BlackRock Floating Rate Income Strategies Fund, Inc. announces an Equity Buyback.
September 27, 2021 at 05:00 am
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BlackRock Floating Rate Income Strategies Fund, Inc. announces a share repurchase program. Under the program, the company will repurchase up to 5% of its outstanding common shares. The repurchase will commence on December 1, 2021 and will expire on November 30, 2022.
BlackRock Floating Rate Income Strategies Fund, Inc. is a closed-end management investment company. The Fund's investment objective is to provide shareholders with high current income and such preservation of capital as is consistent with investment in a diversified, leveraged portfolio consisting primarily of floating rate debt securities and instruments. It seeks to achieve its investment objective by investing at least 80% of its managed assets in floating rate debt securities, including floating or variable rate debt securities that pay interest at rates that adjust whenever a specified interest rate changes and/or which reset on predetermined dates. It invests a substantial portion of its investments in floating rate debt securities consisting of secured or unsecured senior floating rate loans that are rated below investment grade or, if unrated, are considered by the investment advisor to be of comparable quality. The Fund's investment advisor is BlackRock Advisors, LLC.