8-KMaterial AgreementsFinancial EventsOther Events+1

Blackstone Inc. 8-K Report, Material Agreement (Apr 27, 2015)

Filed April 27, 2015For Securities:BX

Summary

This 8-K filing from Blackstone Inc. (BX), filed on April 27, 2015, announces the completion of a significant debt offering. Blackstone successfully issued $350 million in 4.450% Senior Notes due 2045. These notes are unsecured and unsubordinated obligations of the issuer, Blackstone Holdings Finance Co. L.L.C., and are fully and unconditionally guaranteed by several indirect subsidiaries of Blackstone, referred to as the Guarantors. The offering was conducted under Rule 144A and Regulation S, indicating a private placement to institutional investors. The proceeds from this issuance will likely be used for general corporate purposes, potentially including funding existing or new investment strategies. Investors should note the long-term maturity of these notes (30 years) and the interest rate of 4.450%, providing a stable, long-dated source of capital for the company.

Key Highlights

  • 1Blackstone Inc. (BX) completed an offering of $350 million in 4.450% Senior Notes due 2045.
  • 2The notes are unsecured and unsubordinated obligations of the issuer, Blackstone Holdings Finance Co. L.L.C.
  • 3The notes are fully and unconditionally guaranteed by several indirect subsidiaries of Blackstone.
  • 4The offering was conducted via a supplemental indenture to an existing base indenture.
  • 5The notes bear interest at a fixed rate of 4.450% per annum, payable semiannually.
  • 6The offering was made pursuant to Rule 144A and Regulation S, targeting institutional investors.
  • 7The indenture includes standard covenants, events of default, and provisions for redemption and repurchase upon a change of control.

Frequently Asked Questions

This 8-K filing is primarily to announce the completion of Blackstone's offering of $350 million in 4.450% Senior Notes due 2045. It details the material terms of this new debt issuance.

The notes are issued by Blackstone Holdings Finance Co. L.L.C., an indirect subsidiary. The principal entity, The Blackstone Group L.P., along with several other indirect subsidiaries (Blackstone Holdings I L.P., II L.P., III L.P., and IV L.P.), are the Guarantors, providing full and unconditional guarantees for the notes.

The notes have a principal amount of $350 million, a fixed interest rate of 4.450% per annum, and mature on July 15, 2045. Interest is paid semiannually. They are unsecured and unsubordinated.

The notes were offered pursuant to Rule 144A and Regulation S under the Securities Act of 1933. This typically means they were offered to qualified institutional buyers in the U.S. and to non-U.S. persons outside the U.S., and were not registered with the SEC.