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 811-21318

 

Name of Fund: BlackRock Corporate High Yield Fund VI, Inc. (HYT)

 

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

 

Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock Corporate High Yield Fund VI, Inc., 55 East 52nd Street, New York, NY 10055

 

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

 

Date of fiscal year end: 08/31/2012

 

Date of reporting period: 05/31/2012

 

Item 1 – Schedule of Investments

 


 

 

 

 

Consolidated Schedule of Investments May 31, 2012 (Unaudited)

BlackRock Corporate High Yield Fund VI, Inc. (HYT)

(Percentages shown are based on Net Assets)


 

 

 

 

 

 

 

 

Asset-Backed Securities

 

Par
(000)

 

Value

 

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

 

USD

1,693

 

$

1,777,140

 

Total Asset-Backed Securities – 0.4%

 

 

 

 

 

1,777,140

 


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common Stocks

 

Shares

 

 

 

 

Auto Components — 2.9%

 

 

 

 

 

 

 

Dana Holding Corp.

 

 

94,250

 

 

1,255,410

 

Delphi Automotive Plc (a)

 

 

355,462

 

 

10,319,065

 

Delphi Automotive Plc (a)

 

 

21,191

 

 

615,172

 

 

 

 

 

 

 

12,189,647

 

Biotechnology — 0.0%

 

 

 

 

 

 

 

Ironwood Pharmaceuticals, Inc. (a)

 

 

11,018

 

 

131,334

 

Capital Markets — 0.2%

 

 

 

 

 

 

 

E*Trade Financial Corp. (a)

 

 

116,200

 

 

986,538

 

Chemicals — 0.2%

 

 

 

 

 

 

 

CF Industries Holdings, Inc.

 

 

3,380

 

 

577,845

 

Huntsman Corp.

 

 

21,750

 

 

278,400

 

 

 

 

 

 

 

856,245

 

Commercial Banks — 0.3%

 

 

 

 

 

 

 

CIT Group, Inc. (a)

 

 

34,410

 

 

1,176,478

 

Communications Equipment — 0.3%

 

 

 

 

 

 

 

Loral Space & Communications
Ltd.

 

 

21,531

 

 

1,298,319

 

Diversified Financial Services — 0.7%

 

 

 

 

 

 

 

Kcad Holdings I Ltd. (a)

 

 

360,332,790

 

 

2,856,358

 

Diversified Telecommunication Services — 0.1%

 

 

 

 

 

 

 

Level 3 Communications, Inc. (a)

 

 

23,800

 

 

505,274

 

Electrical Equipment — 0.0%

 

 

 

 

 

 

 

Medis Technologies Ltd. (a)

 

 

116,910

 

 

433

 

Energy Equipment & Services — 1.2%

 

 

 

 

 

 

 

Laricina Energy Ltd. (a)

 

 

70,588

 

 

2,904,575

 

Osum Oil Sands Corp. (a)

 

 

124,000

 

 

1,500,702

 

Transocean Ltd.

 

 

13,400

 

 

547,122

 

 

 

 

 

 

 

4,952,399

 

Hotels, Restaurants & Leisure — 0.0%

 

 

 

 

 

 

 

Buffets Restaurants Holdings, Inc. (a)

 

 

1,816

 

 

91

 

Travelport Worldwide Ltd.

 

 

118,935

 

 

59,467

 

 

 

 

 

 

 

59,558

 

Media — 1.7%

 

 

 

 

 

 

 

Belo Corp., Class A

 

 

36,341

 

 

210,051

 

Charter Communications, Inc. (a)

 

 

101,076

 

 

6,337,465

 


 

 

 

 

 

 

 

 

Common Stocks

 

Shares

 

Value

 

Media (concluded)

 

 

 

 

 

 

 

Clear Channel Outdoor Holdings,
Inc., Class A (a)

 

 

14,553

 

$

91,684

 

DISH Network Corp., Class A (a)

 

 

9,200

 

 

257,968

 

 

 

 

 

 

 

6,897,168

 

Metals & Mining — 0.1%

 

 

 

 

 

 

 

African Minerals Ltd. (a)

 

 

72,301

 

 

419,978

 

Oil, Gas & Consumable Fuels — 0.1%

 

 

 

 

 

 

 

African Petroleum Corp. Ltd (a)

 

 

161,500

 

 

220,244

 

Paper & Forest Products — 0.1%

 

 

 

 

 

 

 

Ainsworth Lumber Co. Ltd. (a)

 

 

192,951

 

 

227,913

 

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

 

 

221,591

 

 

261,743

 

Western Forest Products, Inc. (a)

 

 

78,039

 

 

62,712

 

 

 

 

 

 

 

552,368

 

Road & Rail — 0.2%

 

 

 

 

 

 

 

Dollar Thrifty Automotive Group,
Inc. (a)

 

 

9,100

 

 

742,378

 

Semiconductors & Semiconductor Equipment — 0.3%

 

 

 

 

 

 

 

Spansion, Inc., Class A (a)

 

 

103,218

 

 

1,114,755

 

SunPower Corp. (a)

 

 

431

 

 

2,159

 

 

 

 

 

 

 

1,116,914

 

Software — 0.0%

 

 

 

 

 

 

 

Bankruptcy Management
Solutions, Inc. (a)

 

 

787

 

 

23

 

HMH Holdings/EduMedia (a)

 

 

141,287

 

 

1,413

 

 

 

 

 

 

 

1,436

 

Total Common Stocks – 8.4%

 

 

 

 

 

34,963,069

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Bonds

 

Par
(000
)

 

 

 

 

Aerospace & Defense — 0.5%

 

 

 

 

 

 

 

Huntington Ingalls Industries, Inc.:

 

 

 

 

 

 

 

6.88%, 3/15/18

 

USD

370

 

 

382,950

 

7.13%, 3/15/21

 

 

520

 

 

539,500

 

Kratos Defense & Security
Solutions, Inc., 10.00%,
6/01/17

 

 

1,274

 

 

1,350,440

 

 

 

 

 

 

 

2,272,890

 

Airlines — 2.1%

 

 

 

 

 

 

 

Continental Airlines, Inc.:
6.90%, 1/02/17

 

 

793

 

 

793,437

 

Series 2010-1, Class B,
6.00%, 1/12/19

 

 

672

 

 

673,337

 

Delta Air Lines, Inc.:

 

 

 

 

 

 

 

Series 2002-1, Class G-1,
6.72%, 1/02/23

 

 

944

 

 

1,001,059

 


 

 

 

 

 

 

 

 

 

BLACKROCK CORPORATE HIGH YIELD FUND VI, INC.

MAY 31, 2012

1




 

 

 

 

Consolidated Schedule of Investments (continued)

BlackRock Corporate High Yield Fund VI, Inc. (HYT)

(Percentages shown are based on Net Assets)


 

 

 

 

 

 

 

 

Corporate Bonds

 

Par
(000)

 

Value

 

Airlines (concluded)

 

 

 

 

 

 

 

Delta Air Lines, Inc. (concluded):

 

 

 

 

 

 

 

Series 2009-1, Class B,
9.75%, 12/17/16

 

USD

293

 

$

313,846

 

Series 2010-1-B, 6.38%,
1/02/16

 

 

900

 

 

900,000

 

United Air Lines, Inc., 12.75%,
7/15/12

 

 

3,064

 

 

3,094,730

 

US Airways Pass Through Trust:

 

 

 

 

 

 

 

9.13%, 10/01/15

 

 

700

 

 

700,000

 

Series 2011-1, Class C,
10.88%, 10/22/14

 

 

1,053

 

 

1,084,362

 

 

 

 

 

 

 

8,560,771

 

Auto Components — 2.1%

 

 

 

 

 

 

 

Dana Holding Corp., 6.75%,
2/15/21

 

 

700

 

 

749,000

 

Delphi Corp., 6.13%, 5/15/21

 

 

260

 

 

276,900

 

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

 

 

5,060

 

 

5,357,275

 

IDQ Holdings, Inc., 11.50%,
4/01/17 (b)

 

 

595

 

 

621,775

 

International Automotive
Components Group, SL, 9.13%,
6/01/18 (b)

 

 

70

 

 

63,175

 

Jaguar Land Rover Plc, 8.25%,
3/15/20

 

GBP

745

 

 

1,126,378

 

Titan International, Inc., 7.88%,
10/01/17

 

USD

720

 

 

745,200

 

 

 

 

 

 

 

8,939,703

 

Beverages — 0.3%

 

 

 

 

 

 

 

Crown European Holdings SA:

 

 

 

 

 

 

 

7.13%, 8/15/18 (b)

 

EUR

465

 

 

613,784

 

7.13%, 8/15/18

 

 

413

 

 

545,145

 

Refresco Group BV, 7.38%,
5/15/18

 

 

212

 

 

233,303

 

 

 

 

 

 

 

1,392,232

 

Biotechnology — 0.1%

 

 

 

 

 

 

 

QHP Royalty Sub LLC, 10.25%,
3/15/15 (b)

 

USD

260

 

 

260,450

 

Building Products — 0.7%

 

 

 

 

 

 

 

Building Materials Corp. of America (b):

 

 

 

 

 

 

 

7.00%, 2/15/20

 

 

840

 

 

882,000

 

6.75%, 5/01/21

 

 

1,470

 

 

1,503,075

 

Momentive Performance
Materials, Inc., 11.50%,
12/01/16

 

 

740

 

 

555,000

 

 

 

 

 

 

 

2,940,075

 

Capital Markets — 1.1%

 

 

 

 

 

 

 

American Capital Ltd., 7.96%,
12/31/13

 

 

1,100

 

 

1,103,091

 

E*Trade Financial Corp.:

 

 

 

 

 

 

 

12.50%, 11/30/17

 

 

1,660

 

 

1,904,850

 

2.36%, 8/31/19 (b)(c)(d)

 

 

380

 

 

320,625

 


 

 

 

 

 

 

 

 

Corporate Bonds

 

Par
(000)

 

Value

 

Capital Markets (concluded)

 

 

 

 

 

 

 

KKR Group Finance Co., 6.38%,
9/29/20 (b)

 

USD

1,020

 

$

1,097,856

 

 

 

 

 

 

 

4,426,422

 

Chemicals — 4.1%

 

 

 

 

 

 

 

American Pacific Corp., 9.00%,
2/01/15

 

 

1,400

 

 

1,393,000

 

Ashland, Inc., 9.13%, 6/01/17

 

 

40

 

 

43,900

 

Basell Finance Co. BV, 8.10%,
3/15/27 (b)

 

 

770

 

 

908,600

 

Celanese US Holdings LLC, 5.88%,
6/15/21

 

 

2,780

 

 

2,898,150

 

Chemtura Corp., 7.88%, 9/01/18

 

 

480

 

 

498,000

 

Hexion US Finance Corp.:

 

 

 

 

 

 

 

6.63%, 4/15/20 (b)

 

 

820

 

 

830,250

 

9.00%, 11/15/20

 

 

485

 

 

423,163

 

Huntsman International LLC,
8.63%, 3/15/21

 

 

265

 

 

296,800

 

Ineos Finance Plc (b):

 

 

 

 

 

 

 

8.38%, 2/15/19

 

 

1,325

 

 

1,361,437

 

7.50%, 5/01/20

 

 

680

 

 

673,200

 

Ineos Group Holdings Plc, 8.50%,
2/15/16 (b)

 

 

230

 

 

207,575

 

Kinove German Bondco GmbH,
10.00%, 6/15/18

 

EUR

591

 

 

725,437

 

Kraton Polymers LLC, 6.75%,
3/01/19

 

USD

195

 

 

199,875

 

LyondellBasell Industries NV,
5.75%, 4/15/24 (b)

 

 

4,245

 

 

4,351,125

 

Nexeo Solutions LLC, 8.38%,
3/01/18 (b)

 

 

290

 

 

278,400

 

PolyOne Corp., 7.38%, 9/15/20

 

 

335

 

 

353,425

 

Solutia, Inc., 7.88%, 3/15/20

 

 

955

 

 

1,117,350

 

TPC Group LLC, 8.25%, 10/01/17

 

 

520

 

 

546,000

 

 

 

 

 

 

 

17,105,687

 

Commercial Banks — 1.3%

 

 

 

 

 

 

 

CIT Group, Inc.:

 

 

 

 

 

 

 

7.00%, 5/02/16 (b)

 

 

2,805

 

 

2,801,494

 

5.25%, 3/15/18

 

 

860

 

 

847,100

 

5.50%, 2/15/19 (b)

 

 

840

 

 

816,900

 

6.00%, 4/01/36

 

 

850

 

 

764,069

 

 

 

 

 

 

 

5,229,563

 

Commercial Services & Supplies — 2.3%

 

 

 

 

 

 

 

ARAMARK Corp., 8.50%, 2/01/15

 

 

560

 

 

573,306

 

ARAMARK Holdings Corp., 8.63%,
5/01/16 (b)(e)

 

 

680

 

 

695,307

 

Aviation Capital Group Corp.,
6.75%, 4/06/21 (b)

 

 

840

 

 

845,998

 

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

 

 

151

 

 

155,552

 

Baker Corp. International, Inc.,
8.25%, 6/01/19 (b)

 

 

325

 

 

325,000

 

Brickman Group Holdings, Inc.,
9.13%, 11/01/18 (b)

 

 

43

 

 

41,280

 


 

 

 

 

 

 

 

 

 

BLACKROCK CORPORATE HIGH YIELD FUND VI, INC.

MAY 31, 2012

2




 

 

 

 

Consolidated Schedule of Investments (continued)

BlackRock Corporate High Yield Fund VI, Inc. (HYT)

(Percentages shown are based on Net Assets)


 

 

 

 

 

 

 

 

Corporate Bonds

 

Par
(000)

 

Value

 

Commercial Services & Supplies (concluded)

 

 

 

 

 

 

 

Casella Waste Systems, Inc.,
7.75%, 2/15/19

 

USD

1,016

 

$

995,680

 

Clean Harbors, Inc., 7.63%,
8/15/16

 

 

590

 

 

616,550

 

Covanta Holding Corp., 6.38%,
10/01/22

 

 

985

 

 

1,021,326

 

Iron Mountain, Inc., 7.75%,
10/01/19

 

 

510

 

 

543,150

 

Mead Products LLC / ACCO Brands
Corp., 6.75%, 4/30/20 (b)

 

 

710

 

 

729,525

 

Mobile Mini, Inc., 7.88%,
12/01/20

 

 

570

 

 

598,500

 

RSC Equipment Rental, Inc.,
8.25%, 2/01/21

 

 

1,348

 

 

1,425,510

 

Verisure Holding AB:

 

 

 

 

 

 

 

8.75%, 9/01/18

 

EUR

385

 

 

446,299

 

8.75%, 12/01/18

 

 

139

 

 

143,514

 

West Corp., 8.63%, 10/01/18

 

USD

210

 

 

218,925

 

 

 

 

 

 

 

9,375,422

 

Communications Equipment — 1.0%

 

 

 

 

 

 

 

Avaya, Inc., 9.75%, 11/01/15

 

 

1,160

 

 

957,000

 

Consolidated Communications
Finance Co., 10.88%, 6/01/20 (b)

 

 

1,010

 

 

1,010,000

 

Frontier Communications Corp.,
6.25%, 1/15/13

 

 

1,390

 

 

1,421,275

 

Hughes Satellite Systems Corp.,
6.50%, 6/15/19

 

 

580

 

 

588,700

 

 

 

 

 

 

 

3,976,975

 

Computers & Peripherals — 0.1%

 

 

 

 

 

 

 

SanDisk Corp., 1.50%, 8/15/17 (d)

 

 

340

 

 

338,300

 

Construction & Engineering — 0.2%

 

 

 

 

 

 

 

Boart Longyear Management Property
Ltd., 7.00%, 4/01/21 (b)

 

 

300

 

 

309,750

 

URS Corp., 5.00%, 4/01/22 (b)

 

 

540

 

 

534,578

 

 

 

 

 

 

 

844,328

 

Construction Materials — 1.2%

 

 

 

 

 

 

 

HD Supply, Inc. (b):

 

 

 

 

 

 

 

8.13%, 4/15/19

 

 

2,050

 

 

2,137,125

 

11.00%, 4/15/20

 

 

2,160

 

 

2,230,200

 

Xefin Lux SCA:

 

 

 

 

 

 

 

8.00%, 6/01/18 (b)

 

EUR

393

 

 

444,640

 

8.00%, 6/01/18

 

 

310

 

 

350,733

 

 

 

 

 

 

 

5,162,698

 

Consumer Finance — 0.9%

 

 

 

 

 

 

 

Credit Acceptance Corp., 9.13%,
2/01/17

 

USD

710

 

 

763,250

 

Ford Motor Credit Co. LLC:

 

 

 

 

 

 

 

7.80%, 6/01/12

 

 

300

 

 

300,000

 

7.00%, 4/15/15

 

 

800

 

 

898,000

 


 

 

 

 

 

 

 

 

Corporate Bonds

 

Par
(000)

 

Value

 

Consumer Finance (concluded)

 

 

 

 

 

 

 

Ford Motor Credit Co. LLC (concluded):

 

 

 

 

 

 

 

12.00%, 5/15/15

 

USD

1,150

 

$

1,451,875

 

6.63%, 8/15/17

 

 

185

 

 

214,811

 

Springleaf Finance (FKA AGFS
Funding Co.), 6.90%, 12/15/17

 

 

160

 

 

125,600

 

 

 

 

 

 

 

3,753,536

 

Containers & Packaging — 1.5%

 

 

 

 

 

 

 

Ardagh Packaging Finance Plc:

 

 

 

 

 

 

 

7.38%, 10/15/17 (b)

 

EUR

574

 

 

731,044

 

7.38%, 10/15/17

 

 

100

 

 

127,360

 

9.13%, 10/15/20 (b)

 

USD

210

 

 

218,400

 

9.13%, 10/15/20 (b)

 

 

615

 

 

633,450

 

Berry Plastics Corp.:

 

 

 

 

 

 

 

4.35%, 9/15/14 (f)

 

 

465

 

 

455,119

 

8.25%, 11/15/15

 

 

185

 

 

195,637

 

9.50%, 5/15/18

 

 

335

 

 

343,375

 

9.75%, 1/15/21

 

 

490

 

 

509,600

 

Beverage Packaging Holdings
Luxembourg II SA, 8.00%,
12/15/16

 

EUR

803

 

 

873,761

 

GCL Holdings SCA, 9.38%,
4/15/18 (b)

 

 

414

 

 

460,720

 

Graphic Packaging International,
Inc., 7.88%, 10/01/18

 

USD

580

 

 

639,450

 

OI European Group BV, 6.88%,
3/31/17

 

EUR

254

 

 

324,278

 

Sealed Air Corp., 8.38%,
9/15/21 (b)

 

USD

395

 

 

434,500

 

Smurfit Kappa Acquisitions,
7.25%, 11/15/17 (b)

 

EUR

52

 

 

66,870

 

Tekni-Plex, Inc., 9.75%,
6/01/19 (b)

 

USD

275

 

 

272,937

 

 

 

 

 

 

 

6,286,501

 

Diversified Consumer Services — 1.5%

 

 

 

 

 

 

 

Service Corp. International, 7.00%,
6/15/17

 

 

4,775

 

 

5,312,188

 

ServiceMaster Co., 8.00%,
2/15/20

 

 

1,020

 

 

1,069,725

 

 

 

 

 

 

 

6,381,913

 

Diversified Financial Services — 4.2%

 

 

 

 

 

 

 

Ally Financial, Inc.:

 

 

 

 

 

 

 

7.50%, 12/31/13

 

 

700

 

 

742,000

 

8.00%, 11/01/31

 

 

4,640

 

 

5,220,000

 

8.00%, 11/01/31

 

 

950

 

 

1,061,781

 

Boparan Holdings Ltd. (b):

 

 

 

 

 

 

 

9.75%, 4/30/18

 

EUR

166

 

 

203,206

 

9.88%, 4/30/18

 

GBP

225

 

 

336,367

 

CNG Holdings, Inc., 9.38%,
5/15/20 (b)

 

USD

465

 

 

467,325

 

DPL, Inc., 7.25%, 10/15/21 (b)

 

 

1,815

 

 

1,973,812

 

General Motors Financial Co., Inc.,
6.75%, 6/01/18

 

 

460

 

 

493,843

 


 

 

 

 

 

 

 

 

 

BLACKROCK CORPORATE HIGH YIELD FUND VI, INC.

MAY 31, 2012

3




 

 

 

 

Consolidated Schedule of Investments(continued)

BlackRock Corporate High Yield Fund VI, Inc. (HYT)

(Percentages shown are based on Net Assets)


 

 

 

 

 

 

 

 

Corporate Bonds

 

Par
(000)

 

Value

 

Diversified Financial Services (concluded)

 

 

 

 

 

 

 

Leucadia National Corp., 8.13%,
9/15/15

 

USD

1,232

 

$

1,376,760

 

Reynolds Group Issuer, Inc.:

 

 

 

 

 

 

 

7.75%, 10/15/16 (b)

 

EUR

147

 

 

186,764

 

7.75%, 10/15/16

 

 

310

 

 

393,856

 

7.13%, 4/15/19 (b)

 

USD

385

 

 

395,588

 

9.00%, 4/15/19 (b)

 

 

150

 

 

144,000

 

7.88%, 8/15/19 (b)

 

 

715

 

 

756,113

 

9.88%, 8/15/19 (b)

 

 

2,065

 

 

2,059,837

 

6.88%, 2/15/21 (b)

 

 

240

 

 

243,600

 

8.50%, 2/15/21 (b)

 

 

205

 

 

190,138

 

WMG Acquisition Corp.:

 

 

 

 

 

 

 

9.50%, 6/15/16 (b)

 

 

190

 

 

202,825

 

11.50%, 10/01/18

 

 

910

 

 

969,150

 

 

 

 

 

 

 

17,416,965

 

Diversified Telecommunication Services — 1.7%

 

 

 

 

 

 

 

Broadview Networks Holdings, Inc.,
11.38%, 9/01/12

 

 

1,680

 

 

1,293,600

 

ITC Deltacom, Inc., 10.50%,
4/01/16

 

 

440

 

 

463,100

 

Level 3 Financing, Inc.:

 

 

 

 

 

 

 

8.13%, 7/01/19

 

 

2,577

 

 

2,577,000

 

8.63%, 7/15/20 (b)

 

 

1,480

 

 

1,509,600

 

Windstream Corp.:

 

 

 

 

 

 

 

8.13%, 8/01/13

 

 

703

 

 

739,908

 

7.88%, 11/01/17

 

 

627

 

 

667,755

 

 

 

 

 

 

 

7,250,963

 

Electric Utilities — 0.8%

 

 

 

 

 

 

 

The Tokyo Electric Power Co., Inc.,
4.50%, 3/24/14

 

EUR

2,600

 

 

3,182,752

 

Electronic Equipment, Instruments & Components — 0.3%

 

 

 

 

 

 

 

CDW LLC / CDW Finance Corp.,
8.50%, 4/01/19

 

USD

330

 

 

339,075

 

Elster Finance BV, 6.25%,
4/15/18 (b)

 

EUR

173

 

 

220,867

 

Jabil Circuit, Inc., 8.25%, 3/15/ 18

 

USD

365

 

 

423,400

 

NXP BV/NXP Funding LLC, 9.75%,
8/01/18 (b)

 

 

310

 

 

349,525

 

 

 

 

 

 

 

1,332,867

 

Energy Equipment & Services — 3.3%

 

 

 

 

 

 

 

Antero Resources Finance Corp.,
7.25%, 8/01/19 (b)

 

 

260

 

 

263,250

 

Atwood Oceanics, Inc., 6.50%,
2/01/20

 

 

215

 

 

222,525

 

Calfrac Holdings LP, 7.50%,
12/01/20 (b)

 

 

610

 

 

573,400

 

Cie Generale de Geophysique - Veritas:

 

 

 

 

 

 

 

7.75%, 5/15/17

 

 

395

 

 

406,850

 

6.50%, 6/01/21

 

 

1,945

 

 

1,906,100

 

Forbes Energy Services Ltd.,
9.00%, 6/15/19

 

 

555

 

 

514,762

 

Frac Tech Services LLC, 8.13%,
11/15/18 (b)

 

 

2,730

 

 

2,702,700

 


 

 

 

 

 

 

 

 

Corporate Bonds

 

Par
(000)

 

Value

 

Energy Equipment & Services (concluded)

 

 

 

 

 

 

 

Gulfmark Offshore, Inc., 6.38%,
3/15/22 (b)

 

USD

245

 

$

246,225

 

Hornbeck Offshore Services, Inc.,
5.88%, 4/01/20 (b)

 

 

490

 

 

480,200

 

Key Energy Services, Inc., 6.75%,
3/01/21

 

 

700

 

 

702,625

 

MEG Energy Corp., 6.50%,
3/15/21 (b)

 

 

1,880

 

 

1,917,600

 

Oil States International, Inc.,
6.50%, 6/01/19

 

 

495

 

 

511,088

 

Peabody Energy Corp.:

 

 

 

 

 

 

 

6.25%, 11/15/21 (b)

 

 

2,170

 

 

2,164,575

 

7.88%, 11/01/26

 

 

580

 

 

600,300

 

Precision Drilling Corp.:

 

 

 

 

 

 

 

6.63%, 11/15/20

 

 

240

 

 

243,600

 

6.50%, 12/15/21

 

 

460

 

 

463,450

 

 

 

 

 

 

 

13,919,250

 

Food & Staples Retailing — 0.2%

 

 

 

 

 

 

 

Bakkavor Finance 2 Plc, 8.25%,
2/15/18 (g)

 

GBP

200

 

 

251,216

 

Rite Aid Corp., 9.25%, 3/15/20 (b)

 

USD

580

 

 

555,350

 

 

 

 

 

 

 

806,566

 

Food Products — 0.3%

 

 

 

 

 

 

 

Darling International, Inc., 8.50%,
12/15/18

 

 

180

 

 

200,925

 

Del Monte Corp., 7.63%, 2/15/19

 

 

540

 

 

523,800

 

Post Holdings, Inc., 7.38%,
2/15/22 (b)

 

 

350

 

 

356,125

 

 

 

 

 

 

 

1,080,850

 

Health Care Equipment & Supplies — 2.2%

 

 

 

 

 

 

 

Biomet, Inc.:

 

 

 

 

 

 

 

10.00%, 10/15/17

 

 

300

 

 

319,125

 

10.38%, 10/15/17 (e)

 

 

4,305

 

 

4,582,134

 

DJO Finance LLC:

 

 

 

 

 

 

 

10.88%, 11/15/14

 

 

804

 

 

818,070

 

8.75%, 3/15/18 (b)

 

 

695

 

 

698,475

 

7.75%, 4/15/18

 

 

160

 

 

129,200

 

Fresenius Medical Care US Finance,
Inc., 6.50%, 9/15/18 (b)

 

 

324

 

 

337,770

 

Fresenius Medical Care US Finance II,
Inc., 5.88%, 1/31/22 (b)

 

 

1,010

 

 

1,004,950

 

Fresenius US Finance II, Inc.,
9.00%, 7/15/15 (b)

 

 

850

 

 

971,125

 

Teleflex, Inc., 6.88%, 6/01/19

 

 

455

 

 

482,300

 

 

 

 

 

 

 

9,343,149

 

Health Care Providers & Services — 5.6%

 

 

 

 

 

 

 

Aviv Healthcare Properties LP:

 

 

 

 

 

 

 

7.75%, 2/15/19

 

 

640

 

 

665,600

 

7.75%, 2/15/19 (b)

 

 

240

 

 

247,200

 

ConvaTec Healthcare E SA, 7.38%,
12/15/17 (b)

 

EUR

694

 

 

875,294

 


 

 

 

 

 

 

 

 

 

BLACKROCK CORPORATE HIGH YIELD FUND VI, INC.

MAY 31, 2012

4




 

 

 

 

Consolidated Schedule of Investments(continued)

BlackRock Corporate High Yield Fund VI, Inc. (HYT)

(Percentages shown are based on Net Assets)


 

 

 

 

 

 

 

 

Corporate Bonds

 

Par
(000)

 

Value

 

Health Care Providers & Services (concluded)

 

 

 

 

 

 

 

Crown Newco 3 Plc, 7.00%,
2/15/18 (b)

 

GBP

575

 

$

841,881

 

HCA, Inc.:

 

 

 

 

 

 

 

8.50%, 4/15/19

 

USD

205

 

 

226,269

 

6.50%, 2/15/20

 

 

3,100

 

 

3,274,375

 

7.88%, 2/15/20

 

 

145

 

 

159,138

 

7.25%, 9/15/20

 

 

4,020

 

 

4,381,800

 

5.88%, 3/15/22

 

 

425

 

 

421,812

 

IASIS Healthcare LLC, 8.38%,
5/15/19

 

 

2,315

 

 

2,176,100

 

INC Research LLC, 11.50%,
7/15/19 (b)

 

 

640

 

 

605,600

 

inVentiv Health, Inc., 10.00%,
8/15/18 (b)

 

 

200

 

 

169,000

 

Omnicare, Inc., 7.75%, 6/01/20

 

 

1,520

 

 

1,668,200

 

PSS World Medical, Inc., 6.38%,
3/01/22 (b)

 

 

450

 

 

454,500

 

Symbion, Inc., 8.00%, 6/15/16

 

 

535

 

 

521,625

 

Tenet Healthcare Corp.:

 

 

 

 

 

 

 

10.00%, 5/01/18

 

 

745

 

 

849,300

 

6.25%, 11/01/18 (b)

 

 

510

 

 

515,100

 

8.88%, 7/01/19

 

 

3,785

 

 

4,210,812

 

United Surgical Partners
International, Inc., 9.00%,
4/01/20 (b)

 

 

450

 

 

466,875

 

Vanguard Health Holding Co. II
LLC, 7.75%, 2/01/19 (b)

 

 

720

 

 

705,600

 

 

 

 

 

 

 

23,436,081

 

Health Care Technology — 1.1%

 

 

 

 

 

 

 

IMS Health, Inc., 12.50%,
3/01/18 (b)

 

 

3,760

 

 

4,399,200

 

Hotels, Restaurants & Leisure — 4.1%

 

 

 

 

 

 

 

Affinity Gaming LLC/Affinity
Gaming Finance Corp., 9.00%,
5/15/18 (b)

 

 

445

 

 

445,000

 

Caesars Entertainment Operating Co.,
Inc.:

 

 

 

 

 

 

 

11.25%, 6/01/17

 

 

1,800

 

 

1,912,500

 

10.00%, 12/15/18

 

 

6,052

 

 

4,085,100

 

Caesars Operating Escrow, LLC.,
8.50%, 2/15/20 (b)

 

 

675

 

 

672,469

 

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

 

 

510

 

 

507,450

 

Diamond Resorts Corp., 12.00%,
8/15/18

 

 

1,860

 

 

2,004,150

 

El Dorado Resorts LLC, 8.63%,
6/15/19 (b)

 

 

210

 

 

196,875

 

Enterprise Inns Plc, 6.50%,
12/06/18

 

GBP

501

 

 

589,916

 

Gategroup Finance Luxembourg
SA, 6.75%, 3/01/19

 

EUR

455

 

 

549,949

 

Little Traverse Bay Bands of
Odawa Indians, 9.00%,
8/31/20 (b)

 

USD

441

 

 

401,310

 


 

 

 

 

 

 

 

 

Corporate Bonds

 

Par
(000)

 

Value

 

Hotels, Restaurants & Leisure (concluded)

 

 

 

 

 

 

 

MGM Resorts International:

 

 

 

 

 

 

 

10.38%, 5/15/14

 

USD

310

 

$

348,750

 

4.25%, 4/15/15 (d)

 

 

1,235

 

 

1,221,106

 

11.13%, 11/15/17

 

 

2,210

 

 

2,475,200

 

Travelport LLC:

 

 

 

 

 

 

 

5.11%, 9/01/14 (f)

 

 

235

 

 

148,638

 

9.88%, 9/01/14

 

 

50

 

 

34,875

 

9.00%, 3/01/16

 

 

190

 

 

122,550

 

6.47%, 12/01/16 (b)(e)(f)

 

 

637

 

 

460,576

 

Tropicana Entertainment LLC,
9.63%, 12/15/14 (a)(h)

 

 

515

 

 

 

Wynn Las Vegas LLC, 5.38%,
3/15/22 (b)

 

 

950

 

 

920,312

 

 

 

 

 

 

 

17,096,726

 

Household Durables — 1.9%

 

 

 

 

 

 

 

Beazer Homes USA, Inc., 12.00%,
10/15/17

 

 

2,080

 

 

2,241,200

 

Jarden Corp., 7.50%, 1/15/20

 

EUR

455

 

 

572,735

 

Libbey Glass, Inc., 6.88%,
5/15/20 (b)

 

USD

390

 

 

390,975

 

Ryland Group, Inc., 6.63%,
5/01/20

 

 

525

 

 

527,625

 

Spie BondCo 3 SCA, 11.00%,
8/15/19

 

EUR

471

 

 

551,816

 

Standard Pacific Corp.:

 

 

 

 

 

 

 

10.75%, 9/15/16

 

USD

2,355

 

 

2,749,462

 

8.38%, 1/15/21

 

 

865

 

 

925,550

 

 

 

 

 

 

 

7,959,363

 

Household Products — 0.5%

 

 

 

 

 

 

 

Ontex IV SA, 7.50%, 4/15/18 (b)

 

EUR

220

 

 

259,789

 

Spectrum Brands Holdings, Inc.:

 

 

 

 

 

 

 

9.50%, 6/15/18

 

USD

560

 

 

618,800

 

9.50%, 6/15/18 (b)

 

 

910

 

 

1,005,550

 

 

 

 

 

 

 

1,884,139

 

Independent Power Producers & Energy Traders — 3.2%

 

 

 

 

 

 

 

The AES Corp., 7.38%, 7/01/21 (b)

 

 

425

 

 

459,000

 

Calpine Corp. (b):              

7.25%, 10/15/17

 

 

275

 

 

290,125

 

7.50%, 2/15/21

 

 

160

 

 

167,200

 

7.88%, 1/15/23

 

 

295

 

 

311,963

 

Energy Future Holdings Corp.,
10.00%, 1/15/20

 

 

2,950

 

 

3,134,375

 

Energy Future Intermediate Holding Co.
LLC:

 

 

 

 

 

 

 

10.00%, 12/01/20

 

 

4,181

 

 

4,505,027

 

11.75%, 3/01/22 (b)

 

 

2,210

 

 

2,254,200

 

Laredo Petroleum, Inc.:

 

 

 

 

 

 

 

9.50%, 2/15/19

 

 

790

 

 

876,900

 

7.38%, 5/01/22 (b)

 

 

660

 

 

674,850

 

QEP Resources, Inc., 5.38%,
10/01/22

 

 

513

 

 

501,457

 

 

 

 

 

 

 

13,175,097

 


 

 

 

 

 

BLACKROCK CORPORATE HIGH YIELD FUND VI, INC.

MAY 31, 2012

5




 

 

 

 

Consolidated Schedule of Investments(continued)

BlackRock Corporate High Yield Fund VI, Inc. (HYT)

(Percentages shown are based on Net Assets)


 

 

 

 

 

 

 

 

Corporate Bonds

 

Par
(000)

 

Value

 

Industrial Conglomerates — 2.6%

 

 

 

 

 

 

 

Sequa Corp. (b):

 

 

 

 

 

 

 

11.75%, 12/01/15

 

USD

3,810

 

$

4,043,362

 

13.50%, 12/01/15

 

 

6,236

 

 

6,618,074

 

 

 

 

 

 

 

10,661,436

 

Insurance — 1.2%

 

 

 

 

 

 

 

Alliant Holdings I, Inc., 11.00%,
5/01/15 (b)(i)

 

 

2,600

 

 

2,697,500

 

CNO Financial Group, Inc., 9.00%,
1/15/18 (b)

 

 

573

 

 

607,380

 

Genworth Financial, Inc.:

 

 

 

 

 

 

 

7.63%, 9/24/21

 

 

660

 

 

640,503

 

6.15%, 11/15/66 (f)

 

 

1,335

 

 

761,310

 

MPL 2 Acquisition Canco, Inc.,
9.88%, 8/15/18 (b)

 

 

395

 

 

339,700

 

 

 

 

 

 

 

5,046,393

 

IT Services — 2.3%

 

 

 

 

 

 

 

Alliance Data Systems Corp.,
6.38%, 4/01/20 (b)

 

 

560

 

 

557,200

 

Epicor Software Corp., 8.63%,
5/01/19

 

 

860

 

 

862,150

 

First Data Corp.:

 

 

 

 

 

 

 

7.38%, 6/15/19 (b)

 

 

2,340

 

 

2,340,000

 

8.88%, 8/15/20 (b)

 

 

830

 

 

886,025

 

8.25%, 1/15/21 (b)

 

 

935

 

 

906,950

 

12.63%, 1/15/21

 

 

2,540

 

 

2,393,950

 

SunGard Data Systems, Inc.:

 

 

 

 

 

 

 

7.38%, 11/15/18

 

 

840

 

 

854,700

 

7.63%, 11/15/20

 

 

930

 

 

953,250

 

 

 

 

 

 

 

9,754,225

 

Machinery — 1.1%

 

 

 

 

 

 

 

SPX Corp., 6.88%, 9/01/17

 

 

275

 

 

299,750

 

UR Financing Escrow Corp. (b):

 

 

 

 

 

 

 

5.75%, 7/15/18

 

 

398

 

 

404,965

 

7.38%, 5/15/20

 

 

675

 

 

691,875

 

7.63%, 4/15/22

 

 

3,169

 

 

3,240,303

 

 

 

 

 

 

 

4,636,893

 

Media — 13.7%

 

 

 

 

 

 

 

Affinion Group, Inc., 7.88%,
12/15/18

 

 

1,260

 

 

1,064,700

 

AMC Networks, Inc., 7.75%,
7/15/21 (b)

 

 

350

 

 

388,500

 

CCH II LLC, 13.50%, 11/30/16

 

 

2,116

 

 

2,370,352

 

CCO Holdings LLC:

 

 

 

 

 

 

 

7.38%, 6/01/20

 

 

410

 

 

438,700

 

6.50%, 4/30/21

 

 

785

 

 

802,662

 

Cengage Learning Acquisitions,
Inc., 11.50%, 4/15/20 (b)

 

 

1,835

 

 

1,830,412

 

Checkout Holding Corp., 10.69%,
11/15/15 (b)(c)

 

 

1,040

 

 

405,600

 

Cinemark USA, Inc., 8.63%,
6/15/19

 

 

390

 

 

424,125

 

Clear Channel Communications,
Inc., 9.00%, 3/01/21

 

 

845

 

 

726,700

 


 

 

 

 

 

 

 

 

Corporate Bonds

 

Par 
(000)

 

Value

 

Media (continued)

 

 

 

 

 

 

 

Clear Channel Worldwide Holdings, Inc.:

 

 

 

 

 

 

 

9.25%, 12/15/17

 

USD

2,323

 

$

2,485,610

 

7.63%, 3/15/20 (b)

 

 

3,068

 

 

2,929,940

 

Series B, 9.25%, 12/15/17

 

 

8,776

 

 

9,434,200

 

Cox Enterprises, Inc. (b):

 

 

 

 

 

 

 

Loan Close 2, 4.00%, 8/15/18

 

 

1,060

 

 

1,067,380

 

Loan Close 3, 4.00%, 8/15/18

 

 

1,212

 

 

1,220,322

 

Shares Loan, 4.00%, 8/15/18

 

 

1,250

 

 

1,258,581

 

CSC Holdings LLC, 8.50%, 4/15/14

 

 

550

 

 

605,688

 

DISH DBS Corp., 5.88%, 7/15/22 (b)

 

 

960

 

 

936,000

 

Gray Television, Inc., 10.50%,
6/29/15

 

 

525

 

 

540,750

 

Harron Communications LP, 9.13%,
4/01/20 (b)

 

 

500

 

 

523,750

 

Intelsat Luxemburg SA:

 

 

 

 

 

 

 

11.25%, 6/15/16

 

 

1,377

 

 

1,437,244

 

11.25%, 2/04/17

 

 

950

 

 

933,375

 

11.50%, 2/04/17 (e)

 

 

2,150

 

 

2,112,375

 

Interactive Data Corp., 10.25%,
8/01/18

 

 

2,080

 

 

2,303,600

 

The Interpublic Group of Cos., Inc.,
10.00%, 7/15/17

 

 

525

 

 

591,938

 

Kabel Deutschland Vertrieb und
Service GmbH & Co. KG, 6.50%,
6/29/18 (b)

 

EUR

530

 

 

681,559

 

Lamar Media Corp., 5.88%,
2/01/22 (b)

 

USD

220

 

 

221,375

 

Live Nation Entertainment, Inc.,
8.13%, 5/15/18 (b)

 

 

1,170

 

 

1,221,187

 

NAI Entertainment Holdings LLC,
8.25%, 12/15/17 (b)

 

 

1,015

 

 

1,106,350

 

Nielsen Finance LLC:

 

 

 

 

 

 

 

11.63%, 2/01/14

 

 

147

 

 

167,029

 

7.75%, 10/15/18

 

 

3,425

 

 

3,681,875

 

Odeon & UCI Finco Plc, 9.00%,
8/01/18 (b)

 

GBP

324

 

 

476,878

 

ProQuest LLC, 9.00%,
10/15/18 (b)

 

USD

775

 

 

666,500

 

Truven Health Analytics, Inc.,
10.63%, 6/01/20 (b)(g)

 

 

790

 

 

778,150

 

Unitymedia GmbH:

 

 

 

 

 

 

 

9.63%, 12/01/19

 

EUR

244

 

 

318,300

 

9.63%, 12/01/19 (b)

 

 

900

 

 

1,174,057

 

9.50%, 3/15/21

 

 

548

 

 

708,094

 

Unitymedia Hessen GmbH & Co. KG
(FKA UPC Germany GmbH):

 

 

 

 

 

 

 

8.13%, 12/01/17

 

 

120

 

 

155,799

 

8.13%, 12/01/17 (b)

 

USD

885

 

 

933,675

 

8.13%, 12/01/17 (b)

 

EUR

701

 

 

910,126

 

7.50%, 3/15/19

 

 

1,037

 

 

1,304,690

 


 

 

 

 

 

 

 

 

 

BLACKROCK CORPORATE HIGH YIELD FUND VI, INC.

MAY 31, 2012

6




 

 

 

 

Consolidated Schedule of Investments (continued)

BlackRock Corporate High Yield Fund VI, Inc. (HYT)

(Percentages shown are based on Net Assets)


 

 

 

 

 

 

 

 

Corporate Bonds

 

Par
(000)

 

Value

 

Media (concluded)

 

 

 

 

 

 

 

UPC Holding BV, 9.88%,
4/15/18 (b)

 

USD

640

 

$

691,200

 

UPCB Finance II Ltd.:

 

 

 

 

 

 

 

6.38%, 7/01/20 (b)

 

EUR

1,273

 

 

1,515,038

 

6.38%, 7/01/20

 

 

514

 

 

611,728

 

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

 

GBP

443

 

 

723,717

 

Ziggo Bond Co. BV, 8.00%,
5/15/18 (b)

 

EUR

610

 

 

807,064

 

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

 

 

1,026

 

 

1,332,082

 

 

 

 

 

 

 

57,018,977

 

Metals & Mining — 3.8%

 

 

 

 

 

 

 

Eco-Bat Finance Plc, 7.75%,
2/15/17

 

 

610

 

 

727,866

 

FMG Resources August 2006 Property
Ltd. (b):

 

 

 

 

 

 

 

6.88%, 2/01/18

 

USD

565

 

 

555,113

 

6.88%, 4/01/22

 

 

775

 

 

745,937

 

Global Brass and Copper, Inc.,
9.50%, 6/01/19 (b)(g)

 

 

460

 

 

464,600

 

Goldcorp, Inc., 2.00%, 8/01/14 (d)

 

 

1,650

 

 

1,850,062

 

Kaiser Aluminum Corp., 8.25%,
6/01/20 (b)

 

 

345

 

 

346,725

 

New Gold, Inc., 7.00%, 4/15/20 (b)

 

 

235

 

 

239,700

 

New World Resources NV, 7.88%,
5/01/18

 

EUR

1,055

 

 

1,203,409

 

Newmont Mining Corp., Series A,
1.25%, 7/15/14 (d)

 

USD

2,275

 

 

2,832,375

 

Novelis, Inc., 8.75%, 12/15/20

 

 

5,140

 

 

5,435,550

 

Schmolz + Bickenbach
Luxembourg SA, 9.88%,
5/15/19

 

EUR

490

 

 

581,650

 

Taseko Mines Ltd., 7.75%,
4/15/19

 

USD

650

 

 

617,500

 

Vedanta Resources Plc, 8.25%,
6/07/21 (b)

 

 

435

 

 

376,275

 

 

 

 

 

 

 

15,976,762

 

Multiline Retail — 1.7%

 

 

 

 

 

 

 

Dollar General Corp., 11.88%,
7/15/17 (e)(f)

 

 

6,753

 

 

7,225,778

 

Oil, Gas & Consumable Fuels — 11.3%

 

 

 

 

 

 

 

Alpha Appalachia Holdings, Inc.,
3.25%, 8/01/15 (d)

 

 

430

 

 

362,275

 

Alpha Natural Resources, Inc.:

 

 

 

 

 

 

 

6.00%, 6/01/19

 

 

205

 

 

183,475

 

6.25%, 6/01/21

 

 

690

 

 

614,100

 

Aurora USA Oil & Gas, Inc., 9.88%,
2/15/17 (b)

 

 

660

 

 

689,700

 

Berry Petroleum Co., 6.38%,
9/15/22

 

 

630

 

 

642,600

 

BreitBurn Energy Partners LP,
7.88%, 4/15/22 (b)

 

 

400

 

 

392,000

 


 

 

 

 

 

 

 

 

Corporate Bonds

 

Par
(000)

 

Value

 

Oil, Gas & Consumable Fuels (continued)

 

 

 

 

 

 

 

CCS, Inc., 11.00%, 11/15/15 (b)

 

USD

880

 

$

910,800

 

Chaparral Energy, Inc., 7.63%,
11/15/22 (b)

 

 

340

 

 

347,650

 

Chesapeake Energy Corp.:

 

 

 

 

 

 

 

6.63%, 8/15/20

 

 

295

 

 

277,300

 

6.88%, 11/15/20

 

 

275

 

 

260,563

 

6.13%, 2/15/21

 

 

940

 

 

883,600

 

Chesapeake Midstream Partners
LP, 6.13%, 7/15/22

 

 

425

 

 

403,750

 

Chesapeake Oilfield Operating
LLC, 6.63%, 11/15/19 (b)

 

 

10

 

 

8,650

 

Coffeyville Resources LLC, 9.00%,
4/01/15 (b)

 

 

179

 

 

190,635

 

Concho Resources, Inc.:

 

 

 

 

 

 

 

7.00%, 1/15/21

 

 

255

 

 

273,487

 

6.50%, 1/15/22

 

 

170

 

 

177,650

 

5.50%, 10/01/22

 

 

730

 

 

717,225

 

Consol Energy, Inc., 8.25%,
4/01/20

 

 

3,050

 

 

3,050,000

 

Continental Resources, Inc.,
7.13%, 4/01/21

 

 

575

 

 

632,500

 

Copano Energy LLC, 7.13%,
4/01/21

 

 

520

 

 

535,600

 

Crosstex Energy LP:

 

 

 

 

 

 

 

8.88%, 2/15/18

 

 

280

 

 

294,000

 

7.13%, 6/01/22 (b)

 

 

235

 

 

233,238

 

Crown Oil Partners IV LP, 15.00%,
3/07/15

 

 

920

 

 

919,839

 

Denbury Resources, Inc., 8.25%,
2/15/20

 

 

70

 

 

75,600

 

Energy XXI Gulf Coast, Inc.:

 

 

 

 

 

 

 

9.25%, 12/15/17

 

 

860

 

 

924,500

 

7.75%, 6/15/19

 

 

1,390

 

 

1,403,900

 

EV Energy Partners LP, 8.00%,
4/15/19

 

 

220

 

 

222,200

 

Everest Acquisition LLC/Everest
Acquisition Finance, Inc. (b):

 

 

 

 

 

 

 

6.88%, 5/01/19

 

 

610

 

 

625,250

 

9.38%, 5/01/20

 

 

465

 

 

476,625

 

Hilcorp Energy I LP, 7.63%,
4/15/21 (b)

 

 

1,165

 

 

1,217,425

 

Holly Energy Partners LP, 6.50%,
3/01/20 (b)

 

 

245

 

 

243,775

 

Kodiak Oil & Gas Corp., 8.13%,
12/01/19 (b)

 

 

650

 

 

669,500

 

Linn Energy LLC:

 

 

 

 

 

 

 

6.50%, 5/15/19 (b)

 

 

145

 

 

140,650

 

6.25%, 11/01/19 (b)

 

 

3,150

 

 

3,000,375

 

8.63%, 4/15/20

 

 

345

 

 

365,700

 

7.75%, 2/01/21

 

 

320

 

 

327,200

 

MarkWest Energy Partners LP:

 

 

 

 

 

 

 

6.75%, 11/01/20

 

 

80

 

 

85,000

 

6.25%, 6/15/22

 

 

125

 

 

128,125

 

Newfield Exploration Co., 6.88%,
2/01/20

 

 

1,205

 

 

1,277,300

 


 

 

 

 

 

 

 

 

 

BLACKROCK CORPORATE HIGH YIELD FUND VI, INC.

MAY 31, 2012

7




 

 

 

 

Consolidated Schedule of Investments (continued)

BlackRock Corporate High Yield Fund VI, Inc. (HYT)

(Percentages shown are based on Net Assets)


 

 

 

 

 

 

 

 

Corporate Bonds

 

Par
(000)

 

Value

 

Oil, Gas & Consumable Fuels (concluded)

 

 

 

 

 

 

 

Northern Oil and Gas, Inc., 8.00%,
6/01/20 (b)

 

USD

480

 

$

477,600

 

Oasis Petroleum, Inc.:

 

 

 

 

 

 

 

7.25%, 2/01/19

 

 

510

 

 

525,300

 

6.50%, 11/01/21

 

 

450

 

 

450,000

 

Offshore Group Investments Ltd.,
11.50%, 8/01/15 (b)

 

 

1,670

 

 

1,778,550

 

OGX Petroleo e Gas Participacoes SA (b):

 

 

 

 

 

 

 

8.50%, 6/01/18

 

 

6,395

 

 

6,155,187

 

8.38%, 4/01/22

 

 

1,085

 

 

1,028,037

 

PBF Holding Co. LLC, 8.25%,
2/15/20 (b)

 

 

460

 

 

441,600

 

PetroBakken Energy Ltd., 8.63%,
2/01/20 (b)

 

 

1,860

 

 

1,887,900

 

Petrohawk Energy Corp., 7.25%,
8/15/18

 

 

495

 

 

564,162

 

Petroleum Geo-Services ASA,
7.38%, 12/15/18 (b)

 

 

690

 

 

714,150

 

Pioneer Natural Resources Co.:

 

 

 

 

 

 

 

6.88%, 5/01/18

 

 

715

 

 

841,458

 

7.50%, 1/15/20

 

 

225

 

 

278,221

 

Plains Exploration & Production Co.:

 

 

 

 

 

 

 

6.63%, 5/01/21

 

 

910

 

 

896,350

 

6.75%, 2/01/22

 

 

85

 

 

84,150

 

Range Resources Corp.:

 

 

 

 

 

 

 

8.00%, 5/15/19

 

 

600

 

 

654,000

 

5.75%, 6/01/21

 

 

1,520

 

 

1,565,600

 

5.00%, 8/15/22

 

 

644

 

 

618,240

 

Samson Investment Co., 9.75%,
2/15/20 (b)

 

 

1,100

 

 

1,094,500

 

SandRidge Energy, Inc.:

 

 

 

 

 

 

 

7.50%, 3/15/21

 

 

395

 

 

383,150

 

8.13%, 10/15/22 (b)

 

 

395

 

 

389,075

 

SESI LLC:

 

 

 

 

 

 

 

6.38%, 5/01/19

 

 

505

 

 

530,250

 

7.13%, 12/15/21 (b)

 

 

360

 

 

392,400

 

SM Energy Co.:

 

 

 

 

 

 

 

6.63%, 2/15/19

 

 

205

 

 

211,150

 

6.50%, 11/15/21

 

 

405

 

 

414,112

 

Vanguard Natural Resources,
7.88%, 4/01/20

 

 

420

 

 

414,750

 

 

 

 

 

 

 

46,973,654

 

Paper & Forest Products — 1.5%

 

 

 

 

 

 

 

Ainsworth Lumber Co. Ltd.,
11.00%, 7/29/15 (b)(e)

 

 

1,927

 

 

1,561,192

 

Boise Paper Holdings LLC:

 

 

 

 

 

 

 

9.00%, 11/01/17

 

 

100

 

 

110,250

 

8.00%, 4/01/20

 

 

180

 

 

197,100

 

Clearwater Paper Corp.:

 

 

 

 

 

 

 

10.63%, 6/15/16

 

 

625

 

 

696,875

 

7.13%, 11/01/18

 

 

885

 

 

931,462

 

Longview Fibre Paper & Packaging,
Inc., 8.00%, 6/01/16 (b)

 

 

535

 

 

530,988

 


 

 

 

 

 

 

 

 

Corporate Bonds

 

Par
(000)

 

Value

 

Paper & Forest Products (concluded)

 

 

 

 

 

 

 

NewPage Corp., 11.38%,
12/31/14 (a)(h)

 

USD

3,350

 

$

2,077,000

 

 

 

 

 

 

 

6,104,867

 

Pharmaceuticals — 0.9%

 

 

 

 

 

 

 

Capsugel Finance Co. SCA:

 

 

 

 

 

 

 

9.88%, 8/01/19 (b)

 

EUR

300

 

 

389,498

 

9.88%, 8/01/19

 

 

105

 

 

136,324

 

Pharmaceutical Product
Development, Inc., 9.50%,
12/01/19 (b)

 

USD

650

 

 

692,250

 

Spectrum Brands, Inc., 6.75%,
3/15/20 (b)

 

 

400

 

 

405,000

 

Valeant Pharmaceuticals International (b):

 

 

 

 

 

 

 

6.50%, 7/15/16

 

 

1,310

 

 

1,336,200

 

6.75%, 8/15/21

 

 

880

 

 

808,500

 

 

 

 

 

 

 

3,767,772

 

Professional Services — 0.4%

 

 

 

 

 

 

 

FTI Consulting, Inc., 6.75%,
10/01/20

 

 

1,450

 

 

1,526,125

 

Real Estate Investment Trusts (REITs) — 0.7%

 

 

 

 

 

 

 

Felcor Lodging LP, 6.75%,
6/01/19

 

 

2,170

 

 

2,175,425

 

The Rouse Co. LP, 6.75%,
11/09/15

 

 

805

 

 

841,225

 

 

 

 

 

 

 

3,016,650

 

Real Estate Management & Development — 2.5%

 

 

 

 

 

 

 

CBRE Services, Inc., 6.63%,
10/15/20

 

 

520

 

 

553,800

 

Forest City Enterprises, Inc.,
7.63%, 6/01/15

 

 

2,300

 

 

2,277,000

 

Realogy Corp.:

 

 

 

 

 

 

 

11.50%, 4/15/17

 

 

605

 

 

535,425

 

12.00%, 4/15/17

 

 

155

 

 

137,175

 

7.88%, 2/15/19 (b)

 

 

3,645

 

 

3,462,750

 

7.63%, 1/15/20 (b)

 

 

785

 

 

806,588

 

9.00%, 1/15/20 (b)

 

 

560

 

 

560,000

 

Shea Homes LP, 8.63%, 5/15/19

 

 

1,885

 

 

1,965,112

 

 

 

 

 

 

 

10,297,850

 

Road & Rail — 1.4%

 

 

 

 

 

 

 

Avis Budget Car Rental LLC,
8.25%, 1/15/19

 

 

200

 

 

207,000

 

Florida East Coast Railway Corp.,
8.13%, 2/01/17

 

 

650

 

 

666,250

 

The Hertz Corp.:

 

 

 

 

 

 

 

7.50%, 10/15/18

 

 

855

 

 

890,269

 

6.75%, 4/15/19 (b)

 

 

450

 

 

460,125

 

7.38%, 1/15/21

 

 

640

 

 

671,200

 

Hertz Holdings Netherlands BV:

 

 

 

 

 

 

 

8.50%, 7/31/15

 

EUR

295

 

 

388,477

 

8.50%, 7/31/15 (b)

 

 

2,080

 

 

2,739,096

 

 

 

 

 

 

 

6,022,417

 


 

 

 

 

 

 

 

 

 

BLACKROCK CORPORATE HIGH YIELD FUND VI, INC.

MAY 31, 2012

8




 

 

 

 

Consolidated Schedule of Investments (continued)

BlackRock Corporate High Yield Fund VI, Inc. (HYT)

(Percentages shown are based on Net Assets)


 

 

 

 

 

 

 

 

Corporate Bonds

 

Par
(000)

 

Value

 

Semiconductors & Semiconductor Equipment — 0.2%

 

 

 

 

 

 

 

Spansion LLC, 7.88%, 11/15/17

 

USD

890

 

$

854,400

 

 

 

 

 

 

 

 

 

Software — 1.0%

 

 

 

 

 

 

 

Audatex North America, Inc.,
6.75%, 6/15/18 (b)

 

 

810

 

 

834,300

 

Lawson Software, Inc., 9.38%,
4/01/19 (b)

 

 

2,760

 

 

2,842,800

 

Sophia LP, 9.75%, 1/15/19 (b)

 

 

666

 

 

690,975

 

 

 

 

 

 

 

4,368,075

 

Specialty Retail — 2.9%

 

 

 

 

 

 

 

Asbury Automotive Group, Inc.,
8.38%, 11/15/20

 

 

565

 

 

607,375

 

Claire’s Stores, Inc., 9.00%,
3/15/19 (b)

 

 

985

 

 

985,000

 

Hillman Group, Inc., 10.88%,
6/01/18

 

 

830

 

 

865,275

 

House of Fraser Funding Plc:

 

 

 

 

 

 

 

8.88%, 8/15/18 (b)

 

GBP

439

 

 

588,631

 

8.88%, 8/15/18

 

 

222

 

 

297,667

 

Limited Brands, Inc.:

 

 

 

 

 

 

 

8.50%, 6/15/19

 

USD

1,255

 

 

1,476,194

 

5.63%, 2/15/22

 

 

250

 

 

251,875

 

Penske Automotive Group, Inc.,
7.75%, 12/15/16

 

 

1,670

 

 

1,728,450

 

Phones4u Finance Plc, 9.50%,
4/01/18 (b)

 

GBP

570

 

 

764,281

 

QVC, Inc. (b):

 

 

 

 

 

 

 

7.13%, 4/15/17

 

USD

355

 

 

376,300

 

7.50%, 10/01/19

 

 

970

 

 

1,054,875

 

7.38%, 10/15/20

 

 

455

 

 

495,950

 

Sally Holdings LLC:

 

 

 

 

 

 

 

6.88%, 11/15/19 (b)

 

 

840

 

 

894,600

 

5.75%, 6/01/22

 

 

670

 

 

677,537

 

Sonic Automotive, Inc., 9.00%,
3/15/18

 

 

580

 

 

626,400

 

Toys ‘R’ US-Delaware, Inc., 7.38%,
9/01/16 (b)

 

 

195

 

 

196,463

 

 

 

 

 

 

 

11,886,873

 

Textiles, Apparel & Luxury Goods — 0.2%

 

 

 

 

 

 

 

Levi Strauss & Co., 6.88%,
5/01/22 (b)

 

 

675

 

 

669,938

 

Trading Companies & Distributors — 0.2%

 

 

 

 

 

 

 

Aircastle, Ltd., 6.75%, 4/15/17 (b)

 

 

720

 

 

712,800

 

Russel Metals, Inc., 6.00%,
4/19/22 (b)

 

CAD

275

 

 

271,499

 

 

 

 

 

 

 

984,299

 

Transportation Infrastructure — 0.2%

 

 

 

 

 

 

 

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

 

USD

665

 

 

678,300

 

Wireless Telecommunication Services — 4.9%

 

 

 

 

 

 

 

Cricket Communications, Inc.:

 

 

 

 

 

 

 

7.75%, 5/15/16

 

 

830

 

 

875,650

 

7.75%, 10/15/20

 

 

120

 

 

109,800

 

Digicel Group Ltd. (b):

 

 

 

 

 

 

 

8.88%, 1/15/15

 

 

1,120

 

 

1,103,200

 


 

 

 

 

 

 

 

 

Corporate Bonds

 

Par
(000)

 

Value

 

Wireless Telecommunication Services (concluded)

 

 

 

 

 

 

 

Digicel Group Ltd. (b) (concluded):

 

 

 

 

 

 

 

9.13%, 1/15/15

 

USD

2,864

 

$

2,821,040

 

8.25%, 9/01/17

 

 

1,720

 

 

1,728,600

 

10.50%, 4/15/18

 

 

800

 

 

816,000

 

Intelsat Jackson Holdings SA,
7.25%, 10/15/20 (b)

 

 

1,415

 

 

1,404,387

 

iPCS, Inc., 2.59%, 5/01/13 (f)

 

 

875

 

 

857,500

 

Matterhorn Mobile Holdings SA,
8.25%, 2/15/20

 

EUR

296

 

 

370,579

 

MetroPCS Wireless, Inc., 6.63%,
11/15/20

 

USD

1,210

 

 

1,170,675

 

NII Capital Corp., 7.63%, 4/01/21

 

 

979

 

 

824,808

 

Sprint Capital Corp., 6.88%,
11/15/28

 

 

3,420

 

 

2,539,350

 

Sprint Nextel Corp. (b):

 

 

 

 

 

 

 

9.00%, 11/15/18

 

 

3,000

 

 

3,247,500

 

7.00%, 3/01/20

 

 

2,670

 

 

2,690,025

 

 

 

 

 

 

 

20,559,114

 

Total Corporate Bonds – 105.1%

 

 

 

 

 

437,562,232

 


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Floating Rate Loan Interests (f)

 

 

 

 

 

 

 

Airlines — 0.2%

 

 

 

 

 

 

 

Delta Air Lines, Inc., Credit - New
Term Loan B, 5.50%, 4/20/17

 

 

655

 

 

650,769

 

Auto Components — 0.6%

 

 

 

 

 

 

 

Federal-Mogul Corp., Term Loan B,
2.18%, 12/29/14

 

 

1,745

 

 

1,640,716

 

Schaeffler AG, Term Loan C2,
6.00%, 1/27/17

 

 

765

 

 

761,175

 

 

 

 

 

 

 

2,401,891

 

Building Products — 0.2%

 

 

 

 

 

 

 

Goodman Global, Inc., Term Loan
(Second Lien), 9.00%,
10/30/17

 

 

764

 

 

770,127

 

Capital Markets — 0.4%

 

 

 

 

 

 

 

Nuveen Investments, Inc.:

 

 

 

 

 

 

 

Incremental Term Loan,
7.25%, 5/13/17

 

 

1,045

 

 

1,042,387

 

New Second Lien Term Loan,
8.25%, 2/28/19

 

 

640

 

 

643,802

 

 

 

 

 

 

 

1,686,189

 

Chemicals — 0.6%

 

 

 

 

 

 

 

Ineos US Finance LLC, 6 year Term
Loan, 6.50%, 5/04/18

 

 

1,780

 

 

1,743,439

 

PQ Corp. (FKA Niagara Acquisition,
Inc.), Term Loan B, 3.99%,
7/30/14

 

 

325

 

 

311,513

 

Styron Sarl LLC, Term Loan B,
6.00% - 6.75%, 8/02/17

 

 

596

 

 

531,327

 

 

 

 

 

 

 

2,586,279

 


 

 

 

 

 

BLACKROCK CORPORATE HIGH YIELD FUND VI, INC.

MAY 31, 2012

9




 

 

 

 

Consolidated Schedule of Investments (continued)

BlackRock Corporate High Yield Fund VI, Inc. (HYT)

(Percentages shown are based on Net Assets)


 

 

 

 

 

 

 

 

Floating Rate Loan Interests (f)

 

Par
(000)

 

Value

 

Commercial Services & Supplies — 0.8%

 

 

 

 

 

 

 

AWAS Finance Luxembourg Sarl,
Term Loan B, 5.25%, 6/10/16

 

USD

759

 

$

754,982

 

Delos Aircraft, Inc., Term Loan 2,
4.75%, 4/12/16

 

 

975

 

 

973,781

 

Volume Services America, Inc.,
Term Loan B, 10.50% - 11.75%,
9/16/16

 

 

1,576

 

 

1,566,812

 

 

 

 

 

 

 

3,295,575

 

Communications Equipment — 0.1%

 

 

 

 

 

 

 

Avaya, Inc., Term Loan B1, 3.22%,
10/24/14

 

 

394

 

 

370,939

 

Construction & Engineering — 0.8%

 

 

 

 

 

 

 

Safway Services LLC, Mezzanine
Loan, 15.63%, 12/16/17

 

 

3,250

 

 

3,250,000

 

Construction Materials — 0.4%

 

 

 

 

 

 

 

HD Supply, Inc., Senior Debt B,
7.25%, 10/12/17

 

 

1,730

 

 

1,736,920

 

Consumer Finance — 1.7%

 

 

 

 

 

 

 

Springleaf Finance Corp.(FKA
AGFS Funding Co.), Term Loan,
5.50%, 5/10/17

 

 

7,825

 

 

7,215,276

 

Diversified Consumer Services — 0.1%

 

 

 

 

 

 

 

Laureate Education, Inc., Extended
Term Loan, 5.25%, 8/15/18

 

 

224

 

 

215,036

 

ServiceMaster Co.:

 

 

 

 

 

 

 

Delayed Draw Term Loan,
2.74%, 7/24/14

 

 

13

 

 

12,630

 

Term Loan, 2.74% - 2.99%,
7/24/14

 

 

130

 

 

126,831

 

 

 

 

 

 

 

354,497

 

Diversified Telecommunication Services — 0.5%

 

 

 

 

 

 

 

Level 3 Financing, Inc.:

 

 

 

 

 

 

 

Term Loan B3, 5.75%,
8/31/18

 

 

1,300

 

 

1,287,702

 

Tranche A Term Loan, 2.49% -
2.72%, 3/13/14

 

 

775

 

 

754,013

 

 

 

 

 

 

 

2,041,715

 

Electronic Equipment, Instruments & Components — 0.1%

 

 

 

 

 

 

 

CDW LLC (FKA CDW Corp.),
Extended Term Loan, 4.00%,
7/14/17

 

 

428

 

 

409,548

 

Energy Equipment & Services — 2.2%

 

 

 

 

 

 

 

Dynegy Midwest Generation LLC,
Coal Co. Term Loan, 9.25%,
8/04/16

 

 

3,076

 

 

3,135,825

 

Dynegy Power LLC, Gas Co. Term
Loan, 9.25%, 8/04/16

 

 

5,630

 

 

5,801,308

 

Tervita Corp., Incremental Term
Loan, 6.50%, 10/17/14

 

 

424

 

 

421,818

 

 

 

 

 

 

 

9,358,951

 


 

 

 

 

 

 

 

 

Floating Rate Loan Interests (f)

 

Par
(000)

 

Value

 

Food & Staples Retailing — 0.1%

 

 

 

 

 

 

 

US Foods, Inc. (FKA US
Foodservice, Inc.), Term Loan B,
2.74%, 7/03/14

 

USD

259

 

$

250,128

 

Food Products — 0.3%

 

 

 

 

 

 

 

Advance Pierre Foods, Term Loan
(Second Lien), 11.25%,
9/29/17

 

 

1,300

 

 

1,306,903

 

Health Care Equipment & Supplies — 0.5%

 

 

 

 

 

 

 

Bausch & Lomb, Inc., Term Loan B,
5.25%, 5/17/19

 

 

740

 

 

726,650

 

Hupah Finance Inc., Term Loan B,
6.25%, 1/21/19

 

 

1,180

 

 

1,183,694

 

 

 

 

 

 

 

1,910,344

 

Health Care Providers & Services — 0.7%

 

 

 

 

 

 

 

Harden Healthcare LLC:

 

 

 

 

 

 

 

Term Loan A, 8.50%, 3/02/15

 

 

533

 

 

521,879

 

Tranche A Additional Term
Loan, 7.75%, 3/02/15

 

 

688

 

 

674,051

 

inVentiv Health, Inc., Combined
Term Loan B, 6.50%, 8/04/16

 

 

1,147

 

 

1,073,900

 

Wolverine Healthcare, Term
Loan B, 6.75%, 5/12/17

 

 

575

 

 

565,656

 

 

 

 

 

 

 

2,835,486

 

Hotels, Restaurants & Leisure — 1.3%

 

 

 

 

 

 

 

Caesars Entertainment Operating Co.,
Inc.:

 

 

 

 

 

 

 

Extended Term Loan B6,
5.49%, 1/26/18

 

 

315

 

 

277,250

 

Incremental Term Loan B4,
9.50%, 10/31/16

 

 

753

 

 

757,916

 

Term Loan B1, 3.24%,
1/28/15

 

 

844

 

 

770,281

 

Term Loan B2, 3.24%,
1/28/15

 

 

478

 

 

436,548

 

Term Loan B3, 3.24% - 3.47%,
1/28/15

 

 

1,511

 

 

1,378,462

 

OSI Restaurant Partners LLC:

 

 

 

 

 

 

 

Revolver, 2.54% - 2.72%,
6/14/13

 

 

15

 

 

14,468

 

Term Loan B, 2.56%, 6/14/14

 

 

150

 

 

146,287

 

Sabre, Inc., Non Extended Initial
Term Loan, 2.24%, 9/30/14

 

 

155

 

 

147,283

 

Station Casinos, Inc., Term Loan
B1, 3.24%, 6/17/16

 

 

1,348

 

 

1,266,728

 

Travelport LLC (FKA Travelport, Inc.):

 

 

 

 

 

 

 

Extended Tranche A Term
Loan, 6.47%, 9/28/12

 

 

293

 

 

114,404

 

Extended Tranche B Term
Loan, 13.97%, 12/01/16

 

 

928

 

 

92,823

 

 

 

 

 

 

 

5,402,450

 


 

 

 

 

 

 

 

 

 

BLACKROCK CORPORATE HIGH YIELD FUND VI, INC.

MAY 31, 2012

10


 

 

 

 

Consolidated Schedule of Investments (continued)

BlackRock Corporate High Yield Fund VI, Inc. (HYT)

(Percentages shown are based on Net Assets)


 

 

 

 

 

 

 

 

Floating Rate Loan Interests (f)

 

Par
(000)

 

Value

 

Industrial Conglomerates — 0.2%

 

 

 

 

 

 

 

Sequa Corp.:

 

 

 

 

 

 

 

Incremental Term Loan,
6.25%, 12/03/14

 

USD

678

 

$

676,604

 

Term Loan, 3.72%, 12/03/14

 

 

235

 

 

230,411

 

 

 

 

 

 

 

907,015

 

IT Services — 0.3%

 

 

 

 

 

 

 

Ceridian Corp., Term Loan, 3.24%,
11/10/14

 

 

179

 

 

169,221

 

First Data Corp., Extended Term
Loan B, 4.24%, 3/23/18

 

 

1,220

 

 

1,102,136

 

 

 

 

 

 

 

1,271,357

 

Leisure Equipment & Products — 0.2%

 

 

 

 

 

 

 

Eastman Kodak Co., DIP Term
Loan B, 8.50%, 7/19/13

 

 

1,013

 

 

1,012,306

 

Machinery — 0.2%

 

 

 

 

 

 

 

Rexnord Corp., Term Loan B,
5.00%, 4/02/18

 

 

918

 

 

912,194

 

Media — 5.5%

 

 

 

 

 

 

 

Affinion Group, Inc., Tranche B
Term Loan, 5.00%, 7/16/15

 

 

70

 

 

64,249

 

Cengage Learning Acquisitions, Inc.:

 

 

 

 

 

 

 

Term Loan, 2.49%, 7/03/14

 

 

498

 

 

449,526

 

Tranche 1 Incremental Term
Loan, 7.50%, 7/03/14

 

 

2,647

 

 

2,532,742

 

Cequel Communications LLC, Term
Loan B, 4.00%, 2/14/19

 

 

740

 

 

720,760

 

Clear Channel Communications:

 

 

 

 

 

 

 

Term Loan B, 3.89%, 1/28/16

 

 

3,273

 

 

2,545,623

 

Term Loan C, 3.89%, 1/28/16

 

 

598

 

 

462,063

 

EMI Music Publishing Ltd., Term
Loan B, 5.50%, 11/14/17

 

 

865

 

 

859,594

 

HMH Publishing Co. Ltd., Term
Loan, 6.49%, 6/12/14

 

 

1,414

 

 

784,115

 

Intelsat Jackson Holdings SA (FKA
Intelsat Jackson Holdings Ltd.),
Tranche B Term Loan, 5.25%,
4/02/18

 

 

11,187

 

 

11,086,764

 

Interactive Data Corp., Term Loan
B, 4.50%, 2/12/18

 

 

635

 

 

623,406

 

Newsday LLC, Fixed Rate Term
Loan, 10.50%, 8/01/13

 

 

2,450

 

 

2,497,481

 

Univision Communications, Inc.,
Extended First Lien Term Loan,
4.49%, 3/31/17

 

 

520

 

 

476,517

 

 

 

 

 

 

 

23,102,840

 

Metals & Mining — 0.1%

 

 

 

 

 

 

 

Constellium Holding Co. BV, Term
Loan B, 9.25%, 5/22/18

 

 

660

 

 

643,500

 

Multiline Retail — 0.4%

 

 

 

 

 

 

 

HEMA Holding BV, Mezzanine,
8.90%, 7/05/17 EUR

 

 

1,710

 

 

1,776,010

 


 

 

 

 

 

 

 

 

Floating Rate Loan Interests (f)

 

Par
(000)

 

Value

 

Oil, Gas & Consumable Fuels — 1.3%

 

 

 

 

 

 

 

Chesapeake Energy Corp.,
Unsecured Term Loan, 8.50%,
12/01/17 USD

 

 

3,615

 

$

3,548,123

 

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

 

 

1,694

 

 

1,694,382

 

 

 

 

 

 

 

5,242,505

 

Paper & Forest Products — 0.5%

 

 

 

 

 

 

 

NewPage Corp., DIP Term Loan,
8.00%, 3/07/13

 

 

950

 

 

957,524

 

Verso Paper Finance Holdings LLC,
Term Loan, 6.72% - 7.47%,
2/01/13

 

 

2,274

 

 

1,137,207

 

 

 

 

 

 

 

2,094,731

 

Pharmaceuticals — 0.5%

 

 

 

 

 

 

 

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

 

 

1,481

 

 

1,432,369

 

Pharmaceutical Product
Development, Inc., Term Loan B,
6.25%, 12/05/18

 

 

648

 

 

648,491

 

 

 

 

 

 

 

2,080,860

 

Real Estate Investment Trusts (REITs) — 0.7%

 

 

 

 

 

 

 

iStar Financial, Inc., Term Loan A1,
5.00%, 6/28/13

 

 

2,794

 

 

2,781,434

 

Real Estate Management & Development — 0.4%

 

 

 

 

 

 

 

Realogy Corp.:

 

 

 

 

 

 

 

Extended Synthetic Letter of
Credit Loan, 4.49%,
10/10/16

 

 

166

 

 

151,301

 

Extended Term Loan, 4.49%,
10/10/16

 

 

1,173

 

 

1,069,154

 

Stockbridge SBE Holdings LLC,
Term Loan B, 13.00%, 5/02/17

 

 

285

 

 

280,725

 

 

 

 

 

 

 

1,501,180

 

Semiconductors & Semiconductor Equipment — 0.0%

 

 

 

 

 

 

 

NXP B.V., Term Loan A-2, 5.50%,
3/03/17

 

 

105

 

 

103,101

 

Software — 0.5%

 

 

 

 

 

 

 

Lawson Software, Inc., Term
Loan B, 6.25%, 4/05/18

 

 

1,905

 

 

1,901,266

 

Magic Newco LLC, Second Lien
Term Loan, 12.00%, 12/06/19

 

 

375

 

 

362,186

 

 

 

 

 

 

 

2,263,452

 

Specialty Retail — 0.1%

 

 

 

 

 

 

 

Claire’s Stores, Inc., Term Loan B,
2.99% - 3.22%, 5/29/14

 

 

601

 

 

558,624

 

Textiles, Apparel & Luxury Goods — 0.4%

 

 

 

 

 

 

 

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

 

 

1,750

 

 

1,700,422

 


 

 

 

 

 

 

 

 

 

BLACKROCK CORPORATE HIGH YIELD FUND VI, INC.

MAY 31, 2012

11




 

 

 

 

Consolidated Schedule of Investments (continued)

BlackRock Corporate High Yield Fund VI, Inc. (HYT)

(Percentages shown are based on Net Assets)


 

 

 

 

 

 

 

 

Floating Rate Loan Interests (f)

 

Par
(000)

 

Value

 

Wireless Telecommunication Services — 1.1%

 

 

 

 

 

 

 

Crown Castle International Corp.,
Term Loan B, 4.00%, 1/31/19

 

USD

324

 

$

319,325

 

Vodafone Americas Finance 2,
Inc., Term Loan B, 6.25%,
7/11/16 (e)

 

 

4,022

 

 

4,082,203

 

 

 

 

 

 

 

4,401,528

 

Total Floating Rate Loan Interests – 24.0%

 

 

 

 

 

100,187,046

 


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other Interests (j)

 

Benefecial
Interest
(000
)

 

 

 

 

Chemicals — 0.0%

 

 

 

 

 

 

 

Wellman Holdings, Inc., Litigation
Trust Certificate

 

 

4,870

 

 

49

 

Hotels, Restaurants & Leisure — 0.0%

 

 

 

 

 

 

 

Buffets, Inc. (a)

 

 

950

 

 

9

 

Media — 0.0%

 

 

 

 

 

 

 

Adelphia Escrow (a)

 

 

1,300

 

 

13

 

Adelphia Recovery Trust (a)

 

 

1,630

 

 

163

 

 

 

 

 

 

 

176

 

Total Other Interests – 0.0%

 

 

 

 

 

234

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Preferred Securities

 

Shares

 

 

 

 

Preferred Stocks

 

 

 

 

 

 

 

Auto Components — 0.3%

 

 

 

 

 

 

 

Dana Holding Corp., 4.00% (b)(d)

 

 

12,760

 

 

1,461,020

 

Diversified Financial Services — 1.3%

 

 

 

 

 

 

 

Ally Financial, Inc., 7.00% (b)

 

 

6,235

 

 

5,346,123

 

Thrifts & Mortgage Finance — 0.1%

 

 

 

 

 

 

 

Fannie Mae, Series O, 7.00% (a)(f)

 

 

40,000

 

 

86,000

 

Freddie Mac, Series Z, 8.38% (a)(f)

 

 

110,157

 

 

185,064

 

 

 

 

 

 

 

271,064

 

Total Preferred Stocks – 1.7%

 

 

 

 

 

7,078,207

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trust Preferreds

 

 

 

 

 

 

 

Diversified Financial Services — 1.0%

 

 

 

 

 

 

 

GMAC Capital Trust I, Series 2,
8.13%, 2/15/40 (f)

 

 

125,090

 

 

2,855,770

 


 

 

 

 

 

 

 

 

Preferred Securities

 

Shares

 

Value

 

Trust Preferreds

 

 

 

 

 

 

 

Diversified Financial Services (concluded)

 

 

 

 

 

 

 

RBS Capital Funding Trust VII,
6.08% (a)(k)

 

 

93,400

 

$

1,274,910

 

Total Trust Preferreds – 1.0%

 

 

 

 

 

4,130,680

 

Total Preferred Securities – 2.7%

 

 

 

 

 

11,208,887

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Warrants (l)

 

 

 

 

 

 

 

Health Care Providers & Services — 0.0%

 

 

 

 

 

 

 

HealthSouth Corp.
(Expires 1/16/ 14)

 

 

54,577

 

 

1

 

Hotels, Restaurants & Leisure — 0.0%

 

 

 

 

 

 

 

Buffets Restaurants Holdings, Inc.
(Expires 4/29/14)

 

 

802

 

 

 

Media — 0.1%

 

 

 

 

 

 

 

Cumulus Media, Inc.
(Issued/Exercisable 9/16/11,
0.01 Share for 1 Warrant,
Expires 6/03/30, Strike Price
$2.88)

 

 

67,691

 

 

397,928

 

New Vision Holdings LLC (Expires
9/30/14)

 

 

26,189

 

 

 

 

 

 

 

 

 

397,928

 

Software — 0.0%

 

 

 

 

 

 

 

Bankruptcy Management Solutions, Inc.
(Expires 9/29/17)

 

 

525

 

 

 

HMH Holdings/EduMedia
(Issued/Exercisable 3/09/10, 19
Shares for 1 Warrant, Expires
3/09/17, Strike Price $12.26)

 

 

22,578

 

 

 

 

 

 

 

 

 

 

Total Warrants – 0.1%

 

 

 

 

 

397,929

 

Total Long-Term Investments
(Cost – $592,283,663) – 140.7%

 

 

 

 

 

586,096,537

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short-Term Securities

 

 

 

 

 

 

 

BlackRock Liquidity Funds,
TempFund, Institutional Class,
0.15% (m)(n)

 

 

1,189,706

 

 

1,189,706

 

Total Short-Term Securities
(Cost – $1,189,706) – 0.3%

 

 

 

 

 

1,189,706

 

 

 

 

 

 

 

 

 

 


 

 

 

 

 

 

 

 

 

BLACKROCK CORPORATE HIGH YIELD FUND VI, INC.

MAY 31, 2012

12




 

 

 

 

Consolidated Schedule of Investments (continued)

BlackRock Corporate High Yield Fund VI, Inc. (HYT)

(Percentages shown are based on Net Assets)


 

 

 

 

 

 

 

 

Options Purchased

 

Contracts

 

Value

 

Exchange-Traded Put Options — 0.1%

 

 

 

 

 

 

 

SPDR S&P 500 ETF Trust, Strike
Price USD 132.00, Expires
6/16/12

 

 

1,200

 

$

348,600

 

Total Options Purchased
(Cost – $464,429) – 0.1%

 

 

 

 

 

348,600

 

Total Investments Before Options Written
(Cost – $593,937,798*) – 141.1%

 

 

 

 

 

587,634,843

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options Written

 

 

 

 

 

 

 

Exchange-Traded Put Options — (0.0)%

 

 

 

 

 

 

 

SPDR S&P 500 ETF Trust, Strike
Price USD 122.00, Expires
6/16/12

 

 

1,200

 

 

(46,800

)

 

 

 

 

 

 

 

 

Options Written

 

Notional
Value
(000
)

 

 

 

 

Over-the-Counter Credit Default Put Swaptions — (0.0)%

 

 

 

 

 

 

 

Sold credit default protection on Dow
Jones CDX North America High
Yield Index Series 18, Strike Price
USD 92, Expires 6/20/12, Broker
Credit Suisse International (o)

 

USD

1,755

(p)

 

(16,017

)

Total Options Written
(Premiums Received – $142,693) – (0.0)%

 

 

 

 

 

(62,817

)

Total Investments, Net of Options Written – 141.1%

 

 

 

 

 

587,572,026

 

Liabilities in Excess of Other Assets – (41.1)%

 

 

 

 

 

(171,272,442

)

Net Assets – 100.0%

 

 

 

 

$

416,299,584

 

 

 

 

 

 

 

 

 


 

 

*

As of May 31, 2012, gross unrealized appreciation and gross unrealized depreciation based on cost for federal income tax purposes were as follows:


 

 

 

 

 

 

 

 

Tax cost

 

 

 

 

$

594,774,256

 

Gross unrealized appreciation

 

 

 

 

$

22,622,346

 

Gross unrealized depreciation

 

 

 

 

 

(29,761,759

)

Net unrealized depreciation

 

 

 

 

$

(7,139,413

)


 

 

(a)

Non-income producing security.

 

 

(b)

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

 

 

(c)

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

 

 

(d)

Convertible security.

 

 

(e)

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

 

 

(f)

Variable rate security. Rate shown is as of report date.

 

 

(g)

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


 

 

 

 

 

 

 

 

 

 

Counterparty

 

Value

 

Unrealized
Appreciation
(Depreciation)

 

 

Goldman Sachs & Co.

 

$

590,208

 

$

2,843

 

 

JPMorgan Securities, Inc.

 

$

778,150

 

$

(6,676

)


 

 

(h)

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

 

 

(i)

All or a portion of security has been pledged as collateral in connection with swaps.

 

 

(j)

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

 

 

(k)

Security is perpetual in nature and has no stated maturity date.

 

 

(l)

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


 

 

 

 

 

 

 

 

 

BLACKROCK CORPORATE HIGH YIELD FUND VI, INC.

MAY 31, 2012

13




 

 

 

 

Consolidated Schedule of Investments (continued)

BlackRock Corporate High Yield Fund VI, Inc. (HYT)

 


 

 

(m)

Investments in companies considered to be an affiliate of the Fund during the period, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:


 

 

 

 

 

 

 

 

 

 

 

 

 

 

Affiliate

 

Shares
Held at
August 31,
2011

 

Net
Activity

 

Shares
Held at
May 31,
2012

 

Income

 

BlackRock
Liquidity
Funds,
TempFund,
Institutional
Class

 

 

941,235

 

 

248,471

 

 

1,189,706

 

$

791

 


 

 

(n)

Represents the current yield as of report date.

 

 

(o)

Not rated using Standard & Poor’s (S&P’s) rating of the underlying securities.

 

 

(p)

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

 

 

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


 

Portfolio Abbreviations

To simplify the listings of portfolio holdings in the Schedule of Investments, the names and descriptions of many of the securities have been abbreviated according to the following list:

 

 

AUD

Australian Dollar

CAD

Canadian Dollar

DIP

Debtor-In-Possession

EBITDA

Earnings Before Interest, Taxes, Depreciation and Amortization

ETF

Exchange-Traded Fund

EUR

Euro

FKA

Formerly Known As

GBP

British Pound

SPDR

Standard and Poor’s Depositary Receipts

USD

US Dollar


 

 

 

 

 

 

 

 

 

BLACKROCK CORPORATE HIGH YIELD FUND VI, INC.

MAY 31, 2012

14




 

 

 

 

Consolidated Schedule of Investments (continued)

BlackRock Corporate High Yield Fund VI, Inc. (HYT)


 

 

Financial futures contracts sold as of May 31, 2012 were as follows:


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contracts

 

Issue

 

Exchange

 

Expiration

 

Notional
Value

 

Unrealized
Appreciation

 

149

 

S&P 500 E-Mini Index

 

Chicago Mercantile

 

June 2012

 

$

9,753,540

 

$

154,636

 


 

 

Foreign currency exchange contracts as of May 31, 2012 were as follows:


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Currency Purchased

 

Currency Sold

 

Counterparty

 

Settlement
Date

 

Unrealized
Appreciation
(Depreciation)

 

GBP

74,000

 

USD

115,660

 

 

Royal Bank of Scotland Plc

 

 

6/01/12

 

$

(1,611

)

USD

115,766

 

AUD

114,000

 

 

Deutsche Bank AG

 

 

7/18/12

 

 

5,155

 

USD

5,031,929

 

CAD

5,025,000

 

 

Goldman Sachs & Co.

 

 

7/18/12

 

 

171,745

 

USD

277,998

 

CAD

275,000

 

 

UBS AG

 

 

7/18/12

 

 

12,018

 

USD

5,945,097

 

GBP

3,725,500

 

 

Goldman Sachs & Co.

 

 

7/18/12

 

 

204,507

 

USD

115,627

 

GBP

74,000

 

 

Royal Bank of Scotland Plc

 

 

7/18/12

 

 

1,601

 

EUR

600,000

 

USD

756,599

 

 

Citibank NA

 

 

7/25/12

 

 

(14,462

)

EUR

1,686,000

 

USD

2,202,140

 

 

UBS AG

 

 

7/25/12

 

 

(116,734

)

USD

33,358,939

 

EUR

27,551,000

 

 

Citibank NA

 

 

7/25/12

 

 

2,281,231

 

USD

596,114

 

EUR

461,000

 

 

UBS AG

 

 

7/25/12

 

 

25,905

 

Total

 

 

 

 

 

 

 

 

 

 

 

$

2,569,355

 


 

 

Credit default swaps on single-name issues - buy protection outstanding as of May 31, 2012 were as follows:


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Issuer

 

Pay
Fixed
Rate

 

Counterparty

 

Expiration
Date

 

Notional
Amount
(000)

 

Unrealized
Appreciation
(Depreciation)

 

MGM Resorts
International

 

5.00%

 

Deutsche Bank AG

 

6/20/15

 

$

160

 

$

(8,312

)

MGM Resorts
International

 

5.00%

 

Deutsche Bank AG

 

6/20/15

 

$

135

 

 

(8,194

)

MGM Resorts
International

 

5.00%

 

Deutsche Bank AG

 

6/20/15

 

$

260

 

 

(12,687

)

MGM Resorts
International

 

5.00%

 

Deutsche Bank AG

 

6/20/15

 

$

140

 

 

(3,742

)

MGM Resorts
International

 

5.00%

 

Deutsche Bank AG

 

6/20/15

 

$

135

 

 

(4,532

)

Republic of Hungary

 

1.00%

 

Deutsche Bank AG

 

12/20/15

 

$

470

 

 

36,307

 

Realogy Corp.

 

5.00%

 

Goldman Sachs International

 

9/20/16

 

$

225

 

 

(16,967

)

iStar Financial, Inc.

 

5.00%

 

Deutsche Bank AG

 

12/20/16

 

$

375

 

 

(33,164

)

Israel (State of)

 

1.00%

 

Deutsche Bank AG

 

3/20/17

 

$

350

 

 

(2,753

)

Israel Government
Bond

 

1.00%

 

Deutsche Bank AG

 

3/20/17

 

$

1,050

 

 

(8,953

)

Total

 

 

 

 

 

 

 

 

 

 

$

(62,997

)


 

 

 

 

 

 

 

 

 

BLACKROCK CORPORATE HIGH YIELD FUND VI, INC.

MAY 31, 2012

15




 

 

 

 

Consolidated Schedule of Investments (continued)

BlackRock Corporate High Yield Fund VI, Inc. (HYT)


 

 

Credit default swaps on single-name issues - sold protection outstanding as of May 31, 2012 were as follows:


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Issuer

 

Receive
Fixed
Rate

 

Counterparty

 

Expiration
Date

 

Issuer
Credit
Rating1

 

Notional
Amount
(000)2

 

Unrealized
Appreciation
(Depreciation)

 

Air Lease Corp.

 

5.00%

 

Goldman Sachs International

 

2/14/13

 

Not Rated

 

$

800

 

$

18,973

 

CIT Group, Inc.

 

5.00%

 

Deutsche Bank AG

 

9/20/15

 

BB-

 

$

5,000

 

 

544,566

 

ARAMARK Corp.

 

5.00%

 

Goldman Sachs International

 

3/20/16

 

B

 

$

750

 

 

33,537

 

ARAMARK Corp.

 

5.00%

 

Goldman Sachs International

 

6/20/16

 

B

 

$

475

 

 

19,963

 

ARAMARK Corp.

 

5.00%

 

Goldman Sachs International

 

6/20/16

 

B

 

$

475

 

 

22,774

 

ARAMARK Corp.

 

5.00%

 

Credit Suisse Securities (USA) LLC

 

9/20/16

 

B

 

$

200

 

 

14,635

 

ARAMARK Corp.

 

5.00%

 

Goldman Sachs International

 

9/20/16

 

B

 

$

450

 

 

17,684

 

ARAMARK Corp.

 

5.00%

 

Goldman Sachs International

 

9/20/16

 

B

 

$

200

 

 

13,936

 

Bausch & Lomb, Inc.

 

5.00%

 

Credit Suisse Securities (USA) LLC

 

3/20/17

 

B

 

$

165

 

 

10,624

 

ARAMARK Corp.

 

5.00%

 

Deutsche Bank AG

 

3/20/17

 

B

 

$

305

 

 

4,908

 

Crown Castle International Corp.

 

7.25%

 

Deutsche Bank AG

 

3/20/17

 

B-

 

$

720

 

 

3,325

 

Ford Motor Co.

 

5.00%

 

Deutsche Bank AG

 

3/20/17

 

BB+

 

$

2,200

 

 

140,595

 

Goodyear Tire & Rubber Co.

 

5.00%

 

Deutsche Bank AG

 

6/20/17

 

B+

 

$

480

 

 

(386

)

Goodyear Tire & Rubber Co.

 

5.00%

 

Goldman Sachs International

 

6/20/17

 

B+

 

$

500

 

 

(6,390

)

CCO Holdings LLC

 

8.00%

 

Deutsche Bank AG

 

9/20/17

 

BB-

 

$

2,400

 

 

95,037

 

Level 3 Communications, Inc.

 

5.00%

 

Goldman Sachs International

 

6/20/19

 

CCC

 

$

1,600

 

 

(24,622

)

Total

 

 

 

 

 

 

 

 

 

 

 

 

$

909,159

 


 

 

1

Using S&P’s ratings.

 

 

2

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


 

 

Credit default swaps on traded indexes - sold protection outstanding as of May 31, 2012 were as follows:


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Index

 

Receive
Fixed
Rate

 

Counterparty

 

Expiration
Date

 

Credit
Rating3

 

Notional
Amount
(000)4

 

Unrealized
Depreciation

 

Dow Jones CDX North America High Yield Index Series 18

 

5.00%

 

Credit Suisse Securities (USA) LLC

 

6/20/17

 

Not Rated

 

$

2,125

 

$

(25,014)

 

Dow Jones CDX North America High Yield Index Series 18

 

5.00%

 

Credit Suisse Securities (USA)LLC

 

6/20/17

 

Not Rated

 

$

1,060

 

 

(5,839)

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

$

(30,853)

 


 

 

3

Using S&P’s ratings of the underlying securities.

 

 

4

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


 

 

 

 

 

 

 

 

 

BLACKROCK CORPORATE HIGH YIELD FUND VI, INC.

MAY 31, 2012

16




 

 

 

 

Consolidated Schedule of Investments (continued)

BlackRock Corporate High Yield Fund VI, Inc. (HYT)


 

 

 

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

 

 

 

 

Level 1 — unadjusted price quotations in active markets/exchanges for identical assets and liabilities

 

 

 

 

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

 

 

 

 

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

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

The following tables summarize the inputs used as of May 31, 2012 in determining the fair valuation of the Fund’s investments and derivative financial instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Valuation Inputs

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

Long-Term

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

Asset-Backed
Securities

 

 

 

$

1,777,140

 

 

 

$

1,777,140

 

Common
Stocks

 

$

16,901,488

 

 

10,739,066

 

$

7,322,515

 

 

34,963,069

 

Corporate
Bonds

 

 

 

 

432,694,800

 

 

4,867,432

 

 

437,562,232

 

Floating Rate
Loan Interests…

 

 

 

 

85,945,751

 

 

14,241,295

 

 

100,187,046

 

Other Interests

 

 

163

 

 

 

 

71

 

 

234

 

Preferred
Securities

 

 

4,401,744

 

 

6,807,143

 

 

 

 

11,208,887

 

Warrants

 

 

 

 

397,928

 

 

1

 

 

397,929

 

Short-Term
Securities

 

 

1,189,706

 

 

 

 

 

 

1,189,706

 

Total

 

$

22,493,101

 

$

538,361,828

 

$

26,431,314

 

$

587,286,243

 


 

 

 

 

 

 

 

 

 

BLACKROCK CORPORATE HIGH YIELD FUND VI, INC.

MAY 31, 2012

17




 

 

 

 

Consolidated Schedule of Investments (continued)

BlackRock Corporate High Yield Fund VI, Inc. (HYT)


 

 

 

 

 

 

 

 

 

 

 

 

 

 

Valuation Inputs

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Derivative Financial Instruments1

 

 

 

 

 

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

Credit contracts

 

 

 

$

314,963

 

$

661,901

 

$

976,864

 

Foreign currency
exchange
contracts

 

 

 

 

2,702,162

 

 

 

 

2,702,162

 

Equity contracts

 

$

503,236

 

 

 

 

 

 

503,236

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

Credit contracts

 

 

 

 

(177,572

)

 

 

 

(177,572

)

Foreign currency
exchange
contracts

 

 

 

 

(132,807

)

 

 

 

(132,807

)

Equity contracts

 

 

(46,800

)

 

 

 

 

 

(46,800

)

Total

 

$

456,436

 

$

2,706,746

 

$

661,901

 

$

3,825,083

 


 

 

1

Derivative financial instruments are swaps, financial futures contracts, foreign currency exchange contracts and options. Swaps, financial futures contracts and foreign currency exchange contracts are valued at the unrealized appreciation/depreciation on the instrument and options are shown at value.

Certain of the Fund’s assets and liabilities are held at carrying amount, which approximates fair value for financial reporting purposes. As of May 31, 2012, such assets and liabilities are categorized within the disclosure hierarchy as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Valuation Inputs

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash

 

$

273,000

 

 

 

 

 

$

273,000

 

Cash pledged
as collateral
for financial
futures
contracts

 

 

353,000

 

 

 

 

 

 

353,000

 

Cash pledged
as collateral
for swaps

 

 

400,000

 

 

 

 

 

 

400,000

 

Foreign currency

 

 

29,876

 

 

29,876

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash held
as collateral
for swaps

 

 

(600,000

)

 

 

 

 

 

(600,000

)

Loan payable

 

 

 

$

(183,000,000

)

 

 

 

 

(183,000,000

)

Total

 

$

455,876

 

$

(183,000,000

)

 

 

$

(182,544,124

)

There were no transfers between Level 1 and Level 2 during the period ended May 31, 2012.

 

 

 

 

 

 

 

 

 

BLACKROCK CORPORATE HIGH YIELD FUND VI, INC.

MAY 31, 2012

18




 

 

 

 

Consolidated Schedule of Investments (continued)

BlackRock Corporate High Yield Fund VI, Inc. (HYT)

The following table summarizes the valuation techniques used and unobservable inputs developed by the BlackRock Global Valuation Methodologies Committee to determine the fair value of certain of the Fund’s Level 3 investments as of May 31, 2012:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Value

 

Valuation Techniques

 

Unobservable
Inputs1

 

Range of
Unobservable Inputs

 

Weighted Average of
Unobservable Inputs2

Assets:

 

 

 

 

 

 

 

 

 

 

 

Common Stocks

 

$

2,856,358

 

Market Comparable Companies

 

EBITDA Multiple

 

6.3x

 

6.3x

Corporate Bonds

 

 

3,546,283

 

Market Comparable Companies

 

Yield

 

9.67%

 

9.67%

Floating Rate Loan Interests

 

 

1,137,207

 

Estimated Final Distribution

 

Probable Outcome

 

50%

 

50%

Total3

 

$

7,539,848

 

 

 

 

 

 

 

 

1 A change to the unobservable input may result in a significant change to the value of the investment as follows:

 

 

 

 

 

Unobservable Input

 

Impact to Value if Input Increases

 

Impact to Value if Input Decreases

EBITDA Multiple

 

Increase

 

Decrease

Yield

 

Decrease

 

Increase

Probable Outcome

 

Increase

 

Decrease


 

 

2

Unobservable inputs are weighted based on the value of the investments included in the range.

 

 

3

Does not include Level 3 investments with values derived utilizing prices from prior transactions or third party pricing information without adjustment for which such inputs are unobservable. See above valuation input table for values of such Level 3 investments. A significant change in the unobservable inputs could result in a significantly lower or higher value in such Level 3 investments.

The following table is a reconciliation of Level 3 investments for which significant unobservable inputs were used to determine fair value:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assets:

 

Common
Stocks

 

Corporate
Bonds

 

Floating Rate
Loan
Interests

 

Other Interests

 

Preferred
Securities

 

Warrants

 

Total

 

Opening balance, as of August 31, 2011

 

$

3,689,799

 

$

6,541,570

 

$

14,112,734

 

$

3,081,895

 

$

503,497

 

$

382,599

 

$

28,312,094

 

Transfers into Level 31

 

 

 

 

 

 

3,968,614

 

 

 

 

 

 

 

 

3,968,614

 

Transfers out of Level 31

 

 

 

 

 

 

(2,529,625

)

 

 

 

 

 

(382,323

)

 

(2,911,948

)

Accrued discounts/premium

 

 

 

 

4,760

 

 

138,524

 

 

 

 

 

 

 

 

143,284

 

Net realized gain (loss)

 

 

9,199

 

 

(3,657,646

)

 

19,272

 

 

 

 

 

 

 

 

(3,629,175

)

Net change in unrealized appreciation/depreciation2

 

 

3,286,545

 

 

3,671,020

 

 

(1,301,697

)

 

(4,560,489

)

 

(503,497

)

 

(275

)

 

591,607

 

Purchases

 

 

348,609

 

 

988,881

 

 

1,404,883

 

 

1,521,623

 

 

 

 

 

 

4,263,996

 

Sales

 

 

(11,637

)

 

(2,681,153

)

 

(1,571,410

)

 

(42,958

)

 

 

 

 

 

(4,307,158

)

Closing balance, as of May 31, 2012

 

$

7,322,515

 

$

4,867,432

 

$

14,241,295

 

$

71

 

 

 

$

1

 

$

26,431,314

 


 

 

1

Transfers into and transfers out of Level 3 represent the beginning of the reporting period value.

 

 

2

The change in unrealized appreciation/depreciation on investments still held as of May 31, 2012 was $(2,624,744).


 

 

 

 

 

 

 

 

 

BLACKROCK CORPORATE HIGH YIELD FUND VI, INC.

MAY 31, 2012

19




 

 

 

 

Consolidated Schedule of Investments (concluded)

BlackRock Corporate High Yield Fund VI, Inc. (HYT)

The following table is a reconciliation of Level 3 derivative financial instruments for which significant unobservable inputs were used to determine fair value:

 

 

 

 

 

 

 

Credit
Contracts

 

Assets:

 

 

 

 

Opening balance, as of August 31, 2011

 

 

 

Transfers into Level 31

 

 

 

Transfers out of Level 31

 

 

 

Accrued discounts/premium

 

$

(80,697

)

Net realized gain (loss)

 

 

 

Net change in unrealized appreciation/depreciation3

 

 

661,901

 

Purchases

 

 

 

Issues4

 

 

432,194

 

Sales

 

 

 

Settlements5

 

 

(351,497

)

Closing balance, as of May 31, 2012

 

$

661,901

 


 

 

3

The change in unrealized appreciation/depreciation on derivative financial instruments still held as of May 31, 2012 was $661,901.

 

 

4

Issues represent upfront cash received on certain derivative financial instruments.

 

 

5

Settlements represent periodic contractual cash flows and/or cash flows to terminate certain derivative financial instruments.

A reconciliation of Level 3 investments and derivative financial instruments is presented when the Fund had a significant amount of Level 3 investments and derivative financial instruments at the beginning and/or end of the period in relation to net assets.

 

 

 

 

 

 

 

 

 

BLACKROCK CORPORATE HIGH YIELD FUND VI, INC.

MAY 31, 2012

20


Item 2 –

Controls and Procedures

 

 

2(a) –

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

 

 

2(b) –

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

 

 

Item 3 –

Exhibits

 

 

 

Certifications – Attached hereto

 

 

 

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

 

 

 

BlackRock Corporate High Yield Fund VI, Inc.

 

 

  By: /s/ John M. Perlowski  
    John M. Perlowski
    Chief Executive Officer (principal executive officer) of
    BlackRock Corporate High Yield Fund VI, Inc.
   
  Date: July 25, 2012
   
  Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
   
  By: /s/ John M. Perlowski  
    John M. Perlowski
    Chief Executive Officer (principal executive officer) of
    BlackRock Corporate High Yield Fund VI, Inc.
   
  Date: July 25, 2012
   
  By: /s/ Neal J. Andrews  
    Neal J. Andrews
    Chief Financial Officer (principal financial officer) of
    BlackRock Corporate High Yield Fund VI, Inc.
     
  Date: July 25, 2012