BSL Stock Recent News

With rates higher for longer, income vehicles that benefit from higher interest rates are still attractive. Blackstone Senior Floating Rate 2027 Term Fund offers a 9.76% yield with monthly distributions. The BSL closed-end fund focuses on high current income and capital preservation, with diversified holdings and outperformance in certain years.

NEW YORK , June 12, 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"), recently 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 ex-dividend dates in the prior press release announcing these distributions were incorrect and have been corrected below, with each ex-dividend date being adjusted to one day later than what was previously announced.

Blackstone Senior Floating Rate 2027 Term Fund is a leveraged loan CEF. BSL has a wide discount to net asset value but a stable NAV performance that compares favorably with 'golden standards' in the leveraged loan space which trade flat to NAV. The fund's dividend yield is fully covered, and the collateral pool is well-diversified.

We review CEF market valuation and performance through the third week of September and highlight recent market action. Most sectors saw NAV gains, but discounts widened, particularly in the Covered Call and Equity sectors. Invesco trimmed distributions on many CEFs including IHIT, potentially indicating a termination of this CMBS 2023 term fund.

We review CEF market valuation and performance through the third week of May and highlight recent market action. CEFs were mostly down on the week as rising Treasury yields were the key headwind.

Blackstone Senior Floating Rate Term Fund is a fixed income CEF. The vehicle focuses on floating rate loans.

BSL yields 9.53% and pays monthly. Management has raised the monthly dividends three times in the past five months. BSL and some other floating rate funds are selling at deeper than historic discounts, even though they're raising the monthly distributions.