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Blackstone unit plans debt offering, launches senior notes tender offer

Blackstone Group Inc. unit Blackstone Holdings Finance Co. LLC intends to offer an undisclosed amount of senior notes.

The notes will be fully and unconditionally guaranteed by Blackstone Group and certain indirect subsidiaries.

Concurrently, Blackstone Holdings Finance launched a cash tender offer for its 5.875% senior notes due 2021, which have an outstanding principal amount of $400.0 million.

The company intends to use part of the proceeds from the senior notes offering, along with cash on hand or available liquidity, to fund the repurchase of the aforementioned 2021 notes and/or to redeem any outstanding amount of the notes that remain after the tender offer, as well as to pay transaction-related costs. Any remaining funds will go toward general corporate purposes.

The tender offer will expire at 5 p.m. ET on Sept. 9, unless extended or terminated earlier.

Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC will be the joint lead dealer managers for the tender offer.