Western Asset High Income Fund II Inc. Announces Plan for Tender Offer

NEW YORK--(BUSINESS WIRE)--Western Asset High Income Fund II Inc. (NYSE: HIX) announced today that the Fund’s Board of Directors has authorized (subject to certain conditions) a cash tender offer for up to 35% of the Fund’s outstanding shares of common stock (the “Shares”) at a price per Share equal to 99.5% of the Fund’s net asset value per Share as of the business day immediately following the expiration date of the tender offer. The commencement of the tender offer will be announced at a later date. The tender offer will not expire prior to November 13, 2020, or such later date as determined by the Fund’s board of directors. The Fund will repurchase Shares tendered and accepted in the tender offer in exchange for cash. In the event the tender offer is oversubscribed, Shares will be repurchased on a pro rata basis.