NEW
YORK, June 11, 2024 /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 &
Insurance"), 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
|
$ 0.105
|
BGB
|
Strategic Credit 2027
Term Fund
|
$ 0.101
|
Ex-Date:
|
June 20,
2024
|
July 23,
2024
|
August 22,
2024
|
Record
Date:
|
June 21,
2024
|
July 24,
2024
|
August 23,
2024
|
Payable
Date:
|
June 28,
2024
|
July 31,
2024
|
August 30,
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 & Insurance
Blackstone is the world's largest alternative asset manager. We
seek to deliver compelling returns for institutional and individual
investors by strengthening the companies in which we invest. Our
more than $1 trillion in assets under
management include global investment strategies focused on real
estate, private equity, infrastructure, life sciences, growth
equity, credit, real assets, secondaries and hedge funds. Further
information is available at www.blackstone.com. Follow @blackstone
on LinkedIn, X (Twitter), and Instagram.
Blackstone Credit & Insurance
("BXCI") is one of the world's leading credit investors. Our
investments span the credit markets, including direct lending,
opportunistic, CLOs, high yield, infrastructure and asset based
credit. We seek to generate attractive risk-adjusted returns for
institutional and individual investors by offering companies
capital needed to strengthen and grow their businesses. BXCI is
also a leading provider of investment management services for
insurers, helping those companies better deliver for policyholders
through our world-class capabilities in investment grade private
credit.
Investors wishing to buy or sell shares need to place orders
through an intermediary or broker.
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SOURCE Blackstone