Filed Pursuant to Rule
497
Registration No. 333-178695
CLEARBRIDGE ENERGY MLP FUND INC.
SUPPLEMENT DATED MAY 2, 2014 TO
PROSPECTUS DATED APRIL 2, 2014
Recent developments
As previously disclosed in the Funds press release dated May 1, 2014, ClearBridge Energy MLP Fund Inc. (the Fund) completed a private placement of $75 million of fixed-rate senior secured notes on April 30, 2014. Net proceeds from the offering will be used to make new portfolio investments, and for general corporate purposes. Immediately after the note issuance, the Funds total leverage was $502 million or 20% of managed assets, composed of 88% in fixed-rate securities and 12% in floating rate financing.
The table below summarizes the key terms of the private placement.
Security |
Amount | Rate | Maturity | |||
Senior secured notes |
||||||
Series A |
$75M | 4.20% | 4/30/26 |