Blackstone prices tender offer for $600 million 6.625% notes due 2019

By Angela McDaniels

Tacoma, Wash., Sept. 29 – Blackstone Holdings Finance Co. LLC will pay $1,085.15 per $1,000 principal amount of 6.625% senior notes due 2019 in its tender offer, according to a news release from Blackstone Group LP.

The tender offer for the $600 million of notes began Sept. 25 and was slated to end at 5 p.m. ET on Sept. 29.

Pricing was set at 11 a.m. ET on Sept. 29 using a spread of 50 basis points over the 1.25% Treasury due Aug. 31, 2019.

Holders will also receive accrued interest up to but excluding the settlement date, which is expected to be Oct. 2.

Completion of the tender is subject to conditions including the execution of a debt financing transaction.

Blackstone plans to redeem any notes that remain outstanding after the tender.

BofA Merrill Lynch (888 292-0070 or 980 387-3907), Citigroup (800 558-3745 or 212 723-6106) and Morgan Stanley (800 624-1808 or 212 761-1057) are lead dealer managers. Global Bondholder Services Corp. (212 430-3774 or 866 470-3700) is depositary and information agent.

Blackstone is a New York-based investment manager.

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