| N-2 | 12 Months Ended |
| Feb. 29, 2024 |
| Cover [Abstract] | |
| Entity Central Index Key | 0001059386 |
| Amendment Flag | false |
| Document Type | N-CSR |
| Entity Registrant Name | Invesco Senior Income Trust |
| General Description of Registrant [Abstract] | |
| Investment Objectives and Practices [Text Block] | Recent Changes The following information is a summary of certain changes since the end of the Trust’s most recent fiscal year. This information may not reflect all of the changes that have occurred since you purchased the Trust. Approval of Managed Distribution Plan During the Trust’s most recently completed fiscal year, on September 19, 2023, the Board of the Trust (“Board”) approved an increase to the monthly dividend paid under the Trust’s Managed Distribution Plan (the “Plan”) whereby the Trust will pay its monthly dividend to common shareholders at a stated fixed monthly distribution amount of $0.043 per share, effective October 1, 2023. Prior to this change, on January 19, 2023, the Board had approved an increase to the monthly dividend paid under the Trust’s Managed Distribution whereby the Trust paid a monthly dividend to common shareholders at a stated fixed monthly distribution amount of $0.039 per share. The Plan is intended to provide shareholders with a consistent, but not guaranteed, periodic cash payment from the Trust, regardless of when or whether income is earned or capital gains are realized. If investment income is not sufficient to cover the Trust’s intended monthly distribution, the Trust will distribute long-term capital gains and/or return of capital in order to maintain its managed distribution level under the Plan. The Plan is subject to periodic review by the Board, and the Board may amend the terms of the Plan or terminate the Plan at any time without prior notice to the Trust’s shareholders. The amendment or termination of the Plan could have an adverse effect on the market price of the Trust’s common shares. Please see “Managed Distribution Plan Disclosures” for more information regarding the Plan. Changes to Investment Policies and Risks During the Trust’s most recent fiscal year, the Trust’s investment policies were clarified to reflect that the Trust may invest a portion of its assets indirectly through one or more wholly-owned subsidiaries organized as a Delaware limited liability company that has elected to be treated as a corporation for U.S. federal income tax purposes (each, a “Blocker Subsidiary,” and together, the “Blocker Subsidiaries”). The Trust may employ a Blocker Subsidiary if it believes it is desirable to do so to comply with the requirements for qualification as a regulated investment company under the Internal Revenue Code of 1986, as amended, such as in connection with equity interests in operating partnerships that may be received as a result of loan restructurings. In connection with the investment policy clarification above, the Trust’s “Subsidiary Risk” was amended to include the following: For domestic subsidiaries, investments through a wholly-owned domestic entity that is taxable as a corporation for U.S. federal income tax purposes may incur entity-level income taxes on their earnings, which ultimately may reduce the return to shareholders. In addition, the following risk was added during the Trust’s most recently completely fiscal year. Litigation Risk Except as noted above, during the Trust’s most recent fiscal year, there were no material changes in the Trust’s investment objectives or policies that have not been approved by shareholders or in the principal risk factors associated with investment in the Trust. Investment Objective The Trust’s investment objective is to provide a high level of current income, consistent with preservation of capital. The investment objective is fundamental and may not be changed without approval of a majority of the Trust’s outstanding voting securities, as defined in the Investment Company Act of 1940, as amended (the “1940 Act”). Investment Policies of the Trust The Trust invests primarily in floating or variable rate senior loans (“Senior Loans”) to corporations, partnerships and other entities (“Borrowers”) which operate in a variety of industries and geographical regions (including domestic and foreign entities). Senior Loans hold (or in the judgment of the Adviser, hold) a senior position in the capital structure of U.S. and foreign corporations, partnerships or other business entities that, under normal circumstances, allow them to have priority of claim ahead of (or at least as high as) other obligations of a borrower in the event of liquidation. Senior Loans generally are arranged through private negotiations between a Borrower and several financial institutions (“Lenders”) represented in each case by one or more such Lenders acting as agent (“Agent”) of the several Lenders. The Trust may invest in participations (“Participations”) in Senior Loans, may purchase assignments (“Assignments”) of portions of Senior Loans from third parties and may act as one of the group of Lenders originating a Senior Loan (an “Original Lender”). In normal market conditions, at least 80% of the Trust’s total assets are invested in Senior Loans (either as an Original Lender or as a purchaser of an Assignment or Participation) of domestic Borrowers or foreign Borrowers. In complying with this 80% investment requirement, the Trust may invest in derivatives and other instruments that have economic characteristics similar to the Trust’s direct investments that are counted toward the 80% investment requirement. The Trust may invest in the Senior Loans of non-U.S. Loans may also include up to 5% of its total assets in senior debt obligations that are in the form of notes in addition to investments in Loan Agreements, Participations and Assignments. The Trust is not subject to any restrictions with respect to the maturity of Senior Loans held in its portfolio. The Trust’s assets invested in Senior Loans generally consist of Senior Loans with stated maturities of between three and ten years, and with rates of interest which are redetermined either daily, monthly, quarterly or semi-annually; provided, however, that the Trust may invest up to 5% of its total assets in Senior Loans which permit the Borrower to select an interest rate redetermination period of up to one year. The actual remaining maturity of the Trust’s portfolio invested in Senior Loans may vary substantially from the average stated maturity of the Senior Loans held in the Trust’s portfolio. In normal market conditions, the Trust may invest up to 20% of its total assets in any combination of (1) equity securities (including common stocks, preferred stocks, rights, warrants, and securities convertible into common stock), (2) junior debt securities or securities with a lien on collateral lower than a senior claim on collateral, (3) high quality short-term debt securities, (4) credit-linked deposits and (5) Treasury Inflation Protected Securities (“U.S. TIPS”) and other inflation-indexed bonds issued by the U.S. government, its agencies or instrumentalities. Warrants, equity securities and junior debt securities will not be treated as Senior Loans and thus assets invested in such securities will not count toward the 80% of the Trust’s total assets that normally will be invested in Senior Loans. The Trust may invest up to 20% of its total assets in Senior Loans which are not secured by any collateral. The Trust may invest a substantial portion of its assets in Senior Loans, the Borrowers with respect to which have outstanding debt securities which are rated below investment grade by a nationally recognized statistical rating organization (“NRSRO”) or are unrated but determined by the Adviser to be of comparable quality to such securities. Debt securities rated below investment grade or unrated but of comparable quality commonly are referred to as “junk bonds.” The Trust will invest only in those Senior Loans with respect to which the Borrower, in the opinion of the Adviser, demonstrates one or more of the following characteristics: sufficient cash flow to service debt; adequate liquidity; successful operating history; strong competitive position; experienced management; and, with respect to collateralized Senior Loans, collateral coverage that equals or exceeds the outstanding principal amount of the Senior Loan. In addition, the Adviser will consider, and may rely in part, on the analyses performed by the Agent and other Lenders, including such persons’ determinations with respect to collateral securing a Senior Loan. The Trust may invest up to 100% of its assets in Participations. The Trust will only acquire Participations if the Lender selling the Participation, and any other persons positioned between the Trust and the Lender, (i) at the time of investment has outstanding debt or deposit obligations rated investment grade (BBB or A-3 P-3 † The Trust may also purchase Assignments from Lenders. The Trust will never act as the Agent or principal negotiator or administrator of a Senior Loan. The Trust will purchase an Assignment or act as a Lender with respect to a syndicated Senior Loan only where the Agent with respect to such Senior Loan at the time of investment has outstanding debt or deposit obligations rated investment grade (BBB or A-3 P-3 A Lender may have certain obligations pursuant to a Loan Agreement, which may include the obligation to make additional loans in certain circumstances. The Trust currently intends to reserve against such contingent obligations by segregating cash, liquid securities and/or liquid Senior Loans sufficient to cover such commitments. The Trust will not purchase interests in Senior Loans that would require the Trust to make any such additional loans if such additional loan commitments in the aggregate would exceed 20% of the Trust’s total assets or would cause the Trust to fail to meet 1940 Act diversification requirements. Structured Products and Derivatives The Trust may invest in credit default swaps (“CDS”) to enhance the yield on its portfolio or to increase income available for distributions or for other non-hedging the yield on its portfolio to increase income available for distribution or for other non-hedging The Trust may use other derivative instruments (including futures, swaps and forward currency contracts) for a variety of purposes, including hedging, risk management, portfolio management or to earn income. The Trust can use currency futures and currency swaps to hedge its exposure to foreign currencies and engage to a greater extent in foreign currency transactions either on a spot basis (i.e., for prompt delivery and settlement at the rate prevailing in the currency exchange market at the time) or through forward foreign currency contracts to mitigate the risk of foreign currency exposure. Spot contracts allow for prompt delivery and settlement at the rate prevailing in the currency exchange market at the time. A forward foreign currency contract is an agreement between parties to exchange a specified amount of currency at a specified future time at a specified rate. The Trust can use forward foreign currency contracts to hedge against adverse movements in the foreign currencies in which portfolio securities are denominated. Direct Loan Origination Co-Investment co-invest co-invest Blocker Subsidiaries regulated investment company under the Internal Revenue Code of 1986, as amended, such as in connection with equity interests in operating partnerships that may be received as a result of loan restructurings. Rule 144A Securities and Other Exempt Securities Risk Preferred Shares Borrowing and Leverage Investment Process ∎ ∎ ∎ ∎ ∎ ∎ There can be no assurance that the portfolio managers’ analysis will identify all of the factors that may impair the value of a Senior Loan or other investment. |
| Risk Factors [Table Text Block] | Principal Risks of Investing in the Trust As with any fund investment, loss of money is a risk of investing. The risks associated with an investment in the Trust can increase during times of significant market volatility. The principal risks of investing in the Trust are: Market Risk Market Disruption Risks Related to Armed Conflict Debt Securities Risk additional expenses. Changes in an issuer’s financial strength, the market’s perception of such strength or in the credit rating of the issuer or the security may affect the value of debt securities. The credit analysis applied to the Trust’s debt securities may fail to anticipate such changes, which could result in buying a debt security at an inopportune time or failing to sell a debt security in advance of a price decline or other credit event. Senior Loans and Other Loans Risk In addition to the risks typically associated with debt securities, such as credit and interest rate risk, senior loans are also subject to the risk that a court could subordinate a senior loan, which typically holds a senior position in the capital structure of a borrower, to presently existing or future indebtedness or take other action detrimental to the holders of senior loans. Loans usually have mandatory and optional prepayment provisions. If a borrower prepays a loan, the Trust will have to reinvest the proceeds in other loans or financial assets that may pay lower rates of return. Loans are subject to the risk that the value of the collateral, if any, securing a loan may decline, be insufficient to meet the obligations of the borrower, or be difficult to liquidate. In the event of a default, the Trust may have difficulty collecting on any collateral and would not have the ability to collect on any collateral for an uncollateralized loan. In addition, the lenders’ security interest or their enforcement of their security under the loan agreement may be found by a court to be invalid or the collateral maybe used to pay other outstanding obligations of the borrower. The Trust’s access to collateral, if any, may be limited by bankruptcy, other insolvency laws, or by the type of loan the Trust has purchased. As a result, a collateralized loan may not be fully collateralized and can decline significantly in value. Loan investments are often issued in connection with highly leveraged transactions. Such transactions include leveraged buyout loans, leveraged recapitalization loans, and other types of acquisition financing. These obligations are subject to greater credit risks than other investments including a greater possibility that the borrower may default or enter bankruptcy. Highly leveraged loans also may be less liquid than other loans. If the Trust voluntarily or involuntarily sold those types of loans, it might not receive the full value it expected.. Newly originated loans (including reissuances and restructured loans) may possess lower levels of credit document protections than has historically been the case. Accordingly, in the event of default the Trust may experience lower levels of recoveries than has historically been the norm. Due to restrictions on transfers in loan agreements and the nature of the private syndication of loans including, for example, the lack of publicly-available information, some loans are not as easily purchased or sold as publicly-traded securities. Some loans are illiquid, which may make it difficult for the Trust to value them or dispose of them at an acceptable price when it wants to. The market price of investments in floating rate loans is expected to be less affected by changes in interest rates than fixed-rate investments because floating rate loans pay a floating rate of interest that will fluctuate as market interest rates do and therefore should more closely track market movements in interest rates. Direct investments in loans and, to a lesser degree, investments in participation interests in or assignments of loans may be limited. A limited availability of loans could reduce the amount of attractive investments for the Trust. If market demand for loans increases, the interest paid by loans that the Trust holds may decrease. Due to the possible limited availability of loans in the market at a given time in which the Trust can invest, there is a risk that the Trust may not be able to invest a sufficient amount in loans at all times to meet its 80% asset investment requirement (including borrowings for investment purposes). Compared to securities and to certain other types of financial assets, purchases and sales of loans take relatively longer to settle. This extended settlement process can (i) increase the counterparty credit risk borne by the Trust; (ii) leave the Trust unable to timely vote, or otherwise act with respect to, loans it has agreed to purchase; (iii) delay the Trust from realizing the proceeds of a sale of a loan; (iv) inhibit the Trust’s ability to re-sell To the extent the extended loan settlement process gives rise to short-term liquidity needs, such as the need to satisfy redemption requests, the Trust may hold cash, sell investments or temporarily borrow from banks or other lenders. If the Trust undertakes such measures, the Trust’s ability to pay redemption proceeds in a timely manner, as well as the Trust’s performance, may be adversely affected. If the Trust invests in a loan via a participation, the Trust will be exposed to the ongoing counterparty risk of the entity providing exposure to the loan (and, in certain circumstances, such entity’s credit risk), in addition to the exposure the Trust has to the creditworthiness of the borrower. In certain circumstances, loans may not be deemed to be securities, and in the event of fraud or misrepresentation by a borrower or an arranger, lenders will not have the protection of the anti-fraud provisions of the federal securities laws, as would be the case for bonds or stocks. Instead, in such cases, lenders generally rely on the contractual provisions in the loan agreement itself, and common-law Risk of Second Lien or Other Subordinated or Unsecured Loans or Debt High Yield Debt Securities (Junk Bond/Below-Investment Grade) Risk Changing Fixed Income Market Conditions Risk Financial Services Sector Risk affect the profitability of such companies. Financial services companies whose securities the Trust may purchase may themselves have concentrated portfolios, which makes them especially vulnerable to unstable economic conditions. Interest Rate Risk Market Discount from Net Asset Value Risk closed-end Loan Origination Risks Loan Collateral Valuation Risk or part of the amounts advanced to the borrower or may be required to accept collateral with a value less than the amount of the loan advanced by the Trust or its affiliates to the borrower. Furthermore, in the event of a default by a borrower, the Trust may have difficulty disposing of the assets used as collateral for a loan. Regulatory Risk Subsidiary Risk tax-related For domestic subsidiaries, investments through a wholly-owned domestic entity that is taxable as a corporation for U.S. federal income tax purposes may incur entity-level income taxes on their earnings, which ultimately may reduce the return to shareholders. Investments in Middle-Market Companies closed-end closed-end make it difficult for the Trust to react quickly to negative economic or political developments. Conflicts of Interest Risk Related to Co-Investing co-investment co-investment ∎ co-investment co-investment co-investment ∎ non-public Valuation Risk and Conflicts of Interest Created by Valuation Process for Certain Portfolio Holdings Defaulted Securities Risk non-defaulted non-defaulted Credit Risk extent the Trust invests in junk bonds, which may cause the Trust to incur higher expenses to protect its interests. The credit risks and market prices of lower-grade securities generally are more sensitive to negative issuer developments, such as reduced revenues or increased expenditures, or adverse economic conditions, such as a recession, than are higher-grade securities. An issuer’s securities may decrease in value if its financial strength weakens, which may reduce its credit rating and possibly its ability to meet its contractual obligations. In the event that an issuer of securities held by the Trust experiences difficulties in the timely payment of principal and interest and such issuer seeks to restructure the terms of its borrowings, the Trust may incur additional expenses and may determine to invest additional assets with respect to such issuer or the project or projects to which the Trust’s securities relate. Further, the Trust may incur additional expenses to the extent that it is required to seek recovery upon a default in the payment of interest or the repayment of principal on its portfolio holdings and the Trust may be unable to obtain full recovery on such amounts. Liquidity Risk Restricted Securities Risk Rule 144A Securities and Other Exempt Securities Risk keep certain offering information confidential, which could adversely affect the ability of the Trust to sell such securities. Preferred Shares Risk Foreign Securities Risk Risks of Structured Products notes, credit-linked notes and other types of structured products. Holders of structured products bear risks of the underlying investments, index or reference obligation and are subject to counterparty risk. The Trust may have the right to receive payments to which it is entitled only from the structured product, and generally does not have direct rights against the issuer or the entity that sold assets to the special purpose trust. While certain structured products enable the investor to acquire interests in a pool of securities without the brokerage and other expenses associated with directly holding the same securities, investors in structured products generally pay their share of the structured product’s administrative and other expenses. When investing in structured products, it is impossible to predict whether the underlying index or prices of the underlying securities will rise or fall, but prices of the underlying indices and securities (and, therefore, the prices of structured products) will be influenced by the same types of political and economic events that affect particular issuers of securities and capital markets generally. Certain structured products may be thinly traded or have a limited trading market and may have the effect of increasing the Trust’s illiquidity to the extent that the Trust, at a particular point in time, may be unable to find qualified buyers for these securities. CBOs, CLOs and other CDOs are typically privately offered and sold, and thus, are not registered under the securities laws. As a result, investments in CDOs may be characterized by the Trust as illiquid securities; however an active dealer market may exist for CDOs allowing a CDO to be considered liquid in some circumstances. In addition to the general risks associated with fixed income securities discussed herein, CDOs carry additional risks including, but not limited to: (i) the possibility that distributions from collateral securities will not be adequate to make interest or other payments; (ii) the quality of the collateral may decline in value or default; (iii) the possibility that the CDOs are subordinate to other classes; and (iv) the complex structure of the security may not be fully understood at the time of investment and may produce disputes with the issuer or unexpected investment results. Investments in structured notes involve risks including income risk, credit risk and market risk Investing in Stocks Risk over-the-counter Over-the-counter markets. Stocks and other equity securities fluctuate in price in response to changes to equity markets in general. Stock markets may experience significant short-term volatility and may fall or rise sharply at times. Adverse events in any part of the equity or fixed-income markets may have unexpected negative effects on other market segments. Different stock markets may behave differently from each other and U.S. stock markets may move in the opposite direction from one or more foreign stock markets. The prices of individual stocks generally do not all move in the same direction at the same time. However, individual stock prices tend to go up and down more dramatically than those of certain other types of investments, such as bonds. A variety of factors can negatively affect the price of a particular company’s stock. These factors may include, but are not limited to: poor earnings reports, a loss of customers, litigation against the company, general unfavorable performance of the company’s sector or industry, or changes in government regulations affecting the company or its industry. To the extent that securities of a particular type are emphasized (for example foreign stocks, stocks of small- or mid-cap Preferred Securities Risk non-payment Rights and Warrants Risk Convertible Securities Risk dividends when due, and their market value may change based on changes in the issuer’s credit rating or the market’s perception of the issuer’s creditworthiness. Convertible securities can be converted into or exchanged for a set amount of common stock of an issuer within a particular period of time at a specified price or according to a price formula. Convertible debt securities pay interest and convertible preferred stocks pay dividends until they mature or are converted, exchanged or redeemed. Some convertible debt securities may be considered “equity equivalents” because of the feature that makes them convertible into common stock. Since a convertible security derives a portion of its value from the common stock into which it may be converted, a convertible security is also subject to the same types of market and issuer risks that apply to the underlying common stock. In addition, certain convertible securities are subject to involuntary conversions and may undergo principal write-downs upon the occurrence of certain triggering events. These convertible securities are subject to an increased risk of loss and are generally subordinate in rank to other debt obligations of the issuer. Convertible securities may be rated below investment grade and therefore considered to have more speculative characteristics and greater susceptibility to default or decline in market value than investment grade securities. Warrants, Equity Securities and Junior Debt Securities of the Borrower Derivatives Risk desirable time or price. This risk may be more acute under adverse market conditions, during which the Trust may be most in need of liquidating its derivative positions. Derivatives may also be harder to value, less tax efficient and subject to changing government regulation that could impact the Trust’s ability to use certain derivatives or their cost. Derivatives strategies may not always be successful. For example, derivatives used for hedging or to gain or limit exposure to a particular market segment may not provide the expected benefits, particularly during adverse market conditions. Futures Contracts Risk Swap Transactions Risk over-the-counter Forward Foreign Currency Contracts Risk Risks of Borrowing and Leverage may also cause the Trust to liquidate portfolio positions when it may not be advantageous to do so to satisfy its obligations. Distribution Risk Financial Markets Regulatory Risk Environmental, Social and Governance (ESG) Considerations Risk Litigation Risk circumstances. Litigation that affects the Trust’s portfolio investments may result in the reduced value of such investments or higher portfolio turnover if the Trust determines to sell such investments. Litigation could result in significant expenses, reputational damage, increased insurance premiums, adverse judgment liabilities, settlement liabilities, injunctions, diversions of Trust resources, disruptions to Trust operations and/or other similar adverse consequences, any of which may increase the expenses incurred by the Trust or adversely affect the value of the Trust’s shares. Management Risk |
| Bank Loan Risk [Member] | |
| General Description of Registrant [Abstract] | |
| Risk [Text Block] | N. Bank Loan Risk |
| LIBOR Transition Risk [Member] | |
| General Description of Registrant [Abstract] | |
| Risk [Text Block] | O. LIBOR Transition Risk – non-U.S. non-representative There remains uncertainty and risks relating to the continuing LIBOR transition and its effects on the Trust and the instruments in which the Trust invests. There can be no assurance that the composition or characteristics of any alternative reference rates (“ARRs”) or financial instruments in which the Trust invests that utilize ARRs will be similar to or produce the same value or economic equivalence as LIBOR or that these instruments will have the same volume or liquidity. Additionally, there remains uncertainty and risks relating to certain “legacy” USD LIBOR instruments that were issued or entered into before December 31, 2021 and the process by which a replacement interest rate will be identified and implemented into these instruments when USD LIBOR is ultimately discontinued. On December 16, 2022, the Federal Reserve Board adopted regulations implementing the Adjustable Interest Rate Act. The regulations provide a statutory fallback mechanism to replace LIBOR, by identifying benchmark rates based on the Secured Overnight Financing Rate (“SOFR”) that replaced LIBOR in certain financial contracts after June 30, 2023. These regulations apply only to contracts governed by U.S. law, among other limitations. The Trust may have instruments linked to other interbank offered rates that may also cease to be published in the future. The effects of such uncertainty and risks in “legacy” USD LIBOR instruments held by the Trust could result in losses to the Trust. |
| Leverage Risk [Member] | |
| General Description of Registrant [Abstract] | |
| Risk [Text Block] | P. Leverage Risk |
| Other Risks [Member] | |
| General Description of Registrant [Abstract] | |
| Risk [Text Block] | Q. Other Risks non-U.S. Increases in the federal funds and equivalent foreign rates or other changes to monetary policy or regulatory actions may expose fixed income markets to heightened volatility and reduced liquidity for certain fixed income investments, particularly those with longer maturities. It is difficult to predict the impact of interest rate changes on various markets. In addition, decreases in fixed income dealer market-making capacity may also potentially lead to heightened volatility and reduced liquidity in the fixed income markets. As a result, the value of the Trust’s investments and share price may decline. Changes in central bank policies could also result in higher than normal redemptions by shareholders, which could potentially increase the Trust’s portfolio turnover rate and transaction costs. Policy changes by the U.S. government or its regulatory agencies and political events within the U.S. and abroad may, among other things, affect investor and consumer confidence and increase volatility in the financial markets, perhaps suddenly and to a significant degree, which may adversely impact the Trust’s operations, universe of potential investment options, and return potential. In making a loan directly to the borrower (“direct loan”), the Trust is exposed to the credit risk that the borrower may default or become insolvent and, consequently, that the Trust will lose money on the loan. Furthermore, direct loans may subject the Trust to liquidity and interest rate risk and certain direct loans may be deemed illiquid. Direct loans are not publicly traded and may not have a secondary market. The lack of a secondary market for direct loans may have an adverse impact on the ability of the Trust to dispose of a direct loan and/or to value the direct loan. When engaging in direct lending, the Trust’s performance may depend, in part, on the ability of the Trust to originate loans on advantageous terms. In originating and purchasing loans, the Trust will compete with a broad spectrum of lenders. Increased competition for, or a decrease in the available supply of, qualifying loans could result in lower yields on such loans, which could adversely affect Trust performance. |
| Market Risk [Member] | |
| General Description of Registrant [Abstract] | |
| Risk [Text Block] | Market Risk |
| Market Disruption Risks Related to Armed Conflict [Member] | |
| General Description of Registrant [Abstract] | |
| Risk [Text Block] | Market Disruption Risks Related to Armed Conflict |
| Debt Securities Risk [Member] | |
| General Description of Registrant [Abstract] | |
| Risk [Text Block] | Debt Securities Risk |
| Senior Loans and Other Loans Risk [Member] | |
| General Description of Registrant [Abstract] | |
| Risk [Text Block] | Senior Loans and Other Loans Risk In addition to the risks typically associated with debt securities, such as credit and interest rate risk, senior loans are also subject to the risk that a court could subordinate a senior loan, which typically holds a senior position in the capital structure of a borrower, to presently existing or future indebtedness or take other action detrimental to the holders of senior loans. Loans usually have mandatory and optional prepayment provisions. If a borrower prepays a loan, the Trust will have to reinvest the proceeds in other loans or financial assets that may pay lower rates of return. Loans are subject to the risk that the value of the collateral, if any, securing a loan may decline, be insufficient to meet the obligations of the borrower, or be difficult to liquidate. In the event of a default, the Trust may have difficulty collecting on any collateral and would not have the ability to collect on any collateral for an uncollateralized loan. In addition, the lenders’ security interest or their enforcement of their security under the loan agreement may be found by a court to be invalid or the collateral maybe used to pay other outstanding obligations of the borrower. The Trust’s access to collateral, if any, may be limited by bankruptcy, other insolvency laws, or by the type of loan the Trust has purchased. As a result, a collateralized loan may not be fully collateralized and can decline significantly in value. Loan investments are often issued in connection with highly leveraged transactions. Such transactions include leveraged buyout loans, leveraged recapitalization loans, and other types of acquisition financing. These obligations are subject to greater credit risks than other investments including a greater possibility that the borrower may default or enter bankruptcy. Highly leveraged loans also may be less liquid than other loans. If the Trust voluntarily or involuntarily sold those types of loans, it might not receive the full value it expected.. Newly originated loans (including reissuances and restructured loans) may possess lower levels of credit document protections than has historically been the case. Accordingly, in the event of default the Trust may experience lower levels of recoveries than has historically been the norm. Due to restrictions on transfers in loan agreements and the nature of the private syndication of loans including, for example, the lack of publicly-available information, some loans are not as easily purchased or sold as publicly-traded securities. Some loans are illiquid, which may make it difficult for the Trust to value them or dispose of them at an acceptable price when it wants to. The market price of investments in floating rate loans is expected to be less affected by changes in interest rates than fixed-rate investments because floating rate loans pay a floating rate of interest that will fluctuate as market interest rates do and therefore should more closely track market movements in interest rates. Direct investments in loans and, to a lesser degree, investments in participation interests in or assignments of loans may be limited. A limited availability of loans could reduce the amount of attractive investments for the Trust. If market demand for loans increases, the interest paid by loans that the Trust holds may decrease. Due to the possible limited availability of loans in the market at a given time in which the Trust can invest, there is a risk that the Trust may not be able to invest a sufficient amount in loans at all times to meet its 80% asset investment requirement (including borrowings for investment purposes). Compared to securities and to certain other types of financial assets, purchases and sales of loans take relatively longer to settle. This extended settlement process can (i) increase the counterparty credit risk borne by the Trust; (ii) leave the Trust unable to timely vote, or otherwise act with respect to, loans it has agreed to purchase; (iii) delay the Trust from realizing the proceeds of a sale of a loan; (iv) inhibit the Trust’s ability to re-sell To the extent the extended loan settlement process gives rise to short-term liquidity needs, such as the need to satisfy redemption requests, the Trust may hold cash, sell investments or temporarily borrow from banks or other lenders. If the Trust undertakes such measures, the Trust’s ability to pay redemption proceeds in a timely manner, as well as the Trust’s performance, may be adversely affected. If the Trust invests in a loan via a participation, the Trust will be exposed to the ongoing counterparty risk of the entity providing exposure to the loan (and, in certain circumstances, such entity’s credit risk), in addition to the exposure the Trust has to the creditworthiness of the borrower. In certain circumstances, loans may not be deemed to be securities, and in the event of fraud or misrepresentation by a borrower or an arranger, lenders will not have the protection of the anti-fraud provisions of the federal securities laws, as would be common-law |
| Risk of Second Lien or Other Subordinated or Unsecured Loans or Debt [Member] | |
| General Description of Registrant [Abstract] | |
| Risk [Text Block] | Risk of Second Lien or Other Subordinated or Unsecured Loans or Debt |
| High Yield Debt Securities Junk BondBelowInvestment Grade Risk [Member] | |
| General Description of Registrant [Abstract] | |
| Risk [Text Block] | High Yield Debt Securities (Junk Bond/Below-Investment Grade) Risk |
| Changing Fixed Income Market Conditions Risk [Member] | |
| General Description of Registrant [Abstract] | |
| Risk [Text Block] | Changing Fixed Income Market Conditions Risk |
| Financial Services Sector Risk [Member] | |
| General Description of Registrant [Abstract] | |
| Risk [Text Block] | Financial Services Sector Risk |
| Interests Rate Risk [Member] | |
| General Description of Registrant [Abstract] | |
| Risk [Text Block] | Interest Rate Risk |
| Market Discount from Net Asset Value Risk [Member] | |
| General Description of Registrant [Abstract] | |
| Risk [Text Block] | Market Discount from Net Asset Value Risk closed-end |
| Loan Origination Risks [Member] | |
| General Description of Registrant [Abstract] | |
| Risk [Text Block] | Loan Origination Risks |
| Loan Collateral Valuation Risk [Member] | |
| General Description of Registrant [Abstract] | |
| Risk [Text Block] | Loan Collateral Valuation Risk |
| Regulatory Risk [Member] | |
| General Description of Registrant [Abstract] | |
| Risk [Text Block] | Regulatory Risk |
| Subsidiary Risk [Member] | |
| General Description of Registrant [Abstract] | |
| Risk [Text Block] | Subsidiary Risk tax-related For domestic subsidiaries, investments through a wholly-owned domestic entity that is taxable as a corporation for U.S. federal income tax purposes may incur entity-level income taxes on their earnings, which ultimately may reduce the return to shareholders. |
| Investments in MiddleMarket Companies [Member] | |
| General Description of Registrant [Abstract] | |
| Risk [Text Block] | Investments in Middle-Market Companies closed-end closed-end |
| Conflicts of Interest Risk Related to CoInvesting [Member] | |
| General Description of Registrant [Abstract] | |
| Risk [Text Block] | Conflicts of Interest Risk Related to Co-Investing co-investment co-investment ∎ co-investment co-investment co-investment ∎ non-public Valuation Risk and Conflicts of Interest Created by Valuation Process for Certain Portfolio Holdings |
| Valuation Risk and Conflicts of Interest Created by Valuation Process for Certain Portfolio Holdings [Member] | |
| General Description of Registrant [Abstract] | |
| Risk [Text Block] | Valuation Risk and Conflicts of Interest Created by Valuation Process for Certain Portfolio Holdings |
| Defaulted Securities Risk [Member] | |
| General Description of Registrant [Abstract] | |
| Risk [Text Block] | Defaulted Securities Risk non-defaulted non-defaulted |
| Credits Risk [Member] | |
| General Description of Registrant [Abstract] | |
| Risk [Text Block] | Credit Risk |
| Liquidity Risk [Member] | |
| General Description of Registrant [Abstract] | |
| Risk [Text Block] | Liquidity Risk |
| Restricted Securities Risk [Member] | |
| General Description of Registrant [Abstract] | |
| Risk [Text Block] | Restricted Securities Risk |
| Rule 144A Securities and Other Exempt Securities Risk [Member] | |
| General Description of Registrant [Abstract] | |
| Risk [Text Block] | Rule 144A Securities and Other Exempt Securities Risk |
| Preferred Shares Risk [Member] | |
| General Description of Registrant [Abstract] | |
| Risk [Text Block] | Preferred Shares Risk |
| Foreign Securities Risk [Member] | |
| General Description of Registrant [Abstract] | |
| Risk [Text Block] | Foreign Securities Risk |
| Risks of Structured Products [Member] | |
| General Description of Registrant [Abstract] | |
| Risk [Text Block] | Risks of Structured Products notes, credit-linked notes and other types of structured products. Holders of structured products bear risks of the underlying investments, index or reference obligation and are subject to counterparty risk. The Trust may have the right to receive payments to which it is entitled only from the structured product, and generally does not have direct rights against the issuer or the entity that sold assets to the special purpose trust. While certain structured products enable the investor to acquire interests in a pool of securities without the brokerage and other expenses associated with directly holding the same securities, investors in structured products generally pay their share of the structured product’s administrative and other expenses. When investing in structured products, it is impossible to predict whether the underlying index or prices of the underlying securities will rise or fall, but prices of the underlying indices and securities (and, therefore, the prices of structured products) will be influenced by the same types of political and economic events that affect particular issuers of securities and capital markets generally. Certain structured products may be thinly traded or have a limited trading market and may have the effect of increasing the Trust’s illiquidity to the extent that the Trust, at a particular point in time, may be unable to find qualified buyers for these securities. CBOs, CLOs and other CDOs are typically privately offered and sold, and thus, are not registered under the securities laws. As a result, investments in CDOs may be characterized by the Trust as illiquid securities; however an active dealer market may exist for CDOs allowing a CDO to be considered liquid in some circumstances. In addition to the general risks associated with fixed income securities discussed herein, CDOs carry additional risks including, but not limited to: (i) the possibility that distributions from collateral securities will not be adequate to make interest or other payments; (ii) the quality of the collateral may decline in value or default; (iii) the possibility that the CDOs are subordinate to other classes; and (iv) the complex structure of the security may not be fully understood at the time of investment and may produce disputes with the issuer or unexpected investment results. |
| Investments in structured notes involve risks including income risk, credit risk and market risk [Member] | |
| General Description of Registrant [Abstract] | |
| Risk [Text Block] | Investments in structured notes involve risks including income risk, credit risk and market risk |
| Investing in Stocks Risk [Member] | |
| General Description of Registrant [Abstract] | |
| Risk [Text Block] | Investing in Stocks Risk over-the-counter Over-the-counter mid-cap |
| Preferred Securities Risk [Member] | |
| General Description of Registrant [Abstract] | |
| Risk [Text Block] | Preferred Securities Risk non-payment |
| Rights and Warrants Risk [Member] | |
| General Description of Registrant [Abstract] | |
| Risk [Text Block] | Rights and Warrants Risk |
| Convertible Securities Risk [Member] | |
| General Description of Registrant [Abstract] | |
| Risk [Text Block] | Convertible Securities Risk |
| Warrants, Equity Securities and Junior Debt Securities of the Borrower [Member] | |
| General Description of Registrant [Abstract] | |
| Risk [Text Block] | Warrants, Equity Securities and Junior Debt Securities of the Borrower |
| Derivatives Risk [Member] | |
| General Description of Registrant [Abstract] | |
| Risk [Text Block] | Derivatives Risk |
| Futures Contracts Risk [Member] | |
| General Description of Registrant [Abstract] | |
| Risk [Text Block] | Futures Contracts Risk |
| Swap Transactions Risk [Member] | |
| General Description of Registrant [Abstract] | |
| Risk [Text Block] | Swap Transactions Risk over-the-counter |
| Forward Foreign Currency Contracts Risk [Member] | |
| General Description of Registrant [Abstract] | |
| Risk [Text Block] | Forward Foreign Currency Contracts Risk |
| Risks of Borrowing and Leverage [Member] | |
| General Description of Registrant [Abstract] | |
| Risk [Text Block] | Risks of Borrowing and Leverage |
| Distribution Risk [Member] | |
| General Description of Registrant [Abstract] | |
| Risk [Text Block] | Distribution Risk |
| Financial Markets Regulatory Risk [Member] | |
| General Description of Registrant [Abstract] | |
| Risk [Text Block] | Financial Markets Regulatory Risk |
| Environmental, Social and Governance (ESG) Considerations Risk. [Member] | |
| General Description of Registrant [Abstract] | |
| Risk [Text Block] | Environmental, Social and Governance (ESG) Considerations Risk |
| Litigation Risk [Member] | |
| General Description of Registrant [Abstract] | |
| Risk [Text Block] | Litigation Risk |
| Management Risk [Member] | |
| General Description of Registrant [Abstract] | |
| Risk [Text Block] | Management Risk |
| Notes [Member] | |
| General Description of Registrant [Abstract] | |
| Investment Objectives and Practices [Text Block] | The Trust’s investment objective is to provide a high level of current income, consistent with preservation of capital. |
