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BSL - BGB: Why I'm Passing On This Fully Covered 11% Yield From A Discounted Term CEF
Blackstone GSO Senior Floating Rate Term Fund of Beneficial Interest
Author's note: This article was released to Income Lab members on May 23, 2020, and data are from that date.
In this short note, I'd like to take a quick look at Blackstone/GSO Strategic Credit Fund (BGB), the third-ranked DxYxZ fund from our latest "Quality" Closed-End Fund Report. As of May 29, BGB sported with a discount of -12.48%, a yield of 10.98%, and a 1-year z-score of -1.3. It charges a baseline expense ratio of 2.18% and the distribution is 108% covered according to its latest annual report number. It has