Blackstone Credit Closed-End Funds Declare Monthly Distributions

Rhea-AI Summary

Blackstone Liquid Credit Strategies LLC (NYSE: BSL), an affiliate of Blackstone Alternative Credit Advisors LP, declared monthly distributions for three listed 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 monthly distribution per share for each fund is $0.114, $0.103, and $0.094 respectively. The ex-date, record date, and payable date for the distributions are also provided. The dynamic distribution strategy allows Blackstone Credit to maintain portfolio credit quality in varying market conditions and reduces the need to retain reserves from net investment income to support the stability of future distributions.

Positive

• Monthly distributions declared for three listed closed-end funds
• Dynamic distribution strategy provides flexibility to maintain portfolio credit quality
• Blackstone Credit is one of the world's largest credit-focused asset managers with $297 billion in AUM

Negative

• None.

NEW YORK, Dec. 11, 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	$ 0.114
BGX	Long-Short Credit Income Fund	$ 0.103
BGB	Strategic Credit 2027 Term Fund	$ 0.094

 

Ex-Date:	December 20, 2023	December 28, 2023	February 21, 2024
Record Date:	December 21, 2023	December 29, 2023	February 22, 2024
Payable Date:	December 29, 2023	January 31, 2024	February 29, 2024

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 $297 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

FAQ

What are the ticker symbols for the three listed closed-end funds declared monthly distributions by Blackstone Liquid Credit Strategies LLC?

The ticker symbols are BSL, BGX, and BGB for Blackstone Senior Floating Rate 2027 Term Fund, Blackstone Long-Short Credit Income Fund, and Blackstone Strategic Credit 2027 Term Fund respectively.

What are the monthly distribution per share for the three funds?

The monthly distribution per share for each fund is $0.114 for BSL, $0.103 for BGX, and $0.094 for BGB.

What are the ex-date, record date, and payable date for the distributions?

The ex-date for the distributions are December 20, 2023, December 28, 2023, and February 21, 2024. The record date are December 21, 2023, December 29, 2023, and February 22, 2024. The payable date are December 29, 2023, January 31, 2024, and February 29, 2024.

What is the purpose of the dynamic distribution strategy mentioned in the press release?

The dynamic distribution strategy allows Blackstone Credit to maintain portfolio credit quality in varying market conditions and reduces the need to retain reserves from net investment income to support the stability of future distributions.

How much AUM does Blackstone Credit have?

Blackstone Credit is one of the world's largest credit-focused asset managers with $297 billion in AUM.

How can investors buy or sell shares of the funds?

Investors wishing to buy or sell shares need to place orders through an intermediary or broker.