NEW YORK, Sept. 10, 2020 /PRNewswire/ -- GSO /
Blackstone Debt Funds Management LLC, an affiliate of GSO Capital
Partners LP ("GSO"), announced monthly distributions for the three
listed closed-end funds it advises, Blackstone / GSO Senior
Floating Rate Term Fund (NYSE: BSL), Blackstone / GSO Long-Short
Credit Income Fund (NYSE: BGX), and Blackstone / GSO 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
|
$0.079
|
BGX
|
Long-Short Credit
Income Fund
|
$0.087
|
BGB
|
Strategic Credit
Fund
|
$0.080
|
Ex-Date:
|
September 22,
2020
|
October 22,
2020
|
November 19,
2020
|
Record
Date:
|
September 23,
2020
|
October 23,
2020
|
November 20,
2020
|
Payable
Date:
|
September 30,
2020
|
October 30,
2020
|
November 30,
2020
|
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 GSO 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 GSO Capital Partners
Blackstone is one of the world's leading investment firms. 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 asset management
businesses, with $564 billion in
assets under management, include investment vehicles focused on
private equity, real estate, public debt and equity, growth equity,
opportunistic, non-investment grade credit, real assets and
secondary funds, all on a global basis.
GSO Capital Partners LP is the global credit investment platform
of Blackstone. Our credit & insurance segment, which consists
principally of GSO, has approximately $138
billion of assets under management. GSO is one of the
largest alternative managers in the world focused on the
leveraged-finance, or non-investment grade related, marketplace.
GSO seeks to generate attractive risk-adjusted returns in its
business by investing in a broad array of strategies including
mezzanine debt, distressed investing, leveraged loans and other
special-situation strategies. Its funds are major providers of
credit for small and middle-market companies and they also advance
rescue financing to help distressed companies.
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-gso.com for additional
information.
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SOURCE Blackstone / GSO Capital Partners