Blackstone Holdings Finance Co.’s $900 Million Senior Notes Offerings and Related Tender Offer and Redemption

Simpson Thacher 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 (Picture), Will Golden, Jon Pacheco, Claire DiMario and Jesse Schulman (Capital Markets – D.C.); and Jon Cantor and Abigail Hopper (Tax).

Involved fees earner: Jonathan Cantor – Simpson Thacher & Bartlett; Claire DiMario – Simpson Thacher & Bartlett; Joshua Ford Bonnie – Simpson Thacher & Bartlett; William Golden – Simpson Thacher & Bartlett; Abigail Hopper – Simpson Thacher & Bartlett; Jonathan Pacheco – Simpson Thacher & Bartlett; Jesse Schulman – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Blackstone;

Author: Ambrogio Visconti