Welcome to our dedicated page for Blackstone Senior Floating Rate 2027 Term Fund news (Ticker: BSL), a resource for investors and traders seeking the latest updates and insights on Blackstone Senior Floating Rate 2027 Term Fund stock.
Blackstone Senior Floating Rate 2027 Term Fund (NYSE: BSL) is a diversified, closed-end management investment company managed by Blackstone Liquid Credit Strategies LLC, an affiliate of Blackstone Alternative Credit Advisors LP. The Fund's primary goal is to seek high current income, with a secondary objective of capital preservation.
The Fund primarily invests in senior secured floating rate loans, second-lien loans, and high yield bonds. This diversified investment strategy aims to provide steady income while managing risk through financial leverage. The Fund leverages Blackstone's substantial expertise and vast network to navigate complex credit markets and identify attractive investment opportunities.
Recent Achievements and Developments: Recently, the Fund announced changes in its Trustee and Officer positions. Effective January 1, 2024, Robert Zable has been appointed as Trustee, Chairman of the Boards of Trustees, President, and Chief Executive Officer, succeeding Daniel H. Smith. Additionally, Robert Post has been appointed as Executive Vice President and Assistant Secretary.
Dynamic Distribution Strategy: The Fund's dynamic distribution strategy provides flexibility to adjust monthly distributions based on the Fund's recent average monthly net income. This approach allows the Fund to maintain portfolio credit quality in various market conditions and reduces the need to retain reserves from net investment income, ensuring more consistent distributions to shareholders.
With its robust management team and strategic investment approach, Blackstone Senior Floating Rate 2027 Term Fund aims to deliver attractive returns while preserving capital for its investors. For further information, investors can contact the Funds at 1 (877) 299-1588 or visit the Funds' website.
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.
Blackstone Liquid Credit Strategies LLC announced on February 23, 2023 that two of its closed-end funds will undergo name changes effective March 6, 2023. The Blackstone Senior Floating Rate Term Fund (NYSE: BSL) will be renamed to Blackstone Senior Floating Rate 2027 Term Fund, and the Blackstone Strategic Credit Fund (NYSE: BGB) will become Blackstone Strategic Credit 2027 Term Fund. Both funds are set to dissolve in 2027, with BSL terminating on May 31, 2027 and BGB on September 15, 2027.
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