NEW YORK, March 10, 2022 /PRNewswire/ -- Blackstone Liquid
Credit Strategies LLC, an affiliate of Blackstone Alternative
Credit Advisors LP (collectively, and together with their
affiliates in the credit-focused business of Blackstone Inc.,
"Blackstone Credit"), 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 set forth below. The
following dates apply to the distribution declarations for the
Funds:
Ticker
|
Fund
|
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
|
Record
Date:
|
March 24,
2022
|
April 22,
2022
|
May 23,
2022
|
Payable
Date:
|
March 31,
2022
|
April 29,
2022
|
May 31,
2022
|
The Funds declare a set of monthly distributions each quarter in
amounts closely tied to the respective Fund's recent average
monthly net income. As a result, the monthly distribution amounts
for the Funds typically vary quarter-to-quarter, and shareholders
of any Fund should not expect that Fund to continue to pay
distributions in the same amounts shown above. The dynamic
distribution strategy provides Blackstone
Credit with greater flexibility to maintain portfolio credit
quality in varying market conditions. In addition, the dynamic
distribution strategy reduces the need to retain reserves from net
investment income to support the stability of future
distributions.
A portion of each distribution may be treated as paid 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 these distributions will depend upon each Fund's
investment experience during its fiscal year and will be made after
the Fund's year end. Each Fund will send to investors a Form
1099-DIV for the calendar year that will define how to report these
distributions for federal income tax purposes.
About 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 we invest in, and
the communities in which we work. We do this by using extraordinary
people and flexible capital to help companies solve 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 equity, opportunistic, non-investment grade
credit, real assets and secondary funds, all on a global
basis. Further information is available at www.blackstone.com.
Follow @blackstone on LinkedIn, Twitter, and Instagram.
Blackstone Credit is one of the
world's largest credit-focused asset managers, with $243 billion in assets under management. We seek
to generate attractive risk-adjusted returns for our clients by
investing across the entire corporate credit market, from public
debt to private loans. Our capital supports a wide range of
companies across sectors and geographies, enabling businesses to
expand, invest, and navigate changing market environments.
Investors wishing to buy or sell shares need to place orders
through an intermediary or broker.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/blackstone-credit-closed-end-funds-declare-monthly-distributions-301500553.html
SOURCE Blackstone