8-KMaterial AgreementsFinancial EventsOther Events+1

Blackstone Inc. 8-K Report, Material Agreement (Jun 1, 2022)

Filed June 1, 2022For Securities:BX

Summary

Blackstone Inc. (BX) filed an 8-K on June 1, 2022, to announce the completion of its offering of €500,000,000 aggregate principal amount of 3.500% Senior Notes due 2034. These notes are issued by Blackstone Holdings Finance Co. L.L.C. and are guaranteed by several indirect subsidiaries of Blackstone Inc. The offering was conducted under Rule 144A and Regulation S, indicating a private placement to eligible investors and non-US persons, and the notes have not been registered under the Securities Act of 1933. This issuance represents a material debt financing for the company. The notes bear a fixed interest rate of 3.500% per annum, payable annually, and mature in June 2034. The indenture includes standard covenants related to liens and asset disposals, as well as provisions for events of default and redemption options for the issuer. Notably, a change of control event would trigger a repurchase obligation at 101% of the principal amount.

Key Highlights

  • 1Blackstone Inc. completed a €500 million offering of 3.500% Senior Notes due 2034.
  • 2The notes are unsecured and unsubordinated obligations of the issuer.
  • 3The issuance was made by Blackstone Holdings Finance Co. L.L.C. and guaranteed by several Blackstone subsidiaries.
  • 4The offering was conducted via Rule 144A and Regulation S, targeting institutional and non-US investors.
  • 5The notes mature on June 1, 2034.
  • 6The indenture contains covenants restricting liens and asset sales.
  • 7A change of control event requires the issuer to repurchase the notes at 101% of the principal amount.

Frequently Asked Questions

This 8-K filing announces the completion of Blackstone Inc.'s offering of €500 million in Senior Notes due 2034 and details the material definitive agreement related to this issuance.

The notes are issued by Blackstone Holdings Finance Co. L.L.C., an indirect subsidiary of Blackstone Inc. The Guarantors, which include Blackstone Inc. and other indirect subsidiaries, fully and unconditionally guarantee these notes.

The notes have an aggregate principal amount of €500 million, bear a fixed interest rate of 3.500% per annum, and mature on June 1, 2034. Interest is payable annually. The notes are unsecured and unsubordinated obligations.

If a change of control repurchase event occurs, Blackstone is obligated to repurchase the notes at a price equal to 101% of the aggregate principal amount, plus any accrued and unpaid interest.