0000844779-17-000426.txt : 20171030
0000844779-17-000426.hdr.sgml : 20171030
20171030124559
ACCESSION NUMBER: 0000844779-17-000426
CONFORMED SUBMISSION TYPE: NSAR-B
PUBLIC DOCUMENT COUNT: 3
CONFORMED PERIOD OF REPORT: 20170831
FILED AS OF DATE: 20171030
DATE AS OF CHANGE: 20171030
EFFECTIVENESS DATE: 20171030
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: BlackRock Defined Opportunity Credit Trust
CENTRAL INDEX KEY: 0001412914
IRS NUMBER: 000000000
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1031
FILING VALUES:
FORM TYPE: NSAR-B
SEC ACT: 1940 Act
SEC FILE NUMBER: 811-22126
FILM NUMBER: 171161469
BUSINESS ADDRESS:
STREET 1: 100 BELLEVUE PARKWAY
CITY: WILMINGTON
STATE: DE
ZIP: 19809
BUSINESS PHONE: 800-882-0052
MAIL ADDRESS:
STREET 1: 100 BELLEVUE PARKWAY
CITY: WILMINGTON
STATE: DE
ZIP: 19809
FORMER COMPANY:
FORMER CONFORMED NAME: BlackRock Strategic Income Opportunities Trust
DATE OF NAME CHANGE: 20070921
FORMER COMPANY:
FORMER CONFORMED NAME: BlackRock Fixed Income Opportunities Trust
DATE OF NAME CHANGE: 20070920
NSAR-B
1
answer.fil
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SIGNATURE NEAL J. ANDREWS
TITLE CFO
EX-99.77O RULE 10F-3
2
77O13.txt
[LOGO OF BLACKROCK]
Rule 10f-3 Transaction Form
Acquisition of Securities During Affiliated Underwritings
PARTICIPATING FUNDS
.. U.S. Registered Funds (Name of Fund, Aladdin Ticker):
ISHARES EDGE U.S. FIXED INCOME BALANCED RISK ETF (ISHFIBR)
ISHARES IBOXX $ HIGH YIELD CORPORATE BOND ETF (ISHHYLD)
BlackRock Floating Rate Income Trust (BGT2)
BlackRock Core Bond Trust - High Yield (BHK-HYLD)
BlackRock Defined Opportunity Credit Trust (BHL)
BlackRock Multi-Sector Income Trust - High Yield (BIT-HYLD)
BlackRock Limited Duration Income Trust - High Yield (BLW-HYLD)
BlackRock Limited Duration Income Trust - Bank Loans (BLW-LOAN)
BlackRock Floating Rate Income Portfolio (BR-FRI)
BlackRock Funds II, High Yield Bond Portfolio (BR-HIYLD)
BlackRock Multi-Asset Income - High Yield Portfolio (BR-INC-HY)
BlackRock Multi-Asset Income - Passive High Yield Portfolio (BR-INC-PHY)
BlackRock Credit Strategies Income - High Yield (BR-MSBHY)
BlackRock Credit Allocation Income Trust (Preferred Sleeve) (BTZ-PREF)
BlackRock High Yield Portfolio of BlackRock Series Fund, Inc (BVA-HI)
BlackRock High Yield V.I. Fund (BVA-HY)
BlackRock Debt Strategies Fund, Inc. (DSU)
BlackRock Floating Rate Income Strategies Fund, Inc. (FRA)
BlackRock Corporate High Yield Fund, Inc. (HYT)
MIST BlackRock High Yield Portfolio (MIST-HY)
AST BlackRock Global Strategies Portfolio (US High Yield) (PRU-AA-HY)
THE OFFERING
KEY CHARACTERISTICS (COMPLETE ALL FIELDS)
Date of Offering Commencement: 10-06-2016
Security Type: BND/CORP
Issuer Gulfport Energy Corporation. (2024)
Selling Underwriter Credit Suisse Securities (USA) LLC
Affiliated Underwriter(s) [X] PNC Capital Markets LLC
[_] Other:
List of Underwriter(s) Credit Suisse Securities (USA) LLC., Scotia
Capital (USA) Inc., Barclays Capital Inc,
KeyBanc Capital Markets Inc, Wells Fargo
Securities, LLC, BNP Paribas Securities Corp,
BBVA Securities Inc, PNC Capital Markets LLC,
U.S. Bancorp Investments, Inc, IBERIA Capital
Partners L.L.C, Samuel A. Ramirez & Company,
Inc.
Page 1 of 2
Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK]
TRANSACTION DETAILS
Date of Purchase 10-06-2016
Purchase Price/Share
(PER SHARE / % OF PAR) $100.00 Total Commission, Spread or Profit 1.43625%
1. Aggregate Principal Amount Purchased (a+b) $ 35,000,000
a. US Registered Funds
(Appendix attached with individual Fund/Client purchase) $ 17,753,000
b. Other BlackRock Clients $ 17,247,000
2. Aggregate Principal Amount of Offering $650,000,000
FUND RATIO
[Divide Sum of #1 by #2]
Must be less than 0.25 0.05385
Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK]
LEGAL REQUIREMENTS
OFFERING TYPE (CHECK ONE)
The securities fall into one of the following transaction types (see
Definitions):
[_] U.S. Registered Public Offering... [Issuer must have 3 years of continuous
operations]
[X] Eligible Rule 144A Offering....... [Issuer must have 3 years of continuous
operations]
[_] Eligible Municipal Securities
[_] Eligible Foreign Offering......... [Issuer must have 3 years of continuous
operations]
[_] Government Securities Offering.... [Issuer must have 3 years of continuous
operations]
TIMING AND PRICE (CHECK ONE OR BOTH)
[X] The securities were purchased before the end of the first day on which any
sales were made, at a price that was not more than the price paid by each
other purchaser of securities in that offering or in any concurrent
offering of the securities; and
[_] If the securities are offered for subscription upon exercise of rights, the
securities were purchased on or before the fourth day before the day on
which the rights offering terminated.
FIRM COMMITMENT OFFERING (CHECK ONE)
[X] YES The securities were offered pursuant to an underwriting or similar
[_] NO agreement under which the underwriters were committed to purchase all
of the securities being offered, except those purchased by others
pursuant to a rights offering, if the underwriters purchased any of
the securities.
NO BENEFIT TO AFFILIATED UNDERWRITER (CHECK ONE)
[X] YES No affiliated underwriter was a direct or indirect participant in, or
[_] NO benefited directly or indirectly from, the transaction.
Completed by: Dillip Behera Date: 10-13-2016
-------------------------------- ------------
Global Syndicate Team Member
Approved by: Steven DeLaura Date: 10-13-2016
-------------------------------- ------------
Global Syndicate Team Member
Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK]
DEFINITIONS
TERM DEFINITION
Fund Ratio Number appearing at the bottom of page 1 of 2
of the Rule 10f-3 Report form. It is the sum of
the Funds' participation in the offering by the
Funds and other accounts managed by BlackRock
divided by the total amount of the offering.
Eligible Foreign Offering The securities are sold in a public offering
conducted under the laws of a country other
than the United States and
(a) the offering is subject to regulation in
such country by a "foreign financial
regulatory authority," as defined in
Section 2(a)(50) of the Investment Company
Act of 1940;
(b) the securities were offered at a fixed
price to all purchasers in the offering
(except for any rights to purchase
securities that are required by law to be
granted to existing security holders of the
issuer);
(c) financial statements, prepared and audited
as required or permitted by the appropriate
foreign financial regulatory authority in
such country, for the two years prior to
the offering, were made available to the
public and prospective purchasers in
connection with the offering; and
(d) if the issuer is a "domestic issuer," i.e.,
other than a foreign government, a national
of any foreign country, or a corporation or
other organization incorporated or
organized under the laws of any foreign
country, it (1) has a class of securities
registered pursuant to section 12(b) or
12(g) of the Securities Exchange Act of
1934 or is required to file reports
pursuant to section 15(d) of that act, and
(2) has filed all the material required to
be filed pursuant to section 13(a) or 15(d)
of that act for a period of at least 12
months immediately preceding the sale of
securities (or for such shorter period that
the issuer was required to file such
material)
Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK]
TERM DEFINITION
Eligible Municipal Securities The securities:
(a) are direct obligations of, or obligations
guaranteed as to principal or interest by,
a State or any political subdivision
thereof, or any agency or instrumentality
of a State or any political subdivision
thereof, or any municipal corporate
instrumentality of one or more States, or
any security which is an industrial
development bond (as defined in section
103(c)(2) of Title 26) the interest on
which is excludable from gross income under
certain provisions of the Internal Revenue
Code;
(b) are sufficiently liquid that they can be
sold at or near their carrying value within
a reasonably short period of time; and
(c) either
(1) are subject to no greater than moderate
credit risk; or
(2) if the issuer of the municipal
securities, or the entity supplying the
revenues or other payments from which
the issue is to be paid, has been in
continuous operation for less than
three years, including the operation of
any predecessors, the securities are
subject to a minimal or low amount of
credit risk.
Also, purchases of municipal securities may not
be designated as group sales or otherwise
allocated to the account of any prohibited
seller (i.e., an affiliated underwriter).
Eligible Rule 144A Offering The securities are sold in an offering where
(a) the securities are offered or sold in
transactions exempt from registration under
Section 4(2) of the Securities Act of 1933,
Rule 144A thereunder, or Rules 501-508
thereunder;
(b) the securities were sold to persons that
the seller and any person acting on behalf
of the seller reasonably believe to include
qualified institutional buyers, as defined
in Rule 144A ("QIBs"); and
(c) the seller and any person acting on behalf
of the seller reasonably believe that the
securities are eligible for resale to other
QIBs pursuant to Rule 144A.
Government Securities Offering The security is issued or guaranteed as to
principal or interest by the United States, or
by a person controlled or supervised by and
acting as an instrumentality of the Government
of the United States pursuant to authority
granted by the Congress of the United States;
or any certificate of deposit for any of the
foregoing.
Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK]
TERM DEFINITION
U.S. Registered Public The securities offered are registered under the
Offering. Securities Act of 1933 that are being offered
to the public.
EX-99.77O RULE 10F-3
3
77O21.txt
[LOGO OF BLACKROCK]
Rule 10f-3 Transaction Form
Acquisition of Securities During Affiliated Underwritings
PARTICIPATING FUNDS
.. U.S. Registered Funds (Name of Fund, Aladdin Ticker):
ISHARES GLOBAL HIGH YIELD CORPORATE BOND ETF (ISHGHYG)
ISHARES IBOXX $ HIGH YIELD CORPORATE BOND ETF (ISHHYLD)
ISHARES CORE TOTAL USD BOND MARKET ETF (ISHIUSB)
BlackRock Floating Rate Income Trust (BGT2)
BlackRock Core Bond Trust - High Yield (BHK-HYLD)
BlackRock Defined Opportunity Credit Trust (BHL)
BlackRock Multi-Sector Income Trust - High Yield (BIT-HYLD)
BlackRock Limited Duration Income Trust - High Yield (BLW-HYLD)
BlackRock Limited Duration Income Trust - Bank Loans (BLW-LOAN)
BlackRock Floating Rate Income Portfolio (BR-FRI)
BlackRock Funds, BlackRock Global Long/Short Credit Fund (BR-GC)
BlackRock Funds II, High Yield Bond Portfolio (BR-HIYLD)
BlackRock Multi-Asset Income - High Yield Portfolio (BR-INC-HY)
BlackRock Multi-Asset Income - Passive High Yield Portfolio (BR-INC-PHY)
BlackRock Credit Strategies Income - High Yield (BR-MSBHY)
BlackRock Credit Allocation Income Trust (Preferred Sleeve) (BTZ-PREF)
BlackRock High Yield Portfolio of BlackRock Series Fund, Inc (BVA-HI)
BlackRock High Yield V.I. Fund (BVA-HY)
BlackRock Debt Strategies Fund, Inc. (DSU)
BlackRock Floating Rate Income Strategies Fund, Inc. (FRA)
BlackRock Corporate High Yield Fund, Inc. (HYT)
MIST BlackRock High Yield Portfolio (MIST-HY)
AST BlackRock Global Strategies Portfolio (US High Yield) (PRU-AA-HY)
JNL/BlackRock Global Long Short Credit Fund (SMF_CC-GC)
THE OFFERING
KEY CHARACTERISTICS (COMPLETE ALL FIELDS)
Date of Offering Commencement: 12-15-2016
Security Type: BND/CORP
Issuer Gulfport Energy Corporation (2025)
Selling Underwriter Credit Suisse Securities (USA) LLC
Affiliated Underwriter(s) [X] PNC Capital Markets LLC
[_] Other:
List of Underwriter(s) Credit Suisse Securities (USA) LLC, Scotia
Capital (USA) Inc., Barclays Capital Inc,
KeyBanc Capital Markets Inc., PNC Capital
Markets LLC, Wells Fargo Securities, LLC,
Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Morgan Stanley & Co. LLC, BBVA
Securities Inc., U.S. Bancorp Investments,
Inc., IBERIA Capital Partners L.L.C., Samuel
A. Ramirez & Company, Inc., BOK Financial
Securities, Inc.
Page 1 of 2
Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK]
TRANSACTION DETAILS
Date of Purchase 12-15-2016
Purchase Price/Share
(PER SHARE / % OF PAR) $100 Total Commission, Spread or Profit 1.440%
1. Aggregate Principal Amount Purchased (a+b) $ 50,000,000
a. US Registered Funds
(Appendix attached with individual Fund/Client purchase) $ 28,362,000
b. Other BlackRock Clients $ 21,638,000
2. Aggregate Principal Amount of Offering $600,000,000
FUND RATIO
[Divide Sum of #1 by #2]
Must be less than 0.25 0.08333
Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK]
LEGAL REQUIREMENTS
OFFERING TYPE (CHECK ONE)
The securities fall into one of the following transaction types (see
Definitions):
[_] U.S. Registered Public Offering... [Issuer must have 3 years of continuous
operations]
[X] Eligible Rule 144A Offering....... [Issuer must have 3 years of continuous
operations]
[_] Eligible Municipal Securities
[_] Eligible Foreign Offering......... [Issuer must have 3 years of continuous
operations]
[_] Government Securities Offering.... [Issuer must have 3 years of continuous
operations]
TIMING AND PRICE (CHECK ONE OR BOTH)
[X] The securities were purchased before the end of the first day on which any
sales were made, at a price that was not more than the price paid by each
other purchaser of securities in that offering or in any concurrent
offering of the securities; and
[_] If the securities are offered for subscription upon exercise of rights, the
securities were purchased on or before the fourth day before the day on
which the rights offering terminated.
FIRM COMMITMENT OFFERING (CHECK ONE)
[X] YES The securities were offered pursuant to an underwriting or similar
[_] NO agreement under which the underwriters were committed to purchase all
of the securities being offered, except those purchased by others
pursuant to a rights offering, if the underwriters purchased any of
the securities.
NO BENEFIT TO AFFILIATED UNDERWRITER (CHECK ONE)
[X] YES No affiliated underwriter was a direct or indirect participant in, or
[_] NO benefited directly or indirectly from, the transaction.
Completed by: Dipankar Banerjee Date: 12-21-2016
-------------------------------- ------------
Global Syndicate Team Member
Approved by: Steven DeLaura Date: 12-21-2016
-------------------------------- ------------
Global Syndicate Team Member
Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK]
DEFINITIONS
TERM DEFINITION
Fund Ratio Number appearing at the bottom of page 1 of 2
of the Rule 10f-3 Report form. It is the sum of
the Funds' participation in the offering by the
Funds and other accounts managed by BlackRock
divided by the total amount of the offering.
Eligible Foreign Offering The securities are sold in a public offering
conducted under the laws of a country other
than the United States and
(a) the offering is subject to regulation in
such country by a "foreign financial
regulatory authority," as defined in
Section 2(a)(50) of the Investment Company
Act of 1940;
(b) the securities were offered at a fixed
price to all purchasers in the offering
(except for any rights to purchase
securities that are required by law to be
granted to existing security holders of the
issuer);
(c) financial statements, prepared and audited
as required or permitted by the appropriate
foreign financial regulatory authority in
such country, for the two years prior to
the offering, were made available to the
public and prospective purchasers in
connection with the offering; and
(d) if the issuer is a "domestic issuer," i.e.,
other than a foreign government, a national
of any foreign country, or a corporation or
other organization incorporated or
organized under the laws of any foreign
country, it (1) has a class of securities
registered pursuant to section 12(b) or
12(g) of the Securities Exchange Act of
1934 or is required to file reports
pursuant to section 15(d) of that act, and
(2) has filed all the material required to
be filed pursuant to section 13(a) or 15(d)
of that act for a period of at least 12
months immediately preceding the sale of
securities (or for such shorter period that
the issuer was required to file such
material)
Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK]
TERM DEFINITION
Eligible Municipal Securities The securities:
(a) are direct obligations of, or obligations
guaranteed as to principal or interest by,
a State or any political subdivision
thereof, or any agency or instrumentality
of a State or any political subdivision
thereof, or any municipal corporate
instrumentality of one or more States, or
any security which is an industrial
development bond (as defined in section
103(c)(2) of Title 26) the interest on
which is excludable from gross income under
certain provisions of the Internal Revenue
Code;
(b) are sufficiently liquid that they can be
sold at or near their carrying value within
a reasonably short period of time; and
(c) either
(1) are subject to no greater than moderate
credit risk; or
(2) if the issuer of the municipal
securities, or the entity supplying the
revenues or other payments from which
the issue is to be paid, has been in
continuous operation for less than
three years, including the operation of
any predecessors, the securities are
subject to a minimal or low amount of
credit risk.
Also, purchases of municipal securities may not
be designated as group sales or otherwise
allocated to the account of any prohibited
seller (i.e., an affiliated underwriter).
Eligible Rule 144A Offering The securities are sold in an offering where
(a) the securities are offered or sold in
transactions exempt from registration under
Section 4(2) of the Securities Act of 1933,
Rule 144A thereunder, or Rules 501-508
thereunder;
(b) the securities were sold to persons that
the seller and any person acting on behalf
of the seller reasonably believe to include
qualified institutional buyers, as defined
in Rule 144A ("QIBs"); and
(c) the seller and any person acting on behalf
of the seller reasonably believe that the
securities are eligible for resale to other
QIBs pursuant to Rule 144A.
Government Securities Offering The security is issued or guaranteed as to
principal or interest by the United States, or
by a person controlled or supervised by and
acting as an instrumentality of the Government
of the United States pursuant to authority
granted by the Congress of the United States;
or any certificate of deposit for any of the
foregoing.
Rule 10f-3 Report - Definitions [LOGO OF BLACKROCK]
TERM DEFINITION
U.S. Registered Public The securities offered are registered under the
Offering. Securities Act of 1933 that are being offered
to the public.