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.