Carlyle Finance Subsidiary LLC, an indirect subsidiary of Carlyle Group LP, priced an offering of $425 million of 3.500% senior notes due 2029.
Net proceeds will be used to redeem all of the outstanding 5.875% series A preferred units of Carlyle Group. Any remaining proceeds from the sale of the notes will be used for general corporate purposes.
Following the pricing of the offering, Carlyle issued a conditional redemption notice pursuant to the tax redemption provisions of the preferred units to redeem them in full on Oct. 7 at $25.339757 per unit. The redemption price is equal to $25.25 per preferred unit plus declared and unpaid distributions to, but excluding, the redemption date. Redemption of the preferred units is subject to a financing condition that the successful closing of the offering would satisfy.
