Welcome to our dedicated page for Blackstone Strategic Credit 2027 Term Fund news (Ticker: BGB), a resource for investors and traders seeking the latest updates and insights on Blackstone Strategic Credit 2027 Term Fund stock.
Blackstone Strategic Credit 2027 Term Fund (BGB) is a closed-end term fund managed by Blackstone Liquid Credit Strategies LLC, an affiliate of Blackstone Alternative Credit Advisors LP. The primary investment objective of BGB is to seek high current income, while its secondary objective is to preserve capital. Under normal market conditions, the Fund invests at least 80% of its Managed Assets in senior, secured floating-rate loans, offering investors a steady income stream. BGB also invests in second-lien loans and high-yield bonds, employing financial leverage to potentially enhance returns, albeit with increased risk.
Established to operate for a fixed term, the Fund's lifespan can only be extended with shareholder approval. This structure ensures investors clarity on the Fund's operational timeline.
In recent news, effective January 1, 2024, Robert Zable was appointed as Trustee, Chairman of the Boards of Trustees, President, and Chief Executive Officer of BGB, succeeding Daniel H. Smith. Additionally, Robert Post has taken over the roles of Executive Vice President and Assistant Secretary. Both Mr. Zable and Mr. Post bring extensive experience in the credit market, promising stable and informed management of the Fund.
BGB's dynamic distribution strategy is noteworthy. The Fund declares monthly distributions based on recent average monthly net income, which may vary each quarter. This flexibility helps maintain portfolio credit quality across different market conditions. It's important to note that a portion of each distribution may come from sources other than net investment income, such as capital gains or return of capital, and final tax characteristics are determined at the end of the fiscal year.
Blackstone is recognized as the world's largest alternative asset manager, with a vast portfolio that includes private equity, real estate, credit, infrastructure, life sciences, and more. Blackstone Credit, a key segment, focuses on generating attractive risk-adjusted returns across the corporate credit market, supporting a wide array of companies globally.
Investors interested in BGB can place orders through intermediaries or brokers. For more information, they can contact the Funds at 1 (877) 299-1588 or visit the Funds' website for further details.
Blackstone Credit & Insurance announced key leadership changes for its three closed-end funds (BSL, BGX, and BGB). Robert Zable resigned as Trustee, Chairman, President, and CEO, with Daniel Leiter appointed to these positions. Marisa Beeney stepped down as Chief Legal Officer and Secretary, replaced by Kevin Michel. Portfolio management changes include Robert Zable and Gordon McKemie stepping down, while Daniel McMullen and Meghan Fornshell became new portfolio managers, with Robert Post remaining. The funds' strategies, investment objectives, and policies will remain unchanged.
Blackstone Credit & Insurance has announced monthly distributions for three closed-end funds it advises: Blackstone Senior Floating Rate 2027 Term Fund (BSL), Blackstone Long-Short Credit Income Fund (BGX), and Blackstone Strategic Credit 2027 Term Fund (BGB). The distributions are set at $0.114, $0.101, and $0.093 per share respectively.
Key dates for these distributions are:
- Ex-Date: Sept 23, Oct 24, Nov 21, 2024
- Record Date: Sept 23, Oct 24, Nov 21, 2024
- Payable Date: Sept 30, Oct 31, Nov 29, 2024
The funds employ a dynamic distribution strategy, allowing for flexibility in maintaining portfolio credit quality and reducing the need for income reserves. Distributions may come from various sources, including short-term capital gain, long-term capital gain, or return of capital.
Blackstone Credit & Insurance announced corrected ex-dividend dates for its three closed-end funds: 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 ex-dividend date has been adjusted one day later than previously announced.
The new ex-dividend dates are June 21, 2024, July 24, 2024, and August 23, 2024. The corrected monthly distribution per share is $0.114 for BSL, $0.105 for BGX, and $0.101 for BGB. Payable dates are June 28, 2024, July 31, 2024, and August 30, 2024.
These distributions are aligned with each fund's average monthly net income and may vary quarterly. A portion of these distributions might come from sources other than net investment income. Final tax characteristics will be determined after the fiscal year's end. Blackstone Credit & Insurance aims to maintain portfolio credit quality and provide flexibility in varying market conditions.
Blackstone Credit & Insurance, an affiliate of Blackstone Alternative Credit Advisors, declared monthly distributions for three of its listed closed-end funds: 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).
The distribution amounts per share are $0.114 for BSL, $0.105 for BGX, and $0.101 for BGB. The ex-dates are June 20, July 23, and August 22, 2024, with corresponding record dates on June 21, July 24, and August 23, and payable dates on June 28, July 31, and August 30, 2024.
The distribution amounts typically vary each quarter based on the Funds' average monthly net income. A portion of these distributions may be sourced from short-term capital gain, long-term capital gain, or return of capital. The final tax characteristics will be determined post fiscal year-end.
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