GIM Templeton Global Income Fund Inc

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D/A

 

Under the Securities Exchange Act of 1934

(Amendment No. 24)*

 

Templeton Global Income Fund

(Name of Issuer)

 

Common Shares, No par value

(Title of Class of Securities)

 

880198106

(CUSIP Number)

November 6, 2023

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), Rule 13d-1(f) or Rule 13d-1(g), check the following box. [X]

(Page 1 of 6 Pages)

______________________________

* The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

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1	NAME OF REPORTING PERSON Saba Capital Management, L.P.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP		(a) ☐ (b) ☐
3	SEC USE ONLY
4	SOURCE OF FUNDS OO (see Item 3)
5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)		☐
6	CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:	7	SOLE VOTING POWER -0-
	8	SHARED VOTING POWER 31,525,790
	9	SOLE DISPOSITIVE POWER -0-
	10	SHARED DISPOSITIVE POWER 31,525,790
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON 31,525,790
12	CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES		☐
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 30.68%
14	TYPE OF REPORTING PERSON PN; IA

The percentages used herein are calculated based upon 102,746,371 shares of common stock outstanding as of 6/30/23, as disclosed in the company's N-CSRS filed 8/29/2023.

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1	NAME OF REPORTING PERSON Boaz R. Weinstein
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP		(a) ☐ (b) ☐
3	SEC USE ONLY
4	SOURCE OF FUNDS OO (see Item 3)
5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)		☐
6	CITIZENSHIP OR PLACE OF ORGANIZATION United States
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:	7	SOLE VOTING POWER 186,271
	8	SHARED VOTING POWER 31,525,790
	9	SOLE DISPOSITIVE POWER 186,271
	10	SHARED DISPOSITIVE POWER 31,525,790
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON 31,712,061
12	CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES		☐
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 30.86%
14	TYPE OF REPORTING PERSON IN

The percentages used herein are calculated based upon 102,746,371 shares of common stock outstanding as of 6/30/23, as disclosed in the company's N-CSRS filed 8/29/2023.

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1	NAME OF REPORTING PERSON Saba Capital Management GP, LLC
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP		(a) ☐ (b) ☐
3	SEC USE ONLY
4	SOURCE OF FUNDS OO (see Item 3)
5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)		☐
6	CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:	7	SOLE VOTING POWER 772
	8	SHARED VOTING POWER 31,525,790
	9	SOLE DISPOSITIVE POWER 772
	10	SHARED DISPOSITIVE POWER 31,525,790
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON  31,526,562
12	CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES		☐
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 30.68%
14	TYPE OF REPORTING PERSON OO

The percentages used herein are calculated based upon 102,746,371 shares of common stock outstanding as of 6/30/23, as disclosed in the company's N-CSRS filed 8/29/2023.

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Item 1.	SECURITY AND ISSUER
	This Amendment No. 24 amends and supplements the statement on Schedule 13D filed with the SEC on 11/18/20, as amended by Amendment No. 1 filed 12/9/20, Amendment No. 2 filed 12/16/20, Amendment No. 3 filed 12/28/20, Amendment No. 4 filed 12/29/20, Amendment No. 5 filed 1/14/21, Amendment No. 6 filed 1/29/21, Amendment No. 7 filed 5/12/21, Amendment No. 8 filed 7/9/21, Amendment No. 9 filed 7/27/21, Amendment No. 10 filed 8/10/21, Amendment No. 11 filed 11/29/21, Amendment No. 12 filed 12/16/21, Amendment No. 13 filed 12/28/21, Amendment No. 14 filed 6/7/22, Amendment No. 15 filed 7/14/22, Amendment No. 16 filed 8/23/22, Amendment No. 17 filed 9/21/22, Amendment No. 18 filed 11/7/22, Amendment No. 19 filed 12/30/22, Amendment No. 20 filed 6/9/23, Amendment No. 21 filed 6/21/23, Amendment No. 22 filed 8/18/23, and Amendment No. 23 filed 9/6/23; with respect to the common shares of Templeton Global Income Fund.  This Amendment No. 24 amends Item 4 as set forth below.
Item 4.	PURPOSE OF THE TRANSACTION
	Item 4 is hereby amended and supplemented as follows:  On November 6, 2023, the Issuer issued a press release (the "November 6 Press Release") reporting the results of the special meeting of shareholders (the "Special Meeting") held on October 25, 2023.  The November 6 Press Release reported that shareholders had approved an advisor transition, pursuant to which Saba Capital Management, L.P. will replace Franklin Templeton Advisers, Inc. as the Issuer's investment advisor (the "Advisor Transition").  The Advisor Transition is expected to occur on or about December 31, 2023.  In connection with the Adviser Transition to Saba, the November 6 Press Release also disclosed that the Issuer's name will change to "Saba Capital Income & Opportunities Fund II" and that the common shares of the Issuer will continue to be listed on the New York Stock Exchange under the new ticker symbol "SABA."  The foregoing summary of the November 6 Press Release is not intended to be complete and is qualified in its entirety by reference to the full text of the November 6 Press Release, which is filed herewith as Exhibit 5 and is incorporated herein by reference.
Item 7.	MATERIAL TO BE FILED AS EXHIBITS
	Item 7 is hereby amended to add the following exhibit:
Exhibit 5:	November 6 Press Release, issued November 6, 2023

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SIGNATURES

After reasonable inquiry and to the best of his or its knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.

Date:  November 8, 2023

	SABA CAPITAL MANAGEMENT, L.P.  By:  /s/ Michael D'Angelo
	Name: Michael D'Angelo Title: Chief Compliance Officer
	SABA CAPITAL MANAGEMENT GP, LLC  By:  /s/ Michael D'Angelo Name: Michael D'Angelo Title: Authorized Signatory
	BOAZ R. WEINSTEIN  By:  /s/ Michael D'Angelo
	Name: Michael D'Angelo
	Title: Attorney-in-fact*
* Pursuant to a power of attorney dated as of November 16, 2015, which is incorporated herein by reference to Exhibit 2 to the Schedule 13G filed by the Reporting Persons on December 28, 2015, accession number: 0001062993-15-006823

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EXHIBIT 5

Templeton Global Income Fund Announces Results
of Special Meeting of Shareholders

Saba Capital Management, L.P. to Serve as the Fund's New Investment Adviser

Fund to Change Name to Saba Capital Income & Opportunities Fund II
(NYSE: SABA)

New York, NY - November 6, 2023 - Templeton Global Income Fund (NYSE: GIM) (the "Fund") today reported the results of its Special Meeting of Shareholders (the "Special Meeting") held on October 25, 2023.

The results show that all three proposals presented at the Special Meeting passed. Specifically, shareholders voted in favor of:

• The approval of a new investment management agreement between the Fund and Saba Capital Management, L.P. ("Saba") (the "New Management Agreement");
  
  
• The approval of making the Fund's investment objective "non-fundamental" to provide the Fund with greater investment flexibility; and
  
  
• The removal of the Fund's fundamental policy mandating that at least 65% of the Fund's total assets be invested in at least three countries and in various types of debt instruments.

The approval of the New Management Agreement follows the previously announced selection of Saba by the Fund's Board of Trustees (the "Board") to serve as the new investment adviser of the Fund (the "Adviser Transition"). The Fund sent a notice to Franklin Templeton Advisers, Inc. ("Franklin Advisers"), the current manager of the Fund, terminating the current investment management agreement between the Fund and Franklin Advisers. The Adviser Transition, whereby Saba will assume responsibility for providing investment management services to the Fund, will occur on or about the close of business on December 31, 2023. Saba intends to leverage its experienced team, sophisticated investment advisory platform, extensive resources and track record managing and operating various funds, including another publicly-traded closed-end fund, to expand the Fund's investment strategy consistent with the Fund's current investment objective to provide high current income and capital appreciation.

New Fund Name and Ticker Symbol

In connection with the Adviser Transition, the Fund's name will change to Saba Capital Income & Opportunities Fund II. The common shares of the Fund will continue to be listed on the New York Stock Exchange (the "NYSE") under the new ticker symbol "SABA."

The Fund has changed its fiscal year end and tax year end, effective October 31, 2023, from December 31 to October 31.

Tender Offer

Additionally, in an effort to enhance liquidity to shareholders ahead of the Adviser Transition; provide potential accretion to the Fund's net asset value ("NAV") per share; and seek to help narrow the NAV discount at which the Fund's shares trade, the Fund previously announced that the Board has approved the commencement of a cash tender offer for up to 45% of its outstanding common shares, no par value, at a price equal to 99% of the Fund's NAV per share as determined as of the close of the regular trading session of the New York Stock Exchange ("NYSE") on the day the tender offer expires. The tender offer will expire on November 9, 2023 at 5:00 p.m. Eastern time, unless otherwise extended.

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Important Notice

This press release is for informational purposes only and shall not constitute a recommendation or an offer or a solicitation to buy any common shares. The offer to purchase Fund common shares is being made pursuant to the Fund's Offer to Purchase on Schedule TO, filed with the U.S. Securities and Exchange Commission ("SEC") on October 10, 2023, as amended. COMMON SHAREHOLDERS ARE URGED TO READ THE TENDER OFFER MATERIALS, INCLUDING THE OFFER TO PURCHASE AND ANY SOLICITATION/RECOMMENDATION STATEMENT REGARDING THE TENDER OFFER, AS THEY MAY BE AMENDED OR SUPPLEMENTED FROM TIME TO TIME, BECAUSE THEY CONTAIN IMPORTANT INFORMATION THAT HOLDERS OF COMMON SHARES SHOULD CONSIDER BEFORE MAKING ANY DECISION REGARDING TENDERING THEIR SHARES. Common shareholders may obtain a free copy of any of these statements and other documents filed with the SEC at the website maintained by the SEC at www.sec.gov or by directing such requests to the Fund.

About Saba Capital

Saba Capital Management, L.P. is a global alternative asset management firm that seeks to deliver superior risk-adjusted returns for a diverse group of clients. Founded in 2009 by Boaz Weinstein, Saba is a pioneer of credit relative value strategies and capital structure arbitrage. Saba is headquartered in New York City. Learn more at www.sabacapital.com.

Contacts

Longacre Square Partners
Greg Marose / Charlotte Kiaie, 646-386-0091
gmarose@longacresquare.com / ckiaie@longacresquare.com

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