By Cristal Cody
Chicago, Sept. 10 – Blackstone Private Credit Fund sold $1.27 billion of notes (Baa3) in two parts, according to a market source.
The firm sold $365 million of 1.75% three-year notes with a Treasuries plus 140 basis points spread. Initial price talk for the tranche was in the 175 bps area.
The firm also sold $900 million of 2.625% notes due Dec. 15, 2026, priced with a spread of Treasuries plus 195 bps. Initial price talk for the spread was in the 220 bps area.
Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Wells Fargo Securities LLC are bookrunners for the Rule 144A and Regulation S offer.
The investment and advisory firm based in New York.
| Issuer: | Blackstone Private Credit Fund
|
| Issue: | Notes
|
| Amount: | $1,265,000,000
|
| Bookrunners: | Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Wells Fargo Securities LLC
|
| Trade date: | Sept. 10
|
| Ratings: | Moody’s: Baa3
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| 2024 notes
|
| Amount: | $365 million
|
| Maturity: | Sept. 15, 2024
|
| Coupon: | 1.75%
|
| Spread: | Treasuries plus 140 bps
|
| Price talk: | Treasuries plus 175 bps area
|
|
|
| 2026 notes
|
| Amount: | $900 million
|
| Maturity: | Dec. 15, 2026
|
| Coupon: | 2.625%
|
| Spread: | Treasuries plus 195 bps
|
| Price talk: | Treasuries plus 220 bps area
|
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