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
| BlackRock Global Floating Rate Income Trust |
| (Exact name of registrant as specified in charter) |
| 100 Bellevue Parkway, Wilmington, DE | 19809 |
| (Address of principal executive offices) | (Zip code) |
| Robert S. Kapito, President |
| BlackRock Global Floating Rate Income Trust |
| 40 East 52nd Street, New York, NY 10022 |
| (Name and address of agent for service) |
Registrant’s telephone number, including area code: 888-825-2257
Date of fiscal year end: December 31, 2007
Date of reporting period: March 31, 2007
Item 1. Schedule of Investments.
The
Registrant’s unaudited schedule of investments as of the close of the reporting
period pursuant to Rule 30b1-5 under the Investment Company Act of 1940 is as
follows:
PORTFOLIO OF INVESTMENTS (unaudited)
MARCH 31, 2007
| BlackRock Global Floating Rate Income Trust (BGT) |
(Percentages shown are based on Net Assets)
|
Principal
|
|||||
|
Amount
|
|||||
|
(000)
|
Description
|
Value
|
|||
| LONG-TERM INVESTMENTS—158.0% | |||||
| Corporate Bonds—22.4% | |||||
| Aerospace & Defense—0.2% | |||||
| $ 75 | 1 | Bombardier, Inc., 8.00%, 11/15/14 (Canada) | $ |
77,625 | |
| 671 | DI Finance/DynCorp Intl., Ser. B, 9.50%, 2/15/13 | 714,615 | |||
| Total Aerospace & Defense | 792,240 | ||||
| Automotive—0.1% | |||||
| AutoNation, Inc., | |||||
| 60 | 7.00%, 4/15/14 | 60,600 | |||
| 70 | 2 | 7.36%, 4/15/13 | 70,700 | ||
| 150 | 1,2 | Avis Budget Car Rental LLC/Avis Budget Finance, Inc., 7.86%, 5/15/14 | 153,000 | ||
| 60 | 1,2 | Goodyear Tire & Rubber Co., 9.14%, 12/01/09 | 60,300 | ||
| 150 | Lear Corp., Ser. B, 8.75%, 12/01/16 | 143,250 | |||
| 120 | Metaldyne Corp., 10.00%, 11/01/13 | 122,700 | |||
| Total Automotive | 610,550 | ||||
| Basic Materials—3.3% | |||||
| 1,000 | 2 | Abitibi-Consolidated, Inc., 8.855%, 6/15/11 (Canada) | 962,500 | ||
| 970 | AK Steel Corp., 7.75%, 6/15/12 | 985,763 | |||
| 125 | 1 | American Pacific Corp., 9.00%, 2/01/15 | 125,781 | ||
| 260 | 2 | Boise Cascade LLC, 8.235%, 10/15/12 | 260,975 | ||
| 2,040 | 2 | Bowater, Inc., 8.355%, 3/15/10 | 2,045,100 | ||
| 10 | Chemtura Corp., 6.875%, 6/01/16 | 9,675 | |||
| 90 | CPG Intl. I, Inc., 10.50%, 7/01/13 | 94,500 | |||
| 20 | Domtar, Inc., 7.125%, 8/15/15 (Canada) | 19,900 | |||
| 70 | Donohue Forest Products, 7.625%, 5/15/07 (Canada) | 70,175 | |||
| 250 | 2 | Freeport-McMoRan Copper & Gold, Inc., 8.564%, 4/01/15 | 262,500 | ||
| 750 | Hercules, Inc., 6.75%, 10/15/29 | 750,000 | |||
| Ineos Group Holdings Plc (United Kingdom) | |||||
| 225 | 7.875%, 2/07/16 (EUR) | 281,029 | |||
| 430 | 1 | 8.50%, 2/15/16 | 411,725 | ||
| 625 | 1 | Key Plastics LLC/Key Plastics Finance Corp., 11.75%, 3/15/13 | 631,250 | ||
| 4,000 | 3 | Lecta S.A., Zero Coupon, 2/15/14 (EUR) (Luxembourg) | 5,396,834 | ||
| Lyondell Chemical Co., | |||||
| 100 | 8.00%, 9/15/14 | 104,750 | |||
| 170 | 8.25%, 9/15/16 | 181,900 | |||
| 300 | 11.125%, 7/15/12 | 321,000 | |||
| 565 | Nalco Co., 8.875%, 11/15/13 | 600,313 | |||
| NewPage Corp., | |||||
| 55 | 10.00%, 5/01/12 | 60,156 | |||
| 1,500 | 2 | 11.61%, 5/01/12 | 1,640,625 | ||
| 50 | PQ Corp., Zero Coupon, 2/15/13 | 50,500 | |||
| Total Basic Materials | 15,266,951 | ||||
| Building & Development—0.2% | |||||
| 1,000 | 2 | Ainsworth Lumber Co. Ltd., 9.10%, 10/01/10 (Canada) | 795,000 | ||
| 20 | Goodman Global Holding Co., Inc., 7.875%, 12/15/12 | 20,100 | |||
| Total Building & Development | 815,100 | ||||
| Commercial Services—0.0% | |||||
| 40 | 1,2 | NCO Group, Inc., 10.23%, 11/15/13 | 40,100 | ||
| 100 | 1 | Quebecor World, Inc., 9.75%, 1/15/15 (Canada) | 105,000 | ||
| Total Commercial Services | 145,100 | ||||
| Consumer Products—1.1% | |||||
| 1,100 | 2 | Ames True Temper, Inc., 9.36%, 1/15/12 | 1,124,750 | ||
| 50 | Finlay Fine Jewelry Corp., 8.375%, 6/01/12 | 46,000 | |||
| 500 | 1 | General Nutrition Centers, Inc., 9.796%, 3/15/14 | 490,000 | ||
| 388 | Lazy Days RV Center, Inc., 11.75%, 5/15/12 | 397,700 | |||
| 180 | 2 | Levi Strauss & Co., 10.099%, 4/01/12 | 183,600 | ||
| 210 | 1 | Michaels Stores, Inc., 10.00%, 11/01/14 | 225,487 | ||
| 530 | 1,2 | Nutro Products, Inc., 9.40%, 10/15/13 | 545,900 |
1
| BlackRock Global Floating Rate Income Trust (BGT) (continued) |
(Percentages shown are based on Net Assets)
|
Principal
|
|||||
|
Amount
|
|||||
|
(000)
|
Description
|
Value
|
|||
| Consumer Products—(cont'd) | |||||
| $ 80 | 1 | Quebecor World Capital Corp., 8.75%, 3/15/16 (Canada) | $ |
81,000 | |
| 2,000 | Reynolds American, Inc., 7.625%, 6/01/16 | 2,127,662 | |||
| Total Consumer Products | 5,222,099 | ||||
| Containers & Packaging—0.2% | |||||
| Berry Plastics Holding Corp., | |||||
| 110 | 8.875%, 9/15/14 | 112,475 | |||
| 500 | 2 | 9.23%, 9/15/14 | 512,500 | ||
| 150 | 1,2 | Impress Holdings BV, 8.485%, 9/15/13 (Netherlands) | 150,330 | ||
| Total Containers & Packaging | 775,305 | ||||
| Energy—7.8% | |||||
| 750 | 1 | AES Corp., 9.00%, 5/15/15 | 801,562 | ||
| 135 | Chaparral Energy, Inc., 8.50%, 12/01/15 | 133,313 | |||
| Compagnie Generale de Geophysique-Veritas (France) | |||||
| 70 | 7.50%, 5/15/15 | 72,100 | |||
| 50 | 7.75%, 5/15/17 | 52,250 | |||
| 375 | El Paso Production Holding Co., 7.75%, 6/01/13 | 391,875 | |||
| 505 | Foundation Pennsylvania Coal Co., 7.25%, 8/01/14 | 511,313 | |||
| 14,430 | Gazprom OAO, 9.625%, 3/01/13 (Germany) | 17,064,918 | |||
| 40 | Grant Prideco, Inc., Ser. B, 6.125%, 8/15/15 | 39,700 | |||
| 750 | KCS Energy, Inc., 7.125%, 4/01/12 | 742,500 | |||
| Pemex Project Funding Master Trust, | |||||
| 800 | 9.375%, 12/02/08 | 848,800 | |||
| 12,700 | 2 | Ser. 15, 7.16%, 10/15/09 | 13,150,850 | ||
| Reliant Energy, Inc., | |||||
| 180 | 6.75%, 12/15/14 | 190,125 | |||
| 750 | 9.25%, 7/15/10 | 790,312 | |||
| 220 | 1 | SemGroup LP, 8.75%, 11/15/15 | 223,300 | ||
| 300 | Whiting Petroleum Corp., 7.25%, 5/01/13 | 294,750 | |||
| Total Energy | 35,307,668 | ||||
| Entertainment & Leisure—0.1% | |||||
| 130 | 1 | Greektown Holdings LLC, 10.75%, 12/01/13 | 139,100 | ||
| 25 | Poster Financial Group, Inc., 8.75%, 12/01/11 | 26,000 | |||
| 120 | 1 | TDS Investor, 9.875%, 9/01/14 | 125,700 | ||
| 20 | Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp., 6.625%, 12/01/14 | 19,800 | |||
| Total Entertainment & Leisure | 310,600 | ||||
| Financial Institutions—3.6% | |||||
| 90 | AES Ironwood LLC, 8.857%, 11/30/25 | 101,722 | |||
| 2,000 | Alrosa Finance Ltd., 8.125%, 5/06/08 (Luxembourg) | 2,042,000 | |||
| 140 | American Real Estate Partners LP/American Real Estate Finance Corp., 7.125%, 2/15/13 | 138,250 | |||
| 630 | Crum & Forster Holdings Corp., 10.375%, 6/15/13 | 680,400 | |||
| 5,455 | Kazkommerts Intl. BV, 8.50%, 4/16/13 (Netherlands) | 5,754,370 | |||
| 3,000 | 1 | Kazkommertsbank Intl. BV, 8.50%, 4/16/13 (Netherlands) | 3,172,500 | ||
| 25 | 2,4 | Marsh & McLennan Cos., Inc., 5.50%, 7/13/07 | 25,005 | ||
| 250 | 1 | Momentive Performance Materials, Inc., 10.125%, 12/01/14 | 258,125 | ||
| 750 | 1 | Rainbow National Services LLC, 8.75%, 9/01/12 | 797,813 | ||
| 3,000 | 1,2 | TuranAlem Finance BV, 6.735%, 1/22/09 (Netherlands) | 3,110,961 | ||
| 300 | 2 | Universal City Florida Holding Co. I/II, 10.11%, 5/01/10 | 309,375 | ||
| Total Financial Institutions | 16,390,521 | ||||
| Health Care—1.0% | |||||
| 1,750 | 1,2 | Angiotech Pharmaceuticals, Inc., 9.11%, 12/01/13 (Canada) | 1,787,187 | ||
| 1,915 | 1,2 | HealthSouth Corp., 11.354%, 6/15/14 | 2,068,200 | ||
| 125 | Tenet Healthcare Corp., 6.875%, 11/15/31 | 98,750 | |||
| 600 | Universal Hospital Services, Inc., 10.125%, 11/01/11 | 637,500 | |||
| Total Health Care | 4,591,637 | ||||
| Industrials—0.2% | |||||
| 125 | Park-Ohio Industries, Inc., 8.375%, 11/15/14 | 122,500 | |||
| 210 | 1 | Sunstate Equipment Co. LLC, 10.50%, 4/01/13 | 222,600 |
2
| BlackRock Global Floating Rate Income Trust (BGT) (continued) |
(Percentages shown are based on Net Assets)
|
Principal
|
|||||
|
Amount
|
|||||
|
(000)
|
Description
|
Value
|
|||
| Industrials—(cont'd) | |||||
| $ 445 | Trimas Corp., 9.875%, 6/15/12 | $ |
444,444 | ||
| Total Industrials | 789,544 | ||||
| Media—0.9% | |||||
| 50 | Affinion Group, Inc., 10.125%, 10/15/13 | 54,500 | |||
| 100 | 2 | Cablevision Systems Corp., Ser. B, 9.82%, 4/01/09 | 106,000 | ||
| Charter Communications Holdings II LLC/Charter Communications Holdings II Capital Corp., | |||||
| 680 | 10.25%, 9/15/10 | 717,400 | |||
| 45 | Ser. B, 10.25%, 9/15/10 | 47,419 | |||
| Echostar DBS Corp., | |||||
| 135 | 6.375%, 10/01/11 | 135,843 | |||
| 1,055 | 7.00%, 10/01/13 | 1,086,650 | |||
| 230 | 7.125%, 2/01/16 | 237,475 | |||
| 250 | 1 | Idearc, Inc., 8.00%, 11/15/16 | 256,875 | ||
| 100 | 1 | Iesy Repository GMBH, 10.375%, 2/15/15 (Germany) | 106,000 | ||
| 80 | MediaNews Group, Inc., 6.875%, 10/01/13 | 72,800 | |||
| 80 | Network Communications, Inc., 10.75%, 12/01/13 | 81,700 | |||
| 70 | Nexstar Finance, Inc., 7.00%, 1/15/14 | 67,200 | |||
| 410 | 1 | Nielsen Finance LLC/Nielsen Finance Co., 10.00%, 8/01/14 | 446,900 | ||
| 350 | 1,2 | Paxson Communications Corp., 8.61%, 1/15/12 | 357,875 | ||
| 250 | RH Donnelley Corp., Ser. A-3, 8.875%, 1/15/16 | 265,625 | |||
| Total Media | 4,040,262 | ||||
| Real Estate—1.3% | |||||
| 6,350 | Rouse Co., 5.375%, 11/26/13 | 5,975,426 | |||
| Technology—0.1% | |||||
| 35 | 1,2 | Conexant Systems, Inc., 9.11%, 11/15/10 | 35,919 | ||
| Freescale Semiconductor, Inc., | |||||
| 320 | 1 | 9.125%, 12/15/14 | 317,600 | ||
| 100 | 1,2 | 9.23%, 12/15/14 | 99,750 | ||
| 45 | Sensata Technologies, 8.00%, 5/01/14 (Netherlands) | 44,719 | |||
| 20 | SunGard Data Systems, Inc., 10.25%, 8/15/15 | 21,825 | |||
| 140 | Superior Essex Communications LLC/Essex Group, Inc., 9.00%, 4/15/12 | 144,550 | |||
| Total Technology | 664,363 | ||||
| Telecommunications—2.2% | |||||
| 1,250 | 2 | Centennial Communications Corp., 11.099%, 1/01/13 | 1,315,625 | ||
| 310 | Cincinnati Bell, Inc., 7.25%, 7/15/13 | 321,625 | |||
| 115 | 2 | Hawaiian Telcom Communications, Inc., Ser. B, 10.889%, 5/01/13 | 116,725 | ||
| Intelsat Ltd. (Bermuda) | |||||
| 50 | Zero Coupon, 1/15/13 | 52,125 | |||
| 75 | 5.25%, 11/01/08 | 73,781 | |||
| 100 | 1,2 | 8.872%, 1/15/15 | 102,452 | ||
| 200 | Intelsat Subsidiary Holding Co. Ltd., 8.625%, 1/15/15 (Bermuda) | 214,000 | |||
| 1,500 | Nordic Telephone Co. Holding ApS, 9.281%, 5/03/16 (EUR) (Denmark) | 2,048,860 | |||
| 2,350 | 2 | Qwest Communications Intl., Inc., 8.86%, 2/15/09 | 2,373,500 | ||
| 2,500 | 2 | Qwest Corp., 8.605%, 6/15/13 | 2,725,000 | ||
| 400 | 2 | Rogers Wireless Communications, Inc., 8.48%, 12/15/10 (Canada) | 408,000 | ||
| 150 | 1 | Wind Acquisition Finance S.A., 10.75%, 12/01/15 (Luxembourg) | 171,750 | ||
| Total Telecommunications | 9,923,443 | ||||
| Transportation—0.1% | |||||
| 100 | 1 | Britannia Bulk Plc, 11.00%, 12/01/11 (United Kingdom) | 97,000 | ||
| 315 | Horizon Lines LLC, 9.00%, 11/01/12 | 330,750 | |||
| Total Transportation | 427,750 | ||||
| Total Corporate Bonds | 102,048,559 | ||||
| Bank Loans—115.3% | |||||
| Aerospace & Defense—1.6% | |||||
| 2,162 | Caci Intl., Inc., LIBOR + 1.50%, 5/03/11 | 2,160,508 | |||
| 842 | Camp Acquisition Co., Loan A, LIBOR + 3.00%, 8/30/11 | 842,370 | |||
| 983 | DI Finance/DynCorp Intl., Loan B, LIBOR + 2.25%, 1/31/11 | 988,641 | |||
| 500 | MRO Acquisition LLC, LIBOR + 2.50%, 9/15/10 | 501,875 | |||
| Primus Intl., Inc., | |||||
| 30 | 0.50%, 6/16/12 | 29,836 | |||
| 470 | Loan B, LIBOR + 2.50%, 6/16/12 | 472,664 |
3
| BlackRock Global Floating Rate Income Trust (BGT) (continued) |
(Percentages shown are based on Net Assets)
| Principal | |||||
| Amount | |||||
|
(000)
|
Description
|
Value
|
|||
| Aerospace & Defense—(cont'd) | |||||
| $ 702 | Standard Aero Holdings, Inc., LIBOR + 2.25%, 8/18/12 | $ |
704,913 | ||
| 493 | US Investigations Services LLC, Loan B, LIBOR + 2.50%, 10/15/12 | 494,962 | |||
| 1,000 | Wesco Aircraft Hardware Corp., LIBOR + 2.25%, 9/29/13 | 1,006,250 | |||
| Total Aerospace & Defense | 7,202,019 | ||||
| Automotive—5.3% | |||||
| Goodyear Tire & Rubber Co., | |||||
| 500 | LIBOR + 2.75%, 4/01/10 | 503,541 | |||
| 1,000 | LIBOR + 3.50%, 4/01/11 | 1,005,000 | |||
| 993 | GPX Intl. Tire Corp., LIBOR + 2.50%, 3/31/12 | 962,725 | |||
| 743 | IAP Worldwide Services, Inc., LIBOR + 4.25%, 12/31/12 | 744,356 | |||
| 1,750 | Keystone Automotive Industries, Inc., Loan B, LIBOR, 1/15/12 | 1,763,125 | |||
| 449 | Lear Corp., LIBOR + 2.50%, 3/23/12 | 449,051 | |||
| 993 | Mark IV Industries, Inc., LIBOR + 2.50%, 6/30/11 | 999,530 | |||
| Metaldyne Corp., | |||||
| 104 | LIBOR + 4.50%, 1/15/12 | 104,625 | |||
| 706 | LIBOR, 1/15/14 | 711,450 | |||
| 5,000 | Navistar Intl. Corp., LIBOR + 3.25%, 1/30/12 | 5,066,250 | |||
| 1,496 | Rent-A-Center, Inc., Loan B, LIBOR + 1.75%, 6/30/12 | 1,498,735 | |||
| Reynolds & Reynolds Co., | |||||
| 2,993 | LIBOR + 2.00%, 10/31/12 | 3,004,258 | |||
| 1,250 | LIBOR + 5.50%, 10/31/13 | 1,277,735 | |||
| 2,986 | TI Group Automotive Systems, Loan C, LIBOR + 3.25%, 6/30/11 | 2,964,004 | |||
| TRW Automotive Acquisitions Corp., | |||||
| 488 | Loan B, LIBOR + 1.50%, 6/30/12 | 487,087 | |||
| 2,450 | Loan E, LIBOR + 1.50%, 10/31/10 | 2,456,125 | |||
| Total Automotive | 23,997,597 | ||||
| Basic Materials—8.8% | |||||
| 2,346 | Appleton Papers, Inc., LIBOR + 2.25%, 6/30/10 | 2,352,263 | |||
| Basell N.V., | |||||
| 417 | Loan B2, LIBOR + 2.25%, 9/30/13 | 420,964 | |||
| 83 | Loan B4, LIBOR + 2.25%, 8/01/13 | 84,193 | |||
| 417 | Loan C2, LIBOR + 3.00%, 9/30/14 | 420,964 | |||
| 83 | Loan C4, LIBOR + 3.00%, 8/01/14 | 84,193 | |||
| Brenntag Group, | |||||
| 393 | LIBOR + 2.50%, 1/18/14 | 394,200 | |||
| 1,000 | LIBOR + 6.50%, 12/31/12 | 1,010,625 | |||
| 1,607 | Loan B2, LIBOR + 2.50%, 12/31/13 | 1,626,359 | |||
| 500 | Loan B6, LIBOR + 2.25%, 9/15/14 | 675,976 | |||
| 414 | Buckeye Technologies, Inc., LIBOR + 2.00%, 4/15/10 | 414,463 | |||
| 2,000 | Cognis Deutschland, Loan B, LIBOR + 4.75%, 11/15/13 | 2,032,322 | |||
| 848 | Compass Minerals Group, Inc., LIBOR + 1.50%, 12/31/12 | 847,433 | |||
| 5,316 | Huntsman Intl. LLC, Loan B, LIBOR + 1.75%, 8/15/12 | 5,326,832 | |||
| Ineos Group Holdings Plc, | |||||
| 2,025 | Loan A4, LIBOR + 2.25%, 12/16/12 | 2,036,137 | |||
| 1,733 | Loan B2, LIBOR + 2.25%, 12/16/14 | 1,750,547 | |||
| 1,733 | Loan C2, LIBOR + 2.75%, 12/16/13 | 1,750,547 | |||
| 2,709 | Innophos, Inc., LIBOR + 2.25%, 8/15/10 | 2,718,120 | |||
| Invista B.V., | |||||
| 2,351 | Loan B-1, LIBOR + 1.50%, 4/30/11 | 2,354,220 | |||
| 1,246 | Loan B-2, LIBOR + 1.50%, 4/30/11 | 1,251,026 | |||
| 2,232 | John Maneely Co., Loan B, LIBOR + 3.25%, 12/15/13 | 2,237,607 | |||
| 218 | Kraton Polymers LLC, LIBOR + 2.00%, 12/15/10 | 218,928 | |||
| 2,271 | Nalco Co., Loan B, LIBOR + 1.75%, 11/04/10 | 2,282,771 | |||
| 491 | PQ Corp., LIBOR + 2.00%, 2/28/12 | 492,683 | |||
| 494 | Pregis Corp., Loan B-2, LIBOR + 2.50%, 10/15/12 (EUR) | 661,225 | |||
| 498 | Professional Paint, Inc., LIBOR + 2.25%, 5/30/12 | 497,500 | |||
| 2,804 | Rockwood Specialties Group, Inc., Loan E, LIBOR + 2.00%, 8/15/12 | 2,824,130 | |||
| 500 | Solutia, LIBOR, 3/31/08 | 504,375 |
4
| BlackRock Global Floating Rate Income Trust (BGT) (continued) |
(Percentages shown are based on Net Assets)
| Principal | |||||
| Amount | |||||
|
(000)
|
Description
|
Value
|
|||
| Basic Materials—(cont'd) | |||||
| UPC Technology Corp., | |||||
| $ 883 | Loan J, LIBOR, 12/31/13 (EUR) | $ |
1,186,274 | ||
| 1,000 | Loan K, LIBOR, 3/31/13 | 1,342,847 | |||
| Total Basic Materials | 39,799,724 | ||||
| Building & Development—4.3% | |||||
| 499 | Armstrong World Industries, Inc., LIBOR + 1.75%, 10/12/13 | 499,997 | |||
| 1,247 | Beacon Roofing Supply, Inc., Loan B, LIBOR + 2.00%, 10/31/13 | 1,249,992 | |||
| 2,500 | Building Materials America, LIBOR, 3/15/14 | 2,495,313 | |||
| Brand Energy & Infrastructure Services, | |||||
| 500 | LIBOR, 2/15/14 | 500,000 | |||
| 500 | LIBOR, 2/15/15 | 503,125 | |||
| 500 | Loan B, LIBOR + 2.25%, 2/15/14 | 502,344 | |||
| 495 | Contech Construction Products, Inc., LIBOR + 2.00%, 2/15/12 | 497,135 | |||
| 1,500 | Custom Building Products, Inc., LIBOR + 5.00%, 4/30/12 | 1,492,500 | |||
| 2,250 | Edge-Star Partners, LIBOR + 4.00%, 11/18/07 | 2,250,000 | |||
| 1,214 | Euramax Intl., Inc., LIBOR + 7.00% , 7/15/13 | 1,217,321 | |||
| 2,000 | Hanley Wood, LIBOR + 2.25%, 3/07/14 | 1,996,666 | |||
| 498 | Nacco Industries, Inc., LIBOR + 2.00%, 3/31/13 | 499,988 | |||
| 975 | Nortek, Inc., Loan B, LIBOR + 3.00%, 8/24/11 | 978,900 | |||
| 1,737 | Ply Gem Industries, Inc., LIBOR + 3.00% , 8/15/11 | 1,736,875 | |||
| 875 | Rhodes Ranch, LIBOR + 3.25%, 11/15/10 | 873,906 | |||
| 2,475 | United Subcontractors, Inc., LIBOR + 2.75%, 12/31/12 | 2,461,593 | |||
| Total Building & Development | 19,755,655 | ||||
| Conglomerates—3.6% | |||||
| Atlantis Plastics, Inc., | |||||
| 5 | LIBOR + 2.75%, 9/30/11 | 4,950 | |||
| 495 | LIBOR + 9.00%, 9/30/11 | 455,400 | |||
| 737 | Blount Intl., Loan B, LIBOR + 1.75%, 8/15/10 | 736,885 | |||
| 4,950 | Colfax Corp., LIBOR + 2.25%, 11/30/11 (EUR) | 6,645,520 | |||
| Invensys Plc, | |||||
| 1,000 | Loan A, LIBOR + 2.00%, 12/15/10 | 1,006,250 | |||
| 1,783 | Loan B, LIBOR + 2.13%, 12/15/10 (GBP) | 3,512,564 | |||
| Jarden Corp., | |||||
| 250 | LIBOR + 1.75%, 1/24/12 | 250,833 | |||
| 651 | Loan B3, LIBOR + 1.75%, 1/15/12 | 652,494 | |||
| 754 | Mueller Group, Inc., Loan B, LIBOR + 2.00%, 9/30/12 | 759,376 | |||
| 2,433 | Polypore, Inc., LIBOR + 3.00%, 11/15/11 | 2,441,838 | |||
| Total Conglomerates | 16,466,110 | ||||
| Consumer Products—11.9% | |||||
| 993 | 24 Hour Fitness Worldwide, Inc., Loan B, LIBOR + 2.50%, 6/30/12 | 996,222 | |||
| Aearo Technologies, Inc., | |||||
| 993 | LIBOR + 2.50%, 3/31/13 | 1,001,598 | |||
| 1,000 | LIBOR + 6.50%, 9/30/13 | 1,016,250 | |||
| 750 | American Safety Razor Co., LIBOR + 6.25%, 2/15/14 | 759,375 | |||
| 3,000 | Aramark Corp., LIBOR, 1/30/14 | 3,008,181 | |||
| 450 | Arby's Restaurant Group, Inc., Loan B, LIBOR + 2.25%, 7/31/12 | 453,403 | |||
| Berkline Bench Craft, | |||||
| 98 | 5 | Loan B, PRIME + 4.75%, 10/31/11 | 64,823 | ||
| 2,010 | 5 | PRIME + 7.00%, 4/30/12 | 201,010 | ||
| 1,050 | Brickman Group Ltd., LIBOR + 2.00%, 1/30/14 | 1,051,969 | |||
| 750 | Bumble Bee Foods LLC, Loan B, LIBOR + 1.75%, 4/30/11 | 750,000 | |||
| 524 | Burlington Coat Factory Warehouse Corp., Loan B, LIBOR + 2.25%, 4/15/13 | 519,560 | |||
| 492 | Centerplate, Inc., LIBOR + 3.25%, 10/15/10 | 493,712 | |||
| 491 | Chiquita Brands Intl., Inc., Loan C, LIBOR + 3.00%, 7/15/13 | 495,917 | |||
| 995 | Coinmach Corp., Loan B-1, LIBOR + 2.50%, 12/15/12 | 1,003,124 | |||
| 1,613 | Commonwealth Brands, Inc., PRIME + 1.25%, 12/15/12 | 1,619,522 | |||
| 2,221 | Cracker Barrel, Loan B, LIBOR + 1.50%, 5/15/13 | 2,222,796 | |||
| 1,000 | David's Bridal, Inc., LIBOR + 2.00%, 1/30/14 | 995,417 | |||
| 500 | Deutsch Connectors, LIBOR + 4.50%, 2/11/16 | 511,250 |
5
| BlackRock Global Floating Rate Income Trust (BGT) (continued) |
(Percentages shown are based on Net Assets)
| Principal | |||||
| Amount | |||||
|
(000)
|
Description
|
Value
|
|||
| Consumer Products—(cont'd) | |||||
| Dole Food Co., Inc., | |||||
| $ 468 | LIBOR + 1.88%, 4/12/13 | $ |
467,586 | ||
| 1,046 | LIBOR + 2.00%, 4/30/12 | 1,044,179 | |||
| 3,486 | Loan C, LIBOR + 2.00%, 3/31/13 | 3,480,595 | |||
| Eastman Kodak Co., | |||||
| 271 | Loan B1, LIBOR + 2.25%, 10/15/12 | 271,111 | |||
| 222 | Loan B2, LIBOR + 2.25%, 10/15/12 | 222,115 | |||
| 500 | Fender Musical Instruments Corp., LIBOR + 6.00%, 9/30/12 | 505,000 | |||
| Foamex Intl., Inc., | |||||
| 500 | LIBOR + 2.25%, 2/15/13 | 501,250 | |||
| 250 | LIBOR + 4.75%, 2/15/14 | 253,125 | |||
| FoodVest Ltd., (GBP) | |||||
| 438 | Loan B, LIBOR + 2.50%, 4/30/14 | 864,701 | |||
| 438 | Loan C, LIBOR + 3.00%, 4/30/15 | 866,853 | |||
| Fresh Start Bakeries, Inc., | |||||
| 500 | LIBOR + 2.50%, 3/31/14 | 505,000 | |||
| 500 | LIBOR + 5.75%, 9/30/13 | 505,000 | |||
| 474 | FTD, Inc., LIBOR, 8/15/13 | 475,945 | |||
| 350 | Gold Toe, LIBOR + 6.00%, 4/30/14 | 355,250 | |||
| 262 | Landry's Restaurants, Inc., Loan B, LIBOR + 1.75%, 12/31/10 | 262,159 | |||
| 689 | Language Line, Inc., Loan B1, LIBOR + 3.25%, 6/14/11 | 694,245 | |||
| 501 | Latimer/Weetabix, LIBOR + 8.00%, 7/26/16 | 1,015,940 | |||
| 1,000 | 5 | Le-Natures, Inc., Loan B, LIBOR + 4.00%, 9/30/11 | 603,000 | ||
| 1,200 | Maidenform, Inc., LIBOR + 1.75%, 5/14/10 | 1,203,000 | |||
| 891 | Mapco Express, Inc., LIBOR + 2.75%, 5/15/11 | 893,662 | |||
| 1,506 | Neiman-Marcus Group, Inc., LIBOR + 2.00%, 4/15/13 | 1,518,333 | |||
| 1,394 | New Page, Loan B, LIBOR + 2.25%, 4/30/12 | 1,404,572 | |||
| 1,500 | Orchard Supply Hardware Stores Corp., Loan B2, LIBOR + 2.45%, 12/09/07 | 1,515,000 | |||
| 539 | Oreck Corp., Loan B, PRIME + 1.75%, 1/31/12 | 536,768 | |||
| Oriental Trading Co., | |||||
| 995 | LIBOR + 2.25%, 6/30/13 | 998,109 | |||
| 500 | LIBOR + 4.75%, 1/30/14 | 508,125 | |||
| OSI Group LLC, | |||||
| 1,706 | LIBOR + 2.00%, 9/15/11 | 1,709,948 | |||
| 1,706 | Loan B, LIBOR + 2.00%, 9/15/11 | 1,709,977 | |||
| 400 | PETCO Animal Supplies, Inc., LIBOR + 2.75%, 10/31/12 | 402,643 | |||
| 1,047 | Pierre Foods, Inc., Loan B, LIBOR + 2.25%, 7/15/10 | 1,050,483 | |||
| 750 | Pivotal Promontory LLC, LIBOR + 6.50%, 9/15/11 | 718,125 | |||
| 1,906 | Prestige Brands Holdings, Inc., Loan B, LIBOR + 2.25%, 4/07/11 | 1,911,122 | |||
| 1,485 | Roundy's Supermarkets, Inc., LIBOR + 2.75%, 11/15/11 | 1,493,910 | |||
| 673 | Spectrum Brands, Inc., LIBOR + 3.00%, 1/31/12 | 678,030 | |||
| Sturm Foods, Inc., | |||||
| 1,375 | LIBOR + 2.50%, 1/30/14 | 1,375,000 | |||
| 750 | LIBOR + 7.00%, 6/30/14 | 750,465 | |||
| 837 | 5 | Synventive Acquisition, Inc., LIBOR + 14.00%, 2/17/14 | 313,842 | ||
| 831 | Tupperware Corp., LIBOR + 1.50%, 11/07/12 | 830,595 | |||
| 375 | Warnaco, Inc., Loan B, LIBOR + 1.50%, 1/31/12 | 375,229 | |||
| Wastequip, Inc., | |||||
| 311 | LIBOR + 2.25%, 2/15/13 | 313,512 | |||
| 689 | Loan B, LIBOR + 2.25%, 2/15/13 | 693,988 | |||
| Waterpik Technologies, Inc., | |||||
| 451 | LIBOR + 2.25%, 4/15/13 | 450,875 | |||
| 750 | LIBOR + 6.50%, 10/15/13 | 746,250 | |||
| Total Consumer Products | 54,158,746 | ||||
| Containers & Packaging—4.7% | |||||
| Bluegrass Container Co. LLC, | |||||
| 344 | LIBOR + 2.25%, 6/30/13 | 347,349 | |||
| 1,497 | LIBOR + 5.00%, 12/30/13 | 1,524,552 | |||
| 1,151 | Loan B, LIBOR + 2.25%, 6/30/13 | 1,163,306 | |||
| 200 | Covalence Specialty Materials Corp., LIBOR + 3.25%, 8/15/13 | 201,250 | |||
| Georgia-Pacific Corp., | |||||
| 975 | LIBOR + 1.75%, 2/28/13 | 979,552 | |||
| 1,500 | LIBOR + 1.75%, 2/28/14 | 1,502,046 |
6
| BlackRock Global Floating Rate Income Trust (BGT) (continued) |
(Percentages shown are based on Net Assets)
| Principal | |||||
| Amount | |||||
|
(000)
|
Description
|
Value
|
|||
| Containers & Packaging—(cont'd) | |||||
| Graham Packaging Co., LP | |||||
| $ 5,658 | LIBOR, 10/01/11 | $ |
5,676,353 | ||
| 1,400 | Loan B, LIBOR + 2.25%, 10/01/11 | 1,412,099 | |||
| 3,258 | Graphic Packaging Intl., Inc., Loan C, LIBOR + 2.50%, 8/08/10 | 3,287,959 | |||
| Smurfit-Stone Container Enterprises, Inc., | |||||
| 495 | Loan B, LIBOR + 2.00%, 11/01/11 | 498,591 | |||
| 750 | Loan B1, LIBOR + 2.50%, 2/15/15 (EUR) | 1,013,941 | |||
| 750 | Loan C1, LIBOR + 3.00%, 2/15/14 (EUR) | 1,010,654 | |||
| 2,917 | Solo Cup, Inc., LIBOR + 3.50%, 2/27/11 | 2,954,673 | |||
| Total Containers & Packaging | 21,572,325 | ||||
| Ecological Services & Equipment—0.6% | |||||
| Envirosolutions, Inc., | |||||
| 927 | LIBOR + 3.50%, 2/28/09 | 934,770 | |||
| 1,073 | LIBOR + 3.50%, 7/15/12 | 1,081,480 | |||
| 500 | Global Geophysical, LIBOR, 2/15/14 | 504,063 | |||
| Total Ecological Services & Equipment | 2,520,313 | ||||
| Energy—7.5% | |||||
| 1,500 | AES Corp., LIBOR + 1.75%, 4/30/08 | 1,508,437 | |||
| 532 | Astoria Generating Co. Acquisitions LLC, Loan B, LIBOR + 2.00%, 2/23/13 | 533,824 | |||
| 500 | Boart Longyear Co., LIBOR + 7.00%, 10/31/13 | 508,125 | |||
| Coffeyville Resources LLC, | |||||
| 324 | LIBOR + 2.50%, 12/21/13 | 327,703 | |||
| 1,676 | Loan D, LIBOR + 3.00%, 12/21/13 | 1,693,131 | |||
| Coleto Creek Power, | |||||
| 127 | LIBOR + 2.75%, 7/31/13 | 127,813 | |||
| 1,863 | Loan B, LIBOR + 2.75%, 7/31/13 | 1,869,459 | |||
| 1,000 | Exco Resources, Inc., LIBOR + 5.50%, 10/31/11 | 1,008,750 | |||
| Flint, (EUR) | |||||
| 833 | Loan B7, LIBOR + 2.50%, 12/20/14 | 1,122,080 | |||
| 833 | Loan C7, LIBOR + 3.00%, 12/20/15 | 1,122,080 | |||
| Generac Power Systems, Inc., | |||||
| 990 | LIBOR + 2.50%, 11/15/13 | 994,207 | |||
| 750 | LIBOR + 6.00%, 5/15/14 | 753,750 | |||
| 1,485 | Key Energy Services, Inc., Loan C, LIBOR + 2.50%, 8/15/12 | 1,494,281 | |||
| 962 | LSP General Finance Co. LLC, LIBOR + 1.75% , 4/15/13 | 962,201 | |||
| MACH Gen LLC, | |||||
| 70 | LIBOR, 2/22/14 | 70,277 | |||
| 680 | LIBOR + 2.00%, 2/22/14 | 677,988 | |||
| 1,000 | McJunkin Corp., Loan B, LIBOR + 2.25%, 1/30/14 | 1,007,188 | |||
| 496 | MEG Energy Corp., Loan B, LIBOR + 2.00%, 4/15/13 | 500,049 | |||
| 990 | Mirant N.A. LLC, Loan B, LIBOR + 1.75%, 1/05/13 | 991,114 | |||
| Northeast Energy, | |||||
| 159 | LIBOR + 2.50%, 10/31/13 | 159,567 | |||
| 750 | LIBOR + 4.50%, 10/31/14 | 758,125 | |||
| 1,341 | Loan B, LIBOR + 2.50%, 10/31/13 | 1,350,183 | |||
| 4,514 | NRG Energy, Inc., LIBOR + 2.00%, 1/31/13 | 4,540,963 | |||
| 358 | Petro Geological Services, Loan B, LIBOR + 2.50%, 12/31/12 | 360,063 | |||
| Plum Point Energy Associates, | |||||
| 678 | TBD, 3/14/14 | 684,174 | |||
| 186 | Loan B, LIBOR + 3.25%, 3/14/14 | 187,910 | |||
| 104 | Regency Gas, LIBOR + 2.50%, 8/15/13 | 104,460 | |||
| 1,400 | SandRidge Energy, Inc., LIBOR, 3/01/14 | 1,396,500 | |||
| 2,100 | SemCrude LP, LIBOR + 2.25% , 2/28/11 | 2,099,422 | |||
| TPF Generation Holdings LLC, | |||||
| 151 | LIBOR + 2.00%, 12/31/13 | 151,413 | |||
| 47 | LIBOR + 2.10%, 12/31/13 | 47,465 | |||
| 802 | Loan B, LIBOR + 2.00%, 4/12/26 | 806,903 | |||
| 1,486 | Trinidad Energy Services Income Trust, LIBOR + 2.50%, 4/15/11 | 1,489,966 | |||
| 1,000 | Western Refining, TBD, 3/15/14 | 1,002,656 |
7
| BlackRock Global Floating Rate Income Trust (BGT) (continued) |
(Percentages shown are based on Net Assets)
| Principal | |||||
| Amount | |||||
|
(000)
|
Description | Value
|
|||
| Energy —(cont’d) | |||||
| Wolf Hollow I LP, | |||||
| $ 500 | LIBOR, 12/15/12 | $ |
500,000 | ||
| 400 | LIBOR + 2.25%, 6/15/12 | 392,000 | |||
| 100 | LIBOR + 2.25%, 6/22/12 | 98,000 | |||
| 474 | Loan B, LIBOR + 2.25%, 6/15/12 | 464,676 | |||
| Total Energy | 33,866,903 | ||||
| Entertainment & Leisure—6.3% | |||||
| 898 | Blockbuster Entertainment Corp., Loan B, LIBOR + 3.50%, 8/20/11 | 906,116 | |||
| 1,122 | Cinemark, Inc., Loan B, LIBOR + 1.75%, 10/05/13 | 1,126,396 | |||
| 750 | Edge Las Vegas, LIBOR + 3.50%, 6/15/07 | 748,125 | |||
| 938 | Fairmont Hotels & Resorts, Inc., Loan B, LIBOR + 3.25%, 7/15/11 | 942,598 | |||
| 1,995 | Greektown Holdings LLC, Loan B, LIBOR + 2.50%, 12/15/12 | 2,009,962 | |||
| Green Valley Ranch Gaming LLC, | |||||
| 250 | LIBOR, 8/30/14 | 252,313 | |||
| 482 | LIBOR + 2.00%, 1/29/12 | 483,324 | |||
| 500 | LIBOR + 3.25%, 1/29/12 | 504,625 | |||
| 2,500 | Hallmark Entertainment LLC, Loan B, LIBOR + 3.25%, 12/31/11 | 2,500,000 | |||
| 1,478 | Hit Entertainment Ltd., LIBOR + 2.25%, 8/31/12 | 1,483,041 | |||
| Hollywood Theaters, Inc., | |||||
| 2,500 | LIBOR + 7.00%, 1/21/10 | 2,521,875 | |||
| 1,706 | LIBOR + 3.25%, 8/01/09 | 1,721,180 | |||
| 1,477 | Kerasotes Theatres, Inc., Loan B, LIBOR + 2.50%, 11/01/11 | 1,483,618 | |||
| 2,978 | Metro-Goldwyn-Mayer Studios, Inc., Loan B, LIBOR + 3.25%, 4/15/12 | 2,977,268 | |||
| 750 | Riverside Casino & Golf Resort LLC, Loan B, LIBOR + 3.50%, 11/15/12 | 764,063 | |||
| 750 | Time Warner, Inc., Loan B, LIBOR + 2.00%, 10/31/13 | 753,281 | |||
| 524 | Travelport, Inc., LIBOR + 2.50% , 8/31/13 | 528,387 | |||
| 925 | Universal City Development Partners LP, Loan B, LIBOR + 2.00%, 6/30/12 | 930,660 | |||
| 1,500 | Venetian Casino Resorts LLC, Loan B, LIBOR + 1.75% , 6/15/11 | 1,508,943 | |||
| Wembley, Inc., | |||||
| 1,495 | LIBOR + 2.50%, 8/31/12 | 1,506,221 | |||
| 990 | LIBOR + 4.25%, 8/31/11 | 998,662 | |||
| 1,099 | Wyndham Intl., Inc., Loan E, LIBOR + 4.50%, 9/11/07 | 1,104,847 | |||
| 818 | Yellowstone Mountain Club, LIBOR + 2.38%, 10/15/10 | 817,648 | |||
| Total Entertainment & Leisure | 28,573,153 | ||||
| Financial Institutions—11.6% | |||||
| 993 | Advantage Sales & Marketing, Inc., LIBOR + 2.00%, 4/15/13 | 991,673 | |||
| 969 | Arias Acquisitions, Inc., LIBOR + 3.75%, 7/30/11 | 917,950 | |||
| 249 | Arrowhead General Insurance Agency, Inc., LIBOR + 3.00%, 8/15/12 | 250,926 | |||
| Asurion Corp., | |||||
| 979 | LIBOR + 3.00%, 8/30/12 | 990,143 | |||
| 500 | LIBOR + 6.25%, 2/28/13 | 511,250 | |||
| 2,000 | Audatex, LIBOR + 5.50%, 10/15/13 (EUR) | 2,720,125 | |||
| 955 | Avio, LIBOR, 9/25/16 | 980,888 | |||
| Bankruptcy Management, | |||||
| 998 | LIBOR + 2.75%, 6/30/11 | 1,003,111 | |||
| 499 | LIBOR + 6.25%, 7/30/12 | 504,984 | |||
| 4,813 | Billing Services Group, LIBOR + 2.50%, 5/05/12 (EUR) | 6,428,778 | |||
| 929 | BNY Convergex Group LLC, LIBOR + 3.00%, 8/31/13 | 934,375 | |||
| 1,000 | BST Textile, LIBOR, 6/03/09 (EUR) | 1,349,209 | |||
| 451 | CCC Information Services Group, Inc., Loan B, LIBOR + 2.50%, 2/15/13 | 452,245 | |||
| 1,247 | Charter Mac, Loan B, LIBOR + 2.50%, 8/15/12 | 1,251,551 | |||
| 748 | Conseco, Inc., LIBOR + 2.00%, 9/30/13 | 749,528 | |||
| GS Holdings Corp., | |||||
| 83 | LIBOR + 1.75%, 5/15/11 | 83,580 | |||
| 627 | LIBOR + 1.75%, 5/15/13 | 627,754 | |||
| 2,943 | Jostens, Inc., Loan C, LIBOR + 2.00%, 10/15/11 | 2,953,667 | |||
| Liberato Midco Ltd., | |||||
| 367 | LIBOR + 4.00%, 10/27/16 (GBP) | 743,562 | |||
| 500 | Loan B1, LIBOR, 10/27/14 (EUR) | 676,820 | |||
| 500 | Loan C1, LIBOR, 10/27/15 (EUR) | 679,646 | |||
| 906 | Lucite Intl. Finance Plc, LIBOR + 9.00%, 7/15/14 (EUR) | 1,237,383 | |||
| 2,000 | Moeller Group, LIBOR, 9/17/12 (EUR) | 2,710,440 |
8
| BlackRock Global Floating Rate Income Trust (BGT) (continued) |
(Percentages shown are based on Net Assets)
| Principal | |||||
| Amount | |||||
|
(000)
|
Description
|
Value
|
|||
| Financial Institutions—(cont'd) | |||||
| $ 659 | N.E.W. Holdings I LLC, LIBOR + 2.25%, 8/31/13 | $ |
661,829 | ||
| Nasdaq Stock Market, Inc., | |||||
| 974 | Loan B, LIBOR + 1.75%, 4/18/12 | 975,882 | |||
| 564 | Loan C, LIBOR + 1.75%, 4/18/12 | 565,750 | |||
| 1,955 | Owens Illinois Group, Inc., Loan B, LIBOR + 1.50%, 6/30/13 | 2,596,353 | |||
| 1,485 | PinnOak Resources LLC, LIBOR + 3.25%, 11/22/12 | 1,455,300 | |||
| 858 | Professional Service, Inc., Loan B, LIBOR + 2.75%, 10/31/12 | 859,957 | |||
| 499 | Renfro Corp., LIBOR + 1.00%, 9/30/13 | 502,795 | |||
| 1,729 | Ripplewood Phosphorus U.S. LLC, LIBOR + 3.25%, 7/16/11 | 1,729,286 | |||
| 250 | RiskMetrics Group Holdings LLC, LIBOR + 5.50%, 6/15/14 | 253,750 | |||
| 1,119 | Sedgewick Claims Management Services, Inc., Loan B, LIBOR + 2.25%, 2/28/13 | 1,120,717 | |||
| TPG Springs Ltd., | |||||
| 1,757 | LIBOR + 5.25%, 3/22/15 (EUR) | 2,372,961 | |||
| 886 | Loan B, LIBOR + 2.75%, 3/22/13 (GBP) | 1,740,807 | |||
| 886 | Loan C, LIBOR + 3.25%, 3/22/14 (GBP) | 1,746,412 | |||
| TransFirst Holdings, Inc., | |||||
| 1,000 | LIBOR + 6.25%, 8/09/13 | 1,008,750 | |||
| 995 | Loan B, LIBOR + 2.50%, 8/09/12 | 999,975 | |||
| United Biscuits, | |||||
| 1,651 | Loan B1, LIBOR + 2.50%, 12/31/14 (GBP) | 3,296,050 | |||
| 535 | Loan B2, LIBOR, 12/31/14 (EUR) | 724,482 | |||
| 457 | USI Holdings Corp., Loan B, LIBOR + 2.25%, 7/30/08 | 457,215 | |||
| Total Financial Institutions | 52,817,859 | ||||
| Health Care—7.0% | |||||
| 3,297 | Arizant, Inc., LIBOR + 3.25%, 8/15/10 | 3,313,045 | |||
| 2,345 | Community Health Systems, Inc., LIBOR + 1.75%, 8/15/11 | 2,351,547 | |||
| 3,100 | Concentra Operating Corp., Loan B, LIBOR + 2.00%, 9/30/11 | 3,103,694 | |||
| 335 | Duloxetine Royalty, LIBOR + 4.50%, 10/15/13 | 334,513 | |||
| 500 | Emdeon Business Services LLC, LIBOR, 5/30/14 | 510,000 | |||
| 2,000 | Health Mamagement Associates, LIBOR + 1.75%, 2/15/14 | 2,005,312 | |||
| 5,970 | HealthSouth Corp., Loan B, LIBOR + 2.50%, 3/15/13 | 5,995,104 | |||
| 2,925 | IASIS Healthcare Corp., Loan B, LIBOR + 2.25%, 6/30/11 | 2,946,937 | |||
| 1,370 | Jean Coutu Group, Inc., Loan B, LIBOR + 2.50%, 6/30/11 | 1,370,260 | |||
| 437 | Multiplan, Inc., LIBOR + 2.50%, 4/15/13 | 440,351 | |||
| 497 | National Renal Institutes, Inc., Loan B, LIBOR + 2.25%, 4/15/13 | 496,566 | |||
| Quintiles Transnational Corp., | |||||
| 993 | LIBOR + 2.00%, 3/31/13 | 992,811 | |||
| 250 | LIBOR + 4.00%, 3/31/14 | 253,125 | |||
| 983 | Select Medical Corp., Loan B, LIBOR + 2.00%, 2/28/12 | 977,922 | |||
| 2,989 | US Oncology, Inc., LIBOR + 2.25%, 6/30/11 | 3,006,261 | |||
| 983 | Vanguard Health Holding Co. II LLC, LIBOR + 2.25%, 9/30/11 | 988,294 | |||
| Warner Chilcott Corp., | |||||
| 416 | LIBOR + 2.00%, 1/18/12 | 416,622 | |||
| 1,891 | Loan B, LIBOR + 2.00%, 1/18/11 | 1,899,069 | |||
| 519 | Loan C, LIBOR + 2.00%, 1/18/11 | 521,389 | |||
| Total Health Care | 31,922,822 | ||||
| Industrials—3.3% | |||||
| 1,492 | Acosta, Inc., LIBOR + 2.25%, 8/15/13 | 1,502,451 | |||
| Bolthouse Farms, Inc., | |||||
| 990 | LIBOR + 2.25%, 12/01/12 | 993,404 | |||
| 500 | LIBOR + 5.50%, 12/16/13 | 505,625 | |||
| 333 | Chart Industries, Inc., Loan B, LIBOR + 2.00%, 10/15/12 | 334,583 | |||
| 1,850 | Drummond Co., Inc., LIBOR + 1.50%, 2/15/12 | 1,803,750 | |||
| Kion Group, | |||||
| 250 | Loan B, LIBOR, 3/15/15 | 253,476 | |||
| 250 | Loan C, LIBOR, 3/15/16 (EUR) | 254,726 | |||
| 500 | Loan D, LIBOR, 9/15/16 | 684,385 | |||
| Novelis, Inc., | |||||
| 199 | Loan B, LIBOR + 2.25%, 1/13/10 | 199,136 | |||
| 346 | Loan B, LIBOR + 2.25%, 12/30/11 | 345,868 | |||
| 2,500 | Oshkosh Truck Corp., Loan B, LIBOR + 2.00%, 11/30/13 | 2,508,482 | |||
| 625 | QTC Acquisition, Inc., LIBOR + 6.50%, 5/04/13 | 626,563 |
9
| BlackRock Global Floating Rate Income Trust (BGT) (continued) |
(Percentages shown are based on Net Assets)
| Principal | |||||
| Amount | |||||
|
(000)
|
Description | Value
|
|||
| Industrials—(cont'd) | |||||
| Standard Steel LLC, | |||||
| $ 82 | 1.00%, 7/15/12 | $ |
82,600 | ||
| 416 | Loan B, LIBOR + 2.50%, 7/15/12 | 417,184 | |||
| 998 | Stolle Machinery Co. LLC, LIBOR + 2.50%, 9/29/13 | 1,003,111 | |||
| 1,263 | Thermo Fluids, Inc., Loan B, LIBOR + 3.00%, 8/15/11 | 1,263,477 | |||
| 2,000 | Tinnerman Palnut Engineered Products, Inc., LIBOR + 7.75%, 11/01/11 | 1,880,000 | |||
| Trimas Corp., | |||||
| 94 | LIBOR + 2.75%, 7/31/11 | 95,039 | |||
| 405 | Loan B, LIBOR + 2.75%, 7/31/13 | 410,806 | |||
| Total Industrials | 15,164,666 | ||||
| Media—21.8% | |||||
| 475 | Affinion Group, Inc., LIBOR, 3/01/12 | 463,125 | |||
| American Lawyers Media, Inc., | |||||
| 1,706 | LIBOR + 2.50%, 3/15/10 | 1,706,364 | |||
| 2,000 | LIBOR + 5.75%, 3/07/11 | 2,000,000 | |||
| 1,000 | American Media Operations, Inc., Loan B, LIBOR + 3.00%, 1/31/13 | 1,004,792 | |||
| 1,000 | Audio Visual Services Group, Inc., LIBOR + 5.50%, 9/15/14 | 1,003,125 | |||
| 250 | Bresnan Communications Group LLC, LIBOR + 4.50%, 4/15/14 | 253,594 | |||
| 8,398 | Cablecom SCA, Loan A, LIBOR, 12/31/10 (CHF) | 6,911,207 | |||
| 3,970 | Cablevision Systems Corp., LIBOR + 1.75%, 3/31/13 | 3,982,406 | |||
| Casema Kabelcom (EUR), | |||||
| 750 | Loan B, LIBOR + 2.50%, 9/30/14 | 1,013,785 | |||
| 875 | Loan B1, LIBOR + 2.50%, 9/30/14 | 1,182,868 | |||
| 875 | Loan C, LIBOR, 9/30/15 | 1,188,685 | |||
| 750 | Loan C, LIBOR + 3.00%, 9/30/15 | 1,018,920 | |||
| 6,000 | Cequel Communications LLC, LIBOR + 2.25%, 11/01/13 | 6,007,500 | |||
| 3,500 | Charter Communications Holdings LLC/Charter Communication Holdings Capital Corp., LIBOR + 2.63%, | ||||
| 4/28/13 | 3,492,016 | ||||
| 3,235 | Dex Media East LLC/Dex Media East Finance Co., Loan B, LIBOR + 1.50%, 12/31/08 | 3,229,599 | |||
| Dex Media West LLC/Dex Media Finance Co., | |||||
| 780 | Loan B1, LIBOR + 1.50%, 9/09/10 | 778,708 | |||
| 1,406 | Loan B2, LIBOR + 1.50%, 9/01/09 | 1,404,297 | |||
| 500 | Emmis Communications Corp., LIBOR + 2.00%, 10/31/13 | 502,952 | |||
| Gatehouse Media Operating, Inc., | |||||
| 592 | LIBOR + 0.50%, 9/15/14 | 590,188 | |||
| 1,386 | Loan B, LIBOR + 1.75%, 9/15/14 | 1,384,137 | |||
| 5,000 | Idearc, Inc., Loan B, LIBOR + 2.00%, 11/15/14 | 5,028,750 | |||
| 4,000 | KDG Media Technologies AG, Loan A, LIBOR + 2.00%, 3/31/12 (EUR) | 5,376,043 | |||
| 500 | Knology, LIBOR + 2.25%, 3/15/12 | 500,625 | |||
| 1,485 | Liberty Cablevision of Puerto Rico Ltd., LIBOR + 2.25%, 2/15/13 | 1,489,641 | |||
| 1,500 | Mediacom Broadband LLC, Loan D1, LIBOR + 1.75%, 1/31/15 | 1,499,532 | |||
| 1,754 | Mediacom Communications Corp., Loan A, LIBOR + 2.00%, 3/31/10 | 1,740,154 | |||
| 1,975 | Mediacom Illinois LLC, Loan C, LIBOR + 1.75%, 1/15/15 | 1,976,234 | |||
| 1,922 | Mission Broadcasting, Inc., Loan B, LIBOR + 1.75%, 8/14/12 | 1,917,689 | |||
| 400 | Multicultural Radio Broadcasting, Inc., LIBOR + 2.75%, 12/15/12 | 401,000 | |||
| 1,000 | National CineMedia, Inc., Loan B, LIBOR + 1.75%, 2/28/15 | 1,001,250 | |||
| New Wave Communications, | |||||
| 230 | LIBOR, 6/20/13 | 230,000 | |||
| 1,015 | LIBOR + 3.25%, 6/20/13 | 1,015,250 | |||
| 1,821 | Nexstar Finance, Inc., Loan B, LIBOR + 1.75%, 8/14/12 | 1,817,175 | |||
| 3,491 | Nielsen Finance LLC/Nielsen Finance Co., Loan B, LIBOR + 2.25%, 8/15/13 | 3,518,527 | |||
| PagesJaunes Groupe SA (EUR), | |||||
| 1,000 | Loan B2, LIBOR + 2.25%, 1/11/15 | 1,354,126 | |||
| 1,000 | Loan C, LIBOR + 2.75%, 1/11/16 | 1,354,126 | |||
| 500 | Loan D, LIBOR + 4.25%, 1/11/17 | 687,545 | |||
| Penton Media, Inc., | |||||
| 1,125 | LIBOR + 2.25%, 2/15/13 | 1,128,750 | |||
| 1,000 | LIBOR + 5.00%, 2/15/14 | 1,008,750 | |||
| 1,000 | Persona Communications, Inc., LIBOR + 6.00%, 4/30/14 | 1,006,250 | |||
| Prysmian Cables & Systems | |||||
| 2,000 | LIBOR, 1/28/15 (EUR) | 2,708,436 | |||
| 2,034 | Loan B3A, LIBOR + 2.50%, 8/22/14 | 2,038,684 | |||
| 508 | Loan C5A, LIBOR + 3.00%, 8/22/15 | 510,942 |
10
| BlackRock Global Floating Rate Income Trust (BGT) (continued) |
(Percentages shown are based on Net Assets)
| Principal | |||||
| Amount | |||||
|
(000)
|
Description
|
Value
|
|||
| Media—(cont'd) | |||||
| $ 750 | Puerto Rico Cable Acquisition Co., LIBOR + 6.25%, 7/31/11 | $ |
755,625 | ||
| 743 | Quebecor Media, Inc., Loan B, LIBOR + 2.00%, 1/17/13 | 746,522 | |||
| 2,079 | RH Donnelley, Inc., Loan D2, LIBOR + 1.50%, 12/31/11 | 2,079,015 | |||
| TDC (EUR), | |||||
| 1,250 | Loan B, LIBOR, 11/12/14 | 1,685,849 | |||
| 1,250 | Loan C2, LIBOR, 11/12/15 | 1,692,749 | |||
| Univision Communications, | |||||
| 604 | LIBOR, 9/15/14 | 603,478 | |||
| 1,000 | LIBOR, 3/31/16 | 998,750 | |||
| 5,638 | Loan B, LIBOR, 9/15/14 | 5,632,459 | |||
| 500 | Wide Open West Finance LLC, Loan B, LIBOR + 2.25%, 4/30/13 | 502,917 | |||
| 1,902 | WMG Acquisition Corp., LIBOR + 2.00%, 4/08/11 | 1,906,924 | |||
| 2,500 | Yell Group Plc, Loan B, LIBOR + 2.00%, 2/15/13 (EUR) | 3,374,935 | |||
| 989 | Young Broadcasting, Inc., LIBOR + 2.50%, 11/01/12 | 991,963 | |||
| Total Media | 99,398,933 | ||||
| Real Estate—1.3% | |||||
| 904 | Acoustical Materials, LIBOR + 2.75%, 4/30/12 | 895,046 | |||
| 2,250 | Foster Wheeler Ltd., LIBOR - 0.10%, 9/15/11 | 2,255,625 | |||
| 1,641 | Headwaters, Inc., LIBOR + 2.00%, 4/30/11 | 1,643,701 | |||
| 250 | Kyle Acquisition Group LLC, Loan B, LIBOR + 3.50%, 7/20/09 | 252,813 | |||
| 491 | Masonite Intl. Corp., LIBOR + 2.00% , 3/31/13 | 483,382 | |||
| 372 | Stewart Enterprises, Inc., Loan B, LIBOR + 1.75%, 11/30/11 | 372,148 | |||
| Total Real Estate | 5,902,715 | ||||
| Technology—4.3% | |||||
| 465 | Activant Solutions, Inc., Loan B, LIBOR + 2.00%, 4/30/13 | 465,449 | |||
| 743 | Affiliated Computer Services, Inc., Loan B, LIBOR + 2.00%, 3/31/13 | 743,428 | |||
| 1,500 | ClientLogic Corp., LIBOR + 2.50%, 1/30/14 | 1,510,000 | |||
| 500 | Electrical Components Intl. Holdings Co., LIBOR + 6.50%, 5/19/14 | 503,750 | |||
| Intergraph Corp., | |||||
| 500 | LIBOR + 2.25%, 5/15/14 | 502,292 | |||
| 750 | LIBOR, 11/15/14 | 764,531 | |||
| 997 | Marvell Technology Group Ltd., Loan B, LIBOR + 2.00%, 11/06/09 | 1,001,859 | |||
| RedPrairie Corp., | |||||
| 1,250 | LIBOR + 6.50%, 1/31/13 | 1,262,500 | |||
| 995 | Loan B, LIBOR, 7/31/12 | 995,000 | |||
| 1,500 | San Juan Cable, LIBOR + 6.50%, 3/15/13 | 1,501,875 | |||
| Sensata Technologies BV, | |||||
| 1,493 | LIBOR + 2.00%, 4/30/13 (EUR) | 2,000,164 | |||
| 1,990 | Loan B, LIBOR + 1.75%, 4/27/13 | 1,986,947 | |||
| 218 | SS&C Technologies, Inc., LIBOR + 2.50%, 11/04/12 | 219,288 | |||
| 2,463 | SunGard Data Systems, Inc., Loan B, LIBOR + 2.00%, 1/05/13 | 2,480,969 | |||
| 2,027 | UGS Corp., LIBOR + 1.75%, 5/30/11 | 2,027,090 | |||
| 1,179 | Westcom Corp., Loan B, LIBOR + 2.75%, 12/31/10 | 1,179,443 | |||
| 500 | Wire Rope Corp., LIBOR + 2.25%, 1/30/14 | 503,322 | |||
| Total Technology | 19,647,907 | ||||
| Telecommunications—9.6% | |||||
| 1,985 | Atlantic Broadband Finance LLC, Loan B2, LIBOR + 2.25%, 1/30/11 | 2,002,372 | |||
| 500 | Cavalier Telephone Corp., Loan B, LIBOR + 4.75%, 11/30/12 | 507,500 | |||
| 2,169 | Centennial Cellular Operating Co., LIBOR + 2.00%, 2/09/11 | 2,183,576 | |||
| 500 | Country Road Communications LLC, LIBOR + 7.75%, 6/30/13 | 505,000 | |||
| Eircom Group Plc (EUR), | |||||
| 3,000 | Loan B, LIBOR + 2.38%, 9/15/14 | 4,013,277 | |||
| 3,000 | Loan C, LIBOR + 2.75%, 9/15/15 | 4,052,479 | |||
| 1,000 | Loan D, LIBOR, 3/15/16 | 1,367,368 | |||
| 4,000 | Insight Midwest Holdings LLC, Loan B, LIBOR + 2.00%, 4/03/14 | 4,028,332 | |||
| 2,000 | Iowa Telecommunications Services, Inc., Loan B, LIBOR + 1.75%, 11/30/11 | 2,013,750 | |||
| 748 | IPC Acquisition Corp., LIBOR + 2.50%, 8/15/12 | 753,736 | |||
| 990 | Madison River Capital LLC, Loan B1, LIBOR + 2.25%, 7/31/12 | 991,467 | |||
| 1,730 | NTELOS, Inc., LIBOR + 2.25%, 2/24/10 | 1,737,759 | |||
| NTL Investment Holding Ltd. (GBP), | |||||
| 2,420 | Loan B-2, LIBOR + 2.13%, 9/03/12 | 4,773,891 | |||
| 1,500 | Loan C, LIBOR + 2.75%, 3/03/13 | 3,027,873 | |||
| 746 | Nuvox Communications, LIBOR + 5.00%, 5/15/12 | 749,981 |
11
| BlackRock Global Floating Rate Income Trust (BGT) (continued) |
(Percentages shown are based on Net Assets)
| Principal | |||||
| Amount | |||||
|
(000)
|
Description
|
Value
|
|||
| Telecommunications—(cont'd) | |||||
| $ 446 | Triton PCS, Inc., LIBOR + 3.25%, 11/15/09 | $ |
448,723 | ||
| 3,000 | West Corp., Loan B2, LIBOR + 2.38%, 10/31/13 | 3,018,375 | |||
| Wind Acquisition Finance S.A. (EUR), | |||||
| 1,664 | Loan A1, LIBOR + 2.00%, 6/17/12 | 2,224,641 | |||
| 2,000 | Loan B1, LIBOR + 2.50%, 7/31/12 | 2,686,728 | |||
| 2,000 | Loan C1, LIBOR + 3.25%, 7/31/13 | 2,700,087 | |||
| Total Telecommunications | 43,786,915 | ||||
| Transportation—1.8% | |||||
| 824 | Delta Air Lines, Inc., Loan A, LIBOR + 2.75%, 4/15/08 | 825,761 | |||
| 398 | Kenan Advantage Group, LIBOR + 3.00%, 12/15/11 | 401,474 | |||
| 327 | Sirva Worldwide, Inc., LIBOR + 6.25%, 12/31/09 | 318,939 | |||
| 3,000 | U.S. Airways, Loan B, LIBOR, 3/22/14 | 3,008,751 | |||
| 1,500 | United Air Lines, Inc., Loan B, LIBOR + 2.00%, 1/30/14 | 1,499,413 | |||
| 1,863 | Vanguard Car Rental Holdings, Inc., Loan B, LIBOR + 3.00%, 6/30/13 | 1,880,127 | |||
| Total Transportation | 7,934,465 | ||||
| Total Bank Loans | 524,488,827 | ||||
| Foreign Government Bonds—20.3% | |||||
| 3,840 | Argentina Republic, 5.475%, 8/03/12 | 2,759,040 | |||
| 2,904 | Bolivarian Republic of Venezuela, 11.00%, 12/18/07 | 2,904,326 | |||
| Federative Republic of Brazil, | |||||
| 475 | 10.25%, 6/17/13 | 592,088 | |||
| 9,435 | 2 | 11.10%, 6/29/09 | 10,548,330 | ||
| 1,600 | Islamic Republic of Pakistan, 6.75%, 2/19/09 | 1,600,133 | |||
| 4,356 | Kingdom of Morocco, 6.344%, 1/05/09 | 4,385,171 | |||
| 800 | 4 | Malaysia, 8.75%, 6/01/09 | 857,556 | ||
| 2,400 | 4 | Republic of Chile, 6.875%, 4/28/09 | 2,485,200 | ||
| 1,200 | 2 | Republic of Colombia, 8.90%, 3/17/13 | 1,329,000 | ||
| 3,200 | Republic of Costa Rica, 9.335%, 5/15/09 | 3,448,000 | |||
| 2,000 | Republic of Panama, 8.25%, 4/22/08 | 2,058,000 | |||
| Republic of Peru, | |||||
| 5,264 | 6.072%, 3/07/17 | 5,250,840 | |||
| 2,400 | 9.125%, 1/15/08 | 2,460,000 | |||
| 2,400 | 4 | Republic of South Africa, 7.375%, 4/25/12 | 2,607,000 | ||
| 2,400 | Republic of the Philippines, 8.875%, 4/15/08 | 2,481,062 | |||
| 950 | Republic of Uruguay, 6.875%, 1/19/16 (EUR) | 1,359,085 | |||
| Republic of Venezuela, | |||||
| 4,000 | 2 | 6.36%, 4/20/11 (EUR) | 3,963,600 | ||
| 4,800 | 9.125%, 6/18/07 (EUR) | 4,843,200 | |||
| 2,000 | 11.00%, 3/05/08 (EUR) | 2,814,583 | |||
| 4,000 | Russian Federation, 10.00%, 6/26/07 | 4,037,200 | |||
| 2,735 | Turkey, 7.00%, 9/26/16 | 2,782,862 | |||
| Ukraine, | |||||
| 2,800 | 1 | 6.875%, 3/04/11 | 2,894,500 | ||
| 16,100 | 1,2 | 8.775%, 8/05/09 | 17,106,250 | ||
| United Mexican States, | |||||
| 4,800 | 2,4 | 6.06%, 1/13/09 | 4,840,800 | ||
| 10,000 | 8.00%, 12/24/08 (MXN) | 915,453 | |||
| 9,820 | 9.00%, 12/22/11 (MXN) | 943,012 | |||
| Total Foreign Government Bonds | 92,266,291 | ||||
|
Shares
|
|||||
| Common Stocks—0.0% | |||||
| 947 | 6 | Critical Care Systems Intl., Inc. | 5,919 | ||
| Total Long-Term Investments (cost $712,710,792) | 718,809,596 |
12
| BlackRock Global Floating Rate Income Trust (BGT) (continued) |
(Percentages shown are based on Net Assets)
| Principal | ||||||
| Amount | ||||||
|
(000)
|
Description | Value | ||||
| SHORT-TERM INVESTMENTS—0.5% | ||||||
| U.S. Government and Agency Discount Notes—0.5% | ||||||
| Federal Home Loan Bank Disc. Notes, | ||||||
| $ 1,325 | 7 | 5.169%, 4/11/07 N/A | $ |
1,323,101 | ||
| 1,000 | 7 | 5.172%, 4/13/07 N/A | 998,280 | |||
| Total Short-Term Investments (cost $2,321,381) | 2,321,381 | |||||
| Total Investments—158.5% (cost $715,032,1738) | $ |
721,130,977 | ||||
| Liabilities in excess of other assets (including $25,221,218 in payable for investments purchased)—(5.0)% | (22,492,266 | ) |
||||
| Preferred shares at redemption value, including dividends payable —(53.5)% | (243,552,345 | )
|
||||
| Net Assets Applicable to Common Shareholders—100% | $ |
455,086,366 |
|
|
| 1 |
Security is not registered under the Securities Act of 1933. These securities may be resold in transactions in accordance with Rule 144A under that Act, to qualified institutional buyers. As of March 31, 2007, the Trust held 8.3% of its net assets, with a current market value of $37,797,417, in securities restricted as to resale. |
| 2 |
Variable rate security. Rate shown is interest rate as of March 31, 2007. |
| 3 |
Security is fair valued. |
| 4 |
Entire or partial principal amount pledged as collateral for reverse repurchase agreements. |
| 5 |
Issuer is in default and/or bankruptcy. |
| 6 |
Non-income producing security. |
| 7 |
Rate shown is the yield to maturity as of the date of purchase. |
| 8 |
Cost for federal income tax purposes is $709,684,677. The net unrealized appreciation on a tax basis is $11,446,300, consisting of $14,230,125 gross unrealized appreciation and $2,783,825 gross unrealized depreciation. |
| For Trust compliance purposes, the Trust's sector and industry classifications refer to any one or more of the Standard Industry Codes as defined by the SEC. This definition may not apply for purposes of this report, which may combine sector and industry sub-classifications for reporting ease. | |
KEY TO ABBREVIATIONS
CHF — Swiss Franc
EUR — Euro
GBP — British Pound
LIBOR — London Interbank Offered Rate
MXN — Mexican Peso
TBD — To be determined
PRIME — Prime Rate
13
Item 2. Controls and Procedures.
(a) The Registrant’s principal executive and principal financial officers have evaluated the Registrant’s disclosure controls and procedures within 90 days of this filing and have concluded, as of that date, that the Registrant’s disclosure controls and procedures were reasonably designed to ensure that information required to be disclosed by the Registrant in this Form N-Q was recorded, processed, summarized, and reported within the required time periods and that information to be disclosed by the Registrant in this Form N-Q was accumulated and communicated to the Registrant’s management, including its principal executive and principal financial officers, as appropriate, to allow timely decisions regarding required disclosure.
(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 (17 CFR 270.30a -3(d)) 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.
Separate certifications of the Registrant’s Principal Executive and Financial Officers pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 are attached as EX-99.CERT.
SIGNATURES
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.
(Registrant) BlackRock Global Floating Rate Income Trust
| By: | /s/ Donald C. Burke |
| Name: Donald C. Burke | |
| Title: Treasurer and Principal Financial Officer | |
| Date: May 25, 2007 | |
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/ Robert S. Kapito |
| Name: Robert S. Kapito | |
| Title: President and Principal Executive Officer | |
| Date: May 25, 2007 | |
| By: | /s/ Donald C. Burke |
| Name: Donald C. Burke | |
| Title: Treasurer and Principal Financial Officer | |
| Date: May 25, 2007 | |