Simpson Thacher Represents Issuer in $250 Million Initial Public Offering by Western Asset Municipal Defined Opportunity Trust Inc.
04.09.09
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The Firm represented Western Asset Municipal Defined Opportunity Trust Inc. (the “Fund”) in connection with its $250 million initial public offering. The Fund is a newly organized, non-diversified closed-end management investment company, which trades on the New York Stock Exchange under the symbol “MTT”. The underwriting syndicate was led by Wachovia Capital Markets, LLC and Citigroup Global Markets Inc.
Legg Mason Partners Fund Advisor, LLC is the Fund’s investment manager. The Fund’s subadviser is Western Asset Management Company, a subsidiary of Legg Mason, Inc. and one of the world's premier fixed-income managers with $513 billion in assets under management as of December 31, 2008.
The Simpson Thacher team included: Sarah Cogan, David Wohl and Robert Griffith (Corporate) and Marcy Geller, Jonathan Cantor and Jeffery Graff (Tax). Paralegal Natalie Kone also provided valuable assistance.