NEW
YORK, Sept. 12, 2023 /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 2027 Term Fund
(NYSE: BSL), Blackstone Long-Short Credit Income Fund (NYSE: BGX),
and Blackstone Strategic Credit 2027 Term 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
2027 Term Fund
|
$ 0.119
|
|
BGX
|
Long-Short Credit
Income Fund
|
$ 0.112
|
|
BGB
|
Strategic Credit 2027
Term Fund
|
$ 0.102
|
|
Ex-Date:
|
September 21,
2023
|
October 23,
2023
|
November 21,
2023
|
|
Record
Date:
|
September 22,
2023
|
October 24,
2023
|
November 22,
2023
|
|
Payable
Date:
|
September 29,
2023
|
October 31,
2023
|
November 30,
2023
|
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.
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 $1 trillion in assets under management include
investment vehicles focused on private equity, real estate, private
and liquid credit, infrastructure, life sciences, growth equity,
public securities 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. Blackstone's Credit
and Insurance segment has $295
billion in AUM. Blackstone
Credit seeks 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 Funds at 1 (877) 299-1588 or visit the Funds'
website at www.blackstone-credit.com for additional
information.
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SOURCE Blackstone
