Blackstone / GSO Senior Floating Rate Term Fund
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- Blackstone Senior Floating Rate 2027 Term Fund (BSL) is a diversified, closed-end management investment company that seeks high current income, with a secondary objective of preservation of capital. The Fund, managed by GSO / Blackstone Debt Funds Management LLC, a division of Blackstone Liquid Credit Strategies LLC, primarily invests at least 80% of its managed assets in senior secured, floating rate loans issued by U.S. corporations, partnerships, and other business entities, with a focus on below-investment-grade securities across the maturity spectrum while maintaining an average duration of less than one year. It may also allocate to second-lien loans, high-yield bonds, and collateralized loan obligations (CLOs), employing a research-driven credit analysis approach to select securities offering attractive risk-return profiles; top holdings as of September 30, 2025, include first-lien loans to issuers such as Global Medical Response Inc., Allied Universal Holdco LLC, and Action Environmental Group, Inc., alongside CLO positions like Columbia Cent CLO 34, Ltd. Launched on May 26, 2010, and listed on the New York Stock Exchange under the ticker BSL, the Fund is headquartered in New York and operates principally in the U.S. fixed income markets, targeting institutional and retail investors seeking income from leveraged loans in diversified sectors including healthcare, services, technology, and consumer industries. In recent developments, the Fund changed its name to Blackstone Senior Floating Rate 2027 Term Fund in February 2023 to specify its 2027 term structure, following prior shareholder-approved term extensions. Management updates in November 2024 included announcements of changes to trustees, officers, and the portfolio management team; ongoing monthly distributions continue, with declarations in December 2025 at $0.084 per share amid a leverage ratio of approximately 32% and net assets around $274 million. The Fund utilizes borrowings under a credit facility for leverage and maintains a portfolio with an average all-in rate of about 5.15% and average maturity of 4.8 years as of recent snapshots.