Blackstone Completes $900 Million Senior Notes Offerings and Related Tender Offer and Redemption
10.10.19
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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 Inc., of $500 million aggregate principal amount of 2.5% Senior Notes due 2030 and $400 million aggregate principal amount of 3.5% Senior Notes due 2049. The notes are guaranteed by The Blackstone Group 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 used a portion of the net proceeds of the offerings to fund a cash tender offer for its 5.875% Senior Notes due 2021 and redeem the notes not tendered pursuant to the tender offer.
Blackstone is one of the world’s leading investment firms, with total assets under management of $545 billion as of June 30, 2019.
The Simpson Thacher team for the transaction included Josh Bonnie, Will Golden, Jon Pacheco, Claire DiMario and Jesse Schulman (Capital Markets – D.C.); and Jon Cantor and Abigail Hopper (Tax).