BGB: Discount Widens On Term Fund With Institutional CEF Investor Taking A Stake

Blackstone Strategic Credit 2027 Term offers a widened discount exceeding 5.5%, now above our "Buy" threshold, prompting an upgrade. BGB's term structure and anticipated 2027 liquidation create a tactical opportunity, with a recent investment from a large institutional CEF investment group. The fund's floating-rate, senior secured loan portfolio provides diversification but carries leveraged below-investment-grade credit risk.