The non-traded BDC reduced its revolver to $975 million to lower borrowing costs and align with its target leverage.
Repurchase requests in the $4.3 billion private debt fund have now fallen for two consecutive quarters, more than halving from 8.5% in Q1 to 3.8% in Q3.
The non-traded BDC completed another private placement offering, with proceeds earmarked to repay existing debt, including its 3.125% notes due later this month.
The $25 billion HPS Corporate Lending Fund has once again limited withdrawals after repurchase requests hit ~11.5% of outstanding shares.
Managing Director Jason Mehring will replace Tseng as Director, Board Chair, and CEO across three BlackRock BDCs.
Alternative Credit Income Fund's 5% quarterly repurchases would pause for a year before the merged company begins discretionary 2.5% tenders.
