Blackstone / GSO Strategic Credit Fund (the “Fund”) (NYSE: BGB)
announced the declaration of monthly distributions of $0.105 per common
share, payable on the dates noted below. Based on the Fund’s current
share price of $18.29 (as of its close on February 27, 2014), the
distributions represent an annualized yield of 6.89%. The Fund seeks to
pay stable distributions at rates that reflect net investment income
actually earned and the projected future performance. The distribution
change this month was made in order to better align the Fund’s
distribution rate with its current level of earnings.
BGB’s strategy provides the manager the flexibility to allocate between
floating rate loans and high yield bonds based on the manager’s view of
relative value. With an asset composition of just under 75% floating
rate loans, we believe that the Fund is well positioned to take
advantage of a potential rise in interest rates.
The following dates apply to the distributions declared:
Ex-Date: March 20, 2014
Record Date: March 24, 2014
Payable
Date: March 31, 2014
Per Share Amount: $0.105
Ex-Date: April 21, 2014
Record Date: April 23, 2014
Payable
Date: April 30, 2014
Per Share Amount: $0.105
Ex-Date: May 20, 2014
Record Date: May 22, 2014
Payable Date:
May 30, 2014
Per Share Amount: $0.105
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 of these distributions will be made after
the Fund’s year end.
The amounts and sources of distributions reported are only estimates and
are not provided for tax reporting purposes. The actual amounts and
sources of the amounts for tax reporting purposes will depend upon the
Fund’s investment experience during the remainder of its fiscal year and
may be subject to changes based on tax regulations. The 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 / GSO Strategic Credit Fund
The Fund is a non-diversified, closed-end management investment company
that is managed by GSO / Blackstone Debt Funds Management LLC, a
subsidiary of The Blackstone Group L.P. and subsidiary of GSO Capital
Partners LP. The Fund’s primary investment objective is to seek high
current income, with a secondary objective to seek preservation of
capital, consistent with its primary goal of high current income. There
can be no assurance the Fund will achieve its investment objectives.
Additional information is available at www.blackstone-gso.com/bgb-index.php.
About The Blackstone Group and GSO Capital Partners
Blackstone is one of the world’s leading investment and advisory firms.
We seek to create positive economic impact and long-term value for our
investors, the companies we invest in, the companies we advise and the
broader global economy. We do this through the commitment of our
extraordinary people and flexible capital. Our credit business, GSO
Capital Partners LP, with approximately $65 billion of assets under
management as of December 31, 2013, is one of the largest
credit-oriented alternative asset managers in the world and a major
participant in leveraged finance. GSO specializes in collateralized loan
obligation vehicles (CLOs) and credit-oriented funds, which include
leveraged loans, special situations, mezzanine, distressed, secondary
market and rescue financing credit strategies. Our other alternative
asset management businesses include the management of private equity
funds, real estate funds, hedge fund solutions and closed-end funds.
Blackstone also provides various financial advisory services, including
financial and strategic advisory, restructuring and reorganization
advisory and fund placement services.
Further information is available at www.blackstone.com.
Follow us on Twitter @Blackstone.
Blackstone / GSO Strategic Credit Fund is a closed-end fund and
closed-end funds do not continuously issue shares for sale as open-end
mutual funds do. Since its initial public offering, the Fund has traded
on the New York Stock Exchange under the symbol BGB. Investors
wishing to buy or sell shares need to place orders through an
intermediary or broker.
Contact the Fund at 1-877-299-1588 or visit the Fund’s website at www.blackstone-gso.com/bgb-index.php
for additional information.
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