By Cristal Cody
Chicago, Nov. 16 – Blackstone Private Credit Fund sold $1.5 billion of notes in two parts on Monday, according to an 8-K filing with the Securities and Exchange Commission.
The firm sold $500 million of 2.35% notes due Nov. 22, 2024 with a 150 basis points spread over Treasuries and $1 billion of 3.25% notes due March 15, 2027 which priced at Treasuries plus 205 bps.
Spread talk on the 2024 notes was in the Treasuries plus 165 bps area. For the 2027 notes, talk was in the Treasuries plus 215 bps area.
The notes are redeemable at the issuer’s option at any time at par plus a make-whole premium.
Distribution is via Rule 144A and Regulation S.
Proceeds will be used for general corporate purposes.
The investment and advisory firm is based in New York.
| Issuer: | Blackstone Private Credit Fund
|
| Issue: | Notes
|
| Amount: | $1.5 billion
|
| Trade date: | Nov. 15
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| 2024 notes
|
| Amount: | $500 million
|
| Maturity: | Nov. 22, 2024
|
| Coupon: | 2.35%
|
| Spread: | Treasuries plus 150 bps
|
| Call features: | Make-whole call at any time
|
| Price talk: | Treasuries plus 165 bps area
|
|
|
| 2027 notes
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| Amount: | $1 billion
|
| Maturity: | March 15, 2027
|
| Coupon: | 3.25%
|
| Spread: | Treasuries plus 205 bps
|
| Call features: | Make-whole call at any time
|
| Price talk: | Treasuries plus 215 bps area
|
|
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