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Published on 7/29/2021 in the Prospect News Bank Loan Daily and Prospect News Investment Grade Daily.

S&P gives Blackstone notes A+

S&P said it gave an A+ issue rating to Blackstone Group Inc.'s planned senior unsecured notes offered by its indirect subsidiary, Blackstone Holdings Finance Co. LLC. The notes will be guaranteed by Blackstone Group as well as Blackstone Holdings I LP, Blackstone Holdings AI LP, Blackstone Holdings II LP, Blackstone Holdings III LP and Blackstone Holdings IV LP.

While the offering size has not been finalized and will be subject to market conditions, the rating assumes the amount will likely be between $1.5 billion and $2 billion, S&P said.

Blackstone is expected to use the proceeds for general corporate purposes, which may include funding a portion of the purchase price for its acquisition of a 9.9% equity interest in American International Group Inc.'s life and retirement business.


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