By Cristal Cody
Chicago, Jan. 11 – Blackstone Private Credit Fund sold $1.15 billion of bonds in two parts (BBB-) on Monday, according to information from a market source.
The company sold $500 million of three-year notes with a 2.7% coupon at a spread of 150 basis points over Treasuries. Pricing came 15 bps low to talk in the 165 bps area.
The second tranche priced as $650 million of 4% notes with a seven-year tenor at a spread of 240 bps over the relevant benchmark Treasury. Talk had also been 15 bps higher, in the 255 bps area.
Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, SMBC Nikko Securities America Inc., Truist Securities, Inc. and Wells Fargo Securities LLC are working as bookrunners for Blackstone.
The investment and advisory firm is based in New York.
| Issuer: | Blackstone Private Credit Fund
|
| Amount: | $1.15 billion
|
| Issue: | Notes
|
| Bookrunners: | Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, SMBC Nikko Securities America Inc., Truist Securities, Inc. and Wells Fargo Securities LLC
|
| Trade date: | Jan. 10
|
| Rating: | S&P: BBB-
|
|
|
| Three-year notes
|
| Amount: | $500 million
|
| Maturity: | Jan. 15, 2025
|
| Coupon: | 2.7%
|
| Spread: | Treasuries plus 150 bps
|
| Price talk: | Treasuries plus 165 bps area
|
|
|
| Seven-year notes
|
| Amount: | $650 million
|
| Maturity: | Jan. 15, 2029
|
| Coupon: | 4%
|
| Spread: | Treasuries plus 240 bps
|
| Price talk: | Treasuries plus 255 bps area
|
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