Tender Offer - Blackstone Private Credit Fund
Form Type: SC TO-I
Filing Date: 2025-05-02
Corporate Action: Tender-offer
Type: New
Accession Number: 000121390025038700
Filing Summary: Blackstone Private Credit Fund has initiated a tender offer for its own shares, specifically targeting Class I, Class S, and Class D shares. The offer is set to purchase up to 82,790,742 shares, which equates to approximately 5% of the total outstanding shares as of March 31, 2025. The purchase offer will be open until May 30, 2025, with shares being valued at their net asset value as of June 30, 2025, or a later date if the offer is extended. Shareholders who successfully tender their shares will receive an Acceptance Letter and a promissory note corresponding to the value of the shares accepted for purchase. The Fund's Board of Trustees retains the discretion to determine future purchases of shares, though participation in tender offers is not mandatory. This is the first publication of the tender offer, and the issuer is Blackstone Private Credit Fund, a closed-end management investment company regulated as a business development company.
Additional details:
Title Of Class Of Securities: Class I, Class S and Class D Shares of Beneficial Interest
Cusip Number: 09261H305, 09261H107 and 09261H206
Offer Amount: 82,790,742 Shares
Percentage Of Outstanding Shares: 5%
Form Type: SC TO-I/A
Filing Date: 2025-05-02
Corporate Action: Tender-offer
Type: Update
Accession Number: 000121390025038699
Filing Summary: Blackstone Private Credit Fund filed a Final Amendment to its Issuer Tender Offer Statement on Schedule TO, initially published on February 3, 2025. The Offer was made to purchase up to 76,428,716 of its outstanding shares, which included Class I, Class D, and Class S shares of beneficial interest, at a price reflecting the net asset value as of March 31, 2025. The Offer expired on March 3, 2025, with 23,024,370 Shares validly tendered and not withdrawn. The Fund accepted 100% of the validly tendered Shares and paid a total of $581,043,220 in net asset value to the shareholders via non-interest bearing, non-transferable promissory notes, with each Share repurchased at a price of $25.25. This Final Amendment serves to report these results and confirm that no other changes were made to the previously filed documents.
Additional details:
Date Tender Offer First Published: 2025-02-03
Offer Expiration Date: 2025-03-03
Shares Validly Tendered: 23024370
Total Net Asset Value Of Shares Tendered: 581365335
Total Payment To Tendering Shareholders: 581043220
Repurchase Price Per Share: 25.25
Form Type: SC TO-I/A
Filing Date: 2025-03-10
Corporate Action: Tender-offer
Type: Update
Accession Number: 000121390025022224
Filing Summary: This document serves as Amendment No. 1 to the Issuer Tender Offer Statement on Schedule TO filed by Blackstone Private Credit Fund (the Fund) on February 3, 2025. The amendment details the Fund's offer to purchase up to 76,428,716 of its outstanding shares of beneficial interest, which include Class I, Class D, and Class S shares. The purchase price is set to be equal to the net asset value per share as of March 31, 2025. The amendment is made in compliance with Rule 13e-4(c)(1) of the Securities Exchange Act of 1934, to include a new exhibit titled 'Q1 Distribution and Tender Offer Update.' No other changes are made to the previously reported information, ensuring that all details remain consistent with the original filing.
Additional details:
Title Of Class Of Securities: Class I, Class D and Class S Shares of Beneficial Interest
Cusip Number: 09261H 305, 09261H 206 and 09261H 107
Date Tender Offer First Published: 2025-02-03
Purchase Price Basis: net asset value per Share as of March 31, 2025
Exhibit Added: (a)(1)(vii) Q1 Distribution and Tender Offer Update
Form Type: SC TO-I
Filing Date: 2025-02-03
Corporate Action: Tender-offer
Type: New
Accession Number: 000119312525018912
Filing Summary: Blackstone Private Credit Fund is initiating a tender offer for its own Class I, Class D, and Class S Shares of Beneficial Interest. The tender offer, predicted to purchase up to 76,428,716 shares, represents about 5% of the total outstanding shares recorded as of December 31, 2024. The offer is set to commence on February 3, 2025, and will expire on March 3, 2025, unless extended. The purchase price for the tendered shares will be based on their net asset value as of March 31, 2025, or potentially later if the offer is extended. Shareholders whose shares are accepted in the tender offer will receive a non-interest-bearing, non-transferable promissory note valued at the accepted shares on the valuation date. The Fund's trustees and executive officers are not expected to participate in the tender offer. This action is part of the Fund's ongoing strategy to manage share liquidity and provide opportunities for shareholders to sell their shares.
Additional details:
Shareholder Tender Limit: 76,428,716
Percentage Of Shares Tendered: 5%
Valuation Date: 2025-03-31
Form Type: SC TO-I/A
Filing Date: 2025-02-03
Corporate Action: Tender-offer
Type: Update
Accession Number: 000119312525018909
Filing Summary: This Final Amendment to the Issuer Tender Offer Statement on Schedule TO was originally filed on November 1, 2024, by Blackstone Private Credit Fund in connection with an offer to purchase up to 71,467,909 of its outstanding shares of beneficial interest at a price equal to the net asset value per Share as of December 31, 2024. The offer expired at 11:59 p.m. on December 2, 2024, with 20,891,347 Shares validly tendered and accepted for purchase. The total net asset value of the Shares tendered was $531,058,049. Payment for the tendered Shares was made via non-interest bearing, non-transferable promissory notes issued to the tendering shareholders, totaling $530,931,274 paid on or about January 30, 2025. The repurchase price was set at $25.42 per Share as of the Valuation Date.
Additional details:
Date Tender Offer First Published: 2024-11-01
Offer Expiration Date: 2024-12-02
Shares Validly Tendered: 20891347
Net Asset Value Of Shares Tendered: 531058049
Payment Total: 530931274
Repurchase Price Per Share: 25.42
Valuation Date: 2024-12-31
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