Blackstone/GSO Strategic Credit Fund Closes its Credit Facility with the Bank of Nova Scotia
December 21, 2012 at 01:52 pm EST
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Blackstone/GSO Strategic Credit Fund announced the closing of its credit facility with the Bank of Nova Scotia. The credit facility provides availability of up to $425 million. Assuming the facility is fully drawn, the total Fund size could be $1.28 billion based on the current net asset value.
The Fund will use the proceeds of the facility to purchase additional assets for the portfolio.
Blackstone Strategic Credit 2027 Term Fund (the Fund) is a diversified, closed-end management investment company. The Fundâs 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. The Fund will seek to achieve its investment objectives by investing primarily in a diversified portfolio of loans and other fixed income instruments of predominantly United States corporate issuers, including first- and second lien secured loans (Senior Secured Loans) and high yield corporate bonds of varying maturities. Under normal market conditions, at least 80% of its Managed Assets will be invested in credit investments comprised of corporate fixed income instruments and other investments (including derivatives) with similar economic characteristics. The Fund's adviser is Blackstone Liquid Credit Strategies LLC.
BLACKSTONE STRATEGIC CREDIT 2027 TERM FUND 
