Blackstone Senior Floating Rate 2027 Term Fund (BSL)
BSL 8-K filings, explained
Every material Form 8-K Blackstone Senior Floating Rate 2027 Term Fund has filed with the SEC since March 31, 2017, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Shareholders of the Fund approved extending its term by five years, moving the scheduled dissolution date from May 31, 2022 to May 31, 2027, and approved a charter amendment allowing future extensions longer than two years. The Adviser and ALPS Fund Services will keep their reduced management and administrator fees in place until May 31, 2027, and the Fund may repurchase up to 15% of outstanding shares if they trade at a sustained discount to NAV.
Scheduled dissolution date moves from May 31, 2022 to May 31, 2027
Management and administrator fees remain at reduced rates until May 31, 2027
Fund may repurchase up to 15% of outstanding shares in the open market if shares trade at a sustained discount to NAV
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.
The fund extended its reinvestment period, allowing it to keep reinvesting proceeds from maturities, prepayments and sales until one year before its scheduled May 31, 2020 dissolution date. The adviser said that without the extension, loan repayments could have forced the fund to liquidate holdings early, and shareholders will not receive liquidating distributions until at least the end of the extended period.
Reinvestment period now runs until one year before the May 31, 2020 scheduled dissolution date, which remains unchanged.
The Board of Trustees approved the extension on the recommendation of the adviser, GSO / Blackstone Debt Funds Management LLC.
Loan repayments across the market totaled 49% of outstanding loans over the last three months, annualized, as of February month end.
Shareholders will not begin receiving liquidating distributions until at least the end of the extended reinvestment period.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Blackstone Senior Floating Rate 2027 Term Fund filing is on SEC EDGAR ↗. 8-K briefs of other companies →