Summary
Blackstone Inc. (BX), formerly The Blackstone Group L.P., filed an 8-K on April 12, 2011, reporting an amendment to its material definitive agreement. Specifically, on April 8, 2011, Blackstone Holdings Finance Co. L.L.C., an indirect subsidiary, entered into a First Amendment to its $1.020 billion revolving credit facility. This amendment primarily extended the maturity date of the credit facility from March 23, 2013, to April 8, 2016. Additionally, it introduced a corporate ratings-based pricing grid, which will affect the commitment fee and interest rate margin going forward. The total borrowing capacity of the facility remains unchanged at $1.020 billion. This extension provides Blackstone with greater financial flexibility and a longer runway for its credit arrangements.
Key Highlights
- 1Blackstone amended its $1.020 billion revolving credit facility.
- 2The maturity date of the credit facility was extended from March 23, 2013, to April 8, 2016.
- 3The amendment provides an additional three years of maturity on the facility.
- 4A corporate ratings-based pricing grid was added, impacting future interest rates and fees.
- 5The total amount available under the credit facility remains $1.020 billion.
- 6The amendment was entered into by Blackstone Holdings Finance Co. L.L.C. and guaranteed by other indirect subsidiaries.
- 7The filing confirms the credit facility amendment as a material definitive agreement.