Blackstone Credit Closed Ended Funds Declare Monthly Distributions | News

NEW YORK, March 10, 2022 /PRNewswire/ — Blackstone Liquid Credit Strategies LLC, an affiliate of Blackstone Alternative Credit Advisors LP (collectively, and with their affiliates in the credit-focused business of Blackstone Inc., “Credit Blackstone“), announced monthly distributions for the three listed closed-end funds it advises, Blackstone Senior Floating Rate Term Fund (NYSE: BSL), Blackstone Long-Short Credit Income Fund (NYSE: BGX) and Blackstone Strategic Credit Fund (NYSE: BGB) (each a “Fund” and together the “Funds”).

The Funds’ monthly distributions are shown below. The following dates apply to declarations of distribution for the Funds:

Teleprinter

Funds

Monthly distribution per share

BSL

Senior Floating Rate Term Fund

$ 0.071

BGX

Long-Short Credit Income Fund

$ 0.073

BGB

Strategic Credit Fund

$ 0.065

Ex-date:

March 23, 2022

April 21, 2022

May 20, 2022

Registration Date :

March 24, 2022

April 22, 2022

May 23, 2022

Payment date :

March 31, 2022

April 29, 2022

May 31, 2022

The Funds declare a set of monthly distributions each quarter, the amounts of which are closely related to the recent average monthly net income of the respective Fund. Accordingly, monthly distribution amounts for the Funds generally vary from quarter to quarter, and shareholders of a Fund should not expect that Fund to continue to pay distributions in the same amounts shown. above. The dynamic distribution strategy offers Credit Blackstone with greater flexibility to maintain the credit quality of the portfolio in varying market conditions. In addition, the dynamic distribution strategy reduces the need to retain reserves from net investment income to support stable future distributions.

A portion of each distribution may be considered to arise from sources other than net investment income, including but not limited to short-term capital gain, long-term capital gain, or return of capital . The final determination of the source and tax characteristics of such distributions will depend on each Fund’s investment experience during its fiscal year and will be made after the end of the Fund’s fiscal year. Each Fund will send investors a Form 1099-DIV for the calendar year which will set out how to report such distributions for federal income tax purposes.

On Blackstone and Blackstone Credit

Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors, the companies in which we invest and the communities in which we work. We do this by using amazing people and flexible capital to help companies solve their problems. Our $881 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth capital, lower quality opportunistic credit, real assets and secondary funds, all on a global scale. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, Twitter and Instagram.

Credit Blackstone is one of the largest credit-focused asset managers in the world, with $243 billion in assets under management. We seek to generate attractive risk-adjusted returns for our clients by investing across the full spectrum of the corporate credit market, from government debt to private loans. Our capital supports a wide range of businesses across all industries and geographies, enabling businesses to grow, invest and navigate changing market environments.

Investors wishing to buy or sell shares must place their orders through an intermediary or a broker.

View original content for multimedia download: https://www.prnewswire.com/news-releases/blackstone-credit-closed-end-funds-declare-monthly-distributions-301500553.html

SOURCE Blackstone

Comments are closed.