Salomon Brothers Announces Launch of Salomon Brothers Emerging Markets Debt Fund Inc.

Share Name	Share Symbol	Market	Type
BGC Group Inc	TG:ESD	Tradegate	Ordinary Share

Share Name

Share Symbol

Market

Type

BGC Group Inc

TG:ESD

Tradegate

Ordinary Share

	Price Change	% Change	Share Price	Bid Price	Offer Price	High Price	Low Price	Open Price	Shares Traded	Last Trade
	0.00	0.00%	8.50	8.65	8.90				0.00	11:16:07

Price Change

% Change

Share Price

Bid Price

Offer Price

High Price

Low Price

Open Price

Shares Traded

Last Trade

0.00

0.00%

8.50

8.65

8.90

0.00

11:16:07

Salomon Brothers Announces Launch of Salomon Brothers Emerging Markets Debt Fund Inc.

02/12/2003 4:21pm

PR Newswire (US)

BGC (TG:ESD)
Historical Stock Chart

From Dec 2019 to Dec 2024

Salomon Brothers Announces Launch of Salomon Brothers Emerging Markets Debt Fund Inc. NEW YORK, Dec. 2 /PRNewswire-FirstCall/ -- Salomon Brothers Asset Management Inc. ("SBAM") today announced that the Salomon Brothers Emerging Markets Debt Fund Inc. ("the Fund") began trading today on the New York Stock Exchange under the symbol "ESD." The Fund is a newly organized, non-diversified closed-end management investment company whose investment objective is total return, with high current income as a secondary objective. Salomon Brothers Emerging Markets Debt Fund will invest primarily in a portfolio of debt securities of emerging market issuers. In an effort to maximize returns, Salomon Brothers Emerging Markets Debt Fund may employ leverage through borrowings and in most situations, up to approximately 33% of its total assets. However, the Fund may not be leveraged at all times, and the amount of leverage may vary. The Fund raised approximately $552 million during its recent initial public offering of common shares, assuming full exercise of the underwriters' overallotments, which may not necessarily occur. Citigroup Global Markets Inc. was the lead manager of the underwriting syndicate. Salomon Brothers Emerging Markets Debt Fund will be managed by SBAM, which is relied on by some of the world's largest institutions for global fixed income investment management. SBAM was established in 1987 and, together with SBAM affiliates in London, Tokyo, and Hong Kong, provides a broad range of fixed income and equity investment management services to individuals and institutional clients throughout the world. It is an indirect wholly owned subsidiary of Citigroup Inc. Shares of closed-end exchange-traded investment companies, like the Fund, usually trade on a national stock exchange. Like other stocks, share prices will fluctuate with market conditions and, at the time of sale, may be worth more or less than the original investment. Shares of closed-end exchange- traded funds often trade at a discount to their net asset value, and may also trade at a discount to their original offering price. The Fund's use of leverage may cause greater volatility in the net asset value of its shares. For a prospectus and more complete information about Salomon Brothers Emerging Markets Debt Fund Inc., including risk considerations, charges and expenses, please contact a financial advisor or Salomon Brothers Asset Management at 1-888-777-0102. Investors should read the prospectus carefully before they invest. DATASOURCE: Salomon Brothers Asset Management Inc. CONTACT: Brenda Grandell, Director, Closed-End Funds, Citigroup Asset Management, +1-212-291-3775; or Investor Relations, 1-888-777-0102

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ESD BGC Group Inc