Blackstone Completes $600 Million Senior Notes Offerings and Related Tender Offer and Redemption
11.08.17
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Simpson Thacher recently advised Blackstone on the issuance and sale by Blackstone Holdings Finance Co. L.L.C., an indirect finance subsidiary of The Blackstone Group L.P., of $300 million aggregate principal amount of 3.15% Senior Notes due 2027 and $300 million aggregate principal amount of 4% Senior Notes due 2047. The notes are guaranteed by The Blackstone Group L.P., Blackstone Holdings I L.P., Blackstone Holdings AI L.P., Blackstone Holdings II L.P., Blackstone Holdings III L.P. and Blackstone Holdings IV L.P. Blackstone used the net proceeds of the offerings to fund a cash tender offer for its 6.625% Senior Notes due 2019 and redeem the notes not tendered pursuant to the tender offer.
Blackstone is a leading global manager of private capital, with total assets under management of $387.4 billion as of September 30, 2017.
The Simpson Thacher team for the transaction included Josh Bonnie, Will Golden, Jon Pacheco, Natalie Karam and Mark Haddox (D.C. – Capital Markets); and Jon Cantor and Chris Murray (Tax).