<ARTICLE> 6 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE REGISTRANT'S FIANANCIAL STATEMENTS AT OR FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATMENTS ON FORM 10-Q </LEGEND> <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-START> JAN-01-1997 <PERIOD-END> JUN-30-1997 <INVESTMENTS-AT-COST> 243,807,927 <INVESTMENTS-AT-VALUE> 243,736,627 <RECEIVABLES> 2,518,669 <ASSETS-OTHER> 1,658,920 <OTHER-ITEMS-ASSETS> 10,765,995 <TOTAL-ASSETS> 258,680,211 <PAYABLE-FOR-SECURITIES> 0 <SENIOR-LONG-TERM-DEBT> 0 <OTHER-ITEMS-LIABILITIES> 122,610,055 <TOTAL-LIABILITIES> 122,610,055 <SENIOR-EQUITY> 128,661 <PAID-IN-CAPITAL-COMMON> 130,836,145 <SHARES-COMMON-STOCK> 12,866,060 <SHARES-COMMON-PRIOR> 8,250,000 <ACCUMULATED-NII-CURRENT> 3,129,434 <OVERDISTRIBUTION-NII> 0 <ACCUMULATED-NET-GAINS> 0 <OVERDISTRIBUTION-GAINS> 0 <ACCUM-APPREC-OR-DEPREC> 71,300 <NET-ASSETS> 134,094,240 <DIVIDEND-INCOME> 0 <INTEREST-INCOME> 16,142,054 <OTHER-INCOME> 1,326,331 <EXPENSES-NET> 3,410,315 <NET-INVESTMENT-INCOME> 7,596,496 <REALIZED-GAINS-CURRENT> 154,714 <APPREC-INCREASE-CURRENT> 25,000 <NET-CHANGE-FROM-OPS> 7,726,210 <EQUALIZATION> 0 <DISTRIBUTIONS-OF-INCOME> 4,642,000 <DISTRIBUTIONS-OF-GAINS> 0 <DISTRIBUTIONS-OTHER> 0 <NUMBER-OF-SHARES-SOLD> 4,616,060 <NUMBER-OF-SHARES-REDEEMED> 0 <SHARES-REINVESTED> 0 <NET-CHANGE-IN-ASSETS> 69,055,711 <ACCUMULATED-NII-PRIOR> 543,306 <ACCUMULATED-GAINS-PRIOR> 0 <OVERDISTRIB-NII-PRIOR> 0 <OVERDIST-NET-GAINS-PRIOR> 0 <GROSS-ADVISORY-FEES> 180,723 <INTEREST-EXPENSE> 6,461,574 <GROSS-EXPENSE> 9,871,889 <AVERAGE-NET-ASSETS> 0 <PER-SHARE-NAV-BEGIN> 0 <PER-SHARE-NII> 0 <PER-SHARE-GAIN-APPREC> 0 <PER-SHARE-DIVIDEND> 0 <PER-SHARE-DISTRIBUTIONS> 0 <RETURNS-OF-CAPITAL> 0 <PER-SHARE-NAV-END> 10.35 <EXPENSE-RATIO> 0 <AVG-DEBT-OUTSTANDING> 0 <AVG-DEBT-PER-SHARE> 0