Blackstone Prices €500 Million Senior Notes Offering
26 May 2022 - 06:15AM
Business Wire
Blackstone (NYSE: BX) priced its offering of €500,000,000 of
3.500% senior notes due 2034 of Blackstone Holdings Finance Co.
L.L.C., its indirect subsidiary. The notes will be fully and
unconditionally guaranteed by Blackstone Inc. and its indirect
subsidiaries, 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 intends to use the proceeds
from the notes offering for general corporate purposes.
The notes will be offered and sold to qualified institutional
buyers in the United States pursuant to Rule 144A and outside the
United States pursuant to Regulation S under the Securities Act of
1933.
The notes have not been registered under the Securities Act of
1933 or any state securities laws and may not be offered or sold in
the United States absent registration or an applicable exemption
from the registration requirements of the Securities Act of 1933
and applicable state laws.
In the United Kingdom (“UK”), this press release is only being
distributed to, and is only directed at, persons who are “qualified
investors” (as defined in the Prospectus Regulation (as defined
below)) who are (i) persons who have professional experience in
matters relating to investments and who qualify as investment
professionals falling within Article 19(5) of the Financial
Services and Markets Act 2000 (Financial Promotion) Order 2005 (the
“Order”) or (ii) high net worth entities, and other persons to whom
it may lawfully be communicated, falling within Article 49(2)(a) to
(d) of the Order (all such persons together being referred to as
“relevant persons”). Any offering of notes in the UK will only be
made available to, and any invitation, offer or agreement to
subscribe, purchase or otherwise acquire such notes will be engaged
in only with, relevant persons.
In the UK, the notes described in this press release are not
intended to be offered, sold or otherwise made available to and
should not be offered, sold or otherwise made available to any
retail investor in the UK. For these purposes, a retail investor
means a person who is one (or more) of: (i) a retail client, as
defined in point (8) of Article 2 of Regulation (EU) No 2017/565 as
it forms part of domestic law by virtue of the European Union
(Withdrawal) Act 2018 (as amended, the “EUWA”); (ii) a customer
within the meaning of the provisions of the UK Financial Services
and Markets Act 2000 (as amended, the “FSMA”) and any rules or
regulations made under the FSMA to implement Directive (EU) 2016/97
(as amended, the “Insurance Distribution Directive”), where that
customer would not qualify as a professional client, as defined in
point (8) of Article 2(1) of Regulation (EU) No 600/2014 as it
forms part of domestic law by virtue of the EUWA; or (iii) not a
qualified investor as defined in Article 2 of the Prospectus
Regulation (as defined below) as it forms part of domestic law by
virtue of the EUWA (the “UK Prospectus Regulation”). Consequently,
no key information document required by Regulation (EU) No
1286/2014 (as amended) as it forms part of domestic law by virtue
of the EUWA (the “UK PRIIPs Regulation”) for offering or selling
the notes described in this press release or otherwise making them
available to retail investors in the UK has been prepared and
therefore offering or selling the notes or otherwise making them
available to any retail investor in the UK may be unlawful under
the UK PRIIPs Regulation.
The notes described in this press release are not intended to be
offered, sold or otherwise made available to and should not be
offered, sold or otherwise made available to any retail investor in
the European Economic Area (“EEA”). For these purposes, a retail
investor means a person who is one (or more) of: (i) a retail
client as defined in point (11) of Article 4(1) of Directive
2014/65/EU (as amended, “MiFID II”); (ii) a customer within the
meaning of the Insurance Distribution Directive, where that
customer would not qualify as a professional client as defined in
point (10) of Article 4(1) of MiFID II; or (iii) not a qualified
investor as defined in Regulation (EU) 2017/1129 (as amended, the
“Prospectus Regulation”). Consequently, no key information document
required by Regulation (EU) No 1286/2014 (as amended, the “PRIIPs
Regulation”) for offering or selling the notes described in this
press release or otherwise making them available to retail
investors in the EEA has been prepared and therefore offering or
selling the notes or otherwise making them available to any retail
investor in the EEA may be unlawful under the PRIIPs
Regulation.
UK MiFIR Product Governance / Eligible Counterparties and
Professional Clients Only Target Market – Solely for the purposes
of each manufacturer’s product approval process, the target market
assessment in respect of the notes has led to the conclusion that:
(a) the target market for the notes is only eligible
counterparties, as defined in the FCA Handbook Conduct of Business
Sourcebook (“COBS”), and professional clients, as defined in
Regulation (EU) No 600/2014 as it forms part of domestic law by
virtue of the European Union (Withdrawal) Act 2018, as amended (“UK
MiFIR”); and (b) all channels for distribution of the notes to
eligible counterparties and professional clients are appropriate.
Any person subsequently offering, selling or recommending the notes
(a “UK distributor”) should take into consideration the
manufacturers’ target market assessment; however, a UK distributor
subject to the FCA Handbook Product Intervention and Product
Governance Sourcebook (the “UK MiFIR Product Governance Rules”) is
responsible for undertaking its own target market assessment in
respect of the notes (by either adopting or refining the
manufacturers’ target market assessment) and determining
appropriate distribution channels.
This press release shall not constitute an offer to sell or a
solicitation of an offer to purchase the notes or any other
securities, and shall not constitute an offer, solicitation or sale
in any state or jurisdiction in which such an offer, solicitation
or sale would be unlawful. This press release is being issued
pursuant to and in accordance with Rule 135c under the Securities
Act of 1933. The distribution of this press release may be
restricted by law in certain jurisdictions and persons into whose
possession this announcement or other information referred to
herein comes should inform themselves about and observe any such
restriction.
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Investor and Media Relations
For Investors Weston Tucker Blackstone Tel: +1 (212) 583-5231
tucker@blackstone.com
For Media Matthew Anderson Blackstone Tel: +1 (212) 390-2472
Matthew.Anderson@blackstone.com
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