Blackstone Private Credit upsizes facilities, extends maturity

By Mary-Katherine Stinson

Lexington, Ky., May 12 – Blackstone Private Credit Fund amended and restated its senior secured credit facility to upsize total commitments to up to $7 billion and extend the maturity of its credit facilities on May 6, according to an 8-K filing with the Securities and Exchange Commission.

The agreement increased the revolving credit commitments to $5.15 billion from $3 billion and increased the accordion feature, which could bring total commitments to up to $7 billion from up to $5 billion subject to the satisfaction of certain conditions.

The revolver availability period was extended by one year to May 2026 and the scheduled maturity date was also extended by one year to May 2027.

Other changes included the replacement of Libor with SOFR including applicable spread adjustments and the resetting of the shareholders’ equity test.

Citibank, NA is the administrative agent.

Citibank, NA, Barclays, BNP Paribas, Deutsche Bank Securities Inc., ING Capital LLC, JPMorgan Chase Bank, NA, Morgan Stanley Senior Funding, Inc., MUFG Union Bank, NA, RBC Capital Markets, Sumitomo Mitsui Banking Corp., Toronto-Dominion Bank New York Branch, Truist Securities, Inc. and Wells Fargo NA are the joint lead bookrunners and joint lead arrangers.

MUFG Union Bank, NA, Sumitomo Mitsui Banking Corp., Barclays, BNP Paribas, Deutsche Bank AG New York Branch, ING Capital LLC, JPMorgan Chase Bank, NA, Morgan Stanley Bank, NA, Morgan Stanley Senior Funding, Inc., Royal Bank of Canada, Toronto-Dominion Bank New York Branch, Truist Bank, Wells Fargo, NA, Bank of America, NA, HSBC Bank USA, NA, Mizuho Bank, Ltd., Regions Bank, State Street Bank and Trust Co., Goldman Sachs Bank USA, Societe Generale, the Bank of Nova Scotia, Capital One, NA, Bank of New York Mellon, Canadian Imperial Bank of Commerce, Credit Suisse AG New York Branch, Natixis New York Branch, U.S. Bank, NA and Stifel Bank & Trust join Citibank as lenders on the agreement.

The investment and advisory firm is based in New York.

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