bank Co Ltd 82460CAJ3 1260000.00000000 PA USD 1191729.65000000 0.212536717825 Long DBT CORP KR N 2 2026-03-24 Fixed 3.87500000 N N N N N N PARK AEROSPACE HOLDINGS 635400CPI3EOIFF6OC33 Park Aerospace Holdings Ltd 70014LAB6 1980000.00000000 PA USD 1939680.35000000 0.345928537751 Long DBT CORP KY N 2 2024-02-15 Fixed 5.50000000 N N N N N N GOHL CAPITAL LTD 254900TF7OK6KSDZA888 Gohl Capital Ltd 000000000 3130000.00000000 PA USD 2618977.45000000 0.467076464265 Long DBT CORP IM N 2 2027-01-24 Fixed 4.25000000 N N N N N N SUZANO AUSTRIA GMBH 254900287ZNSGVP1R341 Suzano Austria GmbH 05674XAA9 3450000.00000000 PA USD 3368114.25000000 0.600679816899 Long DBT CORP AT N 2 2026-07-14 Fixed 5.75000000 N N N N N N TUNISIAN REPUBLIC N/A Tunisian Republic 000000000 3760000.00000000 PA USD 2260192.40000000 0.403089638954 Long DBT NUSS TN N 2 2025-01-30 Fixed 5.75000000 N N N N N N TRANSPORT DE GAS PERU 529900SKHHNI5HVI0Y66 Transportadora de Gas del Peru SA 000000000 1080000.00000000 PA USD 1015475.40000000 0.181102994750 Long DBT CORP PE N 2 2028-04-30 Fixed 4.25000000 N N N N N N CNTL AMR BOTTLING CORP N/A Central American Bottling Corp / CBC Bottling Holdco SL / Beliv Holdco SL 15239XAA6 4150000.00000000 PA USD 3605665.25000000 0.643045390212 Long DBT CORP VG N 2 2029-04-27 Fixed 5.25000000 N N N N N N REPUBLIC OF VENEZUELA 529900XM8PJTJK5OJI77 Venezuela Government International Bond 922646AS3 4205000.00000000 PA USD 338502.50000000 0.060369573187 Long DBT NUSS VE N 2 2027-09-15 Fixed 9.25000000 Y Y N N N N REPUBLIC OF NIGERIA 549300GSBZD84TNEQ285 Nigeria Government International Bond 000000000 6700000.00000000 PA USD 4455835.00000000 0.794667268764 Long DBT NUSS NG N 2 2028-09-28 Fixed 6.12500000 N N N N N N REPUBLIC OF ANGOLA 549300QHR2R3J8JSGK83 Angolan Government International Bond 000000000 9650000.00000000 PA USD 7631992.00000000 1.361112841448 Long DBT NUSS AO N 2 2028-05-09 Fixed 8.25000000 N N N N N N OMAN GOV INTERNTL BOND 549300SZ20F0QTKNQC75 Oman Government International Bond 000000000 3200000.00000000 PA USD 2989968.00000000 0.533240055849 Long DBT NUSS OM N 2 2026-06-15 Fixed 4.75000000 N N N N N N REPUBLIC OF KENYA 549300VVURQQYU45PR87 Republic of Kenya Government International Bond 000000000 4400000.00000000 PA USD 3218974.00000000 0.574081687675 Long DBT NUSS KE N 2 2028-02-28 Fixed 7.25000000 N N N N N N YUZHOU GROUP 213800MP59KHGJSPHE82 Yuzhou Group Holdings Co Ltd 000000000 1000000.00000000 PA USD 69950.00000000 0.012475097361 Long DBT CORP KY N 2 2026-01-13 Fixed 7.37500000 Y N N N N N Citibank, National Association E57ODZWZ7FF32TWEFA76 MXN/USD FORWARD 000000000 1.00000000 NC USD 14396.05000000 0.002567435673 N/A DFE CORP US N 2 Citibank, National Association E57ODZWZ7FF32TWEFA76 -722700.25000000 USD 14883000.00000000 MXN 2022-10-14 14396.05000000 N N N HSBC HOLDINGS PLC MLU0ZO3ML4LN2LL2TL39 HSBC Holdings PLC 404280CN7 970000.00000000 PA USD 675111.27000000 0.120401412764 Long DBT CORP GB N 2 N/A Fixed 4.60000000 N N N N N N REPUBLIC OF ARGENTINA 549300KPBYGYF7HCHO27 Argentine Republic Government International Bond 040114HS2 25413747.50000000 PA USD 5133106.59000000 0.915453959618 Long DBT NUSS AR N 2 2030-07-09 Variable 0.50000000 N N N N N N TENGIZCHEVROIL FIN CO IN 5493001VEV2XTJIBZH31 Tengizchevroil Finance Co International Ltd 000000000 6000000.00000000 PA USD 5029008.00000000 0.896888698068 Long DBT CORP BM N 2 2026-08-15 Fixed 4.00000000 N N N N N N SINGAPORE AIRLINES LTD 549300ZG62N2599PWR15 Singapore Airlines Ltd 000000000 4000000.00000000 PA USD 3489860.00000000 0.622392327043 Long DBT CORP SG N 2 2029-01-19 Fixed 3.37500000 N N N N N N BOARD OF TRADE OF THE CITY OF CHICAGO, INC. 549300EX04Q2QBFQTQ27 CBOT US LONG BOND 000000000 -401.00000000 NC USD 4330732.13000000 0.772356039552 N/A DIR CORP US N 1 BOARD OF TRADE OF THE CITY OF CHICAGO, INC. 549300EX04Q2QBFQTQ27 Short US TREASURY N/B United States Treasury Note/Bond 2022-12-20 -55019638.38000000 USD 4330732.13000000 N N N BANCO NAL COSTA RICA 549300BH267R4KQVKV59 Banco Nacional de Costa Rica 059613AB5 1220000.00000000 PA USD 1228692.50000000 0.219128785766 Long DBT CORP CR N 2 2023-11-01 Fixed 6.25000000 N N N N N N REPUBLIC OF RWANDA 213800DQC28OBRZDYJ87 Rwanda International Government Bond 78347YAL7 4050000.00000000 PA USD 2961918.90000000 0.528237693398 Long DBT NUSS RW N 2 2031-08-09 Fixed 5.50000000 N N N N N N YPF SOCIEDAD ANONIMA 5493003N7447U18U5U53 YPF SA 984245AQ3 1320000.00000000 PA USD 774661.80000000 0.138155559355 Long DBT CORP AR N 2 2027-07-21 Fixed 6.95000000 N N N N N N REPUBLIC OF COLOMBIA 549300MHDRBVRF6B9117 Colombia Government International Bond 195325BK0 16567000.00000000 PA USD 14398981.25000000 2.567958441669 Long DBT NUSS CO N 2 2037-09-18 Fixed 7.37500000 N N N N N N STATE OF ISRAEL 213800T8ZHTFZIBYPE21 Israel Government International Bond 46513JB42 1500000.00000000 PA USD 1214377.50000000 0.216575804798 Long DBT NUSS IL N 2 2050-07-03 Fixed 3.87500000 N N N N N N MILLICOM INTL CELLULAR 549300CTHC1CP86P2G96 Millicom International Cellular SA 600814AN7 2385000.00000000 PA USD 1990968.57000000 0.355075436078 Long DBT CORP LU N 2 2028-01-15 Fixed 5.12500000 N N N N N N INTL FINANCE CORP QKL54NQY28TCDAI75F60 International Finance Corp 000000000 7915000.00000000 PA 1417482.88000000 0.252798240682 Long DBT NUSS N/A N 2 2023-02-27 Fixed 4.00000000 N N N N N N EQUATE PETROCHEMICAL BV 635400Y3Z5R4NJSMQ630 Equate Petrochemical BV 29441WAC9 1300000.00000000 PA USD 1228509.10000000 0.219096077648 Long DBT CORP NL N 2 2026-11-03 Fixed 4.25000000 N N N N N N BANK LEUMI LE-ISRAEL 7JDSZWRGUQY2DSTWCR57 Bank Leumi Le-Israel BM 000000000 3300000.00000000 PA USD 3245975.70000000 0.578897253600 Long DBT CORP IL N 2 2027-07-27 Fixed 5.12500000 N N N N N N YUZHOU GROUP 213800MP59KHGJSPHE82 Yuzhou Group Holdings Co Ltd 000000000 2000000.00000000 PA USD 137440.00000000 0.024511470783 Long DBT CORP KY N 2 2024-10-30 Fixed 8.37500000 Y N N N N N Citibank, National Association E57ODZWZ7FF32TWEFA76 IDR/USD FORWARD 000000000 1.00000000 NC USD -183870.61000000 -0.03279204805 N/A DFE CORP US N 2 Citibank, National Association E57ODZWZ7FF32TWEFA76 -17317154.70000000 USD 261038790000.00000000 IDR 2022-10-18 -183870.61000000 N N N UNITED OVERSEAS BANK LTD IO66REGK3RCBAMA8HR66 United Overseas Bank Ltd 91127KAC6 2600000.00000000 PA USD 2532829.05000000 0.451712494608 Long DBT CORP SG N 2 2029-04-15 Fixed 3.75000000 N N N N N N KINGDOM OF BAHRAIN 549300RODM1WN85LFQ95 Bahrain Government International Bond 05674RAD6 6000000.00000000 PA USD 4176264.00000000 0.744807719882 Long DBT NUSS BH N 2 2044-09-19 Fixed 6.00000000 N N N N N N ECOPETROL SA 254900IDGKCJICKBPA66 Ecopetrol SA 279158AC3 3010000.00000000 PA USD 2991232.65000000 0.533465597405 Long DBT CORP CO N 2 2023-09-18 Fixed 5.87500000 N N N N N N SOCIALIST REP OF VIETNAM 5493008AE7RS4XK4BZ08 Vietnam Government International Bond 92671CAA6 8700000.00000000 PA USD 8620609.28000000 1.537425876772 Long DBT NUSS VN N 2 2024-11-19 Fixed 4.80000000 N N N N N N TRANSPRTDRA DE GAS INTL 529900780HCVLCEM2440 Transportadora de Gas Internacional SA ESP 89387YAC5 2300000.00000000 PA USD 2057994.00000000 0.367028956663 Long DBT CORP CO N 2 2028-11-01 Fixed 5.55000000 N N N N N N PETROLEOS MEXICANOS 549300CAZKPF4HKMPX17 Petroleos Mexicanos 71654QCK6 15500000.00000000 PA USD 11817200.00000000 2.107515661699 Long DBT CORP MX N 2 2028-02-12 Fixed 5.35000000 N N N N N N KAZMUNAYGAS NATIONAL CO 2138001H1M69RFJCSH88 KazMunayGas National Co JSC 48667QAS4 5300000.00000000 PA USD 3719412.80000000 0.663331476857 Long DBT CORP KZ N 2 2048-10-24 Fixed 6.37500000 N N N N N N CHINA AOYUAN GROUP LTD 549300YSOKQO5QD6MP25 China Aoyuan Group Ltd 000000000 2000000.00000000 PA USD 145000.00000000 0.025859744351 Long DBT CORP KY N 2 2024-06-21 Fixed 7.95000000 Y N N N N N MELCO RESORTS FINANCE N/A Melco Resorts Finance Ltd 58547DAD1 4670000.00000000 PA USD 2846365.00000000 0.507629456759 Long DBT CORP KY N 2 2029-12-04 Fixed 5.37500000 N N N N N N REPUBLIC OF VENEZUELA 529900XM8PJTJK5OJI77 Venezuela Government International Bond 000000000 22130000.00000000 PA USD 1549100.00000000 0.276271241202 Long DBT NUSS VE N 2 2019-10-13 Fixed 7.75000000 Y N N N N N Citibank, National Association E57ODZWZ7FF32TWEFA76 IDR/USD FORWARD 000000000 1.00000000 NC USD 143755.42000000 0.025637782139 N/A DFE CORP US N 2 Citibank, National Association E57ODZWZ7FF32TWEFA76 -261038790000.00000000 IDR 17277039.51000000 USD 2022-10-18 143755.42000000 N N N REPUBLIC OF ARMENIA 5299000H77JSW90G7935 Republic of Armenia International Bond 042207AD2 3000000.00000000 PA USD 2043300.00000000 0.364408383673 Long DBT NUSS AM N 2 2031-02-02 Fixed 3.60000000 N N N N N N KALLPA GENERACION SA 549300NG1PWEI5BZG095 Kallpa Generacion SA 000000000 2270000.00000000 PA USD 2104562.65000000 0.375334152413 Long DBT CORP PE N 2 2026-05-24 Fixed 4.87500000 N N N N N N SANDS CHINA LTD 549300EVO6UZDGY05787 Sands China Ltd 80007RAF2 1700000.00000000 PA USD 1542784.00000000 0.275144826407 Long DBT CORP KY N 2 2025-08-08 Variable 5.62500000 N N N N N N UBS GROUP AG 549300SZJ9VS8SGXAN81 UBS Group AG 90352JAF0 2340000.00000000 PA USD 2219958.00000000 0.395914112760 Long DBT CORP CH N 2 N/A Fixed 7.00000000 N N N N N N STATE OF QATAR 52990074F6OJOAXK4P65 Qatar Government International Bond 74727PBB6 14100000.00000000 PA USD 13083615.60000000 2.333372100722 Long DBT NUSS QA N 2 2049-03-14 Fixed 4.81700000 N N N N N N ITAU UNIBANCO HLDG SA/KY 5493002W2IVG62O3ZJ94 Itau Unibanco Holding SA/Cayman Island 46556UAC8 5970000.00000000 PA USD 5427356.85000000 0.967931452713 Long DBT CORP BR N 2 N/A Fixed 6.50000000 N N N N N N 2022-11-23 Western Asset Emerging Markets Debt Fund Inc. Christopher Berarducci Christopher Berarducci Principal Financial Officer XXXX NPORT-EX 2 LMF2500LEGG09302022.htm HTML

WESTERN ASSET EMERGING MARKETS DEBT FUND INC.

 

Schedule of investments (unaudited)    September 30, 2022

(Percentages shown based on Fund net assets)

 

SECURITY

   RATE     MATURITY
DATE
     FACE
AMOUNT†
    VALUE  
SOVEREIGN BONDS - 82.0%          

Angola - 1.7%

         

Angolan Government International Bond, Senior Notes

     8.250     5/9/28        9,650,000     $ 7,631,992 (a) 

Angolan Government International Bond, Senior Notes

     9.125     11/26/49        3,000,000       2,029,830 (a)  
         

 

 

 

Total Angola

            9,661,822  
         

 

 

 

Argentina - 4.0%

         

Argentine Bonos del Tesoro, Bonds

     16.000     10/17/23        82,130,000 ARS      150,039  

Argentine Bonos del Tesoro, Bonds

     15.500     10/17/26        157,160,000 ARS      118,049  

Argentine Republic Government International Bond, Senior Notes

     1.000     7/9/29        1,036,761       200,680  

Argentine Republic Government International Bond, Senior Notes, Step bond (0.500% to 7/9/23 then 0.750%)

     0.500     7/9/30        25,413,747       5,133,107  

Ciudad Autonoma De Buenos Aires, Senior Notes

     7.500     6/1/27        5,500,000       4,802,215 (b)  

Provincia de Buenos Aires, Senior Notes, Step bond (5.250% to 9/1/23 then 6.375%)

     5.250     9/1/37        16,301,128       5,114,479 (b)  

Provincia de Cordoba, Senior Notes

     6.875     12/10/25        508,945       388,325 (b)  

Provincia de Cordoba, Senior Notes

     6.990     6/1/27        9,949,022       6,382,298 (b)  
         

 

 

 

Total Argentina

            22,289,192  
         

 

 

 

Armenia - 0.9%

         

Republic of Armenia International Bond, Senior Notes

     3.950     9/26/29        4,000,000       2,852,560 (b)  

Republic of Armenia International Bond, Senior Notes

     3.600     2/2/31        3,000,000       2,043,300 (b)  
         

 

 

 

Total Armenia

            4,895,860  
         

 

 

 

Bahamas - 1.4%

         

Bahamas Government International Bond, Senior Notes

     5.750     1/16/24        4,170,000       3,450,345 (b)  

Bahamas Government International Bond, Senior Notes

     9.000     6/16/29        3,830,000       2,676,055 (b)  

Bahamas Government International Bond, Senior Notes

     6.950     11/20/29        3,000,000       1,710,000 (b)  
         

 

 

 

Total Bahamas

            7,836,400  
         

 

 

 

 

See Notes to Schedule of Investments.

 

 

Western Asset Emerging Markets Debt Fund Inc. 2022 Quarterly Report    

 

 

 

1


WESTERN ASSET EMERGING MARKETS DEBT FUND INC.

 

Schedule of investments (unaudited) (cont’d)    September 30, 2022

(Percentages shown based on Fund net assets)

 

SECURITY

   RATE     MATURITY
DATE
     FACE
AMOUNT†
    VALUE  

Bahrain - 3.6%

         

Bahrain Government International Bond, Senior Notes

     7.000     10/12/28        2,000,000     $ 1,924,250 (a) 

Bahrain Government International Bond, Senior Notes

     5.625     9/30/31        10,000,000       8,212,480 (a) 

Bahrain Government International Bond, Senior Notes

     6.000     9/19/44        6,000,000       4,176,264 (b)  

Bahrain Government International Bond, Senior Notes

     7.500     9/20/47        7,400,000       5,898,237 (b)  
         

 

 

 

Total Bahrain

            20,211,231  
         

 

 

 

Brazil - 0.3%

         

Brazil Letras do Tesouro Nacional

     0.000     1/1/24        9,500,000 BRL      1,516,256  
         

 

 

 

Chile - 0.1%

         

Chile Government International Bond, Senior Notes

     3.100     1/22/61        1,000,000       581,915 (c)  
         

 

 

 

Colombia - 2.6%

         

Colombia Government International Bond, Senior Notes

     7.375     9/18/37        16,567,000       14,398,981 (c) 
         

 

 

 

Costa Rica - 1.0%

         

Banco Nacional de Costa Rica

     6.250     11/1/23        1,220,000       1,228,692 (b)(c) 

Costa Rica Government International Bond, Senior Notes

     6.125     2/19/31        1,050,000       965,571 (a)  

Costa Rica Government International Bond, Senior Notes

     7.158     3/12/45        4,200,000       3,558,151 (b)(c) 
         

 

 

 

Total Costa Rica

            5,752,414  
         

 

 

 

Croatia - 1.0%

         

Croatia Government International Bond, Senior Notes

     5.500     4/4/23        5,640,000       5,646,401 (a)  
         

 

 

 

Dominican Republic - 3.9%

         

Dominican Republic International Bond, Senior Notes

     5.500     1/27/25        4,000,000       3,891,478 (b)(c) 

Dominican Republic International Bond, Senior Notes

     6.000     7/19/28        7,300,000       6,650,436 (b)(c) 

Dominican Republic International Bond, Senior Notes

     5.500     2/22/29        3,750,000       3,241,861 (b)  

Dominican Republic International Bond, Senior Notes

     4.875     9/23/32        3,800,000       2,871,294 (a)(c) 

Dominican Republic International Bond, Senior Notes

     5.300     1/21/41        8,000,000       5,435,906 (a)  
         

 

 

 

Total Dominican Republic

            22,090,975  
         

 

 

 

 

See Notes to Schedule of Investments.

 

 

 

2

 

    Western Asset Emerging Markets Debt Fund Inc. 2022 Quarterly Report

 


WESTERN ASSET EMERGING MARKETS DEBT FUND INC.

 

Schedule of investments (unaudited) (cont’d)    September 30, 2022

(Percentages shown based on Fund net assets)

 

SECURITY

   RATE     MATURITY
DATE
     FACE
AMOUNT†
    VALUE  

Ecuador - 1.4%

         

Ecuador Government International Bond, Senior Notes

     0.000     7/31/30        1,010,709     $ 294,959 (b)  

Ecuador Government International Bond, Senior Notes, Step bond (5.500% to 7/31/23 then 6.000%)

     5.500     7/31/30        4,850,000       2,319,835 (b) 

Ecuador Government International Bond, Senior Notes, Step bond (1.500% to 7/31/23 then 2.500%)

     1.500     7/31/40        16,750,000       4,983,125 (b)  
         

 

 

 

Total Ecuador

            7,597,919  
         

 

 

 

Egypt - 2.5%

         

Egypt Government Bond

     14.138     10/20/22        21,100,000 EGP      1,080,207  

Egypt Government International Bond, Senior Notes

     5.875     2/16/31        3,000,000       1,751,697 (a)  

Egypt Government International Bond, Senior Notes

     7.625     5/29/32        1,600,000       969,360 (b)  

Egypt Government International Bond, Senior Notes

     7.903     2/21/48        19,200,000       10,084,992 (a) 
         

 

 

 

Total Egypt

            13,886,256  
         

 

 

 

Ethiopia - 0.2%

         

Ethiopia International Bond, Senior Notes

     6.625     12/11/24        2,500,000       1,277,650 (a)  
         

 

 

 

Gabon - 0.9%

         

Gabon Government International Bond, Senior Notes

     6.625     2/6/31        3,000,000       1,981,410 (a)  

Gabon Government International Bond, Senior Notes

     7.000     11/24/31        4,300,000       2,848,277 (b)  
         

 

 

 

Total Gabon

            4,829,687  
         

 

 

 

Ghana - 1.4%

         

Ghana Government International Bond, Senior Notes

     7.625     5/16/29        5,700,000       2,194,500 (a)  

Ghana Government International Bond, Senior Notes

     10.750     10/14/30        7,600,000       5,540,400 (b)(c) 
         

 

 

 

Total Ghana

            7,734,900  
         

 

 

 

Guatemala - 1.4%

         

Guatemala Government Bond, Senior Notes

     5.375     4/24/32        6,800,000       5,938,508 (b)(c) 

Guatemala Government Bond, Senior Notes

     4.650     10/7/41        3,060,000       2,158,145 (b)(c) 
         

 

 

 

Total Guatemala

            8,096,653  
         

 

 

 

Hungary - 2.2%

         

Hungary Government International Bond, Senior Notes

     5.750     11/22/23        12,608,000       12,539,362 (c) 
         

 

 

 

 

See Notes to Schedule of Investments.

 

 

Western Asset Emerging Markets Debt Fund Inc. 2022 Quarterly Report    

 

 

 

3


WESTERN ASSET EMERGING MARKETS DEBT FUND INC.

 

Schedule of investments (unaudited) (cont’d)    September 30, 2022

(Percentages shown based on Fund net assets)

 

SECURITY

   RATE     MATURITY
DATE
     FACE
AMOUNT†
    VALUE  

India - 0.3%

         

Export-Import Bank of India, Senior Notes

     3.375     8/5/26        2,000,000     $ 1,853,977 (a)(c) 
         

 

 

 

Indonesia - 6.3%

         

Indonesia Government International Bond, Senior Notes

     6.625     2/17/37        3,210,000       3,329,577 (a)(c) 

Indonesia Government International Bond, Senior Notes

     5.250     1/17/42        17,000,000       15,433,620 (b)(c) 

Indonesia Treasury Bond

     8.375     9/15/26        131,422,000,000 IDR      9,069,089  

Indonesia Treasury Bond

     8.375     3/15/34        106,475,000,000 IDR      7,432,098  
         

 

 

 

Total Indonesia

            35,264,384  
         

 

 

 

Israel - 0.2%

         

Israel Government International Bond, Senior Notes

     3.875     7/3/50        1,500,000       1,214,378  
         

 

 

 

Ivory Coast - 1.8%

         

Ivory Coast Government International Bond, Senior Notes

     5.375     7/23/24        1,350,000       1,222,249 (b)(c) 

Ivory Coast Government International Bond, Senior Notes

     6.375     3/3/28        2,680,000       2,403,156 (b)(c) 

Ivory Coast Government International Bond, Senior Notes

     5.250     3/22/30        4,800,000 EUR       3,453,256 (a)  

Ivory Coast Government International Bond, Senior Notes

     6.125     6/15/33        3,540,000       2,708,100 (b)  
         

 

 

 

Total Ivory Coast

            9,786,761  
         

 

 

 

Jamaica - 1.0%

         

Jamaica Government International Bond, Senior Notes

     6.750     4/28/28        1,390,000       1,446,792  

Jamaica Government International Bond, Senior Notes

     8.000     3/15/39        1,760,000       1,933,259  

Jamaica Government International Bond, Senior Notes

     7.875     7/28/45        2,000,000       2,161,935 (c)  
         

 

 

 

Total Jamaica

            5,541,986  
         

 

 

 

Jordan - 1.3%

         

Jordan Government International Bond, Senior Notes

     6.125     1/29/26        440,000       414,295 (b)  

Jordan Government International Bond, Senior Notes

     7.750     1/15/28        1,900,000       1,800,250 (b)  

 

See Notes to Schedule of Investments.

 

 

 

4

 

    Western Asset Emerging Markets Debt Fund Inc. 2022 Quarterly Report

 


WESTERN ASSET EMERGING MARKETS DEBT FUND INC.

 

Schedule of investments (unaudited) (cont’d)    September 30, 2022

(Percentages shown based on Fund net assets)

 

SECURITY

   RATE     MATURITY
DATE
     FACE
AMOUNT†
    VALUE  

Jordan - (continued)

         

Jordan Government International Bond, Senior Notes

     5.850     7/7/30        2,000,000     $ 1,632,696 (a) 

Jordan Government International Bond, Senior Notes

     7.375     10/10/47        5,020,000       3,682,170 (b)  
         

 

 

 

Total Jordan

            7,529,411  
         

 

 

 

Kazakhstan - 2.5%

         

Kazakhstan Government International Bond, Senior Notes

     3.875     10/14/24        9,000,000       8,999,910 (a)  

Tengizchevroil Finance Co. International Ltd., Senior Secured Notes

     4.000     8/15/26        6,000,000       5,029,008 (a)  
         

 

 

 

Total Kazakhstan

            14,028,918  
         

 

 

 

Kenya - 1.4%

         

Republic of Kenya Government International Bond, Senior Notes

     6.875     6/24/24        2,000,000       1,707,730 (a)  

Republic of Kenya Government International Bond, Senior Notes

     6.875     6/24/24        200,000       170,773 (b)(c)  

Republic of Kenya Government International Bond, Senior Notes

     7.250     2/28/28        4,400,000       3,218,974 (a)  

Republic of Kenya Government International Bond, Senior Notes

     8.000     5/22/32        4,400,000       2,995,960 (a)  
         

 

 

 

Total Kenya

            8,093,437  
         

 

 

 

Mexico - 1.3%

         

Mexican Bonos, Senior Notes

     7.750     11/23/34        168,080,000 MXN      7,203,417  
         

 

 

 

Nigeria - 1.8%

         

Nigeria Government International Bond, Senior Notes

     6.125     9/28/28        6,700,000       4,455,835 (a)  

Nigeria Government International Bond, Senior Notes

     7.875     2/16/32        2,600,000       1,680,588 (a)  

Nigeria Government International Bond, Senior Notes

     7.696     2/23/38        6,800,000       3,982,148 (a)  
         

 

 

 

Total Nigeria

            10,118,571  
         

 

 

 

Oman - 4.8%

         

Oman Government International Bond, Senior Notes

     4.750     6/15/26        3,200,000       2,989,968 (a)  

Oman Government International Bond, Senior Notes

     4.750     6/15/26        5,270,000       4,924,104 (b)  

Oman Government International Bond, Senior Notes

     5.625     1/17/28        9,000,000       8,388,504 (b)  

 

See Notes to Schedule of Investments.

 

 

Western Asset Emerging Markets Debt Fund Inc. 2022 Quarterly Report    

 

 

 

5


WESTERN ASSET EMERGING MARKETS DEBT FUND INC.

 

Schedule of investments (unaudited) (cont’d)    September 30, 2022

(Percentages shown based on Fund net assets)

 

SECURITY

   RATE     MATURITY
DATE
     FACE
AMOUNT†
     VALUE  

Oman - (continued)

          

Oman Government International Bond, Senior Notes

     6.000     8/1/29        6,000,000      $ 5,603,988 (b) 

Oman Government International Bond, Senior Notes

     6.750     1/17/48        6,500,000        5,233,371 (a)  
          

 

 

 

Total Oman

             27,139,935  
          

 

 

 

Panama - 0.7%

          

Panama Government International Bond, Senior Notes

     9.375     4/1/29        910,000        1,060,464 (c)  

Panama Government International Bond, Senior Notes

     6.700     1/26/36        159,000        156,874  

Panama Government International Bond, Senior Notes

     4.500     1/19/63        4,200,000        2,785,609  
          

 

 

 

Total Panama

             4,002,947  
          

 

 

 

Paraguay - 1.3%

          

Paraguay Government International Bond, Senior Notes

     5.000     4/15/26        2,110,000        2,038,957 (b)(c) 

Paraguay Government International Bond, Senior Notes

     4.950     4/28/31        3,950,000        3,529,101 (b)(c) 

Paraguay Government International Bond, Senior Notes

     5.400     3/30/50        1,910,000        1,411,381 (b)(c) 
          

 

 

 

Total Paraguay

             6,979,439  
          

 

 

 

Peru - 6.2%

          

Peruvian Government International Bond, Senior Notes

     7.350     7/21/25        10,300,000        10,832,122 (c) 

Peruvian Government International Bond, Senior Notes

     8.750     11/21/33        19,998,000        24,155,754 (c) 
          

 

 

 

Total Peru

             34,987,876  
          

 

 

 

Philippines - 0.3%

          

Philippine Government International Bond, Senior Notes

     3.950     1/20/40        2,000,000        1,593,390 (c)  
          

 

 

 

Qatar - 4.2%

          

Qatar Government International Bond, Senior Notes

     5.103     4/23/48        7,920,000        7,692,221 (b)(c) 

Qatar Government International Bond, Senior Notes

     4.817     3/14/49        14,100,000        13,083,616 (b)(c) 

Qatar Government International Bond, Senior Notes

     4.400     4/16/50        2,900,000        2,557,736 (b)(c) 
          

 

 

 

Total Qatar

             23,333,573  
          

 

 

 

 

See Notes to Schedule of Investments.

 

 

 

6

 

    Western Asset Emerging Markets Debt Fund Inc. 2022 Quarterly Report

 


WESTERN ASSET EMERGING MARKETS DEBT FUND INC.

 

Schedule of investments (unaudited) (cont’d)    September 30, 2022

(Percentages shown based on Fund net assets)

 

SECURITY

   RATE     MATURITY
DATE
     FACE
AMOUNT†
    VALUE  

Romania - 0.3%

         

Romanian Government International Bond, Senior Notes

     4.875     1/22/24        1,570,000     $ 1,562,808 (b)(c) 
         

 

 

 

Russia - 1.0%

         

Russian Federal Bond - OFZ

     7.000     1/25/23        280,000,000 RUB      1,534,884 *(d) 

Russian Federal Bond - OFZ

     8.150     2/3/27        289,580,000 RUB      1,587,398 *(d) 

Russian Federal Bond - OFZ

     7.250     5/10/34        400,000,000 RUB      2,192,691 *(d) 
         

 

 

 

Total Russia

            5,314,973  
         

 

 

 

Rwanda - 0.5%

         

Rwanda International Government Bond, Senior Notes

     5.500     8/9/31        4,050,000       2,961,919 (b)  
         

 

 

 

Senegal - 1.3%

         

Senegal Government International Bond, Senior Notes

     6.250     7/30/24        2,170,000       2,041,731 (a)  

Senegal Government International Bond, Senior Notes

     6.750     3/13/48        8,390,000       5,255,161 (b)  
         

 

 

 

Total Senegal

            7,296,892  
         

 

 

 

South Africa - 1.2%

         

Republic of South Africa Government Bond, Senior Notes

     8.500     1/31/37        81,280,000 ZAR       3,469,219  

Republic of South Africa Government International Bond, Senior Notes

     5.000     10/12/46        5,000,000       3,060,250 (c)  
         

 

 

 

Total South Africa

            6,529,469  
         

 

 

 

South Korea - 0.1%

         

Korea Electric Power Corp., Senior Notes

     5.375     4/6/26        800,000       800,459 (b)  
         

 

 

 

Supranational - 3.7%

         

European Bank for Reconstruction and Development, Senior Notes

     6.450     12/13/22        134,803,200,000 IDR      8,858,192  

Inter-American Development Bank, Senior Notes

     7.875     3/14/23        56,960,000,000 IDR      3,760,987  

International Finance Corp., Senior Notes

     4.000     2/27/23        7,915,000 BRL       1,417,483  

International Finance Corp., Senior Notes

     6.280     5/27/24        304,000,000 UYU       6,728,087  
         

 

 

 

Total Supranational

            20,764,749  
         

 

 

 

Tunisia - 0.4%

         

Banque Centrale de Tunisie International Bond, Senior Notes

     5.750     1/30/25        3,760,000       2,260,192 (a)  
         

 

 

 

 

See Notes to Schedule of Investments.

 

 

Western Asset Emerging Markets Debt Fund Inc. 2022 Quarterly Report    

 

 

 

7


WESTERN ASSET EMERGING MARKETS DEBT FUND INC.

 

Schedule of investments (unaudited) (cont’d)    September 30, 2022

(Percentages shown based on Fund net assets)

 

SECURITY

   RATE     MATURITY
DATE
     FACE
AMOUNT†
    VALUE  

Turkey - 1.2%

         

Turkey Government International Bond, Senior Notes

     5.125     2/17/28        4,000,000     $ 3,118,160  

Turkey Government International Bond, Senior Notes

     4.875     4/16/43        6,160,000       3,494,568  
         

 

 

 

Total Turkey

            6,612,728  
         

 

 

 

Ukraine - 1.0%

         

Ukraine Government International Bond, Senior Notes

     6.750     6/20/28        1,700,000 EUR      326,586 (a)  

Ukraine Government International Bond, Senior Notes

     7.750     9/1/29        8,800,000       1,872,490 (a) 

Ukraine Government International Bond, Senior Notes

     9.750     11/1/30        15,080,000       3,298,509 (a) 
         

 

 

 

Total Ukraine

            5,497,585  
         

 

 

 

United Arab Emirates - 1.3%

         

Abu Dhabi Government International Bond, Senior Notes

     4.125     10/11/47        5,400,000       4,610,698 (b)(c) 

Finance Department Government of Sharjah, Senior Notes

     4.000     7/28/50        4,430,000       2,632,895 (b)(c) 
         

 

 

 

Total United Arab Emirates

            7,243,593  
         

 

 

 

Uruguay - 1.4%

         

Uruguay Government International Bond, Senior Notes

     4.375     10/27/27        2,943,154       2,912,457  

Uruguay Government International Bond, Senior Notes

     5.100     6/18/50        4,341,000       3,986,261  

Uruguay Government International Bond, Senior Notes

     4.975     4/20/55        1,180,000       1,057,773  
         

 

 

 

Total Uruguay

            7,956,491  
         

 

 

 

Uzbekistan - 0.5%

         

Republic of Uzbekistan International Bond, Senior Notes

     3.700     11/25/30        4,000,000       2,869,820 (a) 
         

 

 

 

Venezuela - 0.4%

         

Venezuela Government International Bond, Senior Notes

     7.750     10/13/19        22,130,000       1,549,100 *(a)(e) 

Venezuela Government International Bond, Senior Notes

     8.250     10/13/24        7,000,000       525,000 *(a)(d) 

Venezuela Government International Bond, Senior Notes

     9.250     9/15/27        4,205,000       338,503 *(d) 
         

 

 

 

Total Venezuela

            2,412,603  
         

 

 

 

 

See Notes to Schedule of Investments.

 

 

 

8

 

    Western Asset Emerging Markets Debt Fund Inc. 2022 Quarterly Report

 


WESTERN ASSET EMERGING MARKETS DEBT FUND INC.

 

Schedule of investments (unaudited) (cont’d)    September 30, 2022

(Percentages shown based on Fund net assets)

 

SECURITY

   RATE     MATURITY
DATE
     FACE
AMOUNT†
     VALUE  

Vietnam - 1.5%

          

Vietnam Government International Bond, Senior Notes

     4.800     11/19/24        8,700,000      $ 8,620,609 (b)(c) 
          

 

 

 

Zambia - 0.3%

          

Zambia Government International Bond, Senior Notes

     8.500     4/14/24        3,440,000        1,665,940 (b)  
          

 

 

 

TOTAL SOVEREIGN BONDS

(Cost - $588,346,038)

 

 

          459,887,104  
          

 

 

 
CORPORATE BONDS & NOTES - 57.1%           
COMMUNICATION SERVICES - 3.4%           

Diversified Telecommunication Services - 1.4%

 

       

IHS Holding Ltd., Senior Notes

     5.625     11/29/26        4,340,000        3,455,725 (b)(c) 

Turk Telekomunikasyon AS, Senior Notes

     4.875     6/19/24        4,600,000        4,054,302 (a)  
          

 

 

 

Total Diversified Telecommunication Services

 

          7,510,027  
          

 

 

 

Media - 0.7%

          

Cable Onda SA, Senior Notes

     4.500     1/30/30        3,290,000        2,596,950 (b)(c) 

Grupo Televisa SAB, Senior Notes

     6.625     1/15/40        1,480,000        1,456,057 (c)  
          

 

 

 

Total Media

             4,053,007  
          

 

 

 

Wireless Telecommunication Services - 1.3%

 

       

Millicom International Cellular SA, Senior Notes

     5.125     1/15/28        2,385,000        1,990,968 (b)(c) 

Millicom International Cellular SA, Senior Notes

     6.250     3/25/29        4,239,000        3,604,761 (b)(c) 

VEON Holdings BV, Senior Notes

     3.375     11/25/27        1,000,000        516,250 (b)(c)  

VTR Comunicaciones SpA, Senior Secured Notes

     5.125     1/15/28        1,713,000        1,159,761 (b)(c) 
          

 

 

 

Total Wireless Telecommunication Services

 

          7,271,740  
          

 

 

 

TOTAL COMMUNICATION SERVICES

             18,834,774  
          

 

 

 
CONSUMER DISCRETIONARY - 2.1%           

Hotels, Restaurants & Leisure - 1.7%

          

Gohl Capital Ltd., Senior Notes

     4.250     1/24/27        3,130,000        2,618,977 (a)  

Melco Resorts Finance Ltd., Senior Notes

     5.375     12/4/29        4,670,000        2,846,365 (b)(c) 

Sands China Ltd., Senior Notes

     5.625     8/8/25        1,700,000        1,542,784  

Wynn Macau Ltd., Senior Notes

     5.625     8/26/28        3,300,000        2,204,598 (b)  
          

 

 

 

Total Hotels, Restaurants & Leisure

             9,212,724  
          

 

 

 

Internet & Direct Marketing Retail - 0.4%

          

Prosus NV, Senior Notes

     3.680     1/21/30        3,200,000        2,400,643 (a)(c) 
          

 

 

 

TOTAL CONSUMER DISCRETIONARY

             11,613,367  
          

 

 

 

 

See Notes to Schedule of Investments.

 

 

Western Asset Emerging Markets Debt Fund Inc. 2022 Quarterly Report    

 

 

 

9


WESTERN ASSET EMERGING MARKETS DEBT FUND INC.

 

Schedule of investments (unaudited) (cont’d)    September 30, 2022

(Percentages shown based on Fund net assets)

 

SECURITY

   RATE     MATURITY
DATE
     FACE
AMOUNT†
     VALUE  
CONSUMER STAPLES - 0.6%           

Beverages - 0.6%

          

Central American Bottling Corp./CBC Bottling Holdco SL/Beliv Holdco SL, Senior Notes

     5.250     4/27/29        4,150,000      $ 3,605,665 (b)(c) 
          

 

 

 
ENERGY - 17.4%           

Oil, Gas & Consumable Fuels - 17.4%

          

Ecopetrol SA, Senior Notes

     5.875     9/18/23        3,010,000        2,991,233 (c)  

Ecopetrol SA, Senior Notes

     5.875     5/28/45        7,160,000        4,346,693 (c)  

Empresa Generadora de Electricidad Haina SA, Senior Notes

     5.625     11/8/28        4,250,000        3,380,612 (b)(c) 

GNL Quintero SA, Senior Notes

     4.634     7/31/29        1,545,897        1,424,529 (b)(c) 

KazMunayGas National Co. JSC, Senior Notes

     3.500     4/14/33        11,000,000        7,280,460 (a)  

KazMunayGas National Co. JSC, Senior Notes

     6.375     10/24/48        5,300,000        3,719,413 (b)(c) 

Oleoducto Central SA, Senior Notes

     4.000     7/14/27        2,400,000        1,856,017 (b)(c) 

Pertamina Persero PT, Senior Notes

     6.500     5/27/41        3,500,000        3,247,921 (b)(c) 

Petrobras Global Finance BV, Senior Notes

     7.375     1/17/27        5,600,000        5,775,000 (c)  

Petrobras Global Finance BV, Senior Notes

     5.750     2/1/29        6,000,000        5,625,090 (c)  

Petrobras Global Finance BV, Senior Notes

     6.850     6/5/2115        13,800,000        10,794,183 (c) 

Petroleos de Venezuela SA, Senior Notes

     9.000     11/17/21        16,630,000        394,962 *(a)(e) 

Petroleos de Venezuela SA, Senior Notes

     6.000     5/16/24        8,145,000        193,444 *(a)(d) 

Petroleos del Peru SA, Senior Notes

     5.625     6/19/47        6,800,000        4,098,020 (a)(c) 

Petroleos Mexicanos, Senior Notes

     5.350     2/12/28        15,500,000        11,817,200 (c) 

Petroleos Mexicanos, Senior Notes

     6.500     6/2/41        8,200,000        4,766,783 (c)  

Petroleos Mexicanos, Senior Notes

     5.500     6/27/44        200,000        104,986 (c)  

Petronas Capital Ltd., Senior Notes

     4.800     4/21/60        7,000,000        6,413,406 (b)(c) 

Sinopec Group Overseas Development 2017 Ltd., Senior Notes

     4.000     9/13/47        5,060,000        4,132,508 (a)  

Transportadora de Gas del Peru SA, Senior Notes

     4.250     4/30/28        1,080,000        1,015,475 (a)  

Transportadora de Gas del Peru SA, Senior Notes

     4.250     4/30/28        3,620,000        3,403,723 (b)(c) 

Transportadora de Gas Internacional SA ESP, Senior Notes

     5.550     11/1/28        2,300,000        2,057,994 (b)(c) 

Ultrapar International SA, Senior Notes

     5.250     10/6/26        3,190,000        3,101,430 (b)(c) 

YPF SA, Senior Notes

     8.500     3/23/25        937,500        751,809 (a)  

 

See Notes to Schedule of Investments.

 

 

 

10

 

    Western Asset Emerging Markets Debt Fund Inc. 2022 Quarterly Report

 


WESTERN ASSET EMERGING MARKETS DEBT FUND INC.

 

Schedule of investments (unaudited) (cont’d)    September 30, 2022

(Percentages shown based on Fund net assets)

 

SECURITY

   RATE     MATURITY
DATE
     FACE
AMOUNT†
     VALUE  

Oil, Gas & Consumable Fuels - (continued)

          

YPF SA, Senior Notes

     8.500     7/28/25        5,430,000      $ 3,843,571 (b)(c) 

YPF SA, Senior Notes

     8.500     7/28/25        500,000        353,920 (a)(c)  

YPF SA, Senior Notes

     6.950     7/21/27        1,320,000        774,662 (b)  
          

 

 

 

TOTAL ENERGY

             97,665,044  
          

 

 

 
FINANCIALS - 11.5%           

Banks - 6.5%

          

Banco Bilbao Vizcaya Argentaria Colombia SA, Subordinated Notes

     4.875     4/21/25        2,450,000        2,312,282 (b)(c) 

Banco General SA, Junior Subordinated Notes (5.250% to 5/7/31 then 10 year Treasury Constant Maturity Rate + 3.665%)

     5.250     5/7/31        4,450,000        3,810,522 (b)(c)(f)(g) 

Banco Mercantil del Norte SA, Junior Subordinated Notes (7.625% to 1/10/28 then 10 year Treasury Constant Maturity Rate + 5.353%)

     7.625     1/10/28        5,900,000        5,246,664 (b)(c)(f)(g) 

Bank Leumi Le-Israel BM, Senior Notes

     5.125     7/27/27        3,300,000        3,245,976 (a)  

Bank Leumi Le-Israel BM, Subordinated Notes (3.275% to 1/29/26 then 5 year Treasury Constant Maturity Rate + 1.631%)

     3.275     1/29/31        1,200,000        1,026,750 (b)(g) 

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        980,000        937,755 (b)(c)(g) 

BBVA Bancomer SA, Subordinated Notes (5.350% to 11/12/24 then 5 year Treasury Constant Maturity Rate + 3.000%)

     5.350     11/12/29        1,350,000        1,276,343 (b)(c)(g) 

HSBC Holdings PLC, Junior Subordinated Notes (4.600% to 6/17/31 then 5 year Treasury Constant Maturity Rate + 3.649%)

     4.600     12/17/30        970,000        675,111 (c)(f)(g) 

ICICI Bank Ltd., Senior Notes

     4.000     3/18/26        3,000,000        2,860,674 (a)(c) 

Itau Unibanco Holding SA, Junior Subordinated Notes (6.500% to 3/19/23 then 5 year Treasury Constant Maturity Rate + 3.863%)

     6.500     3/19/23        5,970,000        5,427,357 (b)(c)(f)(g) 

NBK Tier 1 Ltd., Senior Notes (3.625% to 2/24/27 then USD 6 year ICE Swap Rate + 2.875%)

     3.625     8/24/26        2,450,000        2,090,703 (b)(c)(f)(g) 

 

See Notes to Schedule of Investments.

 

 

Western Asset Emerging Markets Debt Fund Inc. 2022 Quarterly Report    

 

 

 

11


WESTERN ASSET EMERGING MARKETS DEBT FUND INC.

 

Schedule of investments (unaudited) (cont’d)    September 30, 2022

(Percentages shown based on Fund net assets)

 

SECURITY

   RATE     MATURITY
DATE
     FACE
AMOUNT†
    VALUE  

Banks - (continued)

         

Russian Agricultural Bank OJSC Via RSHB Capital SA, Subordinated Notes

     8.500     10/16/23        7,290,000     $ 1,199,205 *(a)(d) 

Shinhan Bank Co. Ltd., Subordinated Notes

     3.875     3/24/26        1,260,000       1,191,730 (b)(c) 

UniCredit SpA, Subordinated Notes (7.296% to 4/2/29 then USD 5 year ICE Swap Rate + 4.914%)

     7.296     4/2/34        3,080,000       2,617,796 (b)(c)(g) 

United Overseas Bank Ltd., Subordinated Notes (3.750% to 4/15/24 then 5 year Treasury Constant Maturity Rate + 1.500%)

     3.750     4/15/29        2,600,000       2,532,829 (b)(c)(g) 
         

 

 

 

Total Banks

            36,451,697  
         

 

 

 

Capital Markets - 0.8%

         

B3 SA - Brasil Bolsa Balcao, Senior Notes

     4.125     9/20/31        2,800,000       2,195,291 (b)(c) 

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        2,340,000       2,219,958 (b)(c)(f)(g) 
         

 

 

 

Total Capital Markets

            4,415,249  
         

 

 

 

Consumer Finance - 0.9%

         

African Export-Import Bank, Senior Notes

     3.994     9/21/29        5,900,000       4,957,770 (b)(c) 
         

 

 

 

Diversified Financial Services - 2.5%

         

European Investment Bank, Senior Notes

     8.500     2/1/23        36,000,000 EGP      1,636,600  

Huarong Finance 2019 Co. Ltd., Senior Notes

     2.125     9/30/23        6,000,000       5,655,000 (a)  

Indian Railway Finance Corp. Ltd., Senior Notes

     2.800     2/10/31        1,800,000       1,390,767 (a)(c) 

Park Aerospace Holdings Ltd., Senior Notes

     5.500     2/15/24        1,980,000       1,939,680 (b)(c) 

REC Ltd., Senior Notes

     2.250     9/1/26        4,000,000       3,476,225 (a)  
         

 

 

 

Total Diversified Financial Services

            14,098,272  
         

 

 

 

Insurance - 0.6%

         

Sagicor Financial Co. Ltd., Senior Notes

     5.300     5/13/28        3,600,000       3,372,480 (b)(c) 
         

 

 

 

Real Estate Management & Development - 0.2%

 

      

Panther Ventures Ltd., Senior Notes

     3.800     9/17/23        2,000,000       1,468,733 (a)(f) 
         

 

 

 

TOTAL FINANCIALS

            64,764,201  
         

 

 

 
HEALTH CARE - 1.2%          

Pharmaceuticals - 1.2%

         

Teva Pharmaceutical Finance Netherlands III BV, Senior Notes

     3.150     10/1/26        8,000,000       6,574,760  
         

 

 

 

 

See Notes to Schedule of Investments.

 

 

 

12

 

    Western Asset Emerging Markets Debt Fund Inc. 2022 Quarterly Report

 


WESTERN ASSET EMERGING MARKETS DEBT FUND INC.

 

Schedule of investments (unaudited) (cont’d)    September 30, 2022

(Percentages shown based on Fund net assets)

 

SECURITY

   RATE     MATURITY
DATE
     FACE
AMOUNT†
     VALUE  
INDUSTRIALS - 3.8%           

Aerospace & Defense - 0.3%

          

Avolon Holdings Funding Ltd., Senior Notes

     4.250     4/15/26        1,820,000      $ 1,633,947 (b)(c) 
          

 

 

 

Airlines - 0.6%

          

Singapore Airlines Ltd., Senior Notes

     3.375     1/19/29        4,000,000        3,489,860 (a)  
          

 

 

 

Construction & Engineering - 1.2%

          

ATP Tower Holdings LLC/Andean Tower Partners Colombia SAS/Andean Telecom Par, Senior Secured Notes

     4.050     4/27/26        8,650,000        6,885,789 (b)(c) 
          

 

 

 

Industrial Conglomerates - 0.2%

          

Alfa SAB de CV, Senior Notes

     6.875     3/25/44        1,000,000        872,093 (b)(c)  
          

 

 

 

Road & Rail - 0.7%

          

Empresa de Transporte de Pasajeros Metro SA, Senior Notes

     5.000     1/25/47        2,560,000        1,957,440 (b)(c) 

Empresa de Transporte de Pasajeros Metro SA, Senior Notes

     4.700     5/7/50        3,000,000        2,266,875 (b)(c) 
          

 

 

 

Total Road & Rail

             4,224,315  
          

 

 

 

Transportation Infrastructure - 0.8%

          

DP World Ltd., Senior Notes

     5.625     9/25/48        3,400,000        2,985,595 (b)(c) 

ENA Master Trust, Senior Secured Notes

     4.000     5/19/48        1,850,000        1,381,774 (b)(c) 
          

 

 

 

Total Transportation Infrastructure

             4,367,369  
          

 

 

 

TOTAL INDUSTRIALS

             21,473,373  
          

 

 

 
MATERIALS - 10.8%           

Chemicals - 3.6%

          

Braskem America Finance Co., Senior Notes

     7.125     7/22/41        210,000        184,429 (a)(c)  

Braskem Finance Ltd., Senior Notes

     6.450     2/3/24        1,081,000        1,092,543  

Equate Petrochemical BV, Senior Notes

     4.250     11/3/26        1,300,000        1,228,509 (b)(c) 

Equate Petrochemical BV, Senior Notes

     4.250     11/3/26        200,000        189,001 (a)  

MEGlobal Canada ULC, Senior Notes

     5.875     5/18/30        4,100,000        4,073,043 (b)(c) 

OCP SA, Senior Notes

     5.125     6/23/51        4,000,000        2,561,660 (b)  

Orbia Advance Corp. SAB de CV, Senior Notes

     5.875     9/17/44        4,960,000        3,867,386 (b)(c) 

Sasol Financing USA LLC, Senior Notes

     4.375     9/18/26        5,800,000        5,068,884 (c)  

Sociedad Quimica y Minera de Chile SA, Senior Notes

     4.250     1/22/50        2,100,000        1,666,666 (b)(c) 
          

 

 

 

Total Chemicals

             19,932,121  
          

 

 

 

Construction Materials - 0.4%

          

Cemex SAB de CV, Senior Notes

     5.450     11/19/29        2,200,000        1,970,254 (a)(c) 
          

 

 

 

 

See Notes to Schedule of Investments.

 

 

Western Asset Emerging Markets Debt Fund Inc. 2022 Quarterly Report    

 

 

 

13


WESTERN ASSET EMERGING MARKETS DEBT FUND INC.

 

Schedule of investments (unaudited) (cont’d)    September 30, 2022

(Percentages shown based on Fund net assets)

 

SECURITY

   RATE     MATURITY
DATE
     FACE
AMOUNT†
     VALUE  

Metals & Mining - 5.2%

          

Antofagasta PLC, Senior Notes

     5.625     5/13/32        3,100,000      $ 2,867,500 (b)(c) 

Freeport Indonesia PT, Senior Notes

     4.763     4/14/27        2,000,000        1,810,579 (b)(c) 

Fresnillo PLC, Senior Notes

     4.250     10/2/50        4,000,000        2,757,880 (b)(c) 

Indonesia Asahan Aluminium Persero PT, Senior Notes

     5.710     11/15/23        10,120,000        10,117,116 (b)(c) 

Southern Copper Corp., Senior Notes

     7.500     7/27/35        310,000        336,100 (c)  

Southern Copper Corp., Senior Notes

     6.750     4/16/40        5,490,000        5,682,727 (c)  

Volcan Cia Minera SAA, Senior Notes

     4.375     2/11/26        7,000,000        5,790,540 (b)(c) 
          

 

 

 

Total Metals & Mining

             29,362,442  
          

 

 

 

Paper & Forest Products - 1.6%

          

Inversiones CMPC SA, Senior Notes

     4.375     5/15/23        2,070,000        2,060,089 (b)(c) 

Suzano Austria GmbH, Senior Notes

     5.750     7/14/26        3,450,000        3,368,114 (b)(c) 

Suzano Austria GmbH, Senior Notes

     6.000     1/15/29        3,940,000        3,680,015 (c)  
          

 

 

 

Total Paper & Forest Products

             9,108,218  
          

 

 

 

TOTAL MATERIALS

             60,373,035  
          

 

 

 
REAL ESTATE - 0.3%           

Real Estate Management & Development - 0.3%

 

       

China Aoyuan Group Ltd., Senior Secured Notes

     8.500     1/23/22        4,050,000        273,796 *(a)(e) 

China Aoyuan Group Ltd., Senior Secured Notes

     7.950     2/19/23        2,400,000        169,365 *(a)(d) 

China Aoyuan Group Ltd., Senior Secured Notes

     6.350     2/8/24        2,400,000        163,330 *(a)(d) 

China Aoyuan Group Ltd., Senior Secured Notes

     7.950     6/21/24        2,000,000        145,000 *(a)(d) 

China Aoyuan Group Ltd., Senior Secured Notes

     5.880     3/1/27        700,000        47,925 *(a)(d)  

Times China Holdings Ltd., Senior Secured Notes

     6.750     7/8/25        2,000,000        265,600 (a)  

Yuzhou Group Holdings Co. Ltd., Senior Secured Notes

     8.500     2/4/23        2,850,000        199,370 *(a)(d) 

Yuzhou Group Holdings Co. Ltd., Senior Secured Notes

     8.375     10/30/24        2,000,000        137,440 *(a)(d) 

Yuzhou Group Holdings Co. Ltd., Senior Secured Notes

     7.375     1/13/26        1,000,000        69,950 *(a)(d)  
          

 

 

 

TOTAL REAL ESTATE

             1,471,776  
          

 

 

 

 

See Notes to Schedule of Investments.

 

 

 

14

 

    Western Asset Emerging Markets Debt Fund Inc. 2022 Quarterly Report

 


WESTERN ASSET EMERGING MARKETS DEBT FUND INC.

 

Schedule of investments (unaudited) (cont’d)    September 30, 2022

(Percentages shown based on Fund net assets)

 

SECURITY

   RATE     MATURITY
DATE
     FACE
AMOUNT†
     VALUE  
UTILITIES - 6.0%           

Electric Utilities - 5.5%

          

Abu Dhabi National Energy Co. PJSC, Senior Notes

     4.875     4/23/30        5,100,000      $ 5,038,927 (b)(c) 

Enel Chile SA, Senior Notes

     4.875     6/12/28        5,150,000        4,773,628 (c)  

Eskom Holdings SOC Ltd.

     4.314     7/23/27        3,300,000        2,683,362 (a)  

Eskom Holdings SOC Ltd.

     6.350     8/10/28        6,340,000        5,549,022 (a)  

Instituto Costarricense de Electricidad, Senior Notes

     6.750     10/7/31        3,100,000        2,937,281 (b)(c)  

Kallpa Generacion SA, Senior Notes

     4.875     5/24/26        2,270,000        2,104,563 (a)(c)  

Lamar Funding Ltd., Senior Notes

     3.958     5/7/25        4,000,000        3,731,572 (a)  

Perusahaan Listrik Negara PT, Senior Notes

     5.250     5/15/47        5,810,000        4,301,939 (a)(c)  
          

 

 

 

Total Electric Utilities

             31,120,294  
          

 

 

 

Independent Power and Renewable Electricity Producers - 0.5%

 

     

Enel Generacion Chile SA, Senior Notes

     4.250     4/15/24        500,000        484,770 (c)  

Minejesa Capital BV, Senior Secured Notes

     5.625     8/10/37        3,100,000        2,220,763 (b)(c)  

Total Independent Power and Renewable Electricity Producers

 

        2,705,533  
          

 

 

 

TOTAL UTILITIES

             33,825,827  
          

 

 

 

TOTAL CORPORATE BONDS & NOTES

(Cost - $395,352,117)

 

 

        320,201,822  
          

 

 

 

TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS

(Cost - $983,698,155)

 

 

     780,088,926  
          

 

 

 
SHORT-TERM INVESTMENTS - 3.0%           
REPURCHASE AGREEMENTS - 2.1%           

Deutsche Bank Securities, repurchase agreement dated 9/30/22; Proceeds at maturity - $12,002,980; (Fully collateralized by U.S. government agency obligations, 2.375% due 8/15/2024; Market value - $12,000,000)

(Cost - $12,000,000)

     2.980     10/3/22        12,000,000        12,000,000  
          

 

 

 
                  SHARES         
MONEY MARKET FUNDS - 0.9%           

Western Asset Premier Institutional Government Reserves, Premium Shares

(Cost - $4,853,910)

     2.799        4,853,910        4,853,910 (h)  
          

 

 

 

TOTAL SHORT-TERM INVESTMENTS

(Cost - $16,853,910)

 

 

          16,853,910  
          

 

 

 

TOTAL INVESTMENTS - 142.1%

(Cost - $1,000,552,065)

 

 

        796,942,836  

Liabilities in Excess of Other Assets - (42.1)%

 

          (236,225,736
          

 

 

 

TOTAL NET ASSETS - 100.0%

           $ 560,717,100  
          

 

 

 

 

See Notes to Schedule of Investments.

 

 

Western Asset Emerging Markets Debt Fund Inc. 2022 Quarterly Report    

 

 

 

15


WESTERN ASSET EMERGING MARKETS DEBT FUND INC.

 

Schedule of investments (unaudited) (cont’d)    September 30, 2022

(Percentages shown based on Fund net assets)

 

Face amount denominated in U.S. dollars, unless otherwise noted.

 

*

Non-income producing security.

 

(a)

Security is exempt from registration under Regulation S of the Securities Act of 1933. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. This security has been deemed liquid pursuant to guidelines approved by the Board of Directors.

 

(b)

Security is exempt from registration under Rule 144A of the Securities Act of 1933. This security may be resold in transactions that are exempt from registration, normally to qualified institutional buyers. This security has been deemed liquid pursuant to guidelines approved by the Board of Directors.

 

(c)

All or a portion of this security is pledged as collateral pursuant to the loan agreement.

 

(d)

The coupon payment on this security is currently in default as of September 30, 2022.

 

(e)

The maturity principal is currently in default as of September 30, 2022.

 

(f)

Security has no maturity date. The date shown represents the next call date.

 

(g)

Variable rate security. Interest rate disclosed is as of the most recent information available. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above.

 

(h)

In this instance, as defined in the Investment Company Act of 1940, an “Affiliated Company” represents Fund ownership of at least 5% of the outstanding voting securities of an issuer, or a company which is under common ownership or control with the Fund. At September 30, 2022, the total market value of investments in Affiliated Companies was $4,853,910 and the cost was $4,853,910 (Note 2).

Abbreviation(s) used in this schedule:

 

ARS    — Argentine Peso
BRL    — Brazilian Real
EGP    — Egyptian Pound
EUR    — Euro
ICE    — Intercontinental Exchange
IDR    — Indonesian Rupiah
JSC    — Joint Stock Company
MXN    — Mexican Peso
OFZ    — Obligatsyi Federal’novo Zaima (Russian Federal Loan Obligation)
OJSC    — Open Joint Stock Company
PJSC    — Private Joint Stock Company
RUB    — Russian Ruble
USD    — United States Dollar
UYU    — Uruguayan Peso
ZAR    — South African Rand

 

See Notes to Schedule of Investments.

 

 

 

16

 

    Western Asset Emerging Markets Debt Fund Inc. 2022 Quarterly Report

 


WESTERN ASSET EMERGING MARKETS DEBT FUND INC.

 

Schedule of investments (unaudited) (cont’d)    September 30, 2022

(Percentages shown based on Fund net assets)

 

At September 30, 2022, the Fund had the following open futures contracts:

 

     Number of
Contracts
     Expiration
Date
     Notional
Amount
     Market
Value
     Unrealized
Appreciation
 
Contracts to Sell:               

U.S. Treasury 10-Year Notes

     403        12/22      $ 47,512,167      $ 45,161,187      $ 2,350,980  

U.S. Treasury Long-Term

              

Bonds

     401        12/22        55,019,638        50,688,906        4,330,732  
              

 

 

 
Net unrealized appreciation on open futures contracts                $ 6,681,712  
              

 

 

 

At September 30, 2022, the Fund had the following open forward foreign currency contracts:

 

Currency
Purchased
     Currency
Sold
    

Counterparty

   Settlement
Date
     Unrealized
Appreciation
(Depreciation)
 
USD      4,074,551        ZAR        68,248,725      Bank of America N.A.      10/14/22      $ 308,687  
MXN      14,883,000        USD        722,700      Citibank N.A.      10/14/22        14,396  
MXN      49,405,000        USD        2,446,314      JPMorgan Chase & Co.      10/14/22        521  
SGD      9,634,369        USD        6,854,299      JPMorgan Chase & Co.      10/14/22        (145,421
USD      31,119,741        IDR        470,125,926,494      JPMorgan Chase & Co.      10/14/22        259,138  
USD      10,582,222        MXN        221,774,800      JPMorgan Chase & Co.      10/14/22        (401,409
IDR      261,038,790,000        USD        17,317,155      Citibank N.A.      10/18/22        (183,871
USD      17,277,039        IDR        261,038,790,000      Citibank N.A.      10/18/22        143,755  
USD      7,490,542        EUR        7,455,230      JPMorgan Chase & Co.      12/15/22        140,639  
                 

 

 

 
Total                   $ 136,435  
                 

 

 

 

Abbreviation(s) used in this table:

 

EUR    — Euro
IDR    — Indonesian Rupiah
MXN    — Mexican Peso
SGD    — Singapore Dollar
USD    — United States Dollar
ZAR    — South African Rand

This Schedule of Investments is unaudited and is intended to provide information about the Fund’s investments as of the date of the schedule. Other information regarding the Fund is available in the Fund’s most recent annual or semi-annual shareholder report.

 

See Notes to Schedule of Investments.

 

 

Western Asset Emerging Markets Debt Fund Inc. 2022 Quarterly Report    

 

 

 

17


Notes to Schedule of Investments (unaudited)

 

1. Organization and significant accounting policies

Western Asset Emerging Markets Debt Fund Inc. (the “Fund”) was incorporated in Maryland on April 16, 2003 and is registered as a non-diversified, closed-end management investment company under the Investment Company Act of 1940, as amended (the “1940 Act”). The Board of Directors authorized 100 million shares of $0.001 par value common stock. The Fund’s primary investment objective is to seek high current income and the Fund’s secondary objective is to seek capital appreciation.

The following are significant accounting policies consistently followed by the Fund and are in conformity with U.S. generally accepted accounting principles (“GAAP”).

(a) Investment valuation. The valuations for fixed income securities (which may include, but are not limited to, corporate, government, municipal, mortgage-backed, collateralized mortgage obligations and asset-backed securities) and certain derivative instruments are typically the prices supplied by independent third party pricing services, which may use market prices or broker/dealer quotations or a variety of valuation techniques and methodologies. The independent third party pricing services typically use inputs that are observable such as issuer details, interest rates, yield curves, prepayment speeds, credit risks/spreads, default rates and quoted prices for similar securities. Investments in open-end funds are valued at the closing net asset value per share of each fund on the day of valuation. Futures contracts are valued daily at the settlement price established by the board of trade or exchange on which they are traded. Equity securities for which market quotations are available are valued at the last reported sales price or official closing price on the primary market or exchange on which they trade. When the Fund holds securities or other assets that are denominated in a foreign currency, the Fund will normally use the currency exchange rates as of 4:00 p.m. (Eastern Time). If independent third party pricing services are unable to supply prices for a portfolio investment, or if the prices supplied are deemed by the manager to be unreliable, the market price may be determined by the manager using quotations from one or more broker/dealers or at the transaction price if the security has recently been purchased and no value has yet been obtained from a pricing service or pricing broker. When reliable prices are not readily available, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded, but before the Fund calculates its net asset value, the Fund values these securities as determined in accordance with procedures approved by the Fund’s Board of Directors.

Pursuant to policies adopted by the Board of Directors, the Fund’s manager has been designated as the valuation designee and is responsible for the oversight of the daily valuation process. The Fund’s manager is assisted by the Global Fund Valuation Committee (the “Valuation Committee”). The Valuation Committee is responsible for making fair value determinations, evaluating the effectiveness of the Fund’s pricing policies, and reporting to the Fund’s manager and the Board of Directors. When determining the reliability of third party pricing information for investments owned by the Fund, the Valuation Committee, among other things, conducts due diligence reviews of pricing vendors, monitors the daily change in prices and reviews transactions among market participants.

 

 

 

18

   


Notes to Schedule of Investments (unaudited) (continued)

 

The Valuation Committee will consider pricing methodologies it deems relevant and appropriate when making fair value determinations. Examples of possible methodologies include, but are not limited to, multiple of earnings; discount from market of a similar freely traded security; discounted cash-flow analysis; book value or a multiple thereof; risk premium/yield analysis; yield to maturity; and/or fundamental investment analysis. The Valuation Committee will also consider factors it deems relevant and appropriate in light of the facts and circumstances. Examples of possible factors include, but are not limited to, the type of security; the issuer’s financial statements; the purchase price of the security; the discount from market value of unrestricted securities of the same class at the time of purchase; analysts’ research and observations from financial institutions; information regarding any transactions or offers with respect to the security; the existence of merger proposals or tender offers affecting the security; the price and extent of public trading in similar securities of the issuer or comparable companies; and the existence of a shelf registration for restricted securities.

For each portfolio security that has been fair valued pursuant to the policies adopted by the Board of Directors, the fair value price is compared against the last available and next available market quotations. The Valuation Committee reviews the results of such back testing monthly and fair valuation occurrences are reported to the Board of Directors quarterly.

The Fund uses valuation techniques to measure fair value that are consistent with the market approach and/or income approach, depending on the type of security and the particular circumstance. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable securities. The income approach uses valuation techniques to discount estimated future cash flows to present value.

GAAP establishes a disclosure hierarchy that categorizes the inputs to valuation techniques used to value assets and liabilities at measurement date. These inputs are summarized in the three broad levels listed below:

 

   

Level 1 – unadjusted quoted prices in active markets for identical investments

 

   

Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)

 

   

Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

 

   

 

 

19


Notes to Schedule of Investments (unaudited) (continued)

 

The following is a summary of the inputs used in valuing the Fund’s assets and liabilities carried at fair value:

 

ASSETS

 

DESCRIPTION

   QUOTED PRICES
(LEVEL 1)
     OTHER SIGNIFICANT
OBSERVABLE INPUTS
(LEVEL 2)
     SIGNIFICANT
UNOBSERVABLE
INPUTS
(LEVEL 3)
     TOTAL  

Long-Term Investments†:

           

Sovereign Bonds

     —        $ 459,887,104        —        $ 459,887,104  

Corporate Bonds & Notes

     —          320,201,822        —          320,201,822  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total Long-Term Investments

     —          780,088,926        —          780,088,926  
  

 

 

    

 

 

    

 

 

    

 

 

 

Short-Term Investments†:

           

Repurchase Agreements

     —          12,000,000        —          12,000,000  

Money Market Funds

   $ 4,853,910        —          —          4,853,910  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total Short-Term Investments

     4,853,910        12,000,000        —          16,853,910  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total Investments

   $ 4,853,910      $ 792,088,926        —        $ 796,942,836  
  

 

 

    

 

 

    

 

 

    

 

 

 

Short-Term Investments†:

           

Other Financial Instruments:

           

Futures Contracts††

   $ 6,681,712        —          —        $ 6,681,712  

Forward Foreign Currency Contracts††

     —        $ 867,136        —          867,136  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total Other Financial Instruments

   $ 6,681,712      $ 867,136        —        $ 7,548,848  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total

   $ 11,535,622      $ 792,956,062        —        $ 804,491,684  
  

 

 

    

 

 

    

 

 

    

 

 

 

LIABILITIES

 

DESCRIPTION

   QUOTED PRICES
(LEVEL 1)
     OTHER SIGNIFICANT
OBSERVABLE INPUTS
(LEVEL 2)
     SIGNIFICANT
UNOBSERVABLE
INPUTS
(LEVEL 3)
     TOTAL  

Other Financial Instruments:

           

Forward Foreign Currency

           
  

 

 

    

 

 

    

 

 

    

 

 

 

Contracts††

     —        $ 730,701        —        $ 730,701  
  

 

 

    

 

 

    

 

 

    

 

 

 

 

See Schedule of Investments for additional detailed categorizations.

 

††

Reflects the unrealized appreciation (depreciation) of the instruments.

2. Transactions with affiliated company

As defined by the 1940 Act, an affiliated company is one in which the Fund owns 5% or more of the outstanding voting securities, or a company which is under common ownership or control with the Fund. The following company was considered an affiliated company for

 

 

 

20

   


Notes to Schedule of Investments (unaudited) (continued)

 

all or some portion of the period ended September 30, 2022. The following transactions were effected in such company for the period ended September 30, 2022.

 

             Purchased     Sold     Realized
Gain (Loss)
    Dividend
Income
    Net Increase
(Decrease) in

Unrealized
Appreciation
(Depreciation)
    Affiliate
Value at
September 30,
2022
 
    Affiliate
Value at
December 31,
2021
    Cost     Shares     Cost     Shares  
Western Asset Premier Institutional Government Reserves, Premium Shares   $ 2,054,211     $ 193,573,413       193,573,413     $ 190,773,714       190,773,714       —       $ 43,267       —       $ 4,853,910  

 

 

   

 

 

21