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          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001287480_SeniorLoansRiskMember" xlink:to="lab_cik0001287480_SeniorLoansRiskMember" />
          <link:loc xlink:type="locator" xlink:href="cik0001287480-20251231.xsd#cik0001287480_VariableAndFloatingRateInstrumentRiskMember" xlink:label="loc_cik0001287480_VariableAndFloatingRateInstrumentRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001287480_VariableAndFloatingRateInstrumentRiskMember" xml:lang="en-US">Variable and Floating Rate Instrument Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001287480_VariableAndFloatingRateInstrumentRiskMember" xlink:to="lab_cik0001287480_VariableAndFloatingRateInstrumentRiskMember" />
          <link:loc xlink:type="locator" xlink:href="cik0001287480-20251231.xsd#cik0001287480_HighYieldBondsRiskMember" xlink:label="loc_cik0001287480_HighYieldBondsRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001287480_HighYieldBondsRiskMember" xml:lang="en-US">High Yield Bonds Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001287480_HighYieldBondsRiskMember" xlink:to="lab_cik0001287480_HighYieldBondsRiskMember" />
          <link:loc xlink:type="locator" xlink:href="cik0001287480-20251231.xsd#cik0001287480_ForeignSecuritiesRiskMember" xlink:label="loc_cik0001287480_ForeignSecuritiesRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001287480_ForeignSecuritiesRiskMember" xml:lang="en-US">Foreign Securities Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001287480_ForeignSecuritiesRiskMember" xlink:to="lab_cik0001287480_ForeignSecuritiesRiskMember" />
          <link:loc xlink:type="locator" xlink:href="cik0001287480-20251231.xsd#cik0001287480_EmergingMarketsRiskMember" xlink:label="loc_cik0001287480_EmergingMarketsRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001287480_EmergingMarketsRiskMember" xml:lang="en-US">Emerging Markets Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001287480_EmergingMarketsRiskMember" xlink:to="lab_cik0001287480_EmergingMarketsRiskMember" />
          <link:loc xlink:type="locator" xlink:href="cik0001287480-20251231.xsd#cik0001287480_SovereignDebtRiskMember" xlink:label="loc_cik0001287480_SovereignDebtRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001287480_SovereignDebtRiskMember" xml:lang="en-US">Sovereign Debt Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001287480_SovereignDebtRiskMember" xlink:to="lab_cik0001287480_SovereignDebtRiskMember" />
          <link:loc xlink:type="locator" xlink:href="cik0001287480-20251231.xsd#cik0001287480_DerivativesRiskMember" xlink:label="loc_cik0001287480_DerivativesRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001287480_DerivativesRiskMember" xml:lang="en-US">Derivatives Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001287480_DerivativesRiskMember" xlink:to="lab_cik0001287480_DerivativesRiskMember" />
          <link:loc xlink:type="locator" xlink:href="cik0001287480-20251231.xsd#cik0001287480_LeverageRiskMember" xlink:label="loc_cik0001287480_LeverageRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001287480_LeverageRiskMember" xml:lang="en-US">Leverage Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001287480_LeverageRiskMember" xlink:to="lab_cik0001287480_LeverageRiskMember" />
          <link:loc xlink:type="locator" xlink:href="cik0001287480-20251231.xsd#cik0001287480_ReverseRepurchaseAgreementsRiskMember" xlink:label="loc_cik0001287480_ReverseRepurchaseAgreementsRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001287480_ReverseRepurchaseAgreementsRiskMember" xml:lang="en-US">Reverse Repurchase Agreements Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001287480_ReverseRepurchaseAgreementsRiskMember" xlink:to="lab_cik0001287480_ReverseRepurchaseAgreementsRiskMember" />
          <link:loc xlink:type="locator" xlink:href="cik0001287480-20251231.xsd#cik0001287480_DollarRollsRiskMember" xlink:label="loc_cik0001287480_DollarRollsRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001287480_DollarRollsRiskMember" xml:lang="en-US">Dollar Rolls Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001287480_DollarRollsRiskMember" xlink:to="lab_cik0001287480_DollarRollsRiskMember" />
          <link:loc xlink:type="locator" xlink:href="cik0001287480-20251231.xsd#cik0001287480_IlliquidInvestmentsRiskMember" xlink:label="loc_cik0001287480_IlliquidInvestmentsRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001287480_IlliquidInvestmentsRiskMember" xml:lang="en-US">Illiquid Investments Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001287480_IlliquidInvestmentsRiskMember" xlink:to="lab_cik0001287480_IlliquidInvestmentsRiskMember" />
          <link:loc xlink:type="locator" xlink:href="cik0001287480-20251231.xsd#cik0001287480_RiskOfInvestingInTheUnitedStatesMember" xlink:label="loc_cik0001287480_RiskOfInvestingInTheUnitedStatesMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001287480_RiskOfInvestingInTheUnitedStatesMember" xml:lang="en-US">Risk of Investing in the United States [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001287480_RiskOfInvestingInTheUnitedStatesMember" xlink:to="lab_cik0001287480_RiskOfInvestingInTheUnitedStatesMember" />
          <link:loc xlink:type="locator" xlink:href="cik0001287480-20251231.xsd#cik0001287480_MarketRiskAndSelectionRiskMember" xlink:label="loc_cik0001287480_MarketRiskAndSelectionRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001287480_MarketRiskAndSelectionRiskMember" xml:lang="en-US">Market Risk and Selection Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001287480_MarketRiskAndSelectionRiskMember" xlink:to="lab_cik0001287480_MarketRiskAndSelectionRiskMember" />
          <link:loc xlink:type="locator" xlink:href="cik0001287480-20251231.xsd#cik0001287480_ShareholderActivismRiskMember" xlink:label="loc_cik0001287480_ShareholderActivismRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_cik0001287480_ShareholderActivismRiskMember" xml:lang="en-US">Shareholder Activism Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cik0001287480_ShareholderActivismRiskMember" xlink:to="lab_cik0001287480_ShareholderActivismRiskMember" />
        </link:labelLink>
      </link:linkbase>
    </appinfo>
  </annotation>
  <import namespace="http://xbrl.sec.gov/cef/2026" schemaLocation="https://xbrl.sec.gov/cef/2026/cef-2026.xsd" />
  <import namespace="http://xbrl.sec.gov/cef-pre/2026" schemaLocation="https://xbrl.sec.gov/cef/2026/cef-2026_pre.xsd" />
  <import namespace="http://www.xbrl.org/2003/instance" schemaLocation="http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd" />
  <import namespace="http://xbrl.org/2005/xbrldt" schemaLocation="http://www.xbrl.org/2005/xbrldt-2005.xsd" />
  <import namespace="http://www.xbrl.org/dtr/type/2024-01-31" schemaLocation="https://www.xbrl.org/dtr/type/2024-01-31/types.xsd" />
  <import namespace="http://xbrl.sec.gov/dei/2026" schemaLocation="https://xbrl.sec.gov/dei/2026/dei-2026.xsd" />
  <import namespace="http://www.xbrl.org/2003/linkbase" schemaLocation="http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" />
  <import namespace="http://www.xbrl.org/dtr/type/2020-01-21" schemaLocation="https://www.xbrl.org/dtr/type/2020-01-21/types.xsd" />
  <element name="CommonSharesMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="cik0001287480_CommonSharesMember" substitutionGroup="xbrli:item" />
  <element name="BankBorrowingsMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="cik0001287480_BankBorrowingsMember" substitutionGroup="xbrli:item" />
  <element name="InvestmentObjectivesMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="cik0001287480_InvestmentObjectivesMember" substitutionGroup="xbrli:item" />
  <element name="InvestmentObjectivesAndPoliciesMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="cik0001287480_InvestmentObjectivesAndPoliciesMember" substitutionGroup="xbrli:item" />
  <element name="PrincipalRisksMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="cik0001287480_PrincipalRisksMember" substitutionGroup="xbrli:item" />
  <element name="RiskFactorsMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="cik0001287480_RiskFactorsMember" substitutionGroup="xbrli:item" />
  <element name="IlliquidityRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="cik0001287480_IlliquidityRiskMember" substitutionGroup="xbrli:item" />
  <element name="MarketRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="cik0001287480_MarketRiskMember" substitutionGroup="xbrli:item" />
  <element name="ValuationRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="cik0001287480_ValuationRiskMember" substitutionGroup="xbrli:item" />
  <element name="CounterpartyCreditRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="cik0001287480_CounterpartyCreditRiskMember" substitutionGroup="xbrli:item" />
  <element name="GeographicAssetClassRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="cik0001287480_GeographicAssetClassRiskMember" substitutionGroup="xbrli:item" />
  <element name="InvestmentAndMarketDiscountRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="cik0001287480_InvestmentAndMarketDiscountRiskMember" substitutionGroup="xbrli:item" />
  <element name="DebtSecuritiesRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="cik0001287480_DebtSecuritiesRiskMember" substitutionGroup="xbrli:item" />
  <element name="MortgageAndAssetBackedSecuritiesRisksMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="cik0001287480_MortgageAndAssetBackedSecuritiesRisksMember" substitutionGroup="xbrli:item" />
  <element name="USGovernmentObligationsRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="cik0001287480_USGovernmentObligationsRiskMember" substitutionGroup="xbrli:item" />
  <element name="SeniorLoansRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="cik0001287480_SeniorLoansRiskMember" substitutionGroup="xbrli:item" />
  <element name="VariableAndFloatingRateInstrumentRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="cik0001287480_VariableAndFloatingRateInstrumentRiskMember" substitutionGroup="xbrli:item" />
  <element name="HighYieldBondsRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="cik0001287480_HighYieldBondsRiskMember" substitutionGroup="xbrli:item" />
  <element name="ForeignSecuritiesRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="cik0001287480_ForeignSecuritiesRiskMember" substitutionGroup="xbrli:item" />
  <element name="EmergingMarketsRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="cik0001287480_EmergingMarketsRiskMember" substitutionGroup="xbrli:item" />
  <element name="SovereignDebtRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="cik0001287480_SovereignDebtRiskMember" substitutionGroup="xbrli:item" />
  <element name="DerivativesRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="cik0001287480_DerivativesRiskMember" substitutionGroup="xbrli:item" />
  <element name="LeverageRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="cik0001287480_LeverageRiskMember" substitutionGroup="xbrli:item" />
  <element name="ReverseRepurchaseAgreementsRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="cik0001287480_ReverseRepurchaseAgreementsRiskMember" substitutionGroup="xbrli:item" />
  <element name="DollarRollsRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="cik0001287480_DollarRollsRiskMember" substitutionGroup="xbrli:item" />
  <element name="IlliquidInvestmentsRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="cik0001287480_IlliquidInvestmentsRiskMember" substitutionGroup="xbrli:item" />
  <element name="RiskOfInvestingInTheUnitedStatesMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="cik0001287480_RiskOfInvestingInTheUnitedStatesMember" substitutionGroup="xbrli:item" />
  <element name="MarketRiskAndSelectionRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="cik0001287480_MarketRiskAndSelectionRiskMember" substitutionGroup="xbrli:item" />
  <element name="ShareholderActivismRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="cik0001287480_ShareholderActivismRiskMember" substitutionGroup="xbrli:item" />
</schema>
