Blackstone Credit & Insurance Closed-End Funds Declare Monthly Distributions

Rhea-AI Summary

Blackstone Credit & Insurance has announced monthly distributions for three listed closed-end funds: 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 $0.108 per share for BSL, $0.097 for BGX, and $0.089 for BGB.

The distributions will be payable with ex-dates and record dates of December 23, 2024, for the first two payments, and February 21, 2025, for the third payment. Payment dates are scheduled for December 31, 2024, January 31, 2025, and February 28, 2025, respectively.

The funds employ a dynamic distribution strategy that adjusts monthly distribution amounts quarterly based on recent average monthly net income, allowing for better portfolio credit quality management in varying market conditions.

NEW YORK, Dec. 13, 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	$ 0.108
BGX	Long-Short Credit Income Fund	$ 0.097
BGB	Strategic Credit 2027 Term Fund	$ 0.089

Ex-Date:	December 23, 2024	December 23, 2024	February 21, 2025
Record Date:	December 23, 2024	December 23, 2024	February 21, 2025
Payable Date:	December 31, 2024	January 31, 2025	February 28, 2025

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 & Insurance 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 private investment grade, asset based lending, public investment grade and high yield, sustainable resources, infrastructure debt, collateralized loan obligations, direct lending and opportunistic 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.

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--insurance-closed-end-funds-declare-monthly-distributions-302331682.html

SOURCE Blackstone

FAQ

What are the latest distribution amounts for Blackstone Strategic Credit Fund (BGB)?

Blackstone Strategic Credit Fund (BGB) declared a monthly distribution of $0.089 per share.

When is the next distribution payment date for BGB shares?

The next distribution payment date for BGB shares is February 28, 2025, with an ex-date and record date of February 21, 2025.

How does Blackstone's dynamic distribution strategy work for these funds?

The dynamic distribution strategy adjusts monthly distribution amounts quarterly based on each fund's recent average monthly net income, allowing for better portfolio management in varying market conditions.

What are the tax implications of BGB's monthly distributions?

The distributions may be treated as coming from various sources including net investment income, short-term capital gain, long-term capital gain, or return of capital. Final tax characteristics will be determined at the fund's fiscal year-end and reported on Form 1099-DIV.

How frequently are distributions declared for BGB and other Blackstone funds?

The funds declare monthly distributions each quarter, with the amounts typically varying quarter-to-quarter based on the fund's recent performance.