Blackstone / GSO Senior Floating Rate Term Fund shareholders approve term extension
Shareholders of the Blackstone / GSO Senior Floating Rate Term Fund (NYSE: BSL) approved extending the Fund's term by two years, moving its scheduled dissolution date from May 31, 2020 to May 31, 2022. The Fund's investment adviser and administrator also agreed to lower their fees until the new dissolution date, which would reduce costs paid from Fund assets.
- Scheduled dissolution date moves from May 31, 2020 to May 31, 2022.
- Adviser's annual management fee falls from 1.00% to 0.90% of managed assets, effective November 17, 2017 through May 31, 2022.
- Administrative fee payable to ALPS Fund Services falls from 0.10% to 0.09% of managed assets, subject to a minimum annual fee, effective November 17, 2017 through May 31, 2022.