NEW
YORK, Feb. 23, 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 name
changes for two listed closed-end funds it advises. The name
changes are being made to clarify the limited terms already in
place for the funds, which are both anticipated to be dissolved in
2027.
Blackstone Senior Floating Rate Term Fund (NYSE: BSL) and
Blackstone Strategic Credit Fund (NYSE: BGB) (each a "Fund" and
together the "Funds") are being renamed to "Blackstone Senior
Floating Rate 2027 Term Fund" and "Blackstone Strategic Credit 2027
Term Fund", respectively, effective March 6,
2023.
BSL's limited term ends on May 31,
2027, and BGB's limited term ends on September 15, 2027. Blackstone Credit expects that the Funds will
work toward wind-downs on or around those dates and intends to
manage the Funds accordingly. In the event there are extraordinary
market conditions that warrant an extension of either Fund's term
beyond 2027, both Board of Trustee and shareholder approval would
be required to extend such Fund's term. No change is currently
being made to either Fund's investment objective and strategy, nor
in Fund management. There will be no changes to the Funds' ticker
symbols on the New York Stock Exchange.
About 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 $975 billion in assets under management include
investment vehicles focused on private equity, real estate, public
debt and equity, infrastructure, life sciences, growth equity,
opportunistic, non-investment grade credit, real assets 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, with $246 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.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/blackstone-credit-announces-name-changes-for-two-closed-end-funds-to-specify-2027-term-in-name-301754716.html
SOURCE Blackstone