BLACKROCK DEBT STRATEGIES FUND, INC. (DSU) reported an initial statement of beneficial ownership on Form 3 for Francis C. Mahoney, who is identified as a director of the fund. The filing shows no reportable transactions and no reportable holdings at the time of this initial filing.
BLACKROCK DEBT STRATEGIES FUND, INC. identifies Charles Park as its Chief Compliance Officer. He previously held this role from June 6, 2014 to June 30, 2023 and has been reappointed effective August 1, 2026. No stock transactions or holdings are reported for him in this insider statement.
First Trust Portfolios L.P., First Trust Advisors L.P. and The Charger Corporation report beneficial ownership of 3,270,682 shares (5.16%) of Common stock of BlackRock Debt Strategies Fund, Inc. The filing states these shares are held with shared dispositive power and that the reporting persons disclaim beneficial ownership. The report cites 03/31/2026 as the relevant date and lists CUSIP 09255R202.
BlackRock Debt Strategies Fund, Inc. delivers its Form N-CSR certified shareholder report covering the fiscal period ended 12/31/2025, including supplemental distribution detail and managed distribution plan terms for five BlackRock closed‑end funds.
The report lists each Fund's annualized distribution per share (for DSU $1.184760), current monthly fixed distribution (for DSU $0.098730), and reported leverage levels (DSU 15%) as of 12/31/2025. It also summarizes portfolio composition, credit allocations, performance returns, and risks related to leverage and derivatives.
BlackRock Debt Strategies Fund, Inc. filed Post-Effective Amendment No. 1 to its Form N-2 registration statement under Rule 462(d), solely to add and update exhibits without changing any other part of the existing registration.
The amendment incorporates by reference the fund’s 2024 annual report and 2025 semi-annual report, details a broad set of organizational, advisory, credit, and fund-of-funds agreements, and files new forms of distribution and sub-placement agent agreements. It also lists estimated offering-related expenses totaling $203,458.60 and notes 188 record holders of common shares as of January 15, 2026. Extensive charter and bylaw provisions describing indemnification and liability protections for directors and officers are summarized, along with references to joint D&O/E&O insurance coverage.
BlackRock Debt Strategies Fund, Inc. is offering up to 30,000,000 common shares through an at-the-market program, with UBS Securities LLC acting as sub-placement agent under a distribution agreement with an affiliated BlackRock distributor.
The shares must be sold at prices at or above current net asset value (NAV) plus selling commissions. As of February 3, 2026, NAV was $10.00 per share and the NYSE market price was $10.18, a 1.80% premium. Assuming all shares are sold at $10.18, the Fund estimates net proceeds of about $302,142,215 after a 1.00% sales load and offering costs.
The Fund intends to invest net proceeds in line with its strategy of holding primarily below‑investment‑grade corporate loans and other debt, aiming to deploy capital within roughly three to six months. Pending deployment, proceeds may be placed in short-term investment grade or money market instruments and may also help fund the Fund’s level monthly distribution policy, which can include return of capital.
BlackRock Debt Strategies Fund, Inc. is registering up to 30,000,000 common shares and related subscription rights under a shelf prospectus. The NYSE-listed closed-end fund (symbol DSU) invests mainly in lower-rated corporate debt and loans to seek current income, with capital appreciation as a secondary goal.
As of January 28, 2026, the Fund had 62,847,647 common shares outstanding, net assets of about $630.5 million and a net asset value of $10.03 per share versus a $10.18 market price. It currently employs bank credit-facility leverage equal to 15.20% of Managed Assets and targets investing new proceeds within roughly three to six months.
The Fund estimates total annual operating expenses of 1.72% of net assets attributable to common shares and uses a level monthly distribution plan that can include income, capital gains and return of capital. Common shares may be sold directly, through underwriters, or via rights offerings, generally at or above NAV except for certain qualifying rights offerings.