By Wendy Van Sickle
Columbus, Ohio, Sept. 3 – Blackstone Holdings Finance Co. LLC priced $900 million of senior notes (/A+/A+/) in two tranches on Tuesday, according to a press release.
Blackstone priced $500 million of 2.5% senior notes due 2030.
It also priced $400 million of 3.5% senior notes due 2049.
The notes will be fully and unconditionally guaranteed by Blackstone Group LP and its indirect subsidiaries, Blackstone Holdings I LP, Blackstone Holdings II LP, Blackstone Holdings III LP and Blackstone Holdings IV LP.
Blackstone plans to use the proceeds from the offering, together with cash on hand or available liquidity, to repurchase any and all of its outstanding 5.875% senior notes due 2021 under a tender offer and to redeem any of the 2021 notes that remain outstanding after the tender offer.
Remaining proceeds will be used for general corporate purposes.
The notes were sold via Rule 144A and Regulation S.
The investment and advisory firm is based in New York City.
| Issuer: | Blackstone Holdings Finance Co. LLC
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| Guarantors: | Blackstone Group LP, Blackstone Holdings I LP, Blackstone Holdings II LP, Blackstone Holdings III LP, Blackstone Holdings IV LP
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| Amount: | $900 million
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| Description: | Senior notes
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| Trade date: | Sept. 3
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| Ratings: | Standard & Poor’s: A+
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| Fitch: A+
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| Distribution: | Rule 144A, Regulation S
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| 2030 notes
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| Amount: | $500 million
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| Maturity: | 2030
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| Coupon: | 2.5%
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| 2049 notes
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| Amount: | $400 million
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| Maturity: | 2049
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| Coupon: | 3.5%
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