Company: BWG
Filing Date: 2025-05-30
Form Type: CORRESP
Source: 0001193125-25-131864
Chunk: 1

Company: BrandywineGLOBAL-Global Income Opportunities Fund Inc
Filing Date: 2025-05-30
Form: CORRESP
Chunk 1
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1940, as amended, or to a rule thereunder. |

The Registrant advises the Staff that the identified transactions were
related to variable rate demand notes and did not result in any realized gains or losses. The Registrant will provide details regarding any gains and losses generated by these types of transactions in future financial statements.

3. (Funds that engaged in dollar roll and TBA transactions, e.g., Western Asset Mortgage Total Return Fund and Western Asset Total Return
Unconstrained Fund): Please consider breaking out receivables and/or payables related to dollar roll or TBA transactions separately from other liabilities in the statement of assets and liabilities.

: The Registrant advises the Staff that it will break out receivables and payables, as applicable, relating to dollar roll and
TBA transactions separately from other liabilities in the statement of assets and liabilities in future reports.

4. (BrandywineGLOBAL
– Flexible Bond Fund): As of December 31, 2024, the Fund held common stock of New Fortress Energy Inc. that had an assigned cost of $0. Please explain how the Fund acquired these shares and why no cost was assigned to them. Please include
a discussion of how cost basis is assigned to securities received as a result of corporate actions and/or credit events, and cite relevant U.S. Generally Accepted Accounting Principles (GAAP).

: The Registrant advises the Staff that common shares in New Fortress Energy were received as a form of consent payment to
supporting bond holders in late 2024 when the company exchanged multiple tranches of then outstanding notes for new notes. The Registrant believes the transaction was treated as a debt extinguishment under ASC 470 by the borrower, and the common
shares received were a form of non-cash consideration under the same standard. Under ASC 310-20, the Registrant believes the cost of common shares received should have
been set to fair value on the date of the transaction and in accordance with the terms of the exchange, with the fair value of non-cash consideration received included in gain/loss on the extinguishment of the
original notes. The Registrant notes that the non-cash consideration is not material to the Fund.

5.
(Funds that hold senior loans, e.g., BrandywineGLOBAL – Global Opportunities Bond Fund and Western Asset Global Corporate Opportunity Fund Inc.): Please confirm whether the Funds have any unfunded loan commitments. If so, briefly
describe the accounting treatment for such unfunded commitments and refer to any applicable U.S.G