ClearBridge places $75 million preferreds, Amer Sports issues $55 million Schuldschein

By Lisa Kerner

Charlotte, N.C., Aug. 10 – ClearBridge American Energy MLP Fund Inc. privately placed $75 million of fixed-rate mandatory redeemable preferred stock on Friday with American International Group, Inc.

The New York-based fund sold $38 million of 4.01% series C preferreds due Aug. 7, 2022 and $37 million of 4.3% series D preferreds due Aug. 7, 2024, according to a Securities and Exchange Commission filing.

The company said it will use the proceeds to make new portfolio investments and for general corporate purposes.

ClearBridge is a non-diversified closed-end investment management company advised by Legg Mason Partners Fund Advisor LLC and sub-advised by ClearBridge Investments LLC.

Amer Sports Corp. issued Schuldschein loan agreements with a total value of $55 million.

The loans have floating-rate tranches, and the loan periods are for five years and 5.5 years, a news release stated.

Landesbank Hessen-Thuringen was the bookrunner.

Amer Sports is a Helsinki, Finland-based sporting goods company.

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