NEW YORK, Sept. 12,
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
|
$ 0.082
|
BGX
|
Long-Short Credit
Income Fund
|
$ 0.085
|
BGB
|
Strategic
Credit Fund
|
$ 0.077
|
Ex-Date:
|
September 22,
2022
|
October 21,
2022
|
November 21,
2022
|
Record Date:
|
September 23,
2022
|
October 24,
2022
|
November 22,
2022
|
Payable Date:
|
September 30,
2022
|
October 31,
2022
|
November 30,
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 $941
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
$265 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.
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SOURCE Blackstone