NEW
YORK, June 9, 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
|
$0.074
|
BGX
|
Long-Short Credit
Income Fund
|
$0.079
|
BGB
|
Strategic Credit
Fund
|
$0.067
|
|
|
|
|
Ex-Date:
|
June 22,
2022
|
July 21,
2022
|
August 23,
2022
|
Record
Date:
|
June 23,
2022
|
July 22,
2022
|
August 24,
2022
|
Payable
Date:
|
June 30,
2022
|
July 29,
2022
|
August 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
$915 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 & Insurance
is one of the world's largest credit-focused asset managers, with
$266 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.
Contact the Fund at 1 (877) 299-1588 or visit the Funds'
website at www.blackstone-credit.com for additional
information.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/blackstone-credit-closed-end-funds-declare-monthly-distributions-301565383.html
SOURCE Blackstone