NEW YORK, June 9, 2021 /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 The Blackstone
Group, 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
|
$0.075
|
BGX
|
Long-Short Credit
Income Fund
|
$0.081
|
BGB
|
Strategic Credit
Fund
|
$0.072
|
Ex-Date:
|
June 22,
2021
|
July 22,
2021
|
August 23,
2021
|
Record
Date:
|
June 23,
2021
|
July 23,
2021
|
August 24,
2021
|
Payable
Date:
|
June 30,
2021
|
July 30,
2021
|
August 31,
2021
|
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 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 $649 billion in assets under management include
investment vehicles focused on private equity, real estate, public
debt and equity, life sciences, growth equity, opportunistic,
non-investment grade credit, real assets and secondary funds, all
on a global basis.
Blackstone Credit is one of the
largest credit-focused asset managers, with $149 billion in AUM. 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 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