Blackstone Group Inc. priced an offering of $500 million of 2.500% senior notes due 2030 and $400 million of 3.500% senior notes due 2049.
The notes are being offered by the private equity giant's Blackstone Holdings Finance Co. LLC unit. Blackstone Group and certain of its indirect subsidiaries are providing full and unconditional guarantee for the notes.
Proceeds from the offering, along with cash on hand or available liquidity, will be used in large part for the repurchase of Blackstone's outstanding 5.875% senior notes due 2021 and/or the redemption of any of the 2021 notes that remain outstanding after the tender offer. Remaining proceeds will be used for general corporate purposes.
