By Wendy Van Sickle and Cristal Cody
Columbus, Ohio, Jan. 3 – Blackstone Group Inc. subsidiary Blackstone Holdings Finance Co. LLC priced $1.5 billion of guaranteed senior notes, according to a press release.
The company priced $500 million of 2.55% notes due March 30, 2032. They priced at 99.752 to yield 2.578%, or with a spread over Treasuries plus 95 basis points. The notes had been launched at 95 bps over Treasuries, tighter than initial talk that was in the Treasuries plus 120 bps area, a market source told Prospect News.
The issuer sold $1 billion of 3.2% notes due Jan. 30, 2052. Pricing at 99.711, the notes yield 3.215%, or have a spread of Treasuries plus 120 bps. The notes were launched at 120 bps over Treasuries after initial talk in the 145 bps area over Treasuries.
Bookrunners are BofA Securities Inc., Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, Wells Fargo Securities LLC and Blackstone.
The notes will be guaranteed by the company and its subsidiaries Blackstone Holdings I LP, Blackstone Holdings AI LP, Blackstone Holdings II LP, Blackstone Holdings III LP and Blackstone Holdings IV LP.
Proceeds of the Rule 144A and Regulation S offering will be used for general corporate purposes.
Blackstone is a New York-based investment firm.
| Issuer: | Blackstone Holdings Finance Co. LLC
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| Guarantors: | Blackstone Group Inc., Blackstone Holdings I LP, Blackstone Holdings AI LP, Blackstone Holdings II LP, Blackstone Holdings III LP and Blackstone Holdings IV LP
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| Amount: | $1.5 billion
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| Issue: | Guaranteed senior notes
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| Bookrunners: | BofA Securities Inc., Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, Wells Fargo Securities LLC and Blackstone
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| Pricing date: | Jan. 3
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| Distribution: | Rule 144A and Regulation S
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| 2032 notes
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| Amount: | $500 million
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| Maturity: | March 30, 2032
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| Coupon: | 2.55%
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| Price: | 99.752
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| Yield: | 2.578%
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| Spread: | Treasuries plus 95 bps
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| Talk: | Launched at Treasuries plus 95 bps; initial talk Treasuries plus 120 bps area
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| 2052 notes
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| Amount: | $1 billion
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| Maturity: | Jan. 30, 2052
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| Coupon: | 3.2%
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| Price: | 99.711
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| Yield: | 3.215%
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| Spread: | Treasuries plus 120 bps
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| Talk: | Launched at Treasuries plus 120 bps; initial talk Treasuries plus 145 bps area
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