By Aleesia Forni
Virginia Beach, April 2 - Blackstone Holdings Finance Co. LLC priced an upsized $500 million issue of 5% 30-year bonds (A+/A+/) on Wednesday at Treasuries plus 145 basis points, according to a market source and a company release.
Pricing was at 98.588 to yield 5.091%.
The notes were sold via Rule 144A and Regulation S.
BofA Merrill Lynch, Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC were the bookrunners.
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 for general corporate purposes.
The investment and advisory firm is based in New York City.
| Issuer: | Blackstone Holdings Finance Co. LLC
|
| Guarantors: | Blackstone Group LP, Blackstone Holdings I LP, Blackstone Holdings II LP, Blackstone Holdings III LP, Blackstone Holdings IV LP
|
| Amount: | $500 million, upsized from $350 million
|
| Description: | Senior notes
|
| Maturity: | June 15, 2044
|
| Bookrunners: | BofA Merrill Lynch, Citigroup Global Markets Inc., Morgan Stanley & Co. LLC
|
| Coupon: | 5%
|
| Price: | 98.588
|
| Yield: | 5.091%
|
| Spread: | Treasuries plus 145 bps
|
| Trade date: | April 2
|
| Settlement date: | April 7
|
| Ratings: | Moody's: A+
|
| Standard & Poor's: A+
|
| Price talk: | Treasuries plus 150 bps to 155 bps
|
| Distribution: | Rule 144A, Regulation S
|
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