Regulatory Filings • May 30, 2006
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Download Source FileN-Q 1 c42496_n-q.htm 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, 2006 Date of reporting period:__ March 31, 2006
Item 1. Schedule of Investments. The Registrants 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 MARCH 31, 2006 (unaudited)
BlackRock Global Floating Rate Income Trust (BGT)
| Principal | ||||
|---|---|---|---|---|
| Amount | ||||
| Rating 1 | (000) | Description | Value | |
| LONG-TERM INVESTMENTS160.3% | ||||
| Corporate Bonds20.3% | ||||
| Aerospace & Defense0.2% | ||||
| B- | $ 735 | DI Finance/DynCorp. Intl., 9.50%, | ||
| 2/15/13 | $ 764,400 | |||
| Automotive0.3% | ||||
| BB | 210 | ArvinMeritor, Inc., 8.75%, 3/01/12 | 208,950 | |
| CCC- | 525 | 2 | Delco Remy Intl., Inc., 9.068%, 4/15/09 | 497,438 |
| CCC | 40 | Dura Operating Corp., 8.625%, 4/15/12 | 32,200 | |
| B- | 15 | Goodyear Tire & Rubber Co., 7.857%, | ||
| 8/15/11 | 14,700 | |||
| Lear Corp., | ||||
| B- | 330 | Ser. B, 5.75%, 8/01/14 | 266,475 | |
| B- | 220 | Ser. B, 8.11%, 5/15/09 | 204,600 | |
| CCC+ | 220 | Metaldyne Corp., 10.00%, 11/01/13 | 205,700 | |
| B | 40 | Tenneco, Inc., 8.625%, 11/15/14 | 40,000 | |
| 1,470,063 | ||||
| Basic Materials1.5% | ||||
| B+ | 40 | Abitibi-Consolidated Co., 8.375%, | ||
| 4/01/15 (Canada) | 39,200 | |||
| B+ | 1,000 | 2 | Abitibi-Consolidated, Inc., 8.41%, | |
| 6/15/11 (Canada) | 1,000,000 | |||
| B+ | 260 | 2 | Boise Cascade LLC, 7.943%, 10/15/12 | 263,250 |
| B+ | 1,040 | 2 | Bowater, Inc., 7.91%, 3/15/10 | 1,045,200 |
| B+ | 70 | Donohue Forest Products, 7.625%, | ||
| 5/15/07 (Canada) | 70,963 | |||
| B+ | 750 | Hercules, Inc., 6.75%, 10/15/29 | 735,000 | |
| Ineos Group Holdings PLC (United | ||||
| Kingdom) | ||||
| B2 | 225 | 7.875%, 2/07/16 | 263,123 | |
| B2 | 200 | 3 | 8.50%, 2/15/16 | 190,000 |
| BBB- | 95 | Intl. Steel Group, Inc., 6.50%, 4/15/14 | 94,287 | |
| Lyondell Chemical Co., | ||||
| BB- | 300 | 11.125%, 7/15/12 | 330,000 | |
| BB- | 300 | Ser. A, 9.625%, 5/01/07 | 309,750 | |
| B- | 565 | Nalco Co., 8.875%, 11/15/13 | 589,012 | |
| NewPage Corp., | ||||
| B3 | 80 | 10.00%, 5/01/12 | 84,400 | |
| B3 | 1,500 | 2 | 10.93%, 5/01/12 | 1,582,500 |
| B- | 50 | 3 | PQ Corp., 7.50%, 2/15/13 | 48,250 |
| 6,644,935 | ||||
| Building & Development0.3% | ||||
| B+ | 1,000 | 2 | Ainsworth Lumber Co. Ltd., 8.71%, | |
| 10/01/10 (Canada) | 995,000 | |||
| B2 | 90 | 3 | Compression Polymers Corp., 10.50%, | |
| 7/01/13 | 91,800 | |||
| B- | 195 | Goodman Global Holding Co., Inc., | ||
| 7.875%, 12/15/12 | 192,563 | |||
| B | 60 | North American Energy Partners, Inc., | ||
| 9.00%, 6/01/10 (Canada) | 63,600 | |||
| 1,342,963 | ||||
| Consumer Products0.7% | ||||
| B3 | 45 | ALH Finance LLC, 8.50%, 1/15/13 | 44,213 | |
| B- | 400 | Cenveo Corp., 7.875%, 12/01/13 | 389,000 | |
| CCC | 1,050 | 2 | Duane Reade, Inc., 9.41%, 12/15/10 | 1,039,500 |
| B- | 75 | Finlay Fine Jewelry Corp., 8.375%, | ||
| 6/01/12 | 65,812 | |||
| B | 40 | Gold Kist, Inc., 10.25%, 3/15/14 | 43,200 | |
| B- | 555 | 3 | Knowledge Learning Corp., Inc., 7.75%, | |
| 2/01/15 | 527,250 | |||
| B- | 400 | Lazydays RV Center, Inc., 11.75%, | ||
| 5/15/12 | 395,000 | |||
| B- | 180 | 2 | Levi Strauss & Co., 9.74%, 4/01/12 | 186,300 |
| CCC- | 135 | Movie Gallery, Inc., 11.00%, 5/01/12 | 66,825 | |
| B- | 385 | 3 | Rite Aid Corp., 6.125%, 12/15/08 | 371,525 |
| 3,128,625 |
1
BlackRock Global Floating Rate Income Trust (BGT) (continued)
| Principal | ||||
|---|---|---|---|---|
| Amount | ||||
| Rating 1 | (000) | Description | Value | |
| Containers & Packaging0.0% | ||||
| B2 | $ 150 | Smurfit-Stone Container Enterprises, | ||
| Inc., 9.75%, 2/01/11 | $ 154,500 | |||
| Ecological Services & Equipment0.1% | ||||
| BB- | 625 | Allied Waste NA, Inc., 5.75%, 2/15/11 | 592,188 | |
| Energy8.0% | ||||
| BB- | 750 | 3 | AES Corp., 9.00%, 5/15/15 | 811,875 |
| B1 | 130 | ANR Pipeline Co., 9.625%, 11/01/21 | 159,575 | |
| B | 80 | 3 | Chaparral Energy, Inc., 8.50%, 12/01/15 | 83,000 |
| BB | 70 | Compagnie Generale de Geophysique | ||
| SA, 7.50%, 5/15/15 (France) | 72,100 | |||
| B | 375 | El Paso Production Holding Co., 7.75%, | ||
| 6/01/13 | 390,000 | |||
| B1 | 750 | Foundation Pennsylvania Coal Co., | ||
| 7.25%, 8/01/14 | 757,500 | |||
| BB+ | 14,430 | Gazprom OAO, 9.625%, 3/01/13 (Russia) | 17,064,918 | |
| B- | 730 | KCS Energy, Inc., 7.125%, 4/01/12 | 726,350 | |
| B1 | 95 | NRG Energy, Inc., 7.375%, 2/01/16 | 97,256 | |
| Pemex Project Funding Master Trust, | ||||
| BBB | 800 | 9.375%, 12/02/08 | 870,000 | |
| Baa1 | 12,700 | 2 | Ser. 15, 6.868%, 10/15/09 | 13,290,550 |
| Reliant Energy, Inc., | ||||
| B | 180 | 6.75%, 12/15/14 | 160,200 | |
| B | 750 | 9.25%, 7/15/10 | 751,875 | |
| B2 | 300 | Whiting Petroleum Corp., 7.25%, 5/01/13 | 299,250 | |
| B+ | 590 | Williams Cos., Inc., 8.75%, 3/15/32 | 688,825 | |
| 36,223,274 | ||||
| Entertainment & Leisure0.1% | ||||
| B3 | 155 | 3 | Greektown Holdings LLC, 10.75%, 12/01/13 | 158,487 |
| BB | 275 | MGM Mirage, 5.875%, 2/27/14 | 258,500 | |
| B | 25 | Poster Financial Group, Inc., 8.75%, | ||
| 12/01/11 | 26,313 | |||
| B+ | 40 | 3 | San Pasqual Casino, 8.00%, 9/15/13 | 40,400 |
| B+ | 20 | Wynn Las Vegas LLC/Wynn Las Vegas | ||
| Capital Corp., 6.625%, 12/01/14 | 19,550 | |||
| 503,250 | ||||
| Financial Institutions3.6% | ||||
| B+ | 93 | AES Ironwood LLC, 8.857%, 11/30/25 | 104,280 | |
| Ba3 | 2,000 | Alrosa Finance Ltd., 8.125%, 5/06/08 | ||
| (Luxembourg) | 2,092,500 | |||
| BB | 140 | American Real Estate Partners LP/American | ||
| Real Estate Finance Corp., 7.125%, 2/15/13 | 137,900 | |||
| BB | 750 | Crum & Forster Holdings Corp., | ||
| 10.375%, 6/15/13 | 768,750 | |||
| BB- | 60 | Ford Motor Credit Co., 7.25%, 10/25/11 | 53,939 | |
| BB | 3,000 | 2 | General Motors Acceptance Corp., | |
| 5.968%, 1/16/07 | 2,959,675 | |||
| BB+ | 5,455 | Kazkommerts Intl. BV, 8.50%, 4/16/13 | ||
| (Netherlands) | 5,805,211 | |||
| BB+ | 3,000 | 3 | Kazkommertsbank Intl. BV, 8.50%, | |
| 4/16/13 (Netherlands) | 3,150,000 | |||
| BBB | 25 | 2 | Marsh & McLennan Cos., Inc., | |
| 5.19%, 7/13/07 | 24,917 | |||
| B+ | 750 | 3 | Rainbow National Services LLC, 8.75%, | |
| 9/01/12 | 798,750 | |||
| B- | 300 | 2 | Universal City Florida Holding Co. | |
| I/II, 9.43%, 5/01/10 | 306,000 | |||
| 16,201,922 | ||||
| Health Care0.3% | ||||
| B | 280 | 3 | Angiotech Pharmaceuticals, Inc., | |
| 7.75%, 4/01/14 (Canada) | 281,400 | |||
| NR | 10 | 4 | Curative Health Services, Inc., 10.75%, | |
| 5/01/11 | 5,800 | |||
| B- | 75 | Select Medical Corp., 7.625%, 2/01/15 | 67,688 | |
| B | 70 | Tenet Healthcare Corp., 6.875%, 11/15/31 | 55,825 | |
| B- | 830 | Universal Hospital Services, Inc., | ||
| 10.125%, 11/01/11 | 859,050 | |||
| 1,269,763 | ||||
| Industrials0.4% | ||||
| B- | 180 | NationsRent Cos., Inc., 9.50%, 5/01/15 | 195,075 | |
| CCC+ | 325 | Park-Ohio Industries, Inc., 8.375%, | ||
| 11/15/14 | 307,938 | |||
| B3 | 210 | 3 | Sunstate Equipment Co. LLC, 10.50%, | |
| 4/01/13 | 222,600 | |||
| CCC+ | 445 | Trimas Corp., 9.875%, 6/15/12 | 392,712 | |
| B | 750 | United Rentals NA, Inc., 7.00%, 2/15/14 | 720,000 | |
| 1,838,325 |
2
BlackRock Global Floating Rate Income Trust (BGT) (continued)
| Principal | ||||
|---|---|---|---|---|
| Amount | ||||
| Rating 1 | (000) | Description | Value | |
| Media0.6% | ||||
| B+ | $ 100 | 2,5 | Cablevision Systems Corp., 9.62%, | |
| 4/01/09 | $ 105,250 | |||
| Charter Communications Holdings II, | ||||
| LLC/Charter Communications Holdings II Capital Corp., | ||||
| CCC- | 45 | 3 | 10.25%, 9/15/10 | 44,100 |
| CCC- | 780 | 10.25%, 9/15/10 | 768,300 | |
| B+ | 120 | CSC Holdings, Inc., 7.875%, 12/15/07 | 122,700 | |
| Echostar DBS Corp., | ||||
| BB- | 750 | 6.375%, 10/01/11 | 734,062 | |
| BB- | 300 | 3 | 7.125%, 2/01/16 | 294,750 |
| B2 | 80 | 3 | Network Communications, Inc., 10.75%, | |
| 12/01/13 | 81,400 | |||
| B3 | 70 | Nexstar Finance, Inc., 7.00%, 1/15/14 | 66,150 | |
| B2 | 350 | 2,3 | Paxson Communications Corp., 8.318%, | |
| 1/15/12 | 352,625 | |||
| B | 250 | 3 | R.H. Donnelley Corp., 8.875%, 1/15/16 | 260,000 |
| CCC+ | 100 | 3 | Unity Media GmbH, 10.375%, 2/15/15 | |
| (Germany) | 104,000 | |||
| 2,933,337 | ||||
| Real Estate1.3% | ||||
| BB+ | 6,350 | Rouse Co., 5.375%, 11/26/13 | 5,943,610 | |
| Technology0.8% | ||||
| BBB- | 1,500 | 2 | Freescale Semiconductor, Inc., 7.818%, | |
| 7/15/09 | 1,533,750 | |||
| B+ | 1,875 | 2 | MagnaChip Semiconductor SA/MagnaChip | |
| Semiconductor Finance Co., 8.16%, 12/15/11 (Luxembourg) | 1,898,437 | |||
| B- | 250 | 2,3 | Sungard Data Systems, Inc., 9.431%, | |
| 8/15/13 | 262,500 | |||
| B | 140 | Superior Essex Communications LLC/Essex | ||
| Group, Inc., 9.00%, 4/15/12 | 141,050 | |||
| 3,835,737 | ||||
| Telecommunications1.8% | ||||
| B1 | 810 | Cincinnati Bell, Inc., 7.25%, 7/15/13 | 836,325 | |
| Dobson Cellular Systems, Inc., | ||||
| B1 | 350 | 8.375%, 11/01/11 | 370,125 | |
| B1 | 325 | 2 | 9.43%, 11/01/11 | 336,375 |
| B3 | 115 | 2,3 | Hawaiian Telcom Communications, Inc., | |
| 9.948%, 5/01/13 | 113,275 | |||
| B | 75 | Intelsat Ltd., 5.25%, 11/01/08 (Bermuda) | 70,688 | |
| Intelsat Subsidiary Holding Co. Ltd. | ||||
| (Bermuda) | ||||
| B+ | 50 | 8.25%, 1/15/13 | 50,875 | |
| B+ | 200 | 8.625%, 1/15/15 | 207,000 | |
| B+ | 485 | 2 | 9.614%, 1/15/12 | 495,912 |
| B | 2,350 | 2 | Qwest Communications Intl., Inc., | |
| 8.249%, 2/15/09 | 2,397,000 | |||
| BB+ | 2,500 | 2 | Qwest Corp., 8.16%, 6/15/13 | 2,737,500 |
| BB | 400 | 2 | Rogers Wireless Communications, Inc., | |
| 8.035%, 12/15/10 (Canada) | 411,000 | |||
| B- | 150 | 3 | Wind Acquisition Finance SA, 10.75%, | |
| 12/01/15 (Luxembourg) | 161,437 | |||
| 8,187,512 | ||||
| Transportation0.3% | ||||
| B1 | 30 | 3 | Hertz Corp., 8.875%, 1/01/14 | 31,200 |
| B3 | 315 | Horizon Lines LLC, 9.00%, 11/01/12 | 333,113 | |
| B+ | 750 | OMI Corp., 7.625%, 12/01/13 (Marshall | ||
| Island) | 765,000 | |||
| 1,129,313 | ||||
| Total Corporate Bonds | 92,163,717 | |||
| Bank Loans109.5% | ||||
| Aerospace & Defense1.8% | ||||
| 2,955 | Caci Intl., Inc., LIBOR + 1.50%, | |||
| 5/03/11 | 2,980,743 | |||
| 968 | Camp Acquisition Co., Loan A, LIBOR | |||
| + 3.25%, 8/30/11 | 970,161 | |||
| 993 | Dyncorp International LLC, Loan B, | |||
| LIBOR + 2.75%, 2/11/11 | 1,004,492 | |||
| 2,000 | MRO Acquisition LLC, LIBOR + 5.25%, | |||
| 8/15/11 | 2,030,000 | |||
| 826 | Standard Aero Holdings, Inc., LIBOR | |||
| + 2.25%, 8/20/12 | 824,662 | |||
| 493 | US Investigations Services LLC, Loan | |||
| B, LIBOR + 2.50%, 10/14/12 | 498,849 | |||
| 8,308,907 |
3
BlackRock Global Floating Rate Income Trust (BGT) (continued)
| Principal | |||
|---|---|---|---|
| Amount | |||
| Rating 1 | (000) | Description | Value |
| Automotive2.9% | |||
| Goodyear Tire & Rubber Co., | |||
| $ 500 | LIBOR + 2.75%, 4/30/10 | $ 506,771 | |
| 1,000 | LIBOR + 3.50%, 4/01/11 | 1,013,542 | |
| 750 | IAP Worldwide Services, Inc., LIBOR | ||
| + 3.00%, 12/30/12 | 757,500 | ||
| 500 | Keystone Automotive, Inc., Loan C, | ||
| LIBOR + 2.50%, 10/30/10 | 501,250 | ||
| 926 | Metaldyne Co. LLC, Loan D, LIBOR | ||
| + 4.50%, 12/31/09 | 942,485 | ||
| 1,750 | Polar Corp., LIBOR, 6/15/10 | 1,767,500 | |
| 501 | Precision Parts Intl., Loan B, LIBOR | ||
| + 3.75%, 10/01/11 | 501,250 | ||
| 1,249 | Progressive Moulded Products Ltd., | ||
| Loan B, LIBOR + 4.50%, 8/16/11 | 1,031,458 | ||
| 2,993 | TI Group Automotive Systems, Loan | ||
| C, LIBOR + 3.25%, 6/30/11 | 2,925,854 | ||
| TRW Automotive Acquisitions Corp., | |||
| 486 | Loan B, LIBOR + 1.50%, 6/30/12 | 487,349 | |
| 2,481 | Loan E, LIBOR + 1.50%, 10/31/10 | 2,493,036 | |
| 12,927,995 | |||
| Basic Materials13.0% | |||
| 2,709 | Appleton Papers, Inc., LIBOR + 2.25%, | ||
| 6/11/10 | 2,734,328 | ||
| Basell NV, | |||
| 500 | Loan B2, LIBOR + 2.50%, 9/07/13 | 508,125 | |
| 500 | Loan C2, LIBOR + 3.00%, 9/07/14 | 508,125 | |
| 995 | Berry Plastics Corp., LIBOR + 2.00%, | ||
| 12/02/11 | 1,008,474 | ||
| 1,829 | Boise Cascade Corp., Loan D, LIBOR | ||
| + 1.75%, 10/29/11 | 1,851,829 | ||
| Brenntag Group, | |||
| 2,000 | LIBOR + 2.50%, 1/17/14 | 2,028,500 | |
| 1,000 | LIBOR + 6.50%, 7/17/15 | 1,007,500 | |
| 791 | Buckeye Technologies, Inc., LIBOR | ||
| + 2.00%, 3/15/08 | 791,709 | ||
| 3,588 | Celanese AG, LIBOR + 2.00%, 4/06/11 | 3,639,032 | |
| 2,000 | Cognis Deutschland, LIBOR + 4.75%, | ||
| 11/15/13 | 2,040,834 | ||
| 971 | Compass Minerals Group, Inc., LIBOR | ||
| + 1.50%, 12/22/12 | 977,197 | ||
| 1,426 | Foundation Coal Corp., Loan B, LIBOR | ||
| + 1.75%, 7/30/11 | 1,446,024 | ||
| 988 | Hercules, Inc., Loan B, LIBOR + 1.50%, | ||
| 10/08/10 | 994,226 | ||
| 7,195 | Huntsman Intl. LLC, Loan B, LIBOR | ||
| + 1.75%, 8/16/12 | 7,238,093 | ||
| Ineos Group Ltd., | |||
| 2,250 | Loan A4, LIBOR + 2.25%, 12/16/12 | 2,272,500 | |
| 1,750 | Loan B2, LIBOR + 2.25%, 12/16/13 | 1,763,155 | |
| 1,750 | Loan C2, LIBOR + 2.75%, 12/16/13 | 1,775,156 | |
| 3,780 | Innophos, Inc., 0.50%, 8/13/10 | 3,828,826 | |
| Invista B.V., | |||
| 2,477 | Loan B1, LIBOR + 1.75%, 4/29/11 | 2,504,474 | |
| 1,259 | Loan B2, LIBOR + 1.75%, 4/29/11 | 1,265,236 | |
| 2,000 | ISP Chemco, Inc., LIBOR + 1.75%, | ||
| 2/16/13 | 2,021,072 | ||
| 750 | John Maneely Co., TBD | 762,188 | |
| 220 | Kraton Polymers LLC, LIBOR + 2.50%, | ||
| 12/23/10 | 222,887 | ||
| 5,831 | Nalco Co., Loan B, PRIME + 0.75%, | ||
| 11/04/10 | 5,889,025 | ||
| 496 | PQ Corp., LIBOR + 2.00%, 2/11/12 | 503,073 | |
| 499 | Pregis Corp., Loan B2, LIBOR + 2.50%, | ||
| 10/12/12 | 607,432 | ||
| 938 | Professional Paint, Inc., LIBOR + | ||
| 2.75%, 9/30/11 | 944,531 | ||
| 4,333 | Rockwood Specialties Group, Inc., | ||
| Loan E, LIBOR + 2.00%, 12/13/13 | 4,387,955 | ||
| 3,000 | UPC Distribution Corp., Loan H1, | ||
| LIBOR + 2.75%, 9/30/12 | 3,637,366 | ||
| 59,158,872 | |||
| Building & Development2.7% | |||
| 242 | Atrium Cos., Inc., LIBOR + 3.25%, | ||
| 12/28/11 | 243,160 | ||
| 500 | Contech Construction Products, Inc., | ||
| LIBOR + 2.00%, 1/31/13 | 506,875 | ||
| 1,500 | Custom Building Products, Inc., LIBOR | ||
| + 5.00%, 4/29/12 | 1,505,625 | ||
| 500 | Euramax Intl., Inc., LIBOR + 7.00%, | ||
| 6/29/13 | 493,750 | ||
| 1,250 | Harmon Koval, 3.25%, 11/18/07 | 1,253,125 |
4
BlackRock Global Floating Rate Income Trust (BGT) (continued)
| Principal | |||
|---|---|---|---|
| Amount | |||
| Rating 1 | (000) | Description | Value |
| Building & Development(contd) | |||
| $ 2,000 | Landsource Communities Development | ||
| LLC, Loan B, LIBOR + 2.50%, 3/31/10 | $ 2,007,500 | ||
| 985 | Nortek, Inc., Loan B, LIBOR + 2.00%, | ||
| 8/27/11 | 993,619 | ||
| Ply Gem Industries, Inc., | |||
| 1,641 | TBD, 3/15/10 | 1,654,980 | |
| 109 | LIBOR, 8/15/11 | 110,332 | |
| 975 | Rhodes Ranch, LIBOR + 3.25%, 11/21/10 | 979,875 | |
| 2,500 | United Subcontractors, Inc., LIBOR | ||
| + 3.00%, 12/27/12 | 2,500,000 | ||
| 12,248,841 | |||
| Business Equipment & Services0.2% | |||
| 990 | Latham Intl., LIBOR + 3.75%, 12/31/10 | 1,001,144 | |
| Conglomerates6.7% | |||
| Atlantis Plastics, Inc., | |||
| 993 | LIBOR + 2.75%, 9/30/11 | 1,004,906 | |
| 750 | LIBOR + 7.25%, 9/30/11 | 755,625 | |
| 1,500 | Blount Intl., TBD | 1,511,250 | |
| 5,000 | Colfax Intl., LIBOR + 2.25%, 11/30/11 | 6,081,969 | |
| 2,757 | Fidelity National Information Solutions, | ||
| Inc., Loan B, LIBOR + 1.75%, 3/09/13 | 2,777,846 | ||
| 500 | Gentek, Inc., LIBOR + 5.75%, 3/15/12 | 501,875 | |
| 3,448 | Honeywell Security, Loan B, LIBOR | ||
| + 3.25%, 6/28/10 | 3,469,085 | ||
| Invensys Intl. Holdings Ltd., | |||
| 1,727 | 0.50%, 3/05/09 | 1,675,369 | |
| 2,000 | LIBOR + 4.75%, 11/30/09 | 2,042,500 | |
| 558 | Loan B1, LIBOR + 3.50%, 9/05/09 | 562,808 | |
| Jarden Corp., | |||
| 1,540 | PRIME + 1.00%, 1/24/12 | 1,555,602 | |
| 500 | Loan B2, PRIME + 0.75%, 1/24/12 | 503,000 | |
| 483 | Loan B3, PRIME, 1/24/12 | 486,219 | |
| 462 | Lionbridge Technologies, Inc., LIBOR | ||
| + 3.50%, 9/01/11 | 464,813 | ||
| 998 | Mueller Group, Inc., Loan B, LIBOR | ||
| + 2.25%, 10/03/12 | 1,009,969 | ||
| 384 | Penn Engineering & Manufacturing, | ||
| LIBOR + 2.50%, 5/25/11 | 387,881 | ||
| 2,439 | Polypore, Inc., LIBOR + 3.00%, 11/12/11 | 2,458,262 | |
| 670 | Rexnord Corp., PRIME + 1.00%, 12/31/11 | 675,922 | |
| 2,488 | Sungard Data Systems, Inc., Loan | ||
| B, LIBOR + 2.50%, 2/11/13 | 2,519,927 | ||
| 30,444,828 | |||
| Consumer Products15.2% | |||
| 1,000 | 24 Hour Fitness Worldwide, Inc., | ||
| Loan B, LIBOR + 3.00%, 6/08/12 | 1,012,500 | ||
| 466 | Adams Outdoor Advertising LP, LIBOR | ||
| + 2.00%, 10/18/12 | 472,345 | ||
| 2,000 | Aearo Technologies, TBD | 2,036,875 | |
| 1,985 | Alliance One International, Inc., | ||
| Loan B, LIBOR + 3.50%, 5/13/10 | 2,004,850 | ||
| 497 | Arbys Restaurant Group, Inc., | ||
| Loan B, LIBOR + 2.25%, 7/25/12 | 503,097 | ||
| Berkline Bench Craft, | |||
| 2,000 | LIBOR + 10.00%, 4/30/12 | 1,500,000 | |
| 1,604 | Loan B, LIBOR + 3.75%, 11/03/11 | 1,547,760 | |
| 2,750 | Burger King Corp., Loan B, TBD, 6/30/12 | 2,765,468 | |
| 940 | Carrols Corp., LIBOR + 2.50%, 12/31/10 | 953,219 | |
| 497 | Centerplate, Inc., LIBOR + 3.25%, | ||
| 10/01/10 | 500,603 | ||
| 1,000 | Central Garden & Pet Co., Loan | ||
| B, LIBOR + 1.50%, 9/30/12 | 1,006,667 | ||
| 496 | Chiquita Brands Intl., Inc., Loan | ||
| B, TBD, 6/28/12 | 500,799 | ||
| 1,113 | CKE Restaurants, Inc., LIBOR + 2.00%, | ||
| 5/01/10 | 1,123,947 | ||
| Coinmach Corp., | |||
| 404 | Loan B1, 1.25%, 12/19/12 | 409,393 | |
| 596 | Loan B1, PRIME + 1.50%, 12/19/12 | 605,190 | |
| 1,731 | Commonwealth Brands, Inc., PRIME | ||
| + 1.25%, 12/22/12 | 1,753,112 | ||
| 1,122 | Constellation Brands, Inc., Loan | ||
| B, LIBOR + 1.50%, 11/30/11 | 1,135,707 | ||
| 743 | Culligan Intl. Co., Loan B, LIBOR | ||
| + 2.50%, 9/30/11 | 752,709 | ||
| 3,500 | Dennys Corp., LIBOR + 5.13%, | ||
| 9/30/10 | 3,607,916 | ||
| 1,469 | Desa Intl., Inc., LIBOR + 5.00%, | ||
| 12/30/11 | 1,444,932 | ||
| Eastman Kodak Co., | |||
| 368 | Loan B1, LIBOR + 2.25%, 10/18/12 | 367,581 | |
| 880 | Loan B2, 1.50%, 10/18/12 | 889,880 |
5
BlackRock Global Floating Rate Income Trust (BGT) (continued)
| Principal | |||
|---|---|---|---|
| Amount | |||
| Rating 1 | (000) | Description | Value |
| Consumer Products(contd) | |||
| $ 1,500 | Eight OClock Coffee, Loan B, | ||
| LIBOR + 3.00%, 11/14/11 | $ 1,515,000 | ||
| 489 | Fender Musical Instruments Corp., | ||
| LIBOR + 4.50%, 9/30/12 | 496,208 | ||
| 224 | Herbalife Intl., Inc., LIBOR + 1.75%, | ||
| 12/20/10 | 226,210 | ||
| Hertz Corp., | |||
| 174 | 1.13%, 12/21/12 | 175,524 | |
| 745 | LIBOR + 2.25%, 12/21/12 | 752,562 | |
| 278 | LIBOR + 2.50%, 12/21/12 | 281,357 | |
| 684 | PRIME + 1.25%, 12/21/12 | 692,813 | |
| 748 | Knoll, Inc., LIBOR + 1.75%, 10/03/12 | 757,711 | |
| 990 | Landrys Restaurants, Inc., | ||
| Loan B, LIBOR + 1.75%, 12/28/10 | 999,900 | ||
| 741 | Language Line, Inc., Loan B, LIBOR | ||
| + 4.25%, 6/10/11 | 744,190 | ||
| 575 | Le-Natures, Inc., Loan B, LIBOR + | ||
| 3.00%, 6/23/10 | 575,001 | ||
| 1,917 | Maidenform, Inc., LIBOR + 1.75%, | ||
| 5/11/10 | 1,921,458 | ||
| 996 | Mapco Express, Inc., PRIME + 1.75%, | ||
| 4/28/11 | 1,009,926 | ||
| 500 | MD Beauty, Inc., LIBOR + 7.00%, 2/18/13 | 506,250 | |
| 1,554 | Movie Gallery, Inc., Loan B, LIBOR | ||
| + 3.75%, 4/27/11 | 1,401,722 | ||
| 1,661 | Neiman-Marcus Group, Inc., LIBOR | ||
| + 2.50%, 4/06/13 | 1,684,089 | ||
| 1,990 | New Page, Loan B, LIBOR + 3.00%, | ||
| 5/02/11 | 2,019,850 | ||
| 3,500 | Olympus Cable Holdings LLC, Loan | ||
| B, PRIME + 2.00%, 9/30/10 | 3,427,501 | ||
| 591 | Oreck Corp., Loan B, LIBOR + 2.75%, | ||
| 1/27/12 | 598,395 | ||
| Oriental Trading Co., Inc., | |||
| 1,500 | LIBOR + 4.75%, 1/08/11 | 1,515,000 | |
| 1,345 | Loan B, LIBOR + 2.25%, 8/04/10 | 1,355,267 | |
| 3,447 | OSI Group LLC, LIBOR + 2.00%, 9/02/11 | 3,485,097 | |
| 500 | Pantry, Inc., LIBOR + 1.75%, 1/02/12 | 505,625 | |
| 903 | PBM Products LLC, Loan B, LIBOR + | ||
| 3.00%, 7/26/11 | 911,036 | ||
| 2,312 | Pierre Foods, Inc., Loan B, LIBOR | ||
| + 1.75%, 6/30/10 | 2,335,625 | ||
| 750 | Pivotal Promontory LLC, LIBOR + 6.50%, | ||
| 8/31/11 | 749,375 | ||
| 1,965 | Prestige Brands Holdings, Inc., Loan | ||
| B, LIBOR + 2.25%, 4/06/11 | 1,987,106 | ||
| 1,000 | Propex Fabrics, Inc., Loan B, LIBOR | ||
| + 2.25%, 7/31/12 | 1,008,750 | ||
| R.H. Donnelley Corp., | |||
| 345 | Loan A3, LIBOR + 1.75%, 12/31/09 | 347,618 | |
| 2,163 | Loan D, LIBOR + 1.75%, 6/30/11 | 2,178,909 | |
| 1,500 | Roundys Supermarkets, Inc., | ||
| LIBOR + 3.00%, 11/03/11 | 1,518,750 | ||
| 923 | Spectrum Brands, Inc., Loan B, LIBOR | ||
| + 2.50%, 2/06/12 | 933,788 | ||
| Synventive Acquisition, Inc., | |||
| 804 | LIBOR + 14.0%, 7/29/14 | 779,923 | |
| 748 | Loan B, LIBOR + 3.25%, 7/29/12 | 746,255 | |
| 500 | Travelcenters of America, Inc., Loan | ||
| B, LIBOR + 1.75%, 12/01/11 | 504,625 | ||
| 948 | Tupperware Corp., LIBOR + 1.50%, | ||
| 12/05/12 | 948,980 | ||
| 525 | Warnaco, Inc., Loan B, LIBOR + 1.50%, | ||
| 1/31/13 | 525,656 | ||
| 69,017,602 | |||
| Containers & Packaging4.4% | |||
| Covalence Specialty Materials Corp., | |||
| 200 | LIBOR + 3.25%, 8/16/13 | 204,813 | |
| 500 | Loan B, LIBOR + 1.75%, 2/16/13 | 506,250 | |
| 349 | Flexsol Packaging Corp., LIBOR + | ||
| 3.25%, 11/30/11 | 349,606 | ||
| 1,500 | Georgia-Pacific Corp., LIBOR + 3.00%, | ||
| 12/20/13 | 1,531,875 | ||
| Graham Packaging Co. LP, | |||
| 5,687 | Loan B, LIBOR + 2.25%, 10/07/11 | 5,757,975 | |
| 2,000 | Loan C, LIBOR + 4.25%, 4/07/12 | 2,042,500 | |
| 3,425 | Graphic Packaging Intl., Inc., Loan | ||
| C, LIBOR + 2.50%, 8/08/10 | 3,476,054 | ||
| 499 | Ranpak Corp., Loan B, LIBOR + 2.50%, | ||
| 12/14/11 | 502,491 | ||
| Smurfit-Stone Container Enterprises, | |||
| Inc., | |||
| 898 | Loan B, LIBOR + 2.25%, 11/01/11 | 909,485 | |
| 750 | Loan B1, LIBOR + 2.50%, 2/15/14 | 918,544 | |
| 750 | Loan C1, LIBOR + 3.00%, 2/15/15 | 922,958 | |
| 2,947 | Solo Cup, Inc., LIBOR + 2.50%, 2/27/11 | 2,975,613 | |
| 20,098,164 |
6
BlackRock Global Floating Rate Income Trust (BGT) (continued)
| Principal | |||
|---|---|---|---|
| Amount | |||
| Rating 1 | (000) | Description | Value |
| Ecological Services & Equipment0.9% | |||
| $ 1,913 | Allied Waste NA, Inc., LIBOR + 2.00%, | ||
| 1/15/12 | $ 1,920,941 | ||
| 2,000 | Envirosolutions, Inc., 2.00%, 3/01/09 | 2,025,000 | |
| 3,945,941 | |||
| Energy7.0% | |||
| 1,500 | AES Corp., LIBOR + 1.75%, 4/30/08 | 1,516,500 | |
| 1,500 | Astoria Generating Co. Acquisitions | ||
| LLC, Loan B, LIBOR, 2/23/13 | 1,516,719 | ||
| Boart Longyear Co., | |||
| 1,497 | LIBOR + 3.00%, 7/28/12 | 1,518,694 | |
| 500 | LIBOR + 7.00%, 1/28/13 | 507,500 | |
| 996 | Cellnet Technology, Inc., Loan B, | ||
| LIBOR + 3.00%, 4/26/12 | 1,008,681 | ||
| 1,496 | Coffeyville Resources LLC, LIBOR | ||
| + 2.50%, 6/24/12 | 1,513,733 | ||
| 430 | Cogentrix Delaware Holdings, Inc., | ||
| LIBOR + 1.75%, 4/14/12 | 434,419 | ||
| 500 | Coleto Creek Power, Loan C1, LIBOR | ||
| + 2.00%, 6/30/12 | 503,125 | ||
| 250 | Complete Production Services, Inc., | ||
| Loan B, PRIME + 1.50%, 9/12/12 | 252,492 | ||
| 1,975 | El Paso Corp., 0.50%, 11/30/07 | 1,999,138 | |
| 1,500 | Key Energy Services, Inc., Loan B, | ||
| LIBOR + 3.25%, 6/30/12 | 1,520,000 | ||
| 478 | Mainline LP, LIBOR + 2.38%, 12/17/11 | 480,167 | |
| 443 | MGG Holdings, LIBOR + 2.00%, 6/30/12 | 447,058 | |
| 1,000 | Mirant NA LLC, Loan B, LIBOR + 1.75%, | ||
| 1/03/13 | 1,008,036 | ||
| 8,000 | NRG Energy, LIBOR + 2.00%, 2/01/13 | 8,094,963 | |
| 1,250 | Petro Geological Services, Loan B, | ||
| LIBOR + 2.50%, 12/16/12 | 1,264,062 | ||
| 389 | Petrohawk, PRIME + 3.50%, 7/31/10 | 393,750 | |
| 1,000 | Plum Point Energy Associates, TBD | 1,008,750 | |
| Reliant Energy, Inc., | |||
| 1,997 | LIBOR + 2.38%, 4/30/10 | 1,991,659 | |
| 998 | LIBOR + 2.38%, 9/30/10 | 999,786 | |
| Semcrude LP, | |||
| 690 | LIBOR + 2.50%, 3/16/11 (CND) | 689,570 | |
| 1,442 | LIBOR + 2.50%, 3/16/11 (USD) | 1,442,141 | |
| Wolf Hollow I LP, | |||
| 100 | 0.50%, 6/22/12 | 100,938 | |
| 500 | LIBOR, 12/15/12 | 508,750 | |
| 400 | LIBOR + 2.25%, 6/22/12 | 403,938 | |
| 500 | Loan B, LIBOR + 2.25%, 6/22/12 | 504,687 | |
| 31,629,256 | |||
| Entertainment & Leisure7.8% | |||
| 995 | Blockbuster Entertainment Corp., | ||
| Loan B, LIBOR + 4.00%, 8/20/11 | 975,203 | ||
| 1,970 | Boyd Gaming Corp., Loan B, LIBOR | ||
| + 1.50%, 6/30/11 | 1,990,110 | ||
| 3,237 | CCM Merger, Inc., Loan B, LIBOR + | ||
| 2.00%, 7/13/12 | 3,260,315 | ||
| 1,000 | Century Theatres, LIBOR + 1.88%, | ||
| 3/01/13 | 1,011,250 | ||
| 2,000 | Greektown Casino LLC, Loan B, LIBOR | ||
| + 2.50%, 12/03/12 | 2,027,500 | ||
| 2,500 | Hallmark Entertainment LLC, Loan | ||
| B, LIBOR + 2.50%, 12/31/11 | 2,531,250 | ||
| 1,493 | Hit Entertainment Ltd., LIBOR + 2.25%, | ||
| 3/20/12 | 1,501,455 | ||
| Hollywood Theaters, Inc., | |||
| 1,723 | LIBOR + 3.25%, 7/31/09 | 1,736,678 | |
| 2,500 | LIBOR + 7.00%, 1/31/10 | 2,518,750 | |
| 1,485 | Kerasotes Theatres, Inc., Loan B, | ||
| LIBOR + 2.50%, 10/31/11 | 1,491,188 | ||
| 5,000 | Metro-Goldwyn-Mayer Studios, Inc., | ||
| Loan B, LIBOR + 2.25%, 4/08/12 | 5,059,375 | ||
| 998 | Penn National Gaming, Inc., Loan | ||
| B, LIBOR + 1.75%, 10/03/12 | 1,009,969 | ||
| 750 | Riverside Casino & Golf Resort | ||
| LLC, Loan B, LIBOR + 4.00%, 11/30/11 | 750,000 | ||
| 991 | Universal City Development Partners | ||
| LP, Loan B, LIBOR + 2.00%, 6/09/11 | 1,001,962 | ||
| 1,500 | Venetian Casino Resorts LLC, Loan | ||
| B, LIBOR + 1.75%, 6/15/11 | 1,515,000 | ||
| Wembley, Inc., | |||
| 995 | LIBOR + 2.00%, 8/23/11 | 1,009,925 | |
| 500 | LIBOR + 3.75%, 8/23/12 | 508,125 | |
| 1,099 | Wyndham Intl., Inc., Loan E, LIBOR | ||
| + 4.50%, 9/11/07 | 1,099,350 | ||
| 4,000 | Wynn Las Vegas LLC, 1.00%, 12/14/11 | 4,038,332 | |
| 484 | Yellowstone Mountain Club, LIBOR | ||
| + 2.38%, 9/30/10 | 485,210 | ||
| 35,520,947 |
7
BlackRock Global Floating Rate Income Trust (BGT) (continued)
| Principal | |||
|---|---|---|---|
| Amount | |||
| Rating 1 | (000) | Description | Value |
| Financial Institutions7.6% | |||
| $ 750 | Ameritrade, Loan B, LIBOR + 1.50%, | ||
| 12/31/12 | $ 754,079 | ||
| 1,185 | Arias Acquisitions, Inc., LIBOR + | ||
| 3.75%, 7/26/11 | 1,180,557 | ||
| 1,298 | Global Cash Access LLC, LIBOR + 2.25%, | ||
| 3/10/10 | 1,313,520 | ||
| 3,354 | Jostens, Inc., Loan C, LIBOR + 2.25%, | ||
| 10/04/11 | 3,397,347 | ||
| N.E.W. Holdings I LLC, | |||
| 876 | LIBOR + 3.00%, 7/08/11 | 884,049 | |
| 250 | LIBOR + 7.00%, 6/30/12 | 253,750 | |
| 2,000 | Nasdaq Stock Market, Inc., Loan B, | ||
| LIBOR + 1.50%, 12/08/11 | 2,013,334 | ||
| Navistar Financial Corp., | |||
| 2,181 | 1.00%, 2/22/09 | 2,169,847 | |
| 6,275 | LIBOR + 5.00%, 2/22/09 | 6,275,633 | |
| 3,000 | NTL, Inc., Loan B, LIBOR + 3.00%, | ||
| 4/13/12 | 3,022,500 | ||
| 1,500 | Pinnoak Resources LLC, LIBOR, 11/23/12 | 1,515,000 | |
| 1,250 | Professional Service, Inc., Loan | ||
| B, LIBOR + 3.00%, 10/31/12 | 1,256,250 | ||
| 1,965 | Ripplewood Phosphorus US LLC, LIBOR | ||
| + 3.25%, 7/20/11 | 1,957,631 | ||
| 484 | Roller Bearing Co. of America, LIBOR | ||
| + 2.50%, 6/30/11 | 486,587 | ||
| 6,000 | Rouse Co., LIBOR + 1.30%, 8/21/06 | 6,000,000 | |
| 1,500 | Targa Resources Asset Sale, LIBOR | ||
| + 2.25%, 10/31/07 | 1,503,750 | ||
| 462 | USI Holdings Corp., Loan B, TBD, | ||
| 8/11/08 | 464,141 | ||
| 34,447,975 | |||
| Health Care8.6% | |||
| 3,876 | Arizant, Inc., LIBOR + 3.75%, 8/15/10 | 3,890,472 | |
| 2,000 | CCS Medical, Loan B, LIBOR + 3.25%, | ||
| 9/30/12 | 1,994,376 | ||
| 5,377 | Community Health Systems, Inc., LIBOR | ||
| + 1.75%, 8/19/11 | 5,444,137 | ||
| 3,492 | Concentra Operating Corp., Loan B, | ||
| LIBOR + 2.00%, 9/30/11 | 3,531,982 | ||
| 942 | Davita, Inc., Loan B, LIBOR + 2.00%, | ||
| 10/05/12 | 953,093 | ||
| 912 | Duloxetine Royalty Sub., LIBOR + | ||
| 4.50%, 10/15/13 | 921,433 | ||
| 6,000 | HealthSouth Corp., TBD, 1/16/11 | 6,043,752 | |
| 2,956 | IASIS Healthcare Corp., Loan B, LIBOR | ||
| + 2.25%, 6/22/11 | 2,993,170 | ||
| 2,657 | Jean Coutu Group, Inc., Loan B, LIBOR | ||
| + 2.25%, 7/30/11 | 2,682,350 | ||
| 530 | Kinetic Concepts, Inc., Loan B2, | ||
| LIBOR + 1.75%, 8/11/10 | 536,179 | ||
| 500 | Radnet Management, Inc., Loan B, | ||
| LIBOR + 4.00%, 3/15/11 | 498,750 | ||
| 993 | Select Medical Corp., Loan B, LIBOR | ||
| + 1.75%, 2/24/12 | 982,299 | ||
| 500 | Triumph Healthcare Second Holdings, | ||
| Inc., LIBOR + 8.50%, 8/31/12 | 460,000 | ||
| 3,022 | US Oncology, Inc., LIBOR + 2.25%, | ||
| 8/20/11 | 3,055,494 | ||
| 993 | Vanguard Health Holding Co. II, LIBOR | ||
| + 2.25%, 9/23/11 | 1,003,976 | ||
| Warner Chilcott Corp., | |||
| 530 | 1.38%, 1/18/12 | 534,322 | |
| 2,167 | Loan B, LIBOR + 2.75%, 1/18/12 | 2,185,066 | |
| 873 | Loan C, LIBOR + 2.75%, 1/18/12 | 880,475 | |
| 403 | Loan D, LIBOR + 2.75%, 1/18/12 | 406,755 | |
| 38,998,081 | |||
| Industrials2.4% | |||
| Acosta, Inc., | |||
| 1,250 | LIBOR + 2.25%, 12/06/12 | 1,266,406 | |
| 150 | LIBOR + 5.75%, 6/06/13 | 154,687 | |
| 422 | Alderwoods Group, Inc., Loan B2, | ||
| LIBOR + 2.00%, 9/29/09 | 425,468 | ||
| Bolthouse Farms, Inc., | |||
| 1,000 | LIBOR + 2.50%, 12/16/12 | 1,015,000 | |
| 500 | PRIME + 4.50%, 12/16/13 | 512,708 | |
| 486 | Chart Industries, Inc., Loan B, LIBOR | ||
| + 2.00%, 10/17/12 | 494,011 | ||
| 2,000 | Drummond Co., Inc., TBD | 1,998,750 | |
| 720 | Novelis, Inc., Loan B, LIBOR + 1.75%, | ||
| 1/07/12 | 726,761 | ||
| 625 | QTC Acquisition, Inc., LIBOR + 6.50%, | ||
| 5/04/13 | 624,609 | ||
| 2,000 | Tinnerman Palnut Engineered Products, | ||
| Inc., LIBOR + 7.25%, 11/01/11 | 1,920,000 | ||
| 1,578 | Worldspan LP, LIBOR + 2.75%, 2/11/10 | 1,548,195 | |
| 10,686,595 |
8
BlackRock Global Floating Rate Income Trust (BGT) (continued)
| Principal | ||||
|---|---|---|---|---|
| Amount | ||||
| Rating 1 | (000) | Description | Value | |
| Media16.6% | ||||
| $ 1,844 | Alliance Atlantis Communications, | |||
| Inc., Loan C, LIBOR + 1.50%, 12/20/11 | $ 1,857,778 | |||
| 1,737 | American Lawyers Media, Inc., PRIME | |||
| + 1.50%, 3/05/10 | 1,742,664 | |||
| 1,000 | American Media Operations, Inc., | |||
| Loan B, LIBOR + 3.00%, 1/31/13 | 1,011,750 | |||
| 975 | Bragg Communications, Inc., Loan | |||
| B, LIBOR + 2.00%, 8/31/11 | 986,020 | |||
| 5,398 | 5 | Cablecom SCA, TBD, 12/31/10 | 4,140,822 | |
| 4,000 | Cablevision Systems Corp., TBD | 4,030,500 | ||
| 75 | Caprock Holdings, Inc., Loan B, LIBOR | |||
| + 3.50%, 2/01/12 | 74,625 | |||
| Century TCI California LP, | ||||
| 2,000 | PRIME + 0.75%, 12/31/07 | 1,985,416 | ||
| 10,000 | PRIME + 2.00%, 12/31/09 | 9,754,170 | ||
| Charter Communications Operating | ||||
| LLC, | ||||
| 5,993 | Loan A, LIBOR + 3.00%, 4/27/10 | 6,041,461 | ||
| 1,968 | Loan B, LIBOR + 3.25%, 4/07/11 | 1,983,613 | ||
| 3,479 | Dex Media East LLC, Loan B, LIBOR | |||
| + 1.75%, 5/08/09 | 3,506,114 | |||
| Dex Media West LLC, | ||||
| 1,000 | Loan B1, 0.50%, 3/09/10 | 1,004,821 | ||
| 1,592 | Loan B, LIBOR + 1.75%, 3/09/10 | 1,604,204 | ||
| 2,000 | DirecTV Holdings LLC, Loan B, LIBOR | |||
| + 1.50%, 4/13/13 | 2,021,250 | |||
| 863 | Emmis Communications Co., Loan B, | |||
| PRIME + 0.75%, 11/10/11 | 867,185 | |||
| 5,000 | Eutelsat SA, Loan B1, LIBOR + 2.00%, | |||
| 4/04/13 | 6,090,804 | |||
| Insight Midwest Holdings LLC, | ||||
| 3,777 | Loan A, LIBOR + 1.25%, 6/30/09 | 3,782,102 | ||
| 2,985 | Loan C, LIBOR + 2.00%, 12/31/09 | 3,025,134 | ||
| 1,500 | Liberty Cablevision of Puerto Rico | |||
| Ltd., LIBOR + 2.25%, 3/01/13 | 1,512,187 | |||
| Mediacom Communications Corp., | ||||
| 2,045 | Loan A, LIBOR + 1.50%, 3/31/10 | 2,040,793 | ||
| 993 | Loan C, LIBOR + 2.00%, 2/01/14 | 1,004,441 | ||
| 1,980 | Mediacom Illinois LLC, Loan B, LIBOR | |||
| + 2.25%, 3/31/13 | 2,005,679 | |||
| 1,941 | Mission Broadcasting, Inc., Loan | |||
| B, LIBOR + 1.75%, 8/14/12 | 1,947,520 | |||
| NEP Supershooters LP, | ||||
| 693 | LIBOR + 4.00%, 2/03/11 | 702,529 | ||
| 500 | LIBOR + 8.00%, 2/01/11 | 495,000 | ||
| 1,976 | Nexstar Broadcasting, Inc., Loan | |||
| B, LIBOR + 1.75%, 8/14/12 | 1,982,478 | |||
| 750 | Puerto Rico Cable Acquisition Co., | |||
| LIBOR + 6.25%, 2/28/12 | 758,438 | |||
| 750 | Quebecor Media, Inc., Loan B, LIBOR | |||
| + 2.00%, 1/17/13 | 760,079 | |||
| 1,001 | Triple Crown Media, Inc., PRIME + | |||
| 2.25%, 6/30/10 | 997,500 | |||
| 1,000 | UPC Distribution Corp., Loan H, LIBOR | |||
| + 2.75%, 9/30/12 | 1,005,208 | |||
| 3,931 | WMG Acquisition Corp., LIBOR + 2.00%, | |||
| 2/28/11 | 3,978,660 | |||
| 497 | Young Broadcasting, Inc., LIBOR + | |||
| 2.25%, 11/03/12 | 497,811 | |||
| 75,198,756 | ||||
| Publishing0.2% | ||||
| 750 | Endurance Business Media, Loan B, | |||
| LIBOR + 2.25%, 3/08/12 | 755,625 | |||
| Real Estate1.4% | ||||
| 1,058 | Acoustical Materials, LIBOR + 2.75%, | |||
| 4/13/12 | 1,065,625 | |||
| 2,596 | Headwaters, Inc., PRIME + 1.25%, | |||
| 4/30/11 | 2,614,129 | |||
| Kyle Acquisition Group LLC, | ||||
| 50 | LIBOR + 2.00%, 7/20/10 | 50,438 | ||
| 731 | Loan B, LIBOR + 2.00%, 7/20/08 | 737,747 | ||
| 871 | Lake Las Vegas Resort, LIBOR + 2.75%, | |||
| 11/01/09 | 872,078 | |||
| Masonite Intl. Corp., | ||||
| 495 | LIBOR + 2.00%, 4/05/13 | 488,644 | ||
| 1 | LIBOR + 2.00%, 4/05/13 (CND) | 616 | ||
| 1 | LIBOR + 2.00%, 4/05/13 (USD) | 617 | ||
| 404 | Stewart Enterprises, Inc., Loan B, | |||
| LIBOR + 1.75%, 11/19/11 | 407,522 | |||
| 6,237,416 |
9
BlackRock Global Floating Rate Income Trust (BGT) (continued)
| Principal | ||||
|---|---|---|---|---|
| Amount | ||||
| Rating 1 | (000) | Description | Value | |
| Technology2.4% | ||||
| $ 2,908 | Directed Electronics, Inc., LIBOR | |||
| + 2.25%, 3/15/10 | $ 2,926,319 | |||
| 496 | Federal IT Systems, Inc., LIBOR + | |||
| 2.75%, 4/01/11 | 499,662 | |||
| 500 | Serena Software, Inc., Loan B, LIBOR, | |||
| 3/11/13 | 506,688 | |||
| 353 | SS&C Technologies, Inc., LIBOR | |||
| + 2.50%, 11/23/12 | 355,913 | |||
| 2,240 | UGS Corp., LIBOR + 2.00%, 3/31/12 | 2,265,618 | ||
| 2,875 | Verifone, Inc., Loan B, LIBOR + 1.75%, | |||
| 6/30/11 | 2,903,871 | |||
| 1,400 | Westcom Corp., Loan B, LIBOR + 2.75%, | |||
| 12/16/10 | 1,400,044 | |||
| 10,858,115 | ||||
| Telecommunications7.1% | ||||
| 250 | AAT Communications Corp., LIBOR + | |||
| 1.75%, 7/27/12 | 250,625 | |||
| 1,000 | Alaska Communications Systems Holdings, | |||
| Inc., LIBOR + 1.75%, 1/31/12 | 1,008,250 | |||
| 2,000 | Atlantic Broadband Finance LLC, Loan | |||
| B1, LIBOR + 2.75%, 8/04/12 | 2,030,000 | |||
| 650 | Cavalier Telecom, TBD | 662,187 | ||
| 4,369 | Centennial Cellular Operating Co., | |||
| LIBOR + 2.25%, 2/09/11 | 4,427,368 | |||
| Communication Supply Corp., | ||||
| 96 | TBD, 2/28/12 | 96,394 | ||
| 404 | PRIME + 1.75%, 3/03/12 | 404,856 | ||
| 500 | Country Road Communications LLC, | |||
| LIBOR, 7/15/13 | 506,250 | |||
| 750 | Fairpoint Communications, Inc., LIBOR | |||
| + 1.75%, 2/08/12 | 755,437 | |||
| 990 | Intelsat Zeus, Ltd., 0.75%, 7/28/11 | 997,734 | ||
| 2,000 | Iowa Telecommunications Services, | |||
| Inc., Loan B, LIBOR + 1.75%, 11/23/11 | 2,022,084 | |||
| IPC Acquisition Corp., | ||||
| 750 | LIBOR + 7.25%, 8/05/12 | 760,625 | ||
| 961 | PRIME + 1.75%, 8/05/11 | 973,778 | ||
| 1,000 | Madison River Capital LLC, Loan B1, | |||
| LIBOR + 2.25%, 7/29/12 | 1,011,563 | |||
| NTELOS, Inc., | ||||
| 743 | LIBOR + 2.50%, 8/24/11 | 753,081 | ||
| 3,000 | LIBOR + 5.00%, 2/25/12 | 3,052,500 | ||
| PanAmSat Corp., | ||||
| 1,248 | Loan A1, LIBOR + 2.50%, 8/20/09 | 1,258,599 | ||
| 1,975 | Loan B1, LIBOR + 2.00%, 8/20/11 | 1,999,687 | ||
| 2,000 | Qwest Corp., Loan A, LIBOR + 4.75%, | |||
| 6/30/07 | 2,048,000 | |||
| 450 | Triton PCS, Inc., LIBOR + 3.25%, | |||
| 11/18/09 | 452,505 | |||
| 1,933 | Valor Telecommunication Enterprises | |||
| II LLC, Loan B, LIBOR + 1.75%, 2/14/12 | 1,936,052 | |||
| Wind Acquisition Finance SA, | ||||
| 2,000 | Loan B, TBD | 2,426,729 | ||
| 2,000 | Loan C, TBD | 2,438,847 | ||
| 32,273,151 | ||||
| Transportation0.6% | ||||
| 875 | Delta Air Lines, Inc., Loan A, LIBOR | |||
| + 4.50%, 3/16/08 | 886,719 | |||
| 360 | Sirva Worldwide, Inc., LIBOR + 4.00%, | |||
| 12/01/10 | 357,271 | |||
| 628 | Transport Industries LP, Loan B, | |||
| LIBOR + 2.50%, 9/30/11 | 635,739 | |||
| 1,000 | UAL Corp., TBD | 1,016,250 | ||
| 2,895,979 | ||||
| Total Bank Loans | 496,654,190 | |||
| Foreign Government Bonds30.5% | ||||
| B | 11,840 | Argentina Republic, 4.005%, 8/03/12 | 9,679,200 | |
| BB- | 5,809 | Bolivarian Republic of Venezuela, | ||
| 2.75%, 12/18/07 | 5,809,117 | |||
| Federative Republic of Brazil, | ||||
| BB- | 3,560 | 2.125%, 4/15/12 | 3,557,975 | |
| BB | 10,424 | 3.125%, 4/15/12 | 10,410,913 | |
| BB | 9,435 | 2 | 10.71%, 6/29/09 | 10,944,600 |
| BB | 640 | Ser. B, 10.00%, 8/07/11 | 751,040 | |
| B+ | 1,600 | Islamic Republic of Pakistan, 6.75%, | ||
| 2/19/09 | 1,610,926 | |||
| BB+ | 5,689 | Kingdom of Morocco, Zero Coupon, | ||
| 1/02/09 | 5,688,887 | |||
| A- | 800 | Malaysia, 8.75%, 6/01/09 | 875,074 | |
| A | 2,400 | Republic of Chile, 6.875%, 4/28/09 | 2,499,000 | |
| BB | 1,200 | 2,5 | Republic of Colombia, 8.47%, 3/17/13 | 1,338,000 |
10
BlackRock Global Floating Rate Income Trust (BGT) (continued)
| Principal | ||||
|---|---|---|---|---|
| Amount | ||||
| Rating 1 | (000) | Description | Value | |
| Foreign Government Bonds(contd) | ||||
| BB | $ 3,200 | Republic of Costa Rica, 9.335%, 5/15/09 | $ 3,488,000 | |
| BB+ | 800 | Republic of El Salvador, 9.50%, 8/15/06 | 811,600 | |
| Republic of Panama, | ||||
| BB | 12,714 | 2.75%, 7/17/16 | 12,523,559 | |
| BB | 2,000 | 8.25%, 4/22/08 | 2,090,000 | |
| Republic of Peru, | ||||
| BB | 5,432 | 4.50%, 3/07/17 | 5,119,660 | |
| BB | 2,400 | 9.125%, 1/15/08 | 2,526,000 | |
| BBB+ | 2,400 | Republic of South Africa, 7.375%, | ||
| 4/25/12 | 2,597,280 | |||
| BB- | 2,400 | Republic of the Philippines, 8.875%, | ||
| 4/15/08 | 2,556,612 | |||
| BB- | 2,400 | Republic of Turkey, 12.00%, 12/15/08 | 2,757,600 | |
| B+ | 950 | Republic of Uruguay, 6.875%, 1/19/16 | 1,221,772 | |
| BB- | 3,321 | Republic of Venezuela, 3.063%, 3/31/07 | 3,321,074 | |
| BBB | 4,000 | Russian Federation, 10.00%, 6/26/07 | 4,209,200 | |
| A2 | 2,000 | 2 | Sberbank of Russia, 6.37%, 10/24/06 | 2,011,800 |
| Ukraine, | ||||
| BB- | 2,800 | 3 | 6.875%, 3/04/11 | 2,823,800 |
| BB- | 16,100 | 2,3 | 8.235%, 8/05/09 | 17,227,000 |
| United Mexican States, | ||||
| BBB | 4,800 | 2 | 5.75%, 1/13/09 | 4,852,800 |
| A | 21,380 | 8.00%, 12/19/13 (MXN) | 1,916,667 | |
| A | 16,945 | 9.00%, 12/20/12 (MXN) | 1,600,178 | |
| A | 545 | 9.50%, 12/18/14 (MXN) | 53,234 | |
| Venezuela Republic, | ||||
| BB- | 4,000 | 2 | 6.075%, 4/20/11 | 4,022,000 |
| BB- | 4,800 | 9.125%, 6/18/07 | 4,992,000 | |
| BB- | 2,000 | 11.00%, 3/05/08 | 2,723,026 | |
| Total Foreign Government Bonds | 138,609,594 | |||
| Total Long-Term Investments (cost | ||||
| $720,082,189) | 727,427,501 | |||
| SHORT-TERM INVESTMENT1.1% | ||||
| U.S. Government and Agency Zero | ||||
| Coupon Bond1.1% | ||||
| 4,900 | 6 | Federal Home Loan Bank Discount Note, | ||
| 4.63%, 4/03/06 (cost $4,898,740) | 4,898,740 | |||
| Total investments161.4% | ||||
| (cost $724,980,929 7 ) | $732,326,241 | |||
| Liabilities in excess of other assets | ||||
| (including $16,342,230 in reverse repurchase agreements payable)(7.7)% | (35,103,276) | |||
| Preferred shares at redemption value, | ||||
| including dividends payable(53.7)% | (243,510,431) | |||
| Net Assets100% | $453,712,534 |
| 1 | Using the higher of Standard & Poors,
Moodys Investors Service or Fitchs ratings. |
| --- | --- |
| 2 | Rate shown is interest rate
as of March 31, 2006. |
| 3 | 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, 2006, the Trust held 6.3% of its net assets,
with a current market value of $28,531,424, in securities restricted
as to resale. |
| 4 | Issuer is in default and/or
bankruptcy. |
| 5 | Security is fair valued. |
| 6 | Rate shown is the yield
to maturity as of March 31, 2006. |
| 7 | Cost for Federal income tax purposes
is $725,043,954. The net unrealized appreciation on a tax basis is $7,282,287,
consisting of $10,426,109 gross unrealized appreciation and $3,143,822
gross unrealized depreciation. |
| | A category in the Corporate
Bonds and Bank Loans sections may contain multiple industries as defined
by the SECs Standard Industry Codes. |
| KEY
TO ABBREVIATIONS — CND | | Canadian Dollar | TBD | | To Be Determined |
| --- | --- | --- | --- | --- | --- |
| MXN | | Mexican Peso | USD | | U.S. Dollar |
11
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 Registrants 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 Registrants 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 Registrants 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/ Henry Gabbay _________ Name: Henry Gabbay Title: Treasurer and Principal Financial Officer Date: May 25, 2006
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, 2006 By:_ /s/ Henry Gabbay ______ Name: Henry Gabbay Title: Treasurer and Principal Financial Officer Date: May 25, 2006
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