FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person *   GSO / Blackstone Debt Funds Management LLC 2. Date of Event Requiring Statement (Month/Day/Year) 05/24/2010 3. Issuer Name and Ticker or Trading Symbol Blackstone / GSO Senior Floating Rate Term Fund [BSL] (Last) (First) (Middle) C/O GSO CAPITAL PARTNERS LP, 280 PARK AVENUE, 11TH FLOOR 4. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner _____ Officer (give title below) __X__ Other (specify below) Invst Adviser & its affiliates 5. If Amendment, Date Original Filed(Month/Day/Year) 05/24/2010 (Street) NEW YORK, NY 10017 6. Individual or Joint/Group Filing(Check Applicable Line) ___ Form filed by One Reporting Person _X_ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Beneficially Owned

1.Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5) Common Shares 5,235.6 I See Footnotes (1) (2) (3) (4)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.			SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
GSO / Blackstone Debt Funds Management LLC C/O GSO CAPITAL PARTNERS LP 280 PARK AVENUE, 11TH FLOOR NEW YORK, NY 10017	Â	Â	Â	Invst Adviser & its affiliates
GSO CAPITAL PARTNERS LP 280 PARK AVENUE 11TH FLOOR NEW YORK, NY 10017	Â	Â	Â	Invst Adviser & its affiliates
Goodman Bennett J 280 PARK AVENUE 11TH FLOOR NEW YORK, NY 10017	Â	Â	Â	Invst Adviser & its affiliates
Smith J Albert III 280 PARK AVENUE 11TH FLOOR NEW YORK, NY 10017	Â	Â	Â	Invst Adviser & its affiliates
Ostrover Douglas I 280 PARK AVENUE 11TH FLOOR NEW YORK, NY 10017	Â	Â	Â	Invst Adviser & its affiliates
GSO Advisor Holdings L.L.C. C/O THE BLACKSTONE GROUP 345 PARK AVENUE NEW YORK, NY 10154	Â	Â	Â	Invst Adviser & its affiliates
Blackstone Holdings I L.P. C/O THE BLACKSTONE GROUP 345 PARK AVENUE NEW YORK, NY 10154	Â	Â	Â	Invst Adviser & its affiliates
Blackstone Holdings I/II GP Inc C/O THE BLACKSTONE GROUP 345 PARK AVENUE NEW YORK, NY 10154	Â	Â	Â	Invst Adviser & its affiliates
Blackstone Group L.P. 345 PARK AVENUE NEW YORK, NY 10154	Â	Â	Â	Invst Adviser & its affiliates
Blackstone Group Management L.L.C. 345 PARK AVENUE NEW YORK, NY 10154	Â	Â	Â	Invst Adviser & its affiliates

Signatures

/s/ Marisa Beeney		05/24/2010
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	GSO Capital Partners LP is the sole member of GSO / Blackstone Debt Funds Management LLC. GSO Advisor Holdings L.L.C. is the general partner of GSO Capital Partners LP. Blackstone Holdings I L.P. is the sole member of GSO Advisor Holdings L.L.C. Blackstone Holdings I/II GP Inc. is the general partner of Blackstone Holdings I L.P. The Blackstone Group L.P. is the controlling shareholder of Blackstone Holdings I/II GP Inc. Blackstone Group Management L.L.C. is the general partner of The Blackstone Group L.P. Stephen A. Schwarzman is the founding member of Blackstone Group Management L.L.C.
(2)	In addition, each of Bennett J. Goodman, J. Albert Smith III and Douglas I. Ostrover may have shared investment control with respect to the Common Shares.
(3)	Information with respect to each of the Reporting Persons is given solely by such Reporting Persons, and no Reporting Person has responsibility for the accuracy or completeness of information supplied by another Reporting Person.
(4)	Due to the limitations of the electronic filing system, Mr. Stephen A. Schwarzman is filing a separate Form 3.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, See Instruction 6 for procedure.

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