NEW
YORK, Dec. 12, 2022 /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 The Blackstone
Group, Inc., "Blackstone Credit"),
announced monthly distributions for the three listed closed-end
funds it advises, Blackstone Senior Floating Rate Term Fund (NYSE:
BSL), Blackstone Long-Short Credit Income Fund (NYSE: BGX), and
Blackstone Strategic Credit 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
Term Fund
|
$ 0.100
|
|
BGX
|
Long-Short Credit
Income Fund
|
$ 0.095
|
|
BGB
|
Strategic Credit
Fund
|
$ 0.085
|
|
Ex-Date:
|
December 21,
2022
|
January 23,
2023
|
February 17,
2023
|
|
Record
Date:
|
December 22,
2022
|
January 24,
2023
|
February 21,
2023
|
|
Payable
Date:
|
December 30,
2022
|
January 31,
2023
|
February 28,
2023
|
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.
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 $951 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 $234 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.
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SOURCE Blackstone
