Simpson Thacher advised Blackstone on the issuance and sale by Blackstone Holdings Finance Co. L.L.C., an indirect finance subsidiary of Blackstone Inc., of $650 million of 1.625% Senior Notes due 2028, $800 million of 2% Senior Notes due 2032 and $550 million of 2.85% Senior Notes due 2051. The notes are guaranteed by Blackstone Inc., 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 intends to use the proceeds from the notes offering for general corporate purposes, which may include, without limitation, to fund a portion of the purchase price for Blackstone’s previously announced acquisition of a 9.9% equity interest in American International Group, Inc.’s life and retirement business.
Blackstone is one of the world’s leading investment firms, with total assets under management of $684 billion as of June 30, 2021.
The Simpson Thacher team for the transaction included Josh Bonnie, Will Golden, Jon Pacheco, Aarthy Thamodaran, Evan Hunt and Matthew Mai (Capital Markets – D.C.); and Michael Mann and Suzy Yaster (Tax).