Western Asset Premier Bond Fund (the Fund) is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income and capital appreciation by investing in a portfolio of investment grade bonds. It may invest over 80% of its total managed assets in bonds, including corporate bonds, the Unites States Government and agency securities, and mortgage-related securities, and over 65% in bonds that are of investment grade quality. It may invest up to 35% of its total managed assets in bonds of below investment grade quality. It may invest in securities or instruments other than bonds, and may invest over 10% of its total managed assets in instruments denominated in currencies other than the United States dollar. The Fund invests in sectors, such as financials, energy, telecommunication services, consumer discretionary, healthcare, materials, information technology and consumer staples. Western Asset Management Company is its investment advisor.