Blackstone / GSO Secured Lending Fund — Form 8-K Summary
Business Context and Reporting Period
The filing is a current report dated August 13, 2019, filed under Item 5.03 and relating to amendments to the fund’s governing documents. The filing was signed on August 19, 2019. No financial reporting period or operating results is presented.
Material Corporate Action
On August 13, 2019, the Board of Trustees adopted a Third Amended and Restated Agreement and Declaration of Trust. The fund’s investment adviser is GSO Asset Management LLC.
- The definition of the “Initial Closing Period” was revised to permit the adviser, with Board approval, to extend the initial 12-month period up to two times, with each extension lasting up to one year.
- If the fund has not completed an Exchange Listing, the deadline to use commercially reasonable efforts to wind down was revised to the earlier of: the five-year anniversary of the end of the Initial Drawdown Period, subject to a possible one-year extension recommended by the adviser and approved by the Board; or the ten-year anniversary of the initial closing date.
- The filing states that other changes were immaterial.
Financial Metrics, Liquidity, and Outlook
The filing does not provide revenue, profit, cash flow, margins, debt, liquidity, portfolio, valuation, distribution, or other financial metrics. It also does not provide financial guidance or operating outlook.
Risks, Contingencies, and Unusual Items
The amended wind-down provisions create additional timing flexibility for the Initial Closing Period and may permit the fund to continue before an Exchange Listing for a longer period, subject to the stated limits and required approvals. The filing does not describe additional risk factors or contingencies.
Important Facts to Verify
- Review Exhibit 3.1 for the complete terms of the Third Amended and Restated Agreement and Declaration of Trust.
- Verify the dates and conditions governing any Initial Closing Period extensions.
- Verify the applicable Exchange Listing and wind-down deadlines, including any one-year extension.
- Confirm that no financial results or guidance were included because this filing concerns governance amendments rather than operating performance.