Blackstone/GSO Fund Close Bank of Nova Scotia Facility
Blackstone/GSO Strategic Credit Fund (BGB) 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.
BGB principally invests in credit investments and has a dynamic strategy that provides for flexibility to invest between secured loans or high yield bonds in any ratio, pursuant to the outlook of GSO/Blackstone Debt Funds Management, the fund’s investment adviser. As of December 19th, the fund is allocated 77% to secured loans and 23% to high yield bonds.