<ARTICLE> 6 <PERIOD-TYPE> 3-MOS 9-MOS <FISCAL-YEAR-END> DEC-31-1998 DEC-31-1998 <PERIOD-START> JUL-01-1998 JAN-01-1998 <PERIOD-END> SEP-30-1998 SEP-30-1998 <INVESTMENTS-AT-COST> 0 0 <INVESTMENTS-AT-VALUE> 378,594,424 378,594,424 <RECEIVABLES> 4,501,838 4,501,838 <ASSETS-OTHER> 28,487,593 28,487,593 <OTHER-ITEMS-ASSETS> 0 0 <TOTAL-ASSETS> 411,583,855 411,583,855 <PAYABLE-FOR-SECURITIES> 0 0 <SENIOR-LONG-TERM-DEBT> 248,924,452 248,924,452 <OTHER-ITEMS-LIABILITIES> 7,369,208 7,369,208 <TOTAL-LIABILITIES> 256,293,660 256,293,660 <SENIOR-EQUITY> 140,002 140,002 <PAID-IN-CAPITAL-COMMON> 143,560,751 143,560,751 <SHARES-COMMON-STOCK> 14,000,114 14,000,114 <SHARES-COMMON-PRIOR> 0 0 <ACCUMULATED-NII-CURRENT> 9,082,410 9,082,410 <OVERDISTRIBUTION-NII> 0 0 <ACCUMULATED-NET-GAINS> 0 0 <OVERDISTRIBUTION-GAINS> 0 0 <ACCUM-APPREC-OR-DEPREC> 0 0 <NET-ASSETS> 152,783,163 152,783,163 <DIVIDEND-INCOME> 0 0 <INTEREST-INCOME> 8,941,763 26,551,515 <OTHER-INCOME> 1,487,644 3,938,405 <EXPENSES-NET> 6,906,862 21,096,210 <NET-INVESTMENT-INCOME> 3,522,545 9,393,710 <REALIZED-GAINS-CURRENT> 635,972 1,701,164 <APPREC-INCREASE-CURRENT> 41,890 264,292 <NET-CHANGE-FROM-OPS> 4,200,407 11,359,166 <EQUALIZATION> 0 0 <DISTRIBUTIONS-OF-INCOME> 0 0 <DISTRIBUTIONS-OF-GAINS> 0 0 <DISTRIBUTIONS-OTHER> 0 0 <NUMBER-OF-SHARES-SOLD> 3,577 3,577 <NUMBER-OF-SHARES-REDEEMED> 0 0 <SHARES-REINVESTED> 0 0 <NET-CHANGE-IN-ASSETS> 0 0 <ACCUMULATED-NII-PRIOR> 0 0 <ACCUMULATED-GAINS-PRIOR> 0 0 <OVERDISTRIB-NII-PRIOR> 0 0 <OVERDIST-NET-GAINS-PRIOR> 0 0 <GROSS-ADVISORY-FEES> 0 0 <INTEREST-EXPENSE> 0 0 <GROSS-EXPENSE> 0 0 <AVERAGE-NET-ASSETS> 0 0 <PER-SHARE-NAV-BEGIN> 0 0 <PER-SHARE-NII> 0 0 <PER-SHARE-GAIN-APPREC> 0 0 <PER-SHARE-DIVIDEND> 0 0 <PER-SHARE-DISTRIBUTIONS> 0 0 <RETURNS-OF-CAPITAL> 0 0 <PER-SHARE-NAV-END> 0 0 <EXPENSE-RATIO> 0 0 <AVG-DEBT-OUTSTANDING> 0 0 <AVG-DEBT-PER-SHARE> 0 0