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 811-21566

Name of Fund: BlackRock Global Floating Rate Income Trust (BGT)

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service: Donald C. Burke, Chief Executive Officer, BlackRock Global Floating Rate Income Trust, 800 Scudders Mill Road, Plainsboro, NJ, 08536. Mailing address: P.O. Box 9011, Princeton, NJ, 08543-9011

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

Date of fiscal year end: 12/31/2008

Date of reporting period: 01/01/2008 – 03/31/2008


Item 1 – Schedule of Investments

BlackRock Global Floating Rate Income Trust
   
Schedule of Investments as of March 31, 2008 (Unaudited)
(Percentages shown are based on Net Assets)
                                                                      Par               
Industry
      (000)   Floating Rate Loan Interests     Value
Aerospace &
  USD   975   Avio Holding SpA Term Loan, 9.375% - 9.50%, 9/25/16 $   880,869
Defense - 1.7%
      873   DynCorp Term Loan C, 4.625%, 6/28/12     813,925
      160   Hawker Beechcraft Acquisition Co. LLC Letter of Credit,      
          2.596%, 3/31/14     149,043
      2,751   Hawker Beechcraft Acquisition Co. LLC Term Loan B,      
          4.696%, 3/31/14     2,557,580
      1,129   IAP Worldwide Services, Inc. First Lien Term Loan,      
          9%, 12/20/12     928,664
      973   Wesco Aircraft Hardware Corp. First Lien Term Loan,      
          4.95%, 9/25/13     906,046
 
                6,236,127
Air Freight &
      1,000   Jacobson Companies Second Lien Term Loan,      
Logistics - 0.2%
          8.21%, 6/11/14     680,000
Airlines - 0.6%
      1,980   US Airways Group, Inc. Term Loan B, 5.178%, 3/22/14     1,394,251
      1,068   United Air Lines, Inc. Term Loan B, 4.625% - 4.875%, 1/30/14     828,721
 
                2,222,972
Auto
      3,000   Allison Transmission Term Loan B, 5.48% - 5.74%, 8/07/14     2,626,071
Components -
      892   GPX International Tire Corp. Term Loan B, 10.10%, 4/06/12     660,194
1.2%
      863   Mark IV Industries First Lien Term Loan, 7.08% - 8.26%, 6/01/11     681,857
      104   Metaldyne Corp. Letter of Credit, 3.146% - 6.50%, 1/15/12     75,635
      706   Metaldyne Corp. Term Loan B, 6.50%, 1/15/14     514,315
 
                4,558,072
Beverages - 0.3%
  EUR   1,000   Culligan International Second Lien Term Loan,      
          9.102% - 9.134%, 4/24/13     884,103
  USD   1,000   Le-Nature's, Inc. Term Loan B, 9.50%, 12/28/12     328,333
 
                1,212,436
Biotechnology -
      968   Talecris Biotherapeutics, Inc. First Lien Term Loan,      
0.2%
          6.57%, 11/13/14     812,742
Building Products -
      195   Armstrong World Term Loan B, 4.309%, 10/02/13     182,339
2.5%
      2,469   Building Material Corp. of America First Lien Term Loan,      
          6.688%, 2/22/14     1,953,941
      1,500   Custom Building Products Second Lien Term Loan,      
          9.718%, 4/29/12     1,200,000
      230   Lafarge Roofing SA Term Loan B, 4.829%, 5/01/15     164,600
  EUR   845   Lafarge Roofing SA Term Loan B, 6.856%, 5/01/15     958,848
  USD   230   Lafarge Roofing SA Term Loan C, 5.079%, 5/01/16     165,521
  EUR   842   Lafarge Roofing SA Term Loan C, 7.106%, 5/01/16     960,428
  USD   242   Masonite International Term Loan, 4.63% - 5.331%, 4/06/13     207,296
      243   Masonite International Term Loan B, 4.63% - 5.331%, 4/06/13     207,649
      1,974   Momentive Performance Materials, Inc. Term Loan B,      
          4.938%, 12/04/13     1,736,816
      2,266   United Subcontractors Inc. First Lien Term Loan,      
          5.89% - 7.566%, 12/27/12     1,480,305
 
                9,217,743
Cable - U.S. - 1.1%
      4,419   Cablevision Systems Corp. Term Loan, 4.477%, 3/28/13     4,123,822

1

BlackRock Global Floating Rate Income Trust
   
Schedule of Investments as of March 31, 2008 (Unaudited)
(Percentages shown are based on Net Assets)
      Par        
Industry
      (000)   Floating Rate Loan Interests   Value
Capital Markets -
  USD   499   Marsico Parent Company, LLC Term Loan B,    
0.1%
          5.875% - 7.438%, 11/14/14 (e)
$
453,863
Chemicals - 8.9%
      393   Brenntag AG Second Lien Term Loan, 5.794%, 1/19/13   338,236
      1,000   Brenntag AG Second Lien Term Loan, 7.794%, 7/17/15   780,000
  EUR   500   Brenntag AG Term Loan B, 6.655%, 11/24/37   675,576
  USD   1,607   Brenntag AG Term Loan B2, 5.794%, 1/24/13   1,384,264
  EUR   1,920   British Vita Plc Mezzanine, 10.017%, 7/22/13   2,278,478
      803   Cognis Deutschland Term Loan A, 6.948%, 11/17/13   1,060,340
      197   Cognis Deutschland Term Loan B, 6.606%, 11/16/13   259,675
  USD   1,000   Flint Group Term Loan, 4.88%, 12/20/14   859,375
  EUR   833   Flint Group Term Loan B, 6.983%, 5/30/15   1,119,930
      833   Flint Group Term Loan C, 6.983%, 5/30/16   1,125,412
  USD   1,728   Ineos Group Plc Term Loan A, 4.635% - 4.655%, 2/20/13   1,481,908
      1,715   Ineos Group Plc Term Loan B, 4.885%, 2/20/15   1,570,834
      1,715   Ineos Group Plc Term Loan C, 5.385%, 2/20/14   1,570,834
      2,327   Innophos Holdings, Inc. Term Loan B, 4.70%, 8/13/10   2,176,000
      1,231   Invista Term Loan, 4.196%, 4/29/11   1,164,976
      2,322   Invista Term Loan B1, 4.196%, 4/29/11   2,197,759
      192   Kraton Polymers Term Loan, 4.75%, 5/12/11   164,421
  EUR   1,032   Lucite International Finance Plc,    
          13.411%, 7/03/14 (c)   1,202,147
      1,802   MacDermid, Inc. Term Loan C, 6.981%, 12/15/13   2,190,859
  USD   1,629   Nalco Co. Tranche B Term Loan, 4.477% - 6.48%, 11/04/10   1,583,157
      2,776   Rockwood Specialties Group, Inc. Tranche D Term Loan,    
          4.744%, 12/10/12   2,620,895
  EUR   1,787   Viridian Group Plc Term Loan, 8.434%, 4/20/12   2,332,629
  GBP   1,800   Viridian Group Plc Term Loan, 9.601%, 12/21/12   2,976,957
 
              33,114,662
Commercial
      185   Aramark Corp. Letter of Credit, 6.845%, 1/30/14   171,807
Services &
      2,907   Aramark Corp. Term Loan B, 4.571%, 1/30/14   2,704,354
Supplies - 3.5%
      1,040   Brickman Group, Inc. Term Loan, 4.696%, 1/30/14   925,155
      2,000   EnviroSolutions Term Loan B, 8.25%, 7/01/12   1,620,000
      1,214   Euramax International Plc Second Lien Term Loan,    
          10.978%, 6/29/13   815,690
      2,022   John Maneely Co. Term Loan B, 5.966% - 6.354%, 12/15/13   1,732,938
      250   Kion GmbH Term Loan B, 6.751%, 3/15/15   209,375
      250   Kion GmbH Term Loan C, 7.251%, 3/15/16   210,625
      615   Language Line Services Term Loan B1, 5.95%, 11/14/11   562,482
      322   Sirva Worldwide Tranche B Term Loan, 6.21%, 12/01/10   143,648

2

BlackRock Global Floating Rate Income Trust    
Schedule of Investments as of March 31, 2008 (Unaudited)
(Percentages shown are based on Net Assets)
        Par          
Industry       (000)   Floating Rate Loan Interests     Value
    USD   500   Synagro Technologies, Inc. Second Lien Term Loan,      
            7.82%, 10/01/14  
$
350,000
        1,196   Thermo Fluids, Inc. Term Loan, 6.20% - 6.60%, 6/27/13     836,870
        2,963   West Corp. Term Loan, 5.078% - 6.093%, 10/31/13     2,557,689
                  12,840,633
Communications       1,496   Alltel Corp. Term Loan B2, 5.55%, 5/16/15     1,347,863
Equipment - 1.2%       3,492   Alltel Corp. Term Loan B3, 5.567%, 5/18/15     3,146,142
                  4,494,005
Computers &       1,169   Intergraph Corp. Term Loan, 4.678% - 5.09%, 5/15/14     1,051,821
Peripherals - 1.4%       750   Intergraph Corp. Term Loan, 9.09%, 11/15/14     656,250
        2,688   Reynolds and Reynolds Co. First Lien Term Loan,      
            4.678%, 10/31/12     2,432,574
        1,250   Reynolds and Reynolds Co. Second Lien Term Loan,      
            8.178%, 10/31/13     1,137,500
                  5,278,145
Construction &       500   Brand Energy & Infrastructure Services, Inc. Letter of      
Engineering - 0.8%           Credit, 2.625%, 2/15/14     465,000
        495   Brand Energy & Infrastructure Services, Inc. Term Loan B,      
            5% - 5.375%, 2/15/14     460,350
        500   Brand Energy & Infrastructure Services, Inc. Term Loan B,      
            9.125% - 9.313%, 2/15/15     447,500
    GBP   986   Grupo Ferrovial SA (BAA) Second Lien Term Loan,      
            9.935%, 4/07/11     1,579,142
                  2,951,992
Construction   USD   1,313   Headwaters, Inc. Term Loan B-1, 4.61%, 4/30/11     1,194,375
Materials - 0.5%       965   Nortek, Inc. Term Loan, 5.35%, 8/27/11     828,291
                  2,022,666
Containers &       500   Atlantis Plastics Second Lien Term Loan,      
Packaging - 3.8%           12.25%, 3/22/12     125,000
        495   Consolidated Container Co. LLC First Lien Term Loan,      
            5.501%, 4/15/14     373,725
        550   Consolidated Container Co. LLC Second Lien Term Loan,      
            8.585% - 8.751%, 10/15/14     297,000
        4,948   Graham Packaging Co. LP Term Loan B,      
            4.875% - 5.25%, 4/15/11     4,518,732
    EUR   1,000   Mivisa Envases SAU Term Loan B, 7.087%, 6/03/15     1,361,677
        1,915   Owens-Illinois, Inc. Term Loan D, 5.801%, 6/14/13     2,600,054
        488   Pregis Corp. Term Loan B, 7.231%, 9/30/12     754,251
    USD   500   SCA Packaging Second Lien Term Loan, 8.18%, 3/07/15     206,250
    EUR   750   Smurfit Kappa Group Term Loan B1,      
            6.176% - 6.616%, 7/16/14     1,030,822
    USD   750   Smurfit Kappa Group Term Loan C1,      
            6.426% - 6.866%, 7/16/15     1,036,059
        140   Smurfit-Stone Container Corp. Term Loan B,      
            4.709% - 5.125%, 11/01/11     133,059

3

BlackRock Global Floating Rate Income Trust
   
Schedule of Investments as of March 31, 2008 (Unaudited)
(Percentages shown are based on Net Assets)
      Par            
Industry     (000)   Floating Rate Loan Interests     Value
  USD 1,835   Solo Cup Co. Term Loan, 6.10% - 6.59%, 2/27/11   $ 1,703,533
 
              14,140,162
Distributors - 0.4%
    1,728   Keystone Automotive Operations, Inc. Term Loan B,      
 
        6.099% - 7.75%, 1/15/12     1,339,297
Diversified
    1,379   BNY ConvergEx Group First Lien Term Loan,      
Financial Services -
    5.70%, 8/01/13     1,123,536
1.2%
  3,800   JG Wentworth Manufacturing Term Loan B, 4.921%, 4/15/14     2,774,000
    752   Professional Services Term Loan, 5.46%, 10/31/12     676,849
 
              4,574,385
Diversified
    393   Cavalier Telephone Term Loan B, 9%, 12/15/12     255,460
Telecommunication
500   Country Road Communications Second Lien Term Loan,      
Services - 6.5%
        12.59%, 7/15/13     485,000
  EUR 1,000   Eircom Group Plc Second Lien Term Loan, 8.981%, 2/14/16     1,333,260
    3,000   Eircom Group Plc Term Loan B, 6.606%, 8/14/14     4,096,134
    3,000   Eircom Group Plc Term Loan C, 6.856%, 8/14/13     4,116,608
  USD 2,000   Iowa Telecom Term Loan B, 4.43% - 4.54%, 11/23/11     1,883,334
  EUR 1,092   TDC A/S ex-Tele Danmark AS Term Loan, 6.422%, 4/06/15     1,623,931
    912   TDC A/S ex-Tele Danmark AS Term Loan B, 6.138%, 4/06/14     1,349,568
  USD 746   Time Warner Telecom Term Loan, 4.71%, 10/31/13     731,306
    743   Time Warner Telecom Term Loan B, 4.71%, 2/23/14     690,896
  EUR 1,307   Wind Telecomunicazione SpA Term Loan A,      
        6.10% - 6.645%, 9/22/12     1,883,278
    2,000   Wind Telecomunicazione SpA Term Loan B, 7.17%, 9/22/13     2,903,696
    2,000   Wind Telecomunicazione SpA Term Loan C, 7.60%, 9/22/14     2,918,271
 
              24,270,742
Electric Utilities -
  USD 438   Astoria Generating Company Acquisitions, LLC First Lien Term      
0.75%
        Loan, 6.93%, 2/23/13     402,895
    1,353   Mirant Corp. Term Loan B, 4.454%, 1/26/13     1,274,469
    757   TPF Generation Holdings LLC First Lien Term Loan,      
        4.696%, 11/28/13     656,377
    150   TPF Generation Holdings LLC Letter of Credit,      
        9.68%, 11/28/13     130,175
    47   TPF Generation Holdings LLC Revolving Credit,      
        2.596%, 11/28/13     40,910
 
              2,504,826
Electrical
    500   Electrical Components International Holdings Second Lien Term      
Equipment - 0.4%
        Loan, 9.46%, 5/05/14     300,000
    980   Generac Power Systems, Inc. First Lien Term Loan,      
        5.184%, 11/15/13     779,100
    750   Generac Power Systems, Inc. Second Lien Term Loan,      
        8.684%, 5/15/14     523,125
 
              1,602,225

4

BlackRock Global Floating Rate Income Trust    
Schedule of Investments as of March 31, 2008 (Unaudited)
(Percentages shown are based on Net Assets)
      Par        
Industry     (000)   Floating Rate Loan Interests   Value
Electronic   USD 500   Deutsch Connectors Second Lien Term Loan,    
Equipment &         9.396%, 1/27/16
$
395,000
Instruments - 2.6%     223   Flextronics International Ltd. Delay Draw Term Loan,    
          7.455%, 10/01/14   204,427
      556   Flextronics International Ltd. Delay Draw Term Loan,    
          7.455%, 10/05/14   509,278
      1,937   Flextronics International Ltd. Term Loan B,    
          6.50%, 10/01/14   1,774,069
      776   Flextronics International Ltd. Term Loan B2,    
          7.394%, 10/01/14   711,028
    EUR 2,000   Moeller Group Term Loan B, 10.35%, 10/24/13   3,047,789
    USD 2,000   SafeNet, Inc. Second Lien Term Loan, 10.627%, 5/11/15   1,500,000
      2,076   Tinnerman Palnut Second Lien Term Loan,    
          13.84% - 14.18%, 11/01/11   1,515,225
              9,656,816
Energy Equipment     222   Chart Industries, Inc. Term Loan B,    
& Services - 1.2%         6.875% - 7.188%, 10/17/12   206,667
      982   Dresser, Inc. First Lien Term Loan,    
          5.204% - 5.565%, 5/15/14   918,278
      1,500   Dresser, Inc. Second Lien Term Loan, 8.82%, 5/15/15   1,357,500
      490   MEG Energy Corp. Term Loan B, 4.70%, 4/03/13   442,960
      1,471   Trinidad Energy Services Term Loan, 5.209%, 4/15/11   1,382,975
              4,308,380
Food & Staples     979   Advantage Sales & Marketing Term Loan B,    
Retailing - 3.2%         4.70% - 4.73%, 4/15/13   852,597
      980   Bolthouse Farms, Inc. First Lien Term Loan, 5%, 11/29/12   915,075
      500   Bolthouse Farms, Inc. Second Lien Term Loan,    
          8.196%, 11/29/12   452,500
      1,000   DS Waters LP Term Loan B, 6.709%, 3/31/12   890,000
      139   Dole Food Co., Inc. Letter of Credit, 6.507%, 4/12/13   118,919
      306   Dole Food Co., Inc. Term Loan B, 4.937% - 6.25%, 4/12/13   262,214
      1,020   Dole Food Co., Inc. Term Loan C, 4.813% - 6.313%, 4/04/13   874,048
    GBP 382   IGLO Birds Eye Mezzanine, 13.951%, 11/02/15   675,499
    EUR 500   IGLO Birds Eye Term Loan B, 7.018%, 10/27/19   700,354
      500   IGLO Birds Eye Term Loan C, 7.393%, 10/27/15   703,643
    USD 988   McJunkin Corp. Term Loan B, 5.954%, 1/30/14   931,336
      1,047   Pierre Foods, Inc. Term Loan B, 6.97%, 6/30/10   690,729
      500   Rite Aid Corp. Term Loan B, 4.16% - 4.81%, 6/04/14   450,000
      1,466   Roundy's, Inc. Term Loan B, 5.69%, 10/22/11   1,367,453
      1,865   Sturm Foods, Inc. First Lien Term Loan, 5.813%, 1/30/14 (c)   1,382,977
      750   Sturm Foods, Inc. Second Lien Term Loan, 9.313%, 6/30/14   477,500
              11,744,844

5

BlackRock Global Floating Rate Income Trust
   
Schedule of Investments as of March 31, 2008 (Unaudited)
(Percentages shown are based on Net Assets)
    Par          
Industry
    (000)   Floating Rate Loan Interests     Value
Food Products -
   USD 498   Fresh Start Bakeries First Lien Term Loan,      
2.6%
        4.938% - 7.25%, 9/29/13   $ 437,800
    500   Fresh Start Bakeries Second Lien Term Loan,      
        8.438%, 3/29/14     440,000
    1,453   Jetro Holdings, Inc. Term Loan, 5.20%, 5/11/14     1,329,609
    3,368   OSI Industries Term Loan B, 4.671%, 9/02/11     2,929,987
  EUR 535   United Biscuits Finance Plc Term Loan B, 6.829%, 12/14/14     711,808
  GBP 1,651   United Biscuits Finance Plc Term Loan B, 7.962%, 1/23/15     2,672,034
    571   Weetabix Food Co. Pay In Kind Term Loan, 14.32%, 7/26/14     1,003,341
 
              9,524,579
Health Care
    2,859   Arizant, Inc. Term Loan B, 5.171% - 5.56%, 7/14/10     2,659,301
Equipment &
    500   Biomet, Inc. Term Loan B, 5.696%, 12/28/14     479,625
Supplies - 2.3%
  EUR 500   Molnlycke HealthCare AB Second Lien Term Loan,      
        8.129%, 10/09/16     592,034
    1,500   Molnlycke HealthCare AB Term Loan B, 6.379%, 4/09/15     2,018,835
    1,383   Molnlycke HealthCare AB Term Loan C, 6.629%, 4/09/16     1,875,027
  USD 973   Select Medical Term Loan B, 4.63% - 6.25%, 2/24/12     857,988
 
              8,482,810
Health Care
    1,000   Aearo Technologies, Inc. Second Lien Term Loan,      
Providers &
        9.75%, 5/23/14     1,010,000
Services - 4.4%
    721   CCS Medical First Lien Term Loan, 5.93%, 10/31/12     627,916
  EUR 1,500   Capio AB Term Loan C, 6.677%, 4/15/16     2,160,077
  USD 210   Community Health Systems, Inc. Delay Draw Term Loan,      
        0.50%, 6/18/14     192,752
    4,097   Community Health Systems, Inc. Term Loan B,      
        5.335%, 6/18/14     3,768,869
    1,944   Health Management Associates, Inc. Term Loan B,      
        4.446%, 1/15/14     1,677,601
    2,519   HealthSouth Corp. Term Loan B, 5.21% - 5.23%, 3/12/14     2,320,343
    467   National Renal Institutes Term Loan B, 5%, 4/07/13     403,530
    499   Surgical Care Affiliates Term Loan B, 4.946%, 12/26/14     408,970
    2,958   US Oncology Holdings, Inc. Term Loan B, 5.446%, 8/20/11     2,729,177
    975   Vanguard Health Systems Term Loan B, 4.954%, 9/23/11     902,946
 
              16,202,181
Hotels, Restaurants
    2,197   Cracker Barrel Term Loan B, 4.62%, 4/27/13     2,042,006
& Leisure - 4.8%
    273   Golden Nugget, Inc. Delay Draw Term Loan, 4.66%, 6/30/13     233,182
    477   Golden Nugget, Inc. Term Loan, 4.56% - 4.66%, 5/30/14     408,068
    1,000   Golden Nugget, Inc. Term Loan Second Lien,      
        5.81%, 11/30/14     740,000
    1,663   Greektown Casino Term Loan B, 7.188%, 12/01/12     1,396,682

6

BlackRock Global Floating Rate Income Trust
   
Schedule of Investments as of March 31, 2008 (Unaudited)
(Percentages shown are based on Net Assets)
    Par        
Industry
    (000)   Floating Rate Loan Interests   Value
 
USD
 477   Green Valley Ranch Gaming LLC Term Loan,    
        4.671% - 5.085%, 1/29/12
$
373,706
    1,500   Green Valley Ranch Gaming LLC Term Loan,    
        6.335%, 8/30/14   1,061,250
    2,000   Hallmark Entertainment Second Lien Term Loan,    
        7.25%, 10/15/14   1,940,000
    4,400   Harrah's Entertainment, Inc. Term Loan B2,    
        6.244%, 1/29/15   4,026,788
    282   Harrah's Entertainment, Inc. Term Loan B3,    
        6.244%, 1/29/15   258,294
    318   Harrah's Operating Term Loan B, 6.244%, 1/31/15   290,382
    500   Las Vegas Sands LLC Delay Draw Term Loan, 0.75%, 5/23/14   440,682
    1,985   Las Vegas Sands LLC Term Loan B, 4.45%, 5/04/14   1,749,508
    75   OSI Restaurant Partners, Inc. Revolving Credit,    
        4.92%, 5/15/14   58,008
    887   OSI Restaurant Partners, Inc. Term Loan B,    
        5%, 5/15/14   684,476
    47   Travelport, Inc. Standby Letter of Credit, 4.946%, 8/31/13   40,735
    925   Universal City Development Term Loan B,    
        4.30% - 6.01%, 6/09/11   869,927
    975   Wembley, Inc. First Lien Term Loan, 5.21% - 5.59%, 8/12/12   633,767
    1,500   Wembley, Inc. Second Lien Term Loan,    
        6.96% - 7.19%, 2/12/13   525,000
 
             17,772,461
Household Durables
    2,000   American Residential Services Second Lien Term Loan,    
- 1.2%
        12%, 4/17/15   1,970,620
    95   Berkline Corp. First Lien Term Loan, 8.488%, 11/10/11   4,735
    1,248   Jarden Corp. Term Loan B3, 5.196%, 1/24/12   1,191,950
    1,300   Josten's, Inc. Term Loan B, 6.718%, 10/04/11   1,232,947
 
            4,400,252
Household Products
    1,100   VJCS Acquisition Term Loan B, 4.924% - 5.23%, 4/30/14   957,000
- 0.3%
             
IT Services - 2.9%
    465   Activant Solutions Term Loan B, 4.75% - 5.062%, 5/02/13   397,377
    733   Affiliated Computer Services Term Loan B,    
        4.654%, 3/20/13   696,698
    3,000   Alliance Data Systems Term Loan, 8.058%, 12/15/14   2,790,000
    1,000   Audio Visual Services Corp. Second Lien Term Loan,    
        8.20%, 9/15/14   900,000
    500   Emdeon Business Services Second Lien Term Loan,   430,000
        7.70%, 5/16/13    
    1,741   First Data Corp. Term Loan B, 5.349% - 5.646%, 9/24/14   1,565,433
    983   RedPrairie Corp. Term Loan, 6.125% - 7.25%, 7/31/12   864,600
    1,250   RedPrairie Corp. Term Loan, 9.612%, 1/31/13   1,062,500
    2,432   SunGard Data Systems, Inc. Term Loan B,    
        4.878%, 2/28/14   2,252,088
 
             10,958,696

7

BlackRock Global Floating Rate Income Trust
   
Schedule of Investments as of March 31, 2008 (Unaudited)
(Percentages shown are based on Net Assets)
    Par        
Industry
    (000)   Floating Rate Loan Interests   Value
Independent Power
  USD 1,500   The AES Corp. Term Loan, 7% - 7.19%, 8/10/11
$
1,419,375
Producers & Energy
    1,741   TXU Corp. Term Loan B-2, 6.478% - 6.596%, 10/14/29   1,584,729
Traders - 2.5%
    6,965   TXU Corp. Term Loan B-3, 6.478% - 6.596%, 10/10/14   6,320,738
 
             9,324,842
Industrial
    94   Trimas Corp. Letter of Credit, 2.553%, 8/02/11   79,688
Conglomerates -
    400   Trimas Corp. Term Loan B, 5.494%, 8/02/13   340,133
0.1%
            419,821
Insurance - 0.6%
    995   Alliant Insurance Services Term Loan B, 5.696%, 10/23/14   865,650
    739   Conseco Term Loan B, 4.704%, 10/10/13   565,151
    1,105   Sedgwick Claims Management Service, Inc. Term Loan B,    
        4.946%, 3/03/13   961,362
 
             2,392,163
Internet & Catalog
    408   FTD Flowers Term Loan, 4.454%, 7/28/13   387,349
Retail - 0.4%
    958   Oriental Trading First Lien Term Loan,    
        4.96% - 5.34%, 7/31/13   742,535
    500   Oriental Trading Second Lien Term Loan, 8.71%, 1/31/14   337,500
 
             1,467,384
Leisure Equipment
    980   24 Hour Fitness Term Loan B, 5.20% - 7.22%, 6/08/12   828,100
& Products - 0.4%
    555   Kerasotes Showplace Theatres LLC Term Loan B,    
        5%, 11/01/11   511,044
    233   True Temper Sports, Inc. Term Loan B, 7.08%, 3/15/11   203,100
 
             1,542,244
Life Sciences Tools
    980   Quintiles Transnational Term Loan B, 4.70%, 3/21/13   916,300
& Services - 0.3%
    250   Quintiles Transnational Term Loan C, 6.70%, 3/21/14   223,750
 
             1,140,050
Machinery - 5.6%
    604   Blount, Inc. US Term Loan B, 4.459%, 8/09/10   557,049
  EUR 3,591   Colfax Corp. Term Loan C, 6.981%, 12/19/11   5,499,546
  GBP 1,783   Invensys Plc Term Loan, 7.714%, 12/09/10   3,384,793
  USD 1,000   Invensys Plc Term Loan A, 5.128%, 12/15/10   948,333
    271   Lincoln Industrials Delay Draw Term Loan, 5.75%, 7/11/14   249,027
    723   Lincoln Industrials First Lien Term Loan, 5.75%, 7/11/14   664,700
    491   NACCO Materials Handling Group Term Loan B,    
        4.704% - 6.738%, 3/21/13   417,563
    1,333   Navistar International Transportation Corp. Revolving Credit,    
        4.794% - 6.501%, 6/30/12   1,171,667
    3,667   Navistar International Transportation Corp. Term Loan,    
        6.501%, 6/30/12   3,222,083
    2,469   OshKosh Truck Corp. Term Loan B, 4.76%, 11/30/13   2,294,703
    83   Standard Steel Delay Draw Term Loan,    
        5.11% - 6.75%, 6/21/12   69,475
    409   Standard Steel First Lien Term Loan, 5.20%, 6/21/12   343,875
    985   Stolle Machinery First Lien Term Loan,    
        7.25% - 7.938%, 9/14/12   916,050
    829   Synventive Molding Solutions Mezzanine, 11/23/37 (a)   372,875

8

BlackRock Global Floating Rate Income Trust    
Schedule of Investments as of March 31, 2008 (Unaudited)
(Percentages shown are based on Net Assets)
      Par        
  Industry    
(000)
  Floating Rate Loan Interests   Value
USD 289   Wastequip Delay Draw Term Loan, 4.946%, 1/17/13
$
236,636
      685   Wastequip Term Loan B, 4.946%, 1/17/13   562,010
               20,910,385
Marine - 1.1%     1,650   Dockwise Shipping BV Second Lien Term Loan,    
          7.196%, 10/26/16   1,295,250
      1,733   Dockwise Shipping BV Term Loan B,    
          5.071%, 4/26/15   1,441,394
      1,733   Dockwise Shipping BV Term Loan C,    
          5.071% - 5.571%, 4/26/16   1,447,170
               4,183,814
Media - 32.5%     1,478   Acosta, Inc. Term Loan, 4.96%, 2/28/14   1,332,213
      975   Affinion Group, Inc. Term Loan, 9.267%, 3/01/12   770,250
      931   Alix Partners Term Loan B, 4.71%, 10/30/13   863,938
      1,965   Atlantic Broadband Finance Term Loan B, 4.95%, 2/27/14   1,758,813
      250   Bresnan Telecommunications Second Lien Term Loan,    
          7.37% - 7.52%, 3/31/14   220,000
EUR 1,625   Casema NV (Essent Kablecom) Term Loan B,    
          6.879%, 11/02/14   2,347,813
      1,625   Casema NV (Essent Kablecom) Term Loan C,    
          7.379%, 11/02/15   2,359,840
  USD 1,995   Catalina Marketing Group Term Loan, 5.696%, 10/01/14   1,810,451
      6,930   Cequel Communications LLC Term Loan B,    
          4.728% - 6.25%, 11/05/13   5,834,194
      6,983   Charter Communications, Inc. Term Loan B,    
          5.26%, 4/30/14   5,892,881
      750   Choice Cable Second Lien Term Loan, 10.25%, 1/28/12   622,500
      1,107   Cinemark Term Loan, 4.35% - 6.98%, 10/05/13   1,000,094
      1,989   Clarke American Corp. Term Loan B,    
          5.196% - 5.198%, 3/12/13   1,585,034
      1,460   ClientLogic Holding Corp. Term Loan B,    
          5.171% - 5.744%, 1/30/14   1,153,551
      1,476   Cumulus Media Term Loan B, 4.454% - 4.64%, 5/21/14   1,247,563
      1,101   Dex Media West LLC Term B-2, 4.20% - 4.59%, 3/09/10   1,056,631
      611   Dex Media West LLC Term Loan B-1, 4.20% - 4.57%, 3/09/10   584,618
      1,990   Discovery Communications Term Loan B, 4.696%, 5/15/13   1,823,326
      364   Education Media and Publishing First Lien Term Loan,    
          6.901%, 5/15/09   347,727
      2,636   Education Media and Publishing First Lien Term Loan B,    
          6.901%, 11/14/14   2,372,727

9

BlackRock Global Floating Rate Income Trust    
Schedule of Investments as of March 31, 2008 (Unaudited)
(Percentages shown are based on Net Assets)
      Par        
Industry    
(000)
  Floating Rate Loan Interests   Value
     USD 6,827   Education Media and Publishing Second Lien Term Loan,    
          6.901%, 11/14/14
$
5,939,300
      482   Emmis Operating Co. Term Loan B,    
          4.671% - 4.674%, 11/02/13   400,127
      1,000   Formula One Group Term Loan B, 7.093%, 12/31/13   873,000
      592   GateHouse Media Operating, Inc. Delay Draw Term Loan,    
          4.72% - 5.09%, 9/15/14   402,333
      1,386   GateHouse Media Operating, Inc. Term Loan B,    
          5.09%, 9/15/14   942,391
      1,995   Gray Communications Systems, Inc. First Lien Delay Draw Term    
          Loan, 4.19%, 9/18/14   1,660,838
      422   Gray Communications Systems, Inc. Term Loan B,    
          4.19%, 9/18/14   351,648
      1,098   HIT Entertainment Ltd. First Lien Term Loan, 5.07%, 8/31/12   922,363
      1,000   HIT Entertainment Ltd. Second Lien Term Loan,    
          8.60%, 2/24/13   750,000
      1,990   Hanley-Wood LLC Term Loan B, 4.938% - 6.755%, 3/07/14   1,472,600
      500   Hargray Communications Group Second Lien Term Loan,    
          8.196%, 6/18/14   440,000
      4,114   Idearc, Inc. Term Loan B, 4.70% - 4.71%, 11/15/14   3,285,417
      2,700   Insight Midwest Holdings LLC Term Loan B, 4.69%, 4/06/14   2,455,072
     EUR 4,000   Kabel Deutschland GMBH Term Loan, 6.14%, 6/01/12   5,515,120
    USD 496   Knology, Inc. Term Loan B, 4.934%, 3/15/12   416,850
      1,489   Liberty Cablevision of Puerto Rico Term Loan B,    
          4.80%, 3/01/13   1,324,988
      1,173   Mediacom Broadband Group Tranche A Term Loan,    
          4.10% - 4.23%, 3/31/10   1,024,622
      1,481   Mediacom Communications Term Loan D,    
          4.35% - 4.62%, 1/31/15   1,271,229
      2,449   Mediacom LLC Term Loan C, 4.35% - 4.48%, 1/31/15   2,113,327
      2,940   Metro-Goldwyn-Mayer Studios, Inc. Term Loan B,    
          5.946%, 4/30/11   2,315,250
      355   Multicultural Radio Broadcasting Inc. Term Loan,    
          5.75%, 12/15/12   330,150
    GBP 1,500   NTL Cable Plc Second Lien Term Loan, 8.267%, 7/17/13   2,455,991
      2,285   NTL Cable Plc Term Loan, 8.283%, 11/19/37   3,916,399
  USD 1,000   National Cinemedia LLC Term Loan B, 4.62%, 2/28/15   864,583
      1,500   New Vision First Lien Term Loan, 9.58%, 10/26/14   1,215,000
      828   New Vision Television Term Loan B, 6.08%, 10/21/13   699,413
      170   New Vision Term Loan B, 6.08%, 10/21/13   143,469
      237   New Wave Communications Delay Draw Term Loan,    
          6.621% - 9.25%, 6/30/13   220,410
      933   New Wave Communications Term Loan B, 6.204%, 6/30/13   868,039
      1,902   Nexstar Broadcasting Group Term Loan, 6.58%, 10/01/12   1,692,898
      1,796   Nexstar Broadcasting Group Term Loan B, 4.454%, 10/01/12   1,598,540

10

BlackRock Global Floating Rate Income Trust
   
Schedule of Investments as of March 31, 2008 (Unaudited)
(Percentages shown are based on Net Assets)
    Par        
Industry
    (000)   Floating Rate Loan Interests   Value
  USD 3,946   Nielsen Finance LLC Term Loan B, 5.346%, 8/15/13
$
3,553,034
  EUR 500   PagesJaunes Group Term Loan, 8.555%, 1/11/17   619,168
    1,000   PagesJaunes Group Term Loan B, 6.555%, 1/11/15   1,250,770
    1,000   PagesJaunes Group Term Loan C, 7.055%, 1/11/16   1,257,874
  USD 1,114   Penton Media Term Loan, 4.954% - 5.372%, 2/15/13   846,450
    1,000   Penton Media Term Loan, 7.704%, 2/15/14   705,000
  EUR 500   ProSiebenSat 1 Media AG Term Loan B, 6.77%, 6/28/15   566,942
    1,000   ProSiebenSat 1 Media AG Term Loan C, 7.02%, 6/28/15   1,140,651
  USD 735   Quebecor Media, Inc. Term Loan B, 6.258%, 1/17/13   681,713
    993   RCN Corp. Term Loan B, 5%, 5/25/14   842,798
    1,697   RH Donnelley, Inc. Term Loan D-2, 4.10% - 4.75%, 8/30/11   1,575,696
    1,687   San Juan Cable Term Loan B, 9.47%, 3/15/13   1,406,159
    1,990   Thomson Learning Inc. Term Loan, 5.20%, 6/30/14   1,706,674
  EUR 7,835   United Pan Europe Communications Term Loan M,    
        6.361%, 11/19/37   10,508,554
  USD 5,415   Univision Communications, Inc. First Lien Term Loan,    
        5.494%, 9/30/14   4,254,283
    500   Univision Communications, Inc. Second Lien Term Loan,    
        5.204%, 3/15/09 (c)   470,000
    1,684   Wallace Theater Corp. First Lien Term Loan,    
        5.95%, 8/09/09   1,482,250
    2,500   Wallace Theater Corp. Second Lien Term Loan,    
        9.70%, 8/09/09   2,200,000
  EUR 2,500   Yell Group Plc Term Loan B, 6.379%, 4/30/11   3,188,211
 
             121,121,758
Metals & Mining -
  USD 709   Algoma Steel Term Loan B, 7.33%, 6/14/14   623,578
0.4%
    782   Compass Minerals Group, Inc. Term Loan,    
        4.18% - 6.592%, 12/22/12   749,238
 
             1,372,816
Multi-Utilities - 1.5%
127   Coleto Creek Letter of Credit, 2.596%, 7/31/13   110,032
    1,817   Coleto Creek Term Loan B, 5.446% - 5.454%, 7/31/13   1,569,734
    70   MACH Gen LLC Letter of Credit, 2.446%, 2/22/14   64,863
    670   MACH Gen LLC Term Loan, 5.10%, 2/22/14   618,244
    159   NE Energy Letter of Credit, 5.196%, 10/03/13   133,369
    750   NE Energy Second Lien Term Loan, 7.125%, 10/31/14   597,500
    1,290   NE Energy Term Loan B, 5.04%, 10/31/13   1,085,631
    468   Wolf Hollow I LP First Lien Term Loan, 4.946%, 6/22/12   393,044
    400   Wolf Hollow I LP Letter of Credit, 4.954%, 6/22/12   336,000
    100   Wolf Hollow I LP Revolving Credit,    
        4.808% - 4.953%, 6/22/12   80,000
    500   Wolf Hollow I LP Second Lien Term Loan, 7.171%, 12/22/12   410,000
 
             5,398,417

11

BlackRock Global Floating Rate Income Trust
   
Schedule of Investments as of March 31, 2008 (Unaudited)
(Percentages shown are based on Net Assets)
    Par        
Industry
   
(000)
  Floating Rate Loan Interests   Value
Multiline Retail -
 
USD
1,440   Neiman Marcus Group, Inc. Term Loan, 6.90%, 4/06/13
$
1,329,390
0.4%
             
Oil, Gas &
    550   Big West Oil & Gas Delay Draw Term Loan, 5.066%, 5/15/14   506,000
Consumable Fuels -
    443   Big West Oil & Gas Term Loan B, 5%, 5/15/14   407,100
1.9%
    32   CR Gas Storage Bridge Loan, 4.55%, 5/08/11   29,678
    51   CR Gas Storage Delay Draw Term Loan, 4.60%, 5/08/13   47,986
    458   CR Gas Storage Term Loan, 4.534%, 5/08/13   428,763
    76   CR Gas Storage Term Loan B, 4.589%, 5/08/13   70,840
    324   Coffeyville Resources LLC Letter of Credit,    
        2.598%, 12/21/13   298,378
    1,055   Coffeyville Resources LLC Term Loan B,    
        5.448% - 7%, 12/21/13   970,682
    1,500   Drummond Oil Term Loan B, 4%, 2/15/12   1,470,000
    823   MAPCO, Inc. Term Loan, 6.01%, 4/28/11   760,999
    1,400   SandRidge Energy, Inc. Term Loan, 6.323%, 3/01/15   1,379,000
    922   Western Refining Co. LP Term Loan B, 4.994%, 3/15/14   793,734
 
            7,163,160
Paper & Forest
    1,000   Boise Cascade Holdings LLC Second Lien Term Loan,    
Products - 2.1%
        7.50%, 2/05/15   995,625
    32   Cenveo, Inc. Delay Draw Term Loan, 4.349%, 9/07/13   28,226
    952   Cenveo, Inc. Term Loan C, 4.349%, 9/07/13   847,104
    4,289   Georgia-Pacific Corp. First Lien Term Loan B,    
        4.446% - 4.483%, 2/14/13   3,968,177
    1,500   NewPage Corp. Tem Loan B, 6.313%, 12/07/14   1,463,750
    750   Verso Paper Holdings LLC Term Loan B, 9.489%, 2/01/13   663,750
 
            7,966,632
Personal Products -
    750   American Safety Razor Co. Second Lien Term Loan,    
0.6%
        8.89% - 8.93%, 1/25/14   645,000
    1,607   Prestige Brands Term Loan B1, 6.968% - 7.093%, 10/06/10   1,510,487
 
            2,155,487
Pharmaceuticals -
 
EUR
2,481   Pharmaceutical Technologies & Services (PTS) Term Loan,    
1.7%
 
    6.978%, 4/15/14   3,427,628
 
USD
2,174   Warner Chilcott Term Loan B, 4.696% - 4.704%, 1/18/12   1,998,407
 
826   Warner Chilcott Term Loan C, 4.696% - 4.704%, 1/30/13   759,611
 
            6,185,646
Real Estate Management
2,000   Enclave First Lien Term Loan, 6.14%, 3/01/12   1,788,250
& Development - 1.6%
2,000   Georgian Towers Term Loan, 6.14%, 3/01/12   1,746,596

12

BlackRock Global Floating Rate Income Trust
   
Schedule of Investments as of March 31, 2008 (Unaudited)
(Percentages shown are based on Net Assets)
    Par        
Industry
   
(000)
  Floating Rate Loan Interests   Value
  USD 750   Pivotal Promontory Second Lien Term Loan, 12%, 8/11/11
$
187,500
    1,985   Realogy Corp. Term Loan B, 5.71%, 9/22/14   1,603,300
    735   Yellowstone Club Term Loan B, 5.079%, 10/15/10   652,679
 
            5,978,325
Road & Rail - 0.7%
    1,750   Rail America, Inc. Term Loan, 5.32%, 10/15/08   1,662,500
    1,477   Swift Transportation Co., Inc. Term Loan B, 6.50%, 5/15/14   1,099,647
 
            2,762,147
Semiconductors &
    984   Marvell Technology Group Term Loan B, 5.196%, 11/15/09   925,313
Semiconductor
             
Equipment - 0.2%
             
Service - 0.2%
    1,000   Sally Beauty Co., Inc. Term Loan B, 5.60%, 11/16/13   924,167
Software - 0.4%
    985   Bankruptcy Management Solutions, Inc. First Lien Term Loan,    
        6.71%, 7/06/12   871,725
    493   Bankruptcy Management Solutions, Inc. Second Lien Term Loan,    
        8.954%, 7/06/13   352,137
    414   CCC Information Services, Inc. Term Loan B,    
        4.91%, 2/10/13   380,437
 
            1,604,299
Specialty Retail -
    2,484   ADESA, Inc. Term Loan B, 4.95%, 10/30/13   2,204,323
2.3%
    517   Burlington Coat Factory Warehouse Corp. Term Loan B, 5.34%,    
        4/15/13   429,249
    744   Claire's Stores Term Loan B, 5.446% - 5.994%, 5/24/14   566,905
    1,500   Orchard Supply Hardware Term Loan B, 7.478%, 12/21/13   1,110,000
    395   Petco Animal Supplies, Inc. Term Loan, 4.954% - 5.494%,   350,859
    1,291   Rent-A-Center Term Loan B, 4.47% - 7.15%, 6/30/12   1,181,482
  EUR 1,474   Sensata Technologies Term Loan, 6.321% - 6.383%, 4/27/13   2,032,971
  USD 975   Sensata Technologies Term Loan B, 5.056%, 4/27/13   841,409
 
            8,717,198
Textiles, Apparel &
    990   David's Bridal, Inc. Term Loan B, 4.696%, 1/30/14   841,500
Luxury Goods -
    1,000   Hanesbrands, Inc. First Lien Term Loan,    
0.7%
        4.424% - 4.994%, 10/15/13   957,031
    493   Renfro Corp. Term Loan B, 5.95% - 6.34%, 9/30/13   421,880
    250   Warnaco, Inc. Term Loan, 4.562% - 7%, 1/31/13   235,581
 
            2,455,992
Trading Companies
    1,231   Beacon Sales Co. Term Loan B, 4.688% - 5.085%, 10/31/13   1,040,406
& Distributors -
             
0.3%
             
Wireless
    2,169   Centennial Cellular Operating Co. Term Loan,    
Telecommunication
        4.696% - 5.085%, 2/09/11   2,070,419
Services - 1.3%
    500   IPC Systems Second Lien Term Loan, 7.946%, 5/31/15   346,667
    140   NG Wireless Delay Draw Term Loan, 0.50%, 11/12/37   133,356
    610   NG Wireless Term Loan, 5.446% - 5.454%, 7/31/14   579,144
    1,691   NTELOS Inc. Term Loan B, 4.96% - 5.20%, 8/14/11   1,599,181
 
            4,728,767
        Total Floating Rate Loan Interests    
 
        (Cost - $503,543,180) - 122.5%   455,870,159

13

BlackRock Global Floating Rate Income Trust
   
Schedule of Investments as of March 31, 2008 (Unaudited)
(Percentages shown are based on Net Assets)
 
Par
       
Industry
    
(000)
  Corporate Bonds   Value
Air Freight &
 
USD
125   Park-Ohio Industries, Inc., 8.375%, 11/15/14
$
98,750
Logistics - 0.0%
   
          
Auto
 
60   The Goodyear Tire & Rubber Co., 8.663%, 12/01/09 (d)   59,625
Components -
 
100   Lear Corp., 8.75%, 12/01/16   85,375
1.0%
 
120   Metaldyne Corp., 10%, 11/01/13   72,000
 
   
         217,000
Biotechnology -
 
1,750   Angiotech Pharmaceuticals, Inc., 6.826%, 12/01/13 (d)   1,338,750
0.4%
   
          
Building Products -
90   CPG International I, Inc., 10.50%, 7/01/13   75,600
0.0
 
130   Momentive Performance Materials, Inc., 11.50%, 12/01/16   98,963
 
   
         174,563
Capital Markets -
 
2,500   E*Trade Financial Corp., 12.50%, 11/30/17 (f)   2,450,000
1.2%
 
1,501   Marsico Parent Co., LLC, 10.625%, 1/15/16 (e)(f)   1,260,840
 
515   Marsico Parent Holdco, LLC, 12.50%, 7/15/16 (c)(e)(f)   437,750
 
343   Marsico Parent Superholdco, LLC, 14.50%, 1/15/18 (c)(e)(f)   294,980
 
   
         4,443,570
Chemicals - 0.7%
 
125   American Pacific Corp., 9%, 2/01/15   121,563
 
1,100   Ames True Temper, Inc., 6.713%, 1/15/12 (d)   913,000
 
10   Chemtura Corp., 6.875%, 6/01/16   8,900
 
750   Hercules, Inc., 6.75%, 10/15/29   705,000
 
EUR
225   Ineos Group Holdings Plc, 7.875%, 2/15/16 (f)   257,535
 
USD
625   Key Plastics LLC, 11.75%, 3/15/13 (f)   450,000
 
   
         2,455,998
Commercial Banks -
3,000   TuranAlem Finance B.V., 4.283%, 1/22/09 (d)(f)   2,807,400
0.8%
   
          
Commercial
 
397   DI Finance Series B, 9.50%, 2/15/13   405,933
Services &
 
         
Supplies - 0.1%
   
          
Containers &
 
500   Berry Plastics Holding Corp., 6.675%, 9/15/14 (d)   395,000
Packaging - 0.2%
 
110   Berry Plastics Holding Corp., 8.875%, 9/15/14   95,975
 
150   Impress Holdings BV, 5.838%, 9/15/13 (d)(f)   124,500
 
   
         615,475
Diversified
 
310   Cincinnati Bell, Inc., 7.25%, 7/15/13   304,575
Telecommunication
784   Qwest Communications International, Inc., 6.565%, 2/15/09 (d)   776,160
Services - 0.9%
 
2,500   Qwest Corp., 6.05%, 6/15/13 (d)   2,250,000
 
150   Wind Acquisition Finance SA, 10.75%, 12/01/15 (f)   153,000
 
   
         3,483,735
Electrical
 
140   Superior Essex Communications LLC, 9%, 4/15/12   134,750
Equipment - 0.0%
   
          
Electronic
 
55   Sanmina-SCI Corp., 6.75%, 3/01/13   47,713
Equipment &
 
1,065   Sanmina-SCI Corp., 8.125%, 3/01/16   942,525
Instruments - 0.3%
        990,238
Energy Equipment
 
70   Compagnie Generale de Geophysique-Veritas, 7.50%, 5/15/15   71,050
& Services - 0.1%
 
50   Compagnie Generale de Geophysique-Veritas, 7.75%, 5/15/17   50,750
 
40   Grant Prideco, Inc. Series B, 6.125%, 8/15/15   40,900

14

BlackRock Global Floating Rate Income Trust
   
Schedule of Investments as of March 31, 2008 (Unaudited)
(Percentages shown are based on Net Assets)
   
Par
        
Industry
   
(000)  
Corporate Bonds
   Value
 
USD
 220   SemGroup LP, 8.75%, 11/15/15 (f)
$
201,300
 
            364,000
Health Care
    1,500   ReAble Therapeutics Finance LLC, 10.875%, 11/15/14 (f)   1,410,000
Equipment &
             
Supplies - 0.4%
             
Health Care
    250   Tenet Healthcare Corp., 6.50%, 6/01/12   220,625
Providers &
             
Services - 0.1%
             
Hotels,
    140   American Real Estate Partners LP, 7.125%, 2/15/13   127,050
Restaurants &
    130   Greektown Holdings, LLC, 10.75%, 12/01/13 (f)   118,300
Leisure - 0.1%
    300   Universal City Florida Holding Co. I, 7.989%, 5/01/10 (d)   291,000
    20   Wynn Las Vegas LLC, 6.625%, 12/01/14   19,250
 
            555,600
Household Durables
    400   Berkline/BenchCraft, LLC, 8.487%, 11/03/12 (a)(c)   0
- 0.0%              
Independent Power
    87   AES Ironwood LLC, 8.875%, 11/30/25   94,699
Producers & Energy
             
Traders - 0.0%
             
Machinery - 0.0%
    210   Sunstate Equipment Co. LLC, 10.50%, 4/01/13 (f)   161,700
Media - 1.2%
    50   Affinion Group, Inc., 9.267%, 10/15/13   49,688
    100   Cablevision Systems Corp. Series B, 7.133%, 4/01/09 (d)   99,250
    445   Charter Communications Holdings I, LLC, 11%, 10/01/15   309,275
    580   Charter Communications Holdings II, LLC, 10.25%, 9/15/10   527,800
    45   Charter Communications Holdings II, LLC, Series B,    
        10.25%, 9/15/10   40,838
    135   EchoStar DBS Corp., 6.375%, 10/01/11   129,600
    158   EchoStar DBS Corp., 7%, 10/01/13   148,915
    230   EchoStar DBS Corp., 7.125%, 2/01/16   214,475
    50   Intelsat Subsidiary Holding Co. Ltd., 8.25%, 1/15/13   50,375
    180   Intelsat Subsidiary Holding Co. Ltd., 8.625%, 1/15/15   181,350
    410   Nielsen Finance LLC, 10%, 8/01/14   407,950
    350   Paxson Communications Corp., 5.963%, 1/15/12 (d)(f)   283,500
    1,000   R.H. Donnelley Corp., 8.875%, 10/15/17 (f)   625,000
    250   R.H. Donnelley Corp. Series A-3, 8.875%, 1/15/16   158,125
    750   Rainbow National Services LLC, 8.75%, 9/01/12 (f)   766,875
    977   Windstream Regatta Holdings, Inc., 11%, 12/01/17 (f)   595,970
 
            4,588,986
Metals & Mining -
    495   AK Steel Corp., 7.75%, 6/15/12   499,331
0.9%
    2,000   Alrosa Finance SA, 8.125%, 5/06/08   1,999,822
    504   Foundation PA Coal Co., 7.25%, 8/01/14   499,950
    250   Freeport-McMoRan Copper & Gold, Inc., 5.883%, 4/01/15 (d)   245,625
 
            3,244,728
Oil, Gas &
    135   Chaparral Energy, Inc., 8.50%, 12/01/15   117,450
Consumable Fuels -
    720   KCS Energy, Inc., 7.125%, 4/01/12   680,400
8.2%
    14,430   Morgan Stanley Bank AG for OAO Gazprom, 9.625%, 3/01/13   16,206,333
    404   Pemex Project Funding Master Trust, 9.375%, 12/02/08   421,170
    12,700   Pemex Project Funding Master Trust, 6.058%, 10/15/09   12,852,400

15

BlackRock Global Floating Rate Income Trust
   
Schedule of Investments as of March 31, 2008 (Unaudited)
(Percentages shown are based on Net Assets)
      Par        
Industry
   
(000)
 
Corporate Bonds
   Value
  USD 300   Whiting Petroleum Corp., 7.25%, 5/01/13
$
295,500
 
             30,573,253
Paper & Forest
    1,000   Abitibi-Consolidated, Inc., 6.30%, 6/15/11 (d)   510,000
Products - 2.2%
    900   Ainsworth Lumber Co. Ltd., 6.446%, 10/01/10 (d)   594,000
    100   Ainsworth Lumber Co. Ltd., 7.25%, 10/01/12   57,500
    2,040   Bowater, Inc., 5.80%, 3/15/10 (d)   1,468,800
    20   Domtar Corp., 7.125%, 8/15/15   18,850
  EUR 2,400   Lecta SA, 7.20%, 2/15/14 (d)(f)   2,841,761
  USD 1,500   NewPage Corp., 9.489%, 5/01/12 (d)   1,485,000
    1,215   Verso Paper Holdings LLC Series B, 6.989%, 8/01/14 (d)   1,026,675
 
             8,002,586
Real Estate
    6,350   Rouse Co. LP, 5.375%, 11/26/13   4,970,812
Investment Trusts
             
(REITs) - 1.3%
             
Road & Rail - 0.0%
    150   Avis Budget Car Rental LLC, 5.565%, 5/15/14 (d)   117,750
Semiconductors &
    180   Freescale Semiconductor, Inc., 6.675%, 12/15/14 (c)   131,400
Semiconductor
             
Equipment - 0.0%
             
Specialty Retail -
    70   AutoNation, Inc., 4.713%, 4/15/13 (d)   57,400
0.3%
    60   AutoNation, Inc., 7%, 4/15/14   53,250
    500   General Nutrition Centers, Inc., 7.199%, 3/15/14 (c)(d)   417,087
    380   Lazy Days' R.V. Center, Inc., 11.75%, 5/15/12   302,100
    210   Michaels Stores, Inc., 10%, 11/01/14   183,750
 
             1,013,587
Tobacco - 0.6%
    2,000   Reynolds American, Inc., 7.625%, 6/01/16   2,104,328
Wireless
    1,250   Centennial Communications Corp., 8.448%, 1/01/13 (d)   1,087,500
Telecommunication
1,754   iPCS, Inc., 5.364%, 5/01/13 (d)   1,351,350
Services - 1.3%
  EUR 1,500   Nordic Telephone Co. Holdings ApS, 10.107%, 5/01/16 (d)   2,243,807
 
             4,682,657
               
        Total Corporate Bonds    
 
         (Cost - $84,836,854) - 21.4%   79,402,873
 
         Foreign Government Obligations    
  USD 9,436   Brazilian Government International Bond, 8.446%, 6/29/09 (d)   9,953,925
    476   Brazilian Government International Bond, 10.25%, 6/17/13   593,750
    2,400   Chile Government International Bond, 6.875%, 4/28/09 (h)   2,498,640
    1,200   Colombia Government International Bond,    
        8.541%, 3/17/13 (d)   1,266,000
    3,200   Costa Rica Government International Bond,    
        9.335%, 5/15/09   3,356,800
    1,600   Islamic Republic of Pakistan, 6.75%, 2/19/09   1,577,331
    800   Malaysia Government International Bond, 8.75%, 6/01/09   849,434
  MXN 13,520   Mexican Bonos Series M, 9%, 12/22/11   1,340,218
  USD 4,800   Mexico Government International Bond, 3.41%, 1/13/09 (d)   4,804,800
    2,000   Panama Government International Bond, 8.25%, 4/22/08   1,997,500
    2,400   Philippine Government International Bond, 8.875%, 4/15/08   2,407,200

16

BlackRock Global Floating Rate Income Trust
     
Schedule of Investments as of March 31, 2008 (Unaudited)
(Percentages shown are based on Net Assets)
 
 
       
Par
(000)
  Foreign Government Obligations   Value  
  USD   4,000   Republic of Venezuela, 6.18%, 4/20/11 (d)
$
3,380,000  
      2,400   South Africa Government International Bond,      
          7.375%, 4/25/12   2,598,000  
      2,735   Turkey Government International Bond, 7%, 9/26/16   2,776,024  
      16,100   Ukraine Government International Bond,      
          6.391%, 8/05/09 (d)(f)   16,362,430  
      2,800   Ukraine Government International Bond,      
          6.875%, 3/04/11 (f)   2,884,000  
  
  EUR     950   Uruguay Government International Bond, 6.875%, 1/19/16   1,514,816  
         
Total Foreign Government Obligations
      
 
          (Cost - $59,610,060) - 16.2%   60,160,868  
Industry
        Shares   Common Stocks      
Capital Markets -
      121,011   E*Trade Financial Corp. (g)   467,102  
0.1%
                 
 
          Total Common Stocks (Cost - $548,614) - 0.1%   467,102  
 
          Preferred Stocks      
Capital Markets -
          Marsico Parent Superholdco, LLC, 16.75% (e)(f)   89,000  
0.0%
                 
 
          Total Preferred Stocks (Cost - $94,286) - 0.0%   89,000  
      Beneficial          
      Interest          
 
     
(000)
  Other Interests (b)      
Health Care
  USD   947   Critical Care Systems International, Inc.   318  
Services - 0.0%
                 
Household Durables
  6,155   Berkline Benchcraft Equity LLC (a)   0  
0.0%
                 
 
          Total Other Interests (Cost - $0) - 0.0%   318  
 
        Contracts   Options Purchased      
Call Options Purchased
  26   Marsico Parent Superholdco LLC, expiring December 2009      
 
          at USD 942.86 (e)   44,850  
          Total Options Purchased      
 
          (Premiums Paid - $25,422) - 0.0%   44,850  
          Total Investments (Cost - $648,658,415*) - 160.2%   596,035,170  
          Other Assets Less Liabilities - 5.3%   19,616,230  
          Preferred Shares, at Redemption Value - (65.5%)   (243,591,057 )
          Net Assets Applicable to Common Shares - 100.0%
$
372,060,343  

17

BlackRock Global Floating Rate Income Trust
Schedule of Investments as of March 31, 2008 (Unaudited) (Percentages shown are based on Net Assets)
   
*     

The cost and unrealized appreciation (depreciation) of investments as of March 31, 2008, as computed for federal income tax purposes, were as follows:
 
  Aggregate cost $ 648,658,415  
  Gross unrealized appreciation $ 9,293,147  
  Gross unrealized depreciation   (61,916,392 )
  Net unrealized depreciation $ (52,623,245 )

(a)     

Non-income producing security; issuer filed for bankruptcy or is in default of interest payments.
 
(b)     

Other interests represent beneficial interest in liquidation trusts and other reorganization entities and are non-income producing.
 
(c)     

Represents a pay-in-kind security which may pay interest/dividends in additional face/shares.
 
(d)     

Floating rate security. Rate shown as of report date.
 
(e)     

Security is illiquid.
 
(f)     

Security exempt from registration under Rule 144 A of the Sec of 1933. These securities may be resold in transactions exempt from registration to qualified institutional investors. Unless otherwise indicative these securities are not considered to be illiquid.
 
(g)     

Non-income producing security
 
(h)     

All or a portion of security held as collateral in connection with open reverse repurchase agreements.
 
    Interest    
Maturity
 
Net Closing
   
  
 
  Counterparty
Rate
 
Trade Date
Date
 
Amount
   
Face Amount
 
  Lehman Brothers    
 
 
  International
2.50%
3/31/08
4/01/08
 
$
830,378
$
830,320  
  Lehman Brothers
 
 
  International 2.50%   3/31/08 4/02/08   $ 1,331,708     $ 1,331,616  
 
  Swaps outstanding as of March 31, 2008 were as follows:
   
 
 
 
 
 
       
  Notional  
  
 
       
  Amount
Unrealized
 
             
(000)
     Depreciation  
  Sold credit default protection on Pagesjaunes SA                
  and receive 2.10%                
  Broker, Lehman Brothers Special Financing                
  Expires March 2012      
EUR 2,000
   $ (227,762 )
 
  Sold credit default protection on BAA Ferovial Junior                
  Term Loan and receive 2%                
  Broker, Deutsche Bank AG London                
  Expires June 2012      
GBP 1,800
     (323,349 )
  Total               $ (551,111 )

18

 

BlackRock Global Floating Rate Income Trust
Schedule of Investments as of March 31, 2008 (Unaudited)		 (Percentages shown are based on Net Assets)
•   Forward foreign exchange contracts as of March 31, 2008 were as follows:  
                     
                  Unrealized  
              Settlement   Appreciation  
  Currency Purchased  
Currency Sold
Date
  (Depreciation)  
   EUR 830,000   USD 1,295,725   4/23/2008 $ 13,626  
   GBP 1,205,000   USD 2,412,784   4/23/2008   (25,231 )
   USD 121,374,732   EUR 82,793,132   4/23/2008   (9,234,066 )
   USD 20,645,031   GBP 10,507,500   4/23/2008   (174,226 )
   USD 1,000,441   MXN 11,028,000   4/23/2008   (32,557 )
  Total Unrealized Depreciation on Forward Foreign            
  Exchange Contracts - Net         $ (9,452,454 )
•   Currency Abbreviations:                
   EUR Euro                
   GBP British Pound                
   MXN Mexican Peso                
   USD U.S. Dollar                

19

BlackRock Global Floating Rate Income Trust

•  

Effective January 1, 2008, the BlackRock Global Floating Rate Income Trust (the “Trust”) adopted FASB Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). FAS 157 clarifies the definition of fair value, establishes a framework for measuring fair values and requires additional disclosures about the use of fair value measurements. Various inputs are used in determining the fair value of investments, which are as follows:
 
  •  

Level 1 – price quotations in active markets/exchanges for identical securities
 
  •  

Level 2 – other observable inputs (including, but not limited to: quoted prices for 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 circumstance, to the extent observable inputs are not available (including the Trust’s own assumptions used in determining the fair value of investments)
 
 

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For information about the Trust’s policy regarding valuation of investments and other significant accounting policies, please refer to the Trust’s most recent financial statements as contained in its annual report.
 

The following table summarizes the inputs used as of March 31, 2008 in determining the fair valuation of the Trust’s investments:

Valuation
 
 
Investments in
     Other Financial
Inputs
   
 
Securities
     Instruments*
Level 1
    $ 467,102       $(9,452,454 )
Level 2
      593,547,546       (506,261 )
Level 3
      1,975,673       0  
Total
    $ 595,990,321       $(9,958,715 )

*Other financial instruments are derivative instruments such as options, swaps and forward foreign exchange contracts.

The following is a reconciliation of investments for unobservable inputs (Level 3) were used in determining fair value:

     
 
Investments in
      
       
 
Securities
      
  Balance, as of December 31, 2007       0      
  Accrued discounts/premiums       0      
  Realized gain (loss)       0      
  Change in unrealized appreciation              
  (depreciation)     $ (99,242
)
    
  Net purchases (sales)       2,074,915      
  Net transfers in/out of Level 3       0      
  Balance, as of March 31, 2008     $ 1,975,673      

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 Global Floating Rate Income Trust
 
By:
/s/ Donald C. Burke
  Donald C. Burke
  Chief Executive Officer of
  BlackRock Global Floating Rate Income Trust
 
Date: May 22, 2008

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/ Donald C. Burke
  Donald C. Burke
  Chief Executive Officer (principal executive officer) of
  BlackRock Global Floating Rate Income Trust
 
Date: May 22, 2008
 
By:
/s/ Neal J. Andrews
  Neal J. Andrews
  Chief Financial Officer (principal financial officer) of
  BlackRock Global Floating Rate Income Trust
 
Date: May 22, 2008