N-Q 1 d592848dnq.htm BLACKROCK FLOATING RATE INCOME TRUST BlackRock Floating Rate Income Trust

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-21566

Name of Fund:  BlackRock Floating Rate Income Trust (BGT)

Fund Address:   100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service:  John M. Perlowski, Chief Executive Officer, BlackRock Floating Rate Income Trust, 55 East 52nd Street, New York, NY 10055

Registrant’s telephone number, including area code:  (800) 882-0052, Option 4

Date of fiscal year end: 10/31/2013

Date of reporting period: 07/31/2013

Item 1 – Schedule of Investments

Consolidated Schedule of Investments July 31, 2013 (Unaudited)

   

BlackRock Floating Rate Income Trust (BGT)

(Percentages shown are based on Net Assets)

 

Asset-Backed Securities   

Par 

(000)

     Value  

ACAS CLO Ltd., Series 2012-1A, Class D, 5.12%, 9/20/23 (a)(b)

    USD 750      $ 746,250   

Apidos CDO XI, Series 2012-11A, Class D, 4.52%, 1/17/23 (a)(b)

      500        491,750   

Atrium CDO Corp., Series 9A, Class D, 3.96%, 2/28/24 (a)(b)

      500        467,250   

Carlyle Global Market Strategies CLO Ltd. (a)(b):

     

Series 2012-4A, Class D, 4.77%, 1/20/25

      450        450,000   

Series 2013-1A, Class C, 4.29%, 2/14/25

      250        241,903   

Cavalry CLO Ltd., Series 2A, Class D, 4.27%, 1/17/24 (a)(b)

      500        480,000   

Cent CLO LP, Series 2013-17A, Class C, 3.79%, 1/30/25 (a)(b)

      500        467,235   

Fraser Sullivan CLO VII Ltd., Series 2012-7A, Class C, 4.27%, 4/20/23 (a)(b)

      575        559,257   

Goldentree Loan Opportunities VI Ltd., Series 2012-6A, Class D, 4.47%, 4/17/22 (a)(b)

      950        934,705   

Highbridge Loan Management Ltd., Series 2012-1A, Class C, 5.27%, 9/20/22 (a)(b)

      925        925,000   

ING Investment Management, Series 2012-2A, Class D, 4.82%, 10/15/22 (a)(b)

      950        952,565   

LCM XI LP, Series 11A, Class D2, 4.22%, 4/19/22 (a)(b)

      1,000        967,500   

Marea CLO Ltd., Series 2012-1A, Class D, 4.82%, 10/16/23 (a)(b)

      1,000        997,000   

North End CLO, Ltd. 2013-1, 3.77%, 7/17/25 (a)(b)(c)

      500        474,900   

OZLM Funding Ltd. (a)(b):

     

Series 2012-2A, Class C, 4.62%, 10/30/23

      500        487,450   

Series 2013-3A, Class C, 4.17%, 1/22/25

      250        240,400   

Race Point VI CLO Ltd., Series 2012-6A, Class D, 4.77%, 5/24/23 (a)(b)

      675        675,000   

Symphony CLO Ltd. (a)(b):

     

Series 2012-10A, Class D, 5.51%, 7/23/23

      925        931,937   

Series 2012-9A, Class D, 4.52%, 4/16/22

      775        763,452   

West CLO Ltd., Series 2012-1A, Class C, 5.02%, 10/30/23 (a)(b)

      845        847,729   
Total Asset-Backed Securities — 3.7%        13,101,283   
Common Stocks  

    

Shares

     Value  

Auto Components — 0.0%

  

Lear Corp.

     402      $ 27,847   

Construction & Engineering — 0.0%

  

USI United Subcontractors

     8,067        8,067   

Hotels, Restaurants & Leisure — 0.4%

  

BLB Worldwide Holdings, Inc.

     50,832        1,448,712   

Metals & Mining — 0.1%

  

Euramax International

     1,135        227,040   

Paper & Forest Products — 0.3%

  

Ainsworth Lumber Co. Ltd. (d)

     220,483        729,863   

Ainsworth Lumber Co. Ltd. (a)(d)

     62,685        208,116   
   

 

 

  
              937,979   

Software — 0.3%

  

HMH Holdings/EduMedia

     41,612        1,175,540   
Total Common Stocks – 1.1%        3,825,185   
   
                 
Corporate Bonds  

Par 

(000)

         

Airlines — 0.6%

  

American Airlines Pass-Through Trust, Series 2011-2, Class A, 8.63%, 4/15/23

   USD 200        208,205   

Continental Airlines Pass-Through Trust, Series 2012-3, Class C, 6.13%, 4/29/18

     415        421,225   

US Airways 2012-2 Class C Pass Through Trust, 5.45%, 6/03/18

     1,585        1,505,750   
   

 

 

  
              2,135,180   

Auto Components — 0.2%

  

Icahn Enterprises LP, 8.00%, 1/15/18

     660        697,125   

Beverages — 0.6%

  

Refresco Group BV (b):

    

4.20%, 5/15/18

   EUR 1,000        1,331,680   

4.20%, 5/15/18 (a)

     500        665,840   
   

 

 

  
              1,997,520   

Building Products — 0.3%

  

Grohe Holding GmbH, 4.21%, 9/15/17 (a)(b)

     700        931,245   

Capital Markets — 0.2%

  

E*Trade Financial Corp., 0.00%, 8/31/19 (a)(e)(f)

   USD 439        632,709   

Commercial Banks — 1.2%

  

VTB Bank OJSC Via VTB Capital SA, 6.88%, 5/29/18

     3,940        4,225,650   

 

                
   BLACKROCK FLOATING RATE INCOME TRUST    JULY 31, 2013    1

Consolidated Schedule of Investments (continued)

   

BlackRock Floating Rate Income Trust (BGT)

(Percentages shown are based on Net Assets)

 

Corporate Bonds  

Par 

(000)

     Value  

Commercial Services & Supplies — 0.2%

  

AWAS Aviation Capital Ltd., 7.00%, 10/17/16 (a)

   USD 478      $ 495,369   

UR Merger Sub Corp., 5.75%, 7/15/18

     210        224,700   
   

 

 

  
              720,069   

Communications Equipment — 1.2%

  

Avaya, Inc., 7.00%, 4/01/19 (a)

     467        430,808   

Telenet Finance IV Luxembourg S.C.A.,
4.08%, 6/15/21 (b)

   EUR 1,500        1,997,680   

Zayo Group LLC/Zayo Capital, Inc.:

    

8.13%, 1/01/20

   USD 1,010        1,111,000   

10.13%, 7/01/20

     665        759,762   
   

 

 

  
              4,299,250   

Construction & Engineering — 0.1%

  

Safway Group Holding LLC/Safway Finance Corp., 7.00%, 5/15/18 (a)

     237        238,185   

Consumer Finance — 0.3%

  

Inmarsat Finance PLC, 7.38%, 12/01/17 (a)

     1,015        1,068,288   

Containers & Packaging — 2.3%

  

Ardagh Packaging Finance PLC:

    

7.38%, 10/15/17

   EUR 300        425,047   

7.38%, 10/15/17 (a)

     400        566,729   

4.88%, 11/15/22 (a)

   USD 201        195,472   

GCL Holdings S.C.A., 9.38%, 4/15/18 (a)

   EUR 329        472,700   

Guala Closures SpA, 5.58%, 11/15/19 (b)

     1,500        2,017,974   

Smurfit Kappa Acquisitions:

    

7.25%, 11/15/17 (a)

     355        495,888   

7.75%, 11/15/19 (a)

     416        604,385   

3.72%, 10/15/20 (b)

     2,500        3,404,565   
   

 

 

  
              8,182,760   

Diversified Financial Services — 1.6%

  

Ally Financial, Inc. (b):

    

2.47%, 12/01/14

   USD 795        797,592   

2.95%, 7/18/16

     1,750        1,762,885   

Travelex Financing PLC, 8.00%, 8/01/18 (a)(c)

   GBP 2,000        3,023,637   
   

 

 

  
              5,584,114   

Energy Equipment & Services — 0.7%

  

CGG Veritas, 7.75%, 5/15/17

   USD 1,795        1,839,875   

FTS International Services LLC/FTS International Bonds, Inc., 8.13%, 11/15/18 (a)

     263        286,670   

Tervita Corp., 8.00%, 11/15/18 (a)

     369        382,376   
   

 

 

  
              2,508,921   

Health Care Equipment & Supplies — 1.2%

  

IDH Finance PLC, 5.51%, 12/01/18 (b)

   GBP   2,000        3,028,810   
Corporate Bonds  

Par 

(000)

     Value  

Health Care Equipment & Supplies (concluded)

  

Ontex IV SA, 4.34%, 4/15/18 (b)

   EUR   1,000      $ 1,317,046   
   

 

 

  
              4,345,856   

Health Care Providers & Services — 0.8%

  

Crown Newco 3 PLC, 7.00%, 2/15/18 (a)

   GBP 1,750        2,723,418   

Hotels, Restaurants & Leisure — 0.1%

  

Carlson Wagonlit BV, 6.88%, 6/15/19 (a)

   USD 200        207,250   

Household Durables — 0.6%

  

Berkline/Benchcraft LLC, 4.50%, 11/03/13 (d)(g)

     400        —   

Verisure Holding AB, 6.70%, 9/01/18 (b)

   EUR 1,500        2,025,458   
   

 

 

  
              2,025,458   

Independent Power Producers & Energy Traders — 1.0%

  

Energy Future Intermediate Holding Co. LLC:

    

10.00%, 12/01/20

   USD 2,525        2,733,312   

10.00%, 12/01/20 (a)

     585        631,800   
   

 

 

  
              3,365,112   

Media — 1.7%

  

NAI Entertainment Holdings LLC, 5.00%, 8/01/18 (a)(c)

     248        249,860   

Odeon & UCI Finco PLC, 5.23%, 8/01/18 (b)

   EUR 1,600        2,123,238   

Unitymedia Hessen GmbH & Co. KG, 8.13%, 12/01/17

     148        208,052   

Virgin Media Secured Finance PLC, 7.00%, 1/15/18

   GBP 1,197        1,902,879   

Ziggo Finance BV, 6.13%, 11/15/17 (a)

   EUR 1,005        1,387,139   
   

 

 

  
              5,871,168   

Oil, Gas & Consumable Fuels — 1.1%

  

EP Energy LLC/Everest Acquisition Finance, Inc., 6.88%, 5/01/19

   USD 385        411,950   

Petroleos de Venezuela SA, 5.25%, 4/12/17

     4,000        3,280,000   
   

 

 

  
              3,691,950   

Specialty Retail — 1.0%

  

DFS Furniture Holdings PLC, 6.51%, 8/15/18 (b)

   GBP 2,000        3,085,096   

House of Fraser Funding PLC, 8.88%, 8/15/18 (a)

     349        558,789   
   

 

 

  
              3,643,885   

Transportation Infrastructure — 0.3%

  

Aguila 3 SA, 7.88%, 1/31/18 (a)

   CHF 1,100        1,229,024   

Wireless Telecommunication Services — 1.1%

  

Matterhorn Mobile SA, 5.45%, 5/15/19 (b)

   EUR 3,000        4,030,960   
Total Corporate Bonds — 18.4%        64,355,097   

 

                
2    BLACKROCK FLOATING RATE INCOME TRUST    JULY 31, 2013   

Consolidated Schedule of Investments (continued)

   

BlackRock Floating Rate Income Trust (BGT)

(Percentages shown are based on Net Assets)

 

Floating Rate Loan Interests (b)   

Par 

(000)

     Value  

Aerospace & Defense — 1.2%

  

DigitalGlobe, Inc., New Term Loan B, 3.75%, 1/31/20

    USD   1,362      $ 1,371,800   

DynCorp International LLC, Term Loan B, 6.25%, 7/07/16

      385        389,043   

The SI Organization, Inc., Term Loan B, 5.50%, 11/22/16

      1,067        1,037,229   

Spirit Aerosystems, Inc., Term Loan B, 3.75%, 4/18/19

      958        965,538   

Transdigm, Inc., Term Loan C, 3.75%, 2/28/20

      517        519,340   
    

 

 

  
               4,282,950   

Airlines — 1.1%

  

Delta Air Lines, Inc.:

     

New Term Loan B, 4.25%, 10/18/18

      450        452,475   

Term Loan, 3.52%, 9/16/15

      888        847,898   

Northwest Airlines, Inc.:

     

Term Loan, 2.30%, 3/10/17

      316        292,063   

Term Loan, 2.30%, 3/10/17

      316        292,885   

Term Loan, 1.68%, 9/10/18

      268        236,898   

Term Loan, 1.68%, 9/10/18

      265        234,465   

Term Loan, 1.68%, 9/10/18

      264        233,653   

US Airways, Inc., Term Loan B-1, 4.25%, 5/23/19

      1,230        1,229,336   
    

 

 

  
               3,819,673   

Auto Components — 3.0%

  

Autoparts Holdings Ltd., 1st Lien Term Loan, 6.50%, 7/28/17

      1,591        1,539,677   

Federal-Mogul Corp.:

     

Term Loan B, 2.13% — 2.14%, 12/29/14

      3,426        3,376,402   

Term Loan C, 2.13% — 2.14%, 12/28/15

      1,428        1,407,123   

The Goodyear Tire & Rubber Co., New 2nd Lien Term Loan, 4.75%, 4/30/19

      1,705        1,716,918   

GPX International Tire Corp. (d)(g):

     

PIK Term Loan, 13.00%, 3/31/12

      4        —   

Term Loan, 12.25%, 3/30/12

      274        —   

Schaeffler AG, Term Loan C, 4.25%, 1/27/17

      270        272,700   

Transtar Holding Co., 1st Lien Term Loan, 5.50%, 10/09/18

      1,310        1,316,651   

UCI International, Inc., New Term Loan B, 5.50%, 7/26/17

      926        929,149   
    

 

 

  
               10,558,620   
Floating Rate Loan Interests (b)   

Par 

(000)

     Value  

Beverages — 0.0%

  

Le-Nature’s, Inc., Tranche B Term Loan, 0.00%, 3/01/11 (d)(g)

    USD   1,000      $ 100   

Biotechnology — 0.3%

  

Grifols, Inc., Term Loan B, 4.25%, 6/01/17

      864        871,645   

Building Products — 1.2%

  

Armstrong World Industries, Inc., New Term Loan B, 3.50%, 3/16/20

      608        610,757   

CPG International, Inc., Term Loan, 5.75%, 9/18/19

      1,935        1,941,820   

United Subcontractors, Inc., Term Loan, 4.28%, 6/30/15

      211        200,417   

Wilsonart International Holdings LLC, Term Loan B, 4.00%, 10/31/19

      1,547        1,545,771   
    

 

 

  
               4,298,765   

Capital Markets — 1.3%

  

American Capital Holdings, Inc., New Term Loan, 5.50%, 8/22/16

      1,395        1,400,817   

HarbourVest Partners LLC, Term Loan B, 4.75%, 11/21/17

      881        886,361   

Knight Capital Group, Inc., Term Loan B, 5.75%, 12/05/17

      1,155        1,146,338   

Nuveen Investments, Inc.:

     

New 2nd Lien Term Loan, 6.50%, 2/28/19

      436        435,455   

Incremental Term Loan, 4.19%, 5/13/17

      572        571,875   
    

 

 

  
               4,440,846   

Chemicals — 4.1%

  

AI Chem & Cy S.C.A.:

     

2nd Lien Term Loan, 8.25%, 4/03/20

      330        335,775   

Term Loan B1, 4.50%, 10/03/19

      599        603,630   

Term Loan B2, 4.50%, 10/03/19

      311        313,195   

American Rock Salt Holdings LLC, Term Loan, 5.50%, 4/25/17

      592        594,867   

Chemtura Corp., Exit Term Loan B, 5.50%, 8/27/16

      545        547,878   

Evergreen Acqco 1 LP, New Term Loan, 5.00%, 7/09/19

      1,273        1,279,395   

General Chemical Corp., New Term Loan, 5.00% — 5.75%, 10/06/15

      440        441,447   

INEOS US Finance LLC:

     

3 year Term Loan, 2.19%, 5/04/15

      231        231,724   

6 Year Term Loan, 4.00%, 5/04/18

      566        564,415   

MacDermid, Inc.:

     

2nd Lien Term Loan, 7.75%, 12/07/20

      165        166,650   

 

                
   BLACKROCK FLOATING RATE INCOME TRUST    JULY 31, 2013    3

Consolidated Schedule of Investments (continued)

   

BlackRock Floating Rate Income Trust (BGT)

(Percentages shown are based on Net Assets)

 

Floating Rate Loan Interests (b)   

Par 

(000)

     Value  

Chemicals (concluded)

  

MacDermid, Inc. (concluded):

     

1st Lien Term Loan, 4.00%, 6/07/20

    USD 755      $ 757,831   

Nexeo Solutions LLC, Term Loan B, 5.00%, 9/08/17

      1,438        1,419,819   

Oxea Sarl:

     

1st Lien Term Loan, 4.25%, 11/22/19

      1,430        1,444,300   

2nd Lien Term Loan, 8.25%, 5/22/20

      845        842,888   

Royal Adhesives and Sealants, 1st Lien Term Loan, 5.50%, 1/30/19

      425        427,656   

Tronox Pigments (Netherlands) BV, 2013 Term Loan, 4.50%, 3/19/20

      1,483        1,499,721   

Univar, Inc., Term Loan B, 5.00%, 6/30/17

      960        948,214   

US Coatings Acquisition, Inc., Term Loan, 4.75%, 2/03/20

      1,935        1,954,231   
    

 

 

  
               14,373,636   

Commercial Services & Supplies — 3.4%

  

ADS Waste Holdings, Inc., New Term Loan B, 4.25%, 10/09/19

      1,903        1,916,400   

AWAS Finance Luxembourg 2012 Sarl, Term Loan, 3.50%, 7/16/18

      257        258,246   

AWAS Finance Luxembourg Sarl, Term Loan B, 3.50%, 6/10/16

      579        579,670   

Catalent Pharma Solutions, Inc., New Term Loan, 6.50%, 12/29/17 (h)

      300        300,564   

Garda World Security Corp., Term Loan B, 4.50%, 11/13/19

      313        314,591   

KAR Auction Services, Inc., Term Loan B, 3.75%, 5/19/17

      891        897,343   

Learning Care Group (US) No. 2, Inc., Term Loan B, 6.00%, 5/08/19

      555        556,387   

Livingston International, Inc.:

     

1st Lien Term Loan, 5.00%, 4/16/19

      820        819,492   

2nd Lien Term Loan, 9.00%, 4/16/20

      540        545,400   

Progressive Waste Solutions Ltd., Term Loan B, 3.50%, 10/24/19

      826        832,044   

Protection One, Inc., Term Loan, 4.25%, 3/21/19

      1,343        1,353,079   

Spin Holdco, Inc., New Term Loan B, 4.25%, 11/14/19

      1,675        1,683,894   

West Corp., Term Loan B8, 3.75%, 6/29/18

    USD   1,619        1,622,413   
    

 

 

  
               11,679,523   
Floating Rate Loan Interests (b)   

Par 

(000)

     Value  

Communications Equipment — 3.3%

  

Alcatel-Lucent USA, Inc.:

     

Term Loan B, 6.25%, 8/01/16

    USD   1,165      $ 1,178,106   

Term Loan C, 7.25%, 1/30/19

      1,761        1,797,254   

Term Loan D, 7.50%, 1/30/19

    EUR 647        870,445   

Avaya, Inc.:

     

Extended Term Loan B3, 4.77%, 10/26/17

    USD 1,325        1,160,782   

Term Loan B5, 8.00%, 3/30/18

      171        160,210   

CommScope, Inc., New Term Loan, 3.75%, 1/12/18

      1,180        1,187,754   

Riverbed Technology, Inc., Term Loan, 4.00%, 12/18/19

      927        934,245   

Telesat Canada, Term Loan A, 4.38%, 3/24/17

    CAD 2,857        2,746,608   

Zayo Group, LLC, Term Loan B, 4.50%, 7/02/19

    USD 1,561        1,571,993   
    

 

 

  
               11,607,397   

Construction & Engineering — 2.9%

  

BakerCorp International, Inc., New Term Loan, 4.25%, 2/14/20

      671        669,841   

Centaur LLC:

     

1st Lien Term Loan, 5.25%, 2/15/19

      1,516        1,525,676   

2nd Lien Term Loan, 8.75%, 2/15/20

      745        750,588   

Reynolds Group Holdings, Inc., Term Loan, 5.00%, 9/28/18

    EUR 4,963        6,612,886   

United States infrastructure Corp. Holdings, Inc., 1st Lien, 4.75%, 7/31/20

    USD 710        713,550   
    

 

 

  
               10,272,541   

Construction Materials — 1.1%

  

HD Supply, Inc., Senior Debt B, 4.50%, 10/12/17

      3,806        3,839,367   

Consumer Finance — 0.4%

     

Springleaf Financial Funding Co., Term Loan, 5.50%, 5/10/17

      1,354        1,354,453   

Containers & Packaging — 1.5%

     

Berlin Packaging LLC:

     

1st Lien Term Loan, 4.75%, 4/02/19

      270        271,687   

2nd Lien Term Loan, 8.75%, 4/02/20

      325        328,250   

Clondalkin Acquisition BV, Term Loan B, 5.75%, 5/29/20

      890        892,225   

Pact Group Pty Ltd., Term Loan B, 3.75%, 5/29/20

      2,130        2,130,000   

Polarpak, Inc., USD 1st Lien Canadian Borrower, 4.50%, 6/08/20

      336        333,388   

Sealed Air Corp., New Term Loan, 4.00%, 10/03/18

      1,012        1,024,625   

 

                
4    BLACKROCK FLOATING RATE INCOME TRUST    JULY 31, 2013   

Consolidated Schedule of Investments (continued)

   

BlackRock Floating Rate Income Trust (BGT)

(Percentages shown are based on Net Assets)

 

Floating Rate Loan Interests (b)   

Par 

(000)

     Value  

Containers & Packaging (concluded)

  

WNA Holdings Inc., USD 1st Lien US Borrower, 13.75%, 5/15/20

    USD 183      $ 181,100   
    

 

 

  
               5,161,275   

Distributors — 1.2%

     

ABC Supply Co., Inc., Term Loan, 3.50%, 4/16/20

      2,855        2,856,428   

Crossmark Holdings, Inc., Term Loan, 4.50%, 12/20/19

      498        497,813   

VWR Funding, Inc., Extended Add on Term Loan, 4.19%, 4/03/17

      731        733,614   
    

 

 

  
               4,087,855   

Diversified Consumer Services — 2.9%

  

Bright Horizons Family Solutions, Inc., Term Loan B, 4.00% — 5.25%, 1/30/20

      1,497        1,503,090   

Dundee Holdco 4 Ltd., Term Loan, 5.50%, 4/09/20

      554        557,765   

Education Management LLC, Term Loan C3, 8.25%, 3/29/18

      143        133,623   

Iglo Foods Midco Ltd., Term Loan F, 4.88%, 10/31/17

    EUR 2,620        3,501,814   

Laureate Education, Inc., Extended Term Loan, 5.25%, 6/18/18

    USD   1,245        1,245,351   

ServiceMaster Co., Term Loan, 4.25%, 1/31/17

      1,935        1,921,573   

Weight Watchers International, Inc., Term Loan B2, 3.75%, 4/02/20

      1,247        1,250,778   
    

 

 

  
               10,113,994   

Diversified Financial Services — 1.4%

  

ION Trading Technologies Sarl:

     

1st Lien Term Loan, 4.50%, 5/22/20

      795        797,321   

2nd Lien Term Loan, 8.25%, 5/21/21

      220        220,550   

Kasima LLC, New Term Loan B, 3.25%, 5/14/21

      1,160        1,160,731   

ROC Finance LLC, Term Loan, 5.00%, 5/15/19

      660        663,300   

WMG Acquisition Corp., New Term Loan, 3.75%, 7/01/20

      2,140        2,142,675   
    

 

 

  
               4,984,577   

Diversified Telecommunication Services — 4.5%

  

Consolidated Communications, Inc., Term Loan B3, 5.25%, 12/31/18

      2,338        2,362,217   

Hawaiian Telcom Communications, Inc., Term Loan B, 5.00%, 2/28/17

      1,456        1,474,047   

Integra Telecom, Inc.:

     

1st Lien Term Loan, 5.25%, 2/22/19

      1,232        1,245,772   
Floating Rate Loan Interests (b)   

Par 

(000)

     Value  

Diversified Telecommunication Services (concluded)

  

Integra Telecom, Inc. (concluded):

  

2nd Lien Term Loan, 9.75%, 2/21/20

    USD 650      $ 667,472   

ISS Holdings, Term Loan B12, 3.75%, 4/30/18

      2,000        1,997,500   

Level 3 Financing, Inc.:

     

2016 Term Loan B, 4.75%, 2/01/16

      437        438,556   

2019 Term Loan B, 5.25%, 8/01/19

      1,040        1,046,167   

Term Loan, 4.75%, 8/01/19

      3,400        3,422,270   

Syniverse Holdings, Inc., Tranche B Term Loan, 4.00%, 4/23/19

      1,220        1,222,037   

US Telepacific Corp., Term Loan B, 5.75%, 2/23/17

      1,886        1,881,041   
    

 

 

  
               15,757,079   

Electronic Equipment, Instruments & Components — 1.1%

  

CDW LLC, New Term Loan, 3.50%, 4/29/20

      873        867,174   

La Frontera Generation LLC, Term Loan B, 4.50%, 9/30/20

      2,865        2,880,528   
    

 

 

  
               3,747,702   

Energy Equipment & Services — 0.9%

  

Dynegy Holdings Inc., Term Loan B2, 4.00%, 4/23/20

      1,115        1,119,527   

MEG Energy Corp., Term Loan, 3.75%, 3/31/20

      969        973,989   

Tervita Corp., Term Loan, 6.25%, 5/15/18

      489        492,555   

Unifrax Corp., New Term Loan, 4.25%, 11/28/18

      582        584,258   
    

 

 

  
               3,170,329   

Food & Staples Retailing — 3.0%

  

Alliance Boots Holdings Ltd., Term Loan B1, 3.49%, 7/09/15

    GBP   4,525        6,816,611   

Iceland Foods Group Ltd., Term Loan B1, 4.99%, 3/08/19

      849        1,297,261   

Pilot Travel Centers LLC, Term Loan B2, 4.25%, 8/07/19

    USD 395        394,702   

Rite Aid Corp., 2nd Lien Term Loan, 5.75%, 8/21/20

      540        555,660   

Supervalu, Inc., Refinancing Term Loan B, 5.00%, 3/21/19

      1,096        1,104,998   

US Foods, Inc., Refinancing Term Loan, 4.50%, 3/29/19

      390        390,488   
    

 

 

  
               10,559,720   

Food Products — 2.2%

  

Advance Pierre Foods, Inc., Term Loan, 5.75%, 7/10/17

      1,443        1,456,456   

CTI Foods Holding Co, LLC, New 1st Lien Term Loan, 4.50%, 6/30/20

      520        518,481   

 

                
   BLACKROCK FLOATING RATE INCOME TRUST    JULY 31, 2013    5

Consolidated Schedule of Investments (continued)

   

BlackRock Floating Rate Income Trust (BGT)

(Percentages shown are based on Net Assets)

 

Floating Rate Loan Interests (b)   

Par 

(000)

     Value  

Food Products (concluded)

  

Del Monte Foods Co., Term Loan, 4.00%, 3/08/18

    USD   1,005      $ 1,004,869   

Dole Food Co., Inc., Term Loan,
3.75% — 5.00%, 4/01/20

      1,606        1,605,975   

GFA Brands, Inc., New Term Loan B, 5.00%, 7/09/20

      295        293,711   

Michael Foods Group, Inc., Term Loan, 4.25%, 2/23/18

      293        295,214   

Performance Food Group Co., 2nd Lien Term Loan, 6.25%, 11/29/19

      1,520        1,504,800   

Pinnacle Foods Finance LLC, Term Loan G, 3.25%, 4/29/20

      1,147        1,146,414   
    

 

 

  
               7,825,920   

Health Care Equipment & Supplies — 5.1%

  

Arysta LifeScience Corp.:

     

1st Lien Term Loan, 4.50%, 5/25/20

      2,105        2,118,156   

2nd Lien Term Loan, 8.25%, 11/30/20

      885        889,425   

Bausch & Lomb, Inc., New Term Loan, 4.00%, 5/17/19

      1,973        1,971,395   

Biomet, Inc., Extended Term Loan B,
3.94% — 4.02%, 7/25/17

      897        902,365   

BSN Medical Acquisition Holding GmbH, Term Loan B1A, 5.00%, 8/28/19

      2,000        2,005,000   

Capital Safety North America Holding, Inc., Term Loan, 4.50%, 1/21/19

      948        953,563   

CeramTec Gmbh, Term Loan B, 4.25%, 8/14/20

      1,020        1,025,100   

DJO Finance LLC, Term Loan B3, 4.75%, 9/15/17

      2,620        2,642,310   

Hologic, Inc., Term Loan B, 4.50%, 8/01/19

      1,599        1,603,564   

Immucor, Inc., Term Loan B2, 5.00%, 8/17/18

      1,729        1,742,882   

LHP Hospital Group, Inc., Term Loan, 9.00%, 7/03/18

      564        564,300   

Onex Carestream Health, Inc.:

     

1st Lien Term Loan, 5.00%, 6/07/19

      770        773,373   

2nd Lien Term Loan, 9.50%, 6/07/19

      605        592,900   
    

 

 

  
               17,784,333   

Health Care Providers & Services — 3.8%

  

American Renal Holdings, Inc.:

     

1st Lien Term Loan, 4.50%, 9/20/19

      1,591        1,571,125   

2nd Lien Term Loan, 8.50%, 2/14/20

      885        873,937   

Ardent Medical Services, Inc., Term Loan, 6.75%, 7/02/18

      706        710,569   
Floating Rate Loan Interests (b)   

Par 

(000)

     Value  

Health Care Providers & Services (concluded)

  

CHG Buyer Corp., 1st Lien Term Loan, 5.00%, 11/19/19

    USD   1,084      $ 1,091,567   

ConvaTec, Inc., Term Loan, 5.00%, 12/22/16

      1,150        1,153,707   

DaVita, Inc.:

     

New Term Loan B, 4.50%, 10/20/16

      2,173        2,186,154   

Term Loan B2, 4.00%, 11/01/19

      432        434,245   

Emergency Medical Services Corp., Term Loan, 4.00%, 5/25/18

      923        925,516   

Genesis HealthCare Corp., Term Loan B,
10.00% — 10.75%, 9/25/17

      563        573,101   

HCA, Inc., Extended Term Loan B4, 2.94%, 5/01/18

      330        330,908   

Ikaria Acquisition, Inc., New Tranche B Loan, 7.25%, 7/03/18 (h)

      380        380,714   

inVentiv Health, Inc.:

     

Combined Term Loan, 7.50%, 8/04/16

      183        179,757   

Incremental Term Loan B-3, 7.75%, 5/15/18

      241        236,307   

Surgical Care Affiliates LLC, Term Loan, 4.25%, 6/29/18 (h)

      850        851,326   

US Renal Care, Inc., 1st Lien Term Loan, 6.25%, 7/02/19

      1,356        1,351,214   

Vanguard Health Holdings Co. II LLC, Term Loan B, 3.75%, 1/29/16

      324        324,288   
    

 

 

  
               13,174,435   

Health Care Technology — 0.5%

  

IMS Health, Inc., Term Loan B1, 3.75%, 9/01/17

      1,172        1,177,463   

MedAssets, Inc., Term Loan B, 4.00%, 12/13/19

      621        623,769   
    

 

 

  
               1,801,232   

Hotels, Restaurants & Leisure — 5.8%

  

Boyd Gaming Corp., Incremental Term Loan, 6.00%, 12/17/15

      981        980,745   

Caesars Entertainment Operating Co., Inc.:

     

Extended Term Loan B6, 5.44%, 1/26/18

      340        301,070   

Term Loan, 9.25%, 4/25/17

      855        857,138   

Four Seasons Holdings, Inc., 2nd Lien Term Loan, 6.25%, 12/28/20

      745        756,175   

Great Wolf Resorts, Inc., Senior Debt B, 4.50%, 8/31/20

      895        897,980   

Harrah’s Property Co., Mezzanine Term Loan, 3.68%, 2/13/14

      7,448        6,880,182   

 

                
6    BLACKROCK FLOATING RATE INCOME TRUST    JULY 31, 2013   

Consolidated Schedule of Investments (continued)

   

BlackRock Floating Rate Income Trust (BGT)

(Percentages shown are based on Net Assets)

 

Floating Rate Loan Interests (b)   

Par 

(000)

     Value  

Hotels, Restaurants & Leisure (concluded)

  

MGM Resorts International, Term Loan B, 3.50%, 12/20/19

    USD   1,447      $ 1,447,235   

OSI Restaurant Partners LLC, Term Loan, 3.50%, 10/25/19

      635        637,457   

Sabre, Inc., Term Loan B, 5.25%, 2/19/19

      851        861,068   

Station Casinos, Inc., New Term Loan B, 5.00%, 3/01/20

      3,227        3,255,148   

Travelport LLC:

     

2nd Lien Term Loan 1, 9.50%, 1/29/16

      575        591,773   

Refinancing Term Loan, 6.25%, 6/26/19

      600        598,950   

Twin River Worldwide Holdings, Inc., Term Loan B, 5.25%, 11/09/18

      1,511        1,523,195   

Wendy’s International, Inc., Term Loan B, 3.25%, 5/15/19

      581        582,376   
    

 

 

  
               20,170,492   

Household Products — 1.1%

  

Prestige Brands, Inc., Term Loan,
3.75% — 5.00%, 1/31/19

      1,234        1,243,895   

Spectrum Brands, Inc., New Term Loan,
4.50% — 5.50%, 12/17/19

      2,221        2,240,602   

Waddington North America Inc., 2nd Lien Term Loan, 8.50%, 11/30/20

      245        243,775   
    

 

 

  
               3,728,272   

Independent Power Producers & Energy Traders — 0.5%

  

Calpine Corp., Term Loan B1, 4.00%, 4/02/18

      564        567,489   

Star West Generation LLC, New Term Loan B, 4.25%, 3/13/20

      1,082        1,091,087   
    

 

 

  
               1,658,576   

Industrial Conglomerates — 0.8%

  

Sequa Corp., New Term Loan B, 5.25%, 6/19/17 (h)

      2,590        2,622,858   

Insurance — 2.1%

  

Alliant Holdings I, Inc., New Term Loan B, 5.00%, 12/20/19

      1,129        1,139,207   

Asurion LLC, Term Loan B1, 4.50%, 5/24/19

      1,726        1,723,304   

CNO Financial Group, Inc., Term Loan B-2, 3.75%, 9/20/18

      1,382        1,385,850   

Cooper Gay Swett & Crawford Ltd.:

     

1st Lien Term Loan, 5.00%, 4/16/20

      1,115        1,126,150   

2nd Lien Term Loan, 8.25%, 10/16/20

      530        536,625   

Cunningham Lindsey US, Inc., 1st Lien Term Loan, 5.00%, 12/10/19

      980        982,525   
Floating Rate Loan Interests (b)   

Par 

(000)

     Value  

Insurance (concluded)

  

National Financial Partners Corp., Term Loan B, 5.25%, 6/24/20

    USD 340      $ 340,707   
    

 

 

  
               7,234,368   

Internet Software & Services — 0.3%

     

Web.com Group, Inc., Term Loan B, 4.50%, 10/27/17

      1,106        1,112,977   

IT Services — 3.8%

  

CCC Information Services, Inc., Term Loan, 4.00%, 12/20/19

      517        518,036   

Ceridian Corp., Extended Term Loan, 5.94%, 5/09/17

      1,508        1,516,451   

First Data Corp.:

     

2018 Term Loan, 4.19%, 9/24/18

      1,130        1,126,972   

Extended 2018 Term Loan B, 4.19%, 3/23/18

      4,640        4,628,186   

Genpact International, Inc., Term Loan B, 3.50%, 8/30/19

      2,070        2,081,252   

InfoGroup, Inc., Term Loan, 7.50%, 5/25/18

      314        285,042   

SunGard Data Systems, Inc.:

     

Term Loan D, 4.50%, 1/31/20

      677        685,484   

Term Loan E, 4.00%, 3/08/20

      195        196,458   

TransUnion LLC, Term Loan, 4.25%, 2/10/19

      2,213        2,230,635   
    

 

 

  
               13,268,516   

Leisure Equipment & Products — 0.1%

  

FGI Operating Co. LLC, Term Loan, 5.50%, 4/19/19

      510        511,540   

Life Sciences Tools & Services — 0.2%

  

Patheon, Inc., Term Loan, 7.25%, 12/06/18

      739        750,504   

Machinery — 3.1%

  

Alliance Laundry Systems LLC:

     

2nd Lien Term Loan, 9.50%, 12/10/19

      286        291,375   

Refinancing Term Loan, 4.50%, 12/07/18

      492        496,282   

Dematic SA, Term Loan, 5.25%, 12/27/19

      1,060        1,063,649   

Gardner Denver, Inc.:

     

Term Loan, 4.25%, 7/30/20

      2,018        2,023,103   

Term Loan, 4.75%, 7/30/20

    EUR 1,109        1,475,044   

Generac Power Systems, Inc., Term Loan B, 3.50%, 5/29/20

    USD   2,085        2,083,040   

Intelligrated, Inc., 1st Lien Term Loan, 4.50%, 7/30/18 (h)

      1,191        1,193,978   

Navistar International Corp., Term Loan B, 5.75%, 8/17/17

      549        559,347   

Silver II US Holdings LLC, Term Loan, 4.00%, 12/13/19

      781        780,045   

 

                
   BLACKROCK FLOATING RATE INCOME TRUST    JULY 31, 2013    7

Consolidated Schedule of Investments (continued)

   

BlackRock Floating Rate Income Trust (BGT)

(Percentages shown are based on Net Assets)

 

Floating Rate Loan Interests (b)   

Par 

(000)

     Value  

Machinery (concluded)

  

Terex Corp., Term Loan B, 5.00%, 4/28/17

    EUR 201      $ 269,964   

Wabash National Corp., Term Loan B, 4.50%, 5/02/19

    USD 661        665,992   
    

 

 

  
               10,901,819   

Marine — 0.3%

  

HGIM Corp., Term Loan B, 5.50%, 6/18/20

      1,175        1,191,156   

Media — 13.2%

  

Advanstar Communications, Inc., 2nd Lien Term Loan, 9.50%, 6/06/20

      685        685,000   

Capsugel Holdings US, Inc., Term Loan B, 4.25%, 8/01/18

      1,136        1,142,159   

Catalina Marketing Corp., Extended Term Loan B, 5.70%, 9/29/17 (h)

      1,355        1,370,165   

Cengage Learning Acquisitions, Inc.:

     

Non Extended Term Loan, 2.70%, 7/03/14

      195        142,967   

Tranche 1 Incremental, 7.50%, 7/03/14

      1,101        812,569   

Clear Channel Communications, Inc.:

     

Term Loan B, 3.84%, 1/29/16

      43        40,165   

Term Loan C, 3.84%, 1/29/16

      111        102,213   

Term Loan D, 6.94%, 1/30/19

      922        851,132   

Cumulus Media, Inc., 1st Lien Term Loan, 4.50%, 9/17/18

      1,181        1,190,604   

EMI Music Publishing Ltd., Term Loan B, 4.25%, 6/29/18

      1,206        1,212,687   

Fender Musical Instrument Corp., Term Loan B, 5.75%, 4/03/19

      190        190,946   

Foxco Acquisition Sub LLC, Term Loan B, 5.50%, 7/14/17

      1,846        1,862,781   

Getty Images, Inc., Term Loan B, 4.75%, 10/18/19

      414        413,825   

Gray Television, Inc., New Term Loan B, 4.75%, 10/15/19

      1,041        1,050,418   

Hemisphere Media Group, Inc., Term Loan, 6.25%, 7/30/20

      1,335        1,335,000   

Houghton Mifflin Harcourt Publishing Co., DIP Term Loan B, 5.25%, 6/01/18

      1,146        1,147,413   

Hubbard Radio LLC, Term Loan B, 4.50%, 4/29/19

      887        888,789   

Intelsat Jackson Holdings SA, Term Loan B1, 4.25%, 4/02/18

      3,884        3,913,359   

Interactive Data Corp., Term Loan B, 3.75%, 2/11/18

      2,330        2,334,130   

Kabel Deutschland GmbH:

     

Term Loan F1, 3.25%, 2/01/19

      166        165,714   

Term Loan H, 2.88%, 4/17/20

    EUR   4,545        6,033,983   
Floating Rate Loan Interests (b)   

Par 

(000)

     Value  

Media (concluded)

  

Lavena Holding 3, Term Loan E, 4.09%, 3/30/17

    EUR 895      $ 1,179,208   

Lions Gate Entertainment Corp., 2nd Lien Term Loan, 5.00%, 7/17/20

    USD 390        393,900   

Media General, Inc., Delayed Draw Term Loan, 0.00%, 7/31/20

      1,120        1,120,000   

NEP Supershooters LP:

     

2nd Lien Term Loan, 9.50%, 8/18/20 (h)

      349        356,414   

New Term Loan, 4.75%, 1/18/20

      1,751        1,761,409   

Nielsen Finance LLC, Term Loan E, 2.94%, 5/02/16

      1,027        1,031,791   

Rentpath, Inc., Term Loan B, 6.25%, 5/29/20

      1,255        1,228,331   

Salem Communications Corp., Term Loan B, 4.50%, 3/16/20

      1,051        1,054,741   

Springer Science & Business, Term Loan B, 5.00%, 7/31/20

      2,445        2,410,354   

Univision Communications, Inc., Converted Extended Term Loan, 4.50%, 3/02/20

      1,085        1,088,917   

UPC Financing Partnership, Term Loan AG, 3.88%, 3/26/21

    EUR 910        1,205,655   

Virgin Media Investment Holdings:

     

Term Loan B, 3.50%, 6/08/20

    USD   1,485        1,483,352   

Term Loan C, 4.50%, 6/05/20

    GBP 1,105        1,688,126   

WC Luxco Sarl, New Term Loan B3, 4.25%, 3/15/18

    USD 445        445,291   

Weather Channel, 2nd Lien Term Loan, 7.00%, 12/11/20

      1,240        1,267,900   

WideOpenWest Finance LLC, Term Loan B, 4.75%, 3/26/19

      1,356        1,366,783   
    

 

 

  
               45,968,191   

Metals & Mining — 4.3%

  

Ameriforge Group, Inc.:

     

1st Lien Term Loan, 5.00%, 12/19/19

      995        996,871   

2nd Lien Term Loan, 8.75%, 12/18/20

      495        499,950   

Constellium Holding Co. BV, Term Loan B, 6.00%, 3/25/20

      2,214        2,275,347   

FMG America Finance, Inc., Term Loan, 5.25%, 10/18/17

      2,844        2,864,235   

Murray Energy Corp., Term Loan, 4.75%, 5/24/19

      510        510,000   

Novelis, Inc., Term Loan, 3.75%, 3/10/17

      3,048        3,063,222   

SunCoke Energy, Inc., Term Loan B, 4.00%, 7/26/18

      258        255,905   

ThermaSys Corp., Term Loan, 5.25%, 5/03/19

      1,005        1,005,633   

Walter Energy, Inc., Term Loan B,
5.75% — 6.75%, 4/02/18

      2,004        1,932,546   

 

                
8    BLACKROCK FLOATING RATE INCOME TRUST    JULY 31, 2013   

Consolidated Schedule of Investments (continued)

   

BlackRock Floating Rate Income Trust (BGT)

(Percentages shown are based on Net Assets)

 

Floating Rate Loan Interests (b)   

Par 

(000)

     Value  

Metals & Mining (concluded)

  

Windsor Financing LLC, Term Loan B, 6.25%, 12/05/17

    USD 1,684      $ 1,721,522   
    

 

 

  
               15,125,231   

Multiline Retail — 3.3%

  

99¢ Only Stores, Term Loan, 5.25% — 6.25%, 1/11/19

      1,134        1,142,241   

Apex Tool Group LLC, Term Loan B, 4.50%, 1/31/20

      1,282        1,290,196   

BJ’s Wholesale Club, Inc.:

     

2nd Lien Term Loan, 9.75%, 3/26/20

      545        555,448   

Replacement Term Loan, 4.25%, 9/26/19

      1,092        1,096,371   

HEMA Holding BV:

     

2nd Lien Term Loan, 5.12%, 1/05/17

    EUR   3,800        4,726,733   

Term Loan B, 2.12%, 7/06/15

      161        211,898   

Term Loan C, 2.87%, 7/05/16

      148        195,038   

JC Penney Corp., Inc., 1st Lien Term Loan, 6.00%, 5/21/18

    USD 1,420        1,427,398   

The Neiman Marcus Group, Inc., Extended Term Loan, 4.00%, 5/16/18

      750        751,485   
    

 

 

  
               11,396,808   

Oil, Gas & Consumable Fuels — 5.9%

  

Chesapeake Energy Corp., New New Unsecured Term Loan, 5.75%, 12/01/17

      2,115        2,166,120   

Everest Acquisition LLC, Term Loan B-3, 3.50%, 5/24/18

      1,755        1,754,456   

GIM Channelview Cogeneration, LLC, Term Loan B, 4.25%, 5/04/20

      710        712,663   

Obsidian Natural Gas Trust, Term Loan, 7.00%, 11/02/15

      913        910,331   

Ocean Rig ASA, Term Loan B2, 5.50%, 7/15/16

      2,235        2,251,762   

Pacific Drilling S.A., Term Loan B, 4.50%, 6/04/18

      1,475        1,489,750   

Panda Temple Power LCC, Term Loan B, 7.25%, 4/03/19

      940        951,167   

Philadelphia Energy Solutions LLC, Term Loan B, 6.25%, 4/04/18

      1,236        1,226,817   

Power Team Services, LLC:

     

1st Lien Term Loan, 4.25%, 5/06/20

      511        506,000   

2nd Lien Term Loan, 8.25%, 11/06/20

      285        279,300   

Delayed Draw Term Loan, 0.50%, 5/06/20

      64        63,250   

Quicksilver Resources, Inc., 2nd Lien, 7.00%, 6/21/19

      585        568,913   
Floating Rate Loan Interests (b)   

Par 

(000)

     Value  

Oil, Gas & Consumable Fuels (concluded)

  

Ruby Western Pipeline Holdings LLC, Term Loan B, 3.50%, 3/27/20

    USD 769      $ 768,765   

Samson Investment Co., 2nd Lien Term Loan, 6.00%, 9/25/18

      785        794,161   

State Class Tankers II LLC, Term Loan B, 6.75%, 6/22/20

      1,000        1,005,000   

Tesoro Corp., Term Loan B, 2.52%, 1/29/16

      838        842,089   

Total Safety US, Inc.:

     

1st Lien Term Loan, 5.75%, 2/21/20

      1,087        1,093,396   

2nd Lien Term Loan, 9.25%, 8/21/20

      419        426,282   

Vantage Drilling Co.:

     

Term Loan, 6.25%, 10/26/17

      1,739        1,751,179   

Term Loan B, 5.75%, 3/22/19

      893        899,458   
    

 

 

  
               20,460,859   

Pharmaceuticals — 3.9%

  

Aptalis Pharma, Inc., Term Loan B, 5.50%, 2/10/17

      2,358        2,363,368   

Par Pharmaceutical Cos., Inc., Refinancing Term Loan B, 4.25%, 9/30/19

      2,441        2,453,670   

Pharmaceutical Product Development, Inc., New Term Loan B, 4.25%, 12/05/18 (h)

      2,091        2,106,943   

Quintiles Transnational Corp., Term Loan B, 4.50%, 6/08/18

      1,280        1,288,022   

RPI Finance Trust, Incremental Tranche 2, 4.00%, 11/09/18

      240        241,144   

Valeant Pharmaceuticals International, Inc.:

     

Refinancing Term Loan C1, 3.50%, 2/13/19

      1,642        1,656,624   

Refinancing Term Loan D1, 3.50%, 12/11/19

      1,100        1,109,564   

Term Loan E, 4.50%, 8/05/20

      1,555        1,575,168   

Warner Chilcott Corp.:

     

Incremental Term Loan B-1, 4.25%, 3/15/18

      246        245,992   

Term Loan B-1, 4.25%, 3/15/18

      565        565,078   

Term Loan B-2, 4.25%, 3/15/18

      35        34,580   
    

 

 

  
               13,640,153   

Professional Services — 2.1%

  

Booz Allen Hamilton, Inc., Term Loan B, 4.50%, 7/31/19

      1,702        1,705,967   

Emdeon Business Services, LLC, Term Loan B-2, 3.75%, 11/02/18

      1,266        1,272,493   

Intertrust Group Holding BV, Term Loan B1, 4.67%, 2/07/20

    EUR   1,000        1,317,885   

 

                
   BLACKROCK FLOATING RATE INCOME TRUST    JULY 31, 2013    9

Consolidated Schedule of Investments (continued)

   

BlackRock Floating Rate Income Trust (BGT)

(Percentages shown are based on Net Assets)

 

Floating Rate Loan Interests (b)   

Par 

(000)

     Value  

Professional Services (concluded)

  

ON Assignment, Inc., Term Loan B, 3.50%, 4/30/20

    USD 478      $ 478,438   

Sirva Worldwide, Inc., Term Loan, 7.50%, 3/27/19

      1,127        1,121,539   

Truven Health Analytics, Inc., Term Loan B, 4.50%, 6/01/19

      1,346        1,351,475   
    

 

 

  
               7,247,797   

Real Estate Investment Trusts (REITs) — 0.5%

  

iStar Financial, Inc., Term Loan, 4.50%, 10/16/17

      1,559        1,564,681   

Real Estate Management & Development — 1.3%

  

Realogy Corp.:

     

Extended Letter of Credit, 4.45%, 10/10/16

      237        239,337   

Extended Term Loan, 4.50%, 3/05/20

      4,065        4,108,021   

Letter of Credit, 3.20%, 10/10/13

      57        56,122   
    

 

 

  
               4,403,480   

Road & Rail — 0.9%

  

Genesee & Wyoming, Inc., Term Loan A, 2.20%, 9/29/17

      669        667,758   

RAC Ltd., Term Loan B, 5.49%, 9/28/18

    GBP   1,182        1,805,334   

Road Infrastructure Investment LLC, Term Loan B, 6.25%, 3/30/18

    USD 609        612,266   
    

 

 

  
               3,085,358   

Semiconductors & Semiconductor Equipment — 0.8%

  

Freescale Semiconductor, Inc., Term Loan B4, 5.00%, 2/28/20

      1,706        1,722,253   

NXP BV, Term Loan C, 4.75%, 1/11/20

      1,025        1,042,785   
    

 

 

  
               2,765,038   

Software — 3.6%

  

Blackboard, Inc., Term Loan B2, 6.25%, 10/04/18

      203        205,681   

CompuCom Systems, Inc., Term Loan B, 4.25%, 5/11/20

      455        456,847   

GCA Services Group, Inc.:

     

2nd Lien Term Loan, 9.25%, 10/22/20

      500        507,500   

Term Loan B, 5.25%, 11/01/19

      1,180        1,185,794   

Infor US, Inc., Term Loan B2, 5.25%, 4/05/18

      2,010        2,035,585   

Kronos, Inc., 2nd Lien Term Loan, 9.75%, 4/30/20

      925        952,750   

RP Crown Parent LLC, 1st Lien Term Loan, 6.75%, 12/21/18

      965        976,915   

Sophia LP, Term Loan B, 4.50%, 7/19/18

      1,379        1,390,122   
Floating Rate Loan Interests (b)   

Par 

(000)

     Value  

Software (concluded)

  

SS&C Technologies, Inc.:

     

Term Loan B-1, 3.50%, 6/07/19

    USD   1,993      $ 1,994,282   

Term Loan B-2, 3.50%, 6/07/19

      206        206,305   

StoneRiver Holdings, Inc.:

     

1st Lien Term Loan, 4.50%, 11/20/19

      1,200        1,200,756   

2nd Lien Term Loan, 8.50%, 11/20/20

      595        595,000   

Websence, Inc.:

     

2nd Lien Term Loan, 8.25%, 11/24/20

      445        444,444   

Term Loan B, 4.50%, 6/25/20

      490        488,775   
    

 

 

  
               12,640,756   

Specialty Retail — 6.5%

  

Academy Ltd., Term Loan, 4.50%, 8/03/18

      1,872        1,884,091   

Atlantic Aviation FBO Inc., Term Loan B, 3.25%, 5/20/20

      355        355,444   

Bass Pro Group LLC, New Term Loan, 4.00%, 11/20/19

      1,618        1,627,082   

Burlington Coat Factory Warehouse Corp., New Term Loan B2, 4.25%, 2/23/17

      365        366,257   

David’s Bridal, Inc., Term Loan B, 5.00%, 10/11/19

      2,024        2,037,719   

Equinox Holdings, Inc., Repriced Term Loan B, 4.50% — 5.50%, 1/31/20

      1,207        1,213,010   

The Gymboree Corp., Initial Term Loan, 5.00%, 2/23/18

      70        67,533   

Harbor Freight Tools USA, Inc., New 1st Lien Term Loan, 4.75%, 7/16/19

      973        982,377   

Jo-Ann Stores, Inc., Term Loan, 4.00%, 3/16/18 (h)

      583        584,040   

Leslie’s Poolmart, Inc., Term Loan B, 5.25%, 10/16/19

      1,240        1,250,759   

Michaels Stores, Inc., Term Loan, 3.75%, 1/28/20

      1,446        1,450,902   

Moneygram International, Inc., Term Loan B, 4.25%, 3/20/20

      778        782,586   

Party City Holdings, Inc., Term Loan B, 4.25%, 7/29/19

      2,686        2,691,634   

PETCO Animal Supplies, Inc., Term Loan, 4.00%, 11/24/17

      1,499        1,509,683   

Reddy Ice Corp.:

     

1st Lien Term Loan,
6.75% — 7.75%, 3/28/19

      1,506        1,509,991   

2nd Lien Term Loan, 10.75%, 11/01/19

      725        725,000   

 

                
10    BLACKROCK FLOATING RATE INCOME TRUST    JULY 31, 2013   

Consolidated Schedule of Investments (continued)

   

BlackRock Floating Rate Income Trust (BGT)

(Percentages shown are based on Net Assets)

 

 

Floating Rate Loan Interests (b)   

Par  

(000)

     Value  

Specialty Retail (concluded)

     

Sprouts Farmers Markets Holdings, LLC, Term Loan, 4.50%, 4/23/20

    USD 810      $ 814,050   

SRAM LLC, Term Loan B, 4.00% — 5.25%, 4/10/20

      508        509,060   

Things Remembered, Inc., Term Loan B, 8.00%, 5/24/18

      1,018        1,012,711   

Toys ‘R’ Us Delaware, Inc.:

     

Incremental Term Loan B2, 5.25%, 5/25/18

      471        459,113   

Term Loan B3, 5.25%, 5/25/18

      99        96,346   

The Yankee Candle Co., Inc., Term Loan B, 5.25%, 4/02/19

      858        864,780   
    

 

 

  
               22,794,168   

Textiles, Apparel & Luxury Goods — 0.9%

  

  

Ascend Performance Materials LLC, Term Loan B, 6.75%, 4/10/18

      2,150        2,158,320   

Phillips-Van Heusen Corp., Term Loan B, 3.25%, 2/13/20

      609        611,586   

True Religion Apparel, Inc., Term Loan, 5.88%, 7/29/19

      200        188,500   
    

 

 

  
               2,958,406   

Thrifts & Mortgage Finance — 0.6%

  

  

Insight Global, Inc., 1st Lien Term Loan, 6.00%, 10/31/19

      1,199        1,207,967   

Ocwen Financial Corp., Term Loan, 5.00%, 2/15/18

      998        1,008,722   
    

 

 

  
               2,216,689   

Trading Companies & Distributors — 0.4%

  

  

WESCO Distribution, Inc., Term Loan B, 4.50%, 12/12/19

      1,348        1,354,130   

Wireless Telecommunication Services — 1.8%

  

  

Cricket Communications, Inc., Term Loan, 4.75%, 10/10/19

      998        1,006,358   

Light Tower Fiber LLC, 1st Lien Term Loan, 4.50%, 4/13/20

      1,630        1,638,655   

Vodafone Americas Finance 2, Inc., PIK Term Loan, 6.88%, 8/11/15

      3,542        3,542,150   
    

 

 

  
               6,187,163   
Total Floating Rate Loan Interests — 119.5%        416,527,953   
Other Interests (i)    Beneficial
Interest  
(000)    		     Value  

Auto Components — 0.0%

  

  

Lear Corp. Escrow (d)

    USD 500      $ 2,500   

Construction Materials — 0.0%

  

  

USI Senior Holdings (d)

      8        —   

Diversified Financial Services — 0.2%

  

JG Wentworth LLC Preferred Equity Interests (d)

      1        460,525   

Hotels, Restaurants & Leisure — 0.2%

  

  

Wembley Contigent (d)

      2        750,000   

Household Durables — 0.0%

  

  

Berkline Benchcraft Equity LLC (d)

      6        —   
Total Other Interests — 0.4%        1,213,025   
    
                  
Warrants (j)    Shares         

Chemicals — 0.0%

     

British Vita Holdings Co. (Non-Expiring)

      166        —   

Media — 0.0%

     

New Vision Holdings LLC:

     

(Expires 9/30/14)

      19,023        29,086   

(Expires 9/30/14)

      3,424        6,293   
    

 

 

  
               35,379   

Software — 0.0%

     

Bankruptcy Management Solutions, Inc.:

  

  

(Expires 6/28/18)

      181        1,700   

(Expires 6/28/19)

      195        1,832   

(Expires 6/28/20)

      292        2,743   

HMH Holdings/EduMedia, (Issued/Exercisable 3/09/10, 19 Shares for 1 Warrant, Expires 6/22/19, Strike Price $42.27)

      1,501        —   
    

 

 

  
               6,275   
Total Warrants — 0.0%        41,654   

Total Long-Term Investments

(Cost — $496,301,639) — 143.1%

              499,064,197   

 

                
   BLACKROCK FLOATING RATE INCOME TRUST    JULY 31, 2013    11

Consolidated Schedule of Investments (continued)

   

BlackRock Floating Rate Income Trust (BGT)

(Percentages shown are based on Net Assets)

 

Short-Term Securities    Shares     Value  
Money Market Funds — 0.3%     

BlackRock Liquidity Funds, TempFund, Institutional Class, 0.04% (k)(l)

      952,486      $ 952,486   

Total Short-Term Securities

(Cost – $952,486) – 0.3%

  

  

     952,486   
Options Purchased    Shares   Value  
(Cost — $25,422) — 0.0%          —   

Total Investments (Cost — $497,254,125*) — 143.4%

   $ 500,016,683   

Liabilities in Excess of Other Assets — (43.4)%

     (151,371,391 ) 
    

 

 

  

Net Assets — 100.0%

      $ 348,645,292   
    

 

 

  

 

 

*   As of July 31, 2013, gross unrealized appreciation and gross unrealized depreciation based on cost for federal income tax purposes were as follows:

 

Tax cost

   $ 495,316,645   
 

 

 

  

Gross unrealized appreciation

   $ 10,281,969   

Gross unrealized depreciation

     (5,581,931 ) 
 

 

 

  

Net unrealized appreciation

   $ 4,700,038   
 

 

 

  

 

 

Notes to Schedule of Investments

 

(a) Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.

 

(b) Variable rate security. Rate shown is as of report date.

 

(c) When-issued security. Unsettled when-issued transactions were as follows:

 

Counterparty    Value     Unrealized
Appreciation
(Depreciation)		  

Barclays PLC

    $ 188,839      $ 839   

Bank of America NA

    $ 474,900        —   

Pershing LLC

    $ 61,021      $ 271   

Merrill Lynch, Pierce, Fenner & Smith, Inc.

    $ 3,023,637      $ (38,062 ) 

 

(d) Non-income producing security.

 

(e) Represents a zero-coupon bond. Rate shown reflects the current yield as of report date.

 

(f) Convertible security.

 

(g) Issuer filed for bankruptcy and/or is in default of principal and/or interest payments.

 

(h) Represents a payment-in-kind security which may pay interest/dividends in additional par/shares.

 

(i) Other interests represent beneficial interests in liquidation trusts and other reorganization or private entities.

 

(j) Warrants entitle the Trust to purchase a predetermined number of shares of common stock and are non-income producing. The purchase price and number of shares are subject to adjustment under certain conditions until the expiration date of the warrants, if any.

 

(k) Investments in issuers considered to be an affiliate of the Trust during the period ended July 31, 2013, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

Affiliate   Shares Held
at October 31,
2012		    

Net

Activity

     Shares Held
at July 31,
2013		     Income  

BlackRock Liquidity Funds, TempFund, Institutional Class

     2,740,694        (1,788,208 )      952,486      $ 1,647   

 

(l) Represents the current yield as of report date.

 

                
12   

BLACKROCK FLOATING RATE INCOME TRUST

   

JULY 31, 2013

   

Consolidated Schedule of Investments (continued)

   

BlackRock Floating Rate Income Trust (BGT)

 

 

Portfolio Abbreviations

 

To simplify the listings of portfolio holdings in the Schedule of Investments, the names and descriptions of many of the securities have been abbreviated according to the following list:      CAD      Canadian Dollar      
     CHF      Swiss Franc      
     DIP      Debtor-In-Possession      
     EUR      Euro      
     GBP      British Pound      
     USD      US Dollar      

 

Ÿ  

For Trust compliance purposes, the Trust’s industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by Trust management. These definitions may not apply for purposes of this report, which may combine such industry sub-classifications for reporting ease.

 

Ÿ  

Foreign currency exchange contracts as of July 31, 2013 were as follows:

 

Currency

Purchased

       

Currency

Sold

     Counterparty   Settlement
Date		      Unrealized
Appreciation
(Depreciation)		  
GBP        1,900,000         USD        3,049,038      Credit Suisse Group AG   8/01/13      $ (21,750 ) 
EUR        3,000,000         USD        3,942,420      Citigroup, Inc.   8/22/13        48,873   
EUR        1,133,000         USD        1,504,497      Deutsche Bank AG   8/22/13        2,881   
EUR        1,465,000         USD        1,930,905      Deutsche Bank AG   8/22/13        18,176   
USD        390,416         EUR        294,000      BNP Paribas SA   8/22/13        (731 ) 
USD        55,775,426         EUR        42,556,000      Citigroup, Inc.   8/22/13        (842,398 ) 
USD        351,899         EUR        265,000      Credit Suisse Group AG   8/22/13        (665 ) 
USD        3,245,215         CAD        3,377,000      JPMorgan Chase & Co.   10/22/13        (36,170 ) 
USD        1,065,865         CHF        1,011,188      UBS Securities LLC   10/22/13        (27,564 ) 
USD        3,047,388         GBP        1,990,000      Credit Suisse Group AG   10/22/13        21,684   
USD        22,303,394         GBP        14,790,000      Deutsche Bank AG   10/22/13        (184,129 ) 
Total                         $ (1,021,793 ) 
                       

 

 

  

 

Ÿ  

Over-the-counter options purchased as of July 31, 2013 were as follows:

 

Description      Counterparty      Put/
Call		       

Strike

Price

     Expiration
Date		        Contracts        Market
Value		  

Marsico Parent Superholdco LLC

      Goldman Sachs Group, Inc.        Call           USD        942.86        12/14/19           26           —   

 

                
  

BLACKROCK FLOATING RATE INCOME TRUST

   

JULY 31, 2013

    13

Consolidated Schedule of Investments (continued)

   

BlackRock Floating Rate Income Trust (BGT)

 

 

Ÿ  

Credit default swaps — sold protection outstanding as of July 31, 2013 were as follows:

 

Issuer/Index   Receive
Fixed
Rate		     Counterparty/Exchange     Expiration
Date		     Credit
Rating1		     Notional
Amount
(000)2		     Unrealized
Appreciation
(Depreciation)		  

Caesars Entertainment Operating Co., Inc.

     5.00 %      Barclays PLC        9/20/15        CCC-        USD        250      $ 5,539   

Caesars Entertainment Operating Co., Inc.

     5.00 %      Citigroup, Inc.        12/20/15        CCC-        USD        189        1,513   

Caesars Entertainment Operating Co., Inc.

     5.00 %      Citigroup, Inc.        12/20/15        CCC-        USD        91        (1,794 ) 

Caesars Entertainment Operating Co., Inc.

     5.00 %      JPMorgan Chase & Co.        12/20/15        CCC-        USD        331        13,294   

Caesars Entertainment Operating Co., Inc.

     5.00 %      JPMorgan Chase & Co.        12/20/15        CCC-        USD        77        30   

Caesars Entertainment Operating Co., Inc.

     5.00 %      Goldman Sachs Group, Inc.        3/20/16        CCC-        USD        131        (6,107 ) 

Caesars Entertainment Operating Co., Inc.

     5.00 %      Goldman Sachs Group, Inc.        3/20/16        CCC-        USD        131        (6,107 ) 

Caesars Entertainment Operating Co., Inc.

     5.00 %      Deutsche Bank AG        6/20/17        CCC-        USD        339        (44,208 ) 

Caesars Entertainment Operating Co., Inc.

     5.00 %      Goldman Sachs Group, Inc.        3/20/16        CCC-        USD        385        (22,409 ) 

Caesars Entertainment Operating Co., Inc.

     5.00 %      Goldman Sachs Group, Inc.        6/20/16        CCC-        USD        500        (40,177 ) 

Caesars Entertainment Operating Co., Inc.

     5.00 %      Citigroup, Inc.        9/20/16        CCC-        USD        175        (2,441 ) 

Caesars Entertainment Operating Co., Inc.

     5.00 %      Goldman Sachs Group, Inc.        3/20/17        CCC-        USD        238        (30,091 ) 

Total

  

   $ (132,958 ) 
             

 

 

  

 

  1   

Using Standard & Poor’s rating of the issuer.

 

  2   

The maximum potential amount the Trust may pay should a negative credit event take place as defined under the terms of the agreement.

 

                
14    BLACKROCK FLOATING RATE INCOME TRUST    JULY 31, 2013   

Consolidated Schedule of Investments (continued)    BlackRock Floating Rate Income Trust (BGT)

 

 

Ÿ  

Fair Value Measurements — Various inputs are used in determining the fair value of investments and derivative financial instruments. These inputs to valuation techniques are categorized into a disclosure hierarchy consisting of three broad levels for financial reporting purposes as follows:

 

Ÿ  

Level 1 — unadjusted price quotations in active markets/exchanges for identical assets or liabilities that the Trust has the ability to access

 

Ÿ  

Level 2 — other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs)

 

Ÿ  

Level 3 — unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Trust’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety.

Changes in valuation techniques may result in transfers into or out of an assigned level within the disclosure hierarchy. In accordance with the Trust’s policy, transfers between different levels of the fair value disclosure hierarchy are deemed to have occurred as of the beginning of the reporting period. The categorization of a value determined for investments and derivative financial instruments is based on the pricing transparency of the investment and derivative financial instrument and is not necessarily an indication of the risks associated with investing in those securities. For information about the Trust’s policy regarding valuation of investments and derivative financial instruments, please refer to the Trust’s most recent financial statements as contained in its semi-annual report.

The following tables summarize the Trust’s investments and derivative financial instruments categorized in the disclosure hierarchy as of July 31, 2013:

 

       Level 1     Level 2     Level 3     Total  

Assets:

        
Investments:        

Long Term Investments

        

Asset-Backed Securities

     —        —      $ 13,101,283      $ 13,101,283   

Common Stocks

   $ 757,710      $ 2,832,368        235,107        3,825,185   

Corporate Bonds

     —        64,355,097        —        64,355,097   

Floating Rate Loan Interests

     —        376,140,348        40,387,605        416,527,953   

Other Interests

     —        750,000        463,025        1,213,025   

Warrants

     —        —        41,654        41,654   

Short-Term Securities

     952,486        —        —        952,486   

Unfunded Loan Commitments

     —        (325 )      —        (325 ) 
 

 

 

  

Total

   $ 1,710,196      $ 444,077,488      $ 54,228,674      $ 500,016,358   
 

 

 

  
 
       Level 1     Level 2     Level 3     Total  
Derivative Financial Instruments3        

Assets:

        

Credit contracts

     —      $ 20,376        —      $ 20,376   

Foreign currency exchange contracts

     —        91,614        —        91,614   

Liabilities:

        

Credit contracts

     —        (153,334 )      —        (153,334 ) 

Foreign currency exchange contracts

   $ (21,750 )      (1,091,657 )      —        (1,113,407 ) 
 

 

 

  

Total

   $ (21,750 )    $ (1,133,001 )      —      $ (1,154,751 ) 
 

 

 

  

 

  3   

Derivative financial instruments are swaps and foreign currency exchange contracts which are valued at the unrealized appreciation/depreciation on the instrument.

 

                
   BLACKROCK FLOATING RATE INCOME TRUST    JULY 31, 2013    15

Consolidated Schedule of Investments (concluded)    BlackRock Floating Rate Income Trust (BGT)

 

Certain of the Trust’s assets and liabilities are held at carrying amount, which approximates fair value for financial reporting purposes. As of July 31, 2013, such assets and liabilities are categorized within the disclosure hierarchy as follows:

 

       Level 1     Level 2     Level 3   Total  

Assets:

        

Cash

   $ 616,581        —      —   $ 616,581   

Liabilities:

        

Foreign currency overdraft

     —      $ (434,505 )    —     (434,505 ) 

Loans payable

     —        (132,000,000 )    —     (132,000,000 ) 
 

 

 

  

Total

   $ 616,581      $ (132,434,505 )    —   $ (131,817,924 ) 
 

 

 

  

There were no transfers between Level 1 and Level 2 during the period ended July 31, 2013.

A reconciliation of Level 3 investments is presented when the Trust had a significant amount of Level 3 investments at the beginning and/or end of the period in relation to net assets. The following table is a reconciliation of Level 3 investments for which significant unobservable inputs were used in determining fair value:

 

     Asset-Backed
Securities		     Common
Stocks		     Floating Rate
Loan Interests		     Other Interests     Warrants     Total  

Assets:

            

Opening Balance, as of October 31, 2012

   $ 8,621,975      $ 8,096      $ 27,270,564      $ 1,394,386        —      $ 37,295,021   

Transfers into Level 31

     817,377        224,202        8,120,740        —      $ 67,341        9,229,660   

Transfers out of Level 32

     —        —        (4,859,883 )      (7,500 )      —        (4,867,383 ) 

Accrued discounts/premiums

     44,901        —        100,173        —        —        145,074   

Net realized gain (loss)

     100,991        (2,932 )      (344,183 )      —        —        (246,124 ) 

Net change in unrealized appreciation/depreciation3

     419,176        5,756        1,059,236        40,164        (31,959 )      1,492,373   

Purchases

     4,539,687        —        27,938,193        —        6,275        32,484,155   

Sales

     (1,442,824 )      (15 )      (18,897,235 )      (964,025 )      (3 )      (21,304,102 ) 
 

 

 

  

Closing Balance, as of July 31, 2013

   $ 13,101,283      $ 235,107      $ 40,387,605      $ 463,025      $ 41,654      $ 54,228,674   
 

 

 

  

 

  1  

As of October 31, 2012, the Trust used observable inputs in determining the value of certain investments. As of July 31, 2013, the Trust used significant unobservable inputs in determining the value of the same investments. As a result, investments with a beginning of period value of $9,229,660 transferred from Level 2 to Level 3 in the disclosure hierarchy.

 

  2  

As of October 31, 2012, the Trust used significant unobservable inputs in determining the value of certain investments. As of July 31, 2013, the Trust used observable inputs in determining the value of the same investments. As a result, investments with a beginning of period value of $4,867,383 transferred from Level 3 to Level 2 in the disclosure hierarchy.

 

  3  

The change in unrealized appreciation/depreciation on investments still held as of July 31, 2013 was $766,268.

The Trust’s investments that are categorized as Level 3 were valued utilizing third party pricing information without adjustment. Such valuations are based on unobservable inputs. A significant change in third party information inputs could result in a significantly lower or higher value of such Level 3 investments.

 

                
16    BLACKROCK FLOATING RATE INCOME TRUST    JULY 31, 2013   

Item 2 – Controls and Procedures

 

2(a) – The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13a-15(b) under the Securities Exchange Act of 1934, as amended.

 

2(b) – There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 3 – Exhibits

Certifications – Attached hereto

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

BlackRock Floating Rate Income Trust

   

By:

  

/s/ John M. Perlowski

      
 

 

      
 

John M. Perlowski

      
 

Chief Executive Officer (principal executive officer) of

   
 

BlackRock Floating Rate Income Trust

   

Date: September 24, 2013

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

 

By:

  

/s/ John M. Perlowski

      
 

 

      
 

John M. Perlowski

      
 

Chief Executive Officer (principal executive officer) of

   
 

BlackRock Floating Rate Income Trust

   

Date: September 24, 2013

 

By:

  

/s/ Neal J. Andrews

      
 

 

      
 

Neal J. Andrews

   
 

Chief Financial Officer (principal financial officer) of

   
 

BlackRock Floating Rate Income Trust

   

Date: September 24, 2013