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 $17.60 (as of its close on May 22, 2014), the
distributions represent an annualized yield of 7.16%.
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 76% 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: June 19, 2014
|
Record Date: June 23, 2014
|
Payable Date: June 30, 2014
|
Per Share Amount: $0.105
|
|
Ex-Date: July 22, 2014
|
Record Date: July 24, 2014
|
Payable Date: July 31, 2014
|
Per Share Amount: $0.105
|
|
Ex-Date: August 20, 2014
|
Record Date: August 22, 2014
|
Payable Date: August 29, 2014
|
Per Share Amount: $0.105
|
|
Ex-Date: September 19, 2014
|
Record Date: September 23, 2014
|
Payable Date: September 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 $66 billion of assets under
management as of March 31, 2014, 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.
Copyright Business Wire 2014