BLACKSTONE PRIVATE CREDIT FUND FILES (8-K) Disclosing Unregistered Sale of Equity Securities, Regulation FD Disclosure, Other Events
Item 3.02. Unregistered Sale of
As of
unregistered Class I common shares of beneficial interest (with the final number
of shares being determined on
created to hold the Fund's Class I shares. The offer and sale of these Class I
shares was exempt from the registration provisions of the Securities Act of
1933, as amended, pursuant to Section 4(a)(2) and/or Regulation S thereunder
(the "Private Offering"). The following table details the shares sold:
Amount of Class I
Date of Unregistered Sale Common Shares Consideration
As of
7,904,365$ 197,767,215
Item 7.01. Regulation FD Disclosure.
OnAugust 24, 2022 , the Fund declared distributions for each class of its common shares of beneficial interest (the "Shares") in the amount per share set forth below: Gross Shareholder Net Distribution Servicing Fee Distributions Class I Common Shares$ 0.1740 $ 0.0000 $ 0.1740 Class S Common Shares$ 0.1740 $ 0.0177 $ 0.1563 Class D Common Shares$ 0.1740 $ 0.0052 $ 0.1688
The distributions for each class of Shares are payable to shareholders of record
as of the open of business on
These distributions will be paid in cash or reinvested in shares of the Fund's
Shares for shareholders participating in the Fund's distribution reinvestment
plan.
--------------------------------------------------------------------------------
Recent Blackstone Credit Transaction Highlights1
Fidelis
In
equity investment to support the creation of a new Managing General Underwriter
("Fidelis MGU") which, subject to regulatory approval, will be separated from
the existing balance sheet insurance companies of Fidelis. Fidelis MGU's
principal equity investors will be
Inc.,
Fidelis is a provider of specialty, reinsurance, and bespoke insurance products.
Item 8.01. Other Events.
Net Asset Value
The net asset value ("NAV") per share of each class of the Fund as of July 31,
2022 , as determined in accordance with the Fund's valuation policy, is set forth
below.
NAV as of
July 31,
2022
Class I Common Shares $ 25.02
Class S Common Shares $ 25.02
Class D Common Shares $ 25.02
As of
of its investment portfolio was
outstanding (at principal). The average debt-to-equity leverage ratio during
leverage and 10% in unsecured fixed rate leverage based on drawn amounts.2 The
Fund's leverage sources are in the form of a corporate revolver (7%),
asset-based credit facilities (52%), unsecured bonds (28%), secured short term
indebtedness (2%) and collateralized loan obligation (CLO) notes (11%) based on
drawn amounts.
Status of Offering
The Fund is currently publicly offering on a continuous basis up to
unregistered shares as part of the Private Offering. The following table lists
the Shares issued and total consideration for both the Offering and the Private
Offering as of the date of this filing. The Fund intends to continue selling
Shares in the Offering and the Private Offering on a monthly basis.
Common Total
Shares Issued Consideration
Offering:
Class I Common Shares 181,468,842 $ 4.7 billion
Class S Common Shares 255,020,615 $ 6.6 billion
Class D Common Shares 41,165,628 $ 1.1 billion
Private Offering:
Class I Common Shares 421,743,474 $ 10.9 billion
Class S Common Shares - -
Class D Common Shares - -
Total Offering and Private Offering * 899,398,559 $ 23.3 billion
* Amounts may not sum due to rounding.
1 The information provided, including dollar amounts, represents the aggregated
investment of all participating
Fund. The final dollar amount of the Fund's portion of the investment will be
determined and disclosed in the Fund's future periodic reports.
2 Certain Notes are treated as floating rate due to interest rate swaps the Fund
has entered into to swap fixed notes payments for floating rate payments.
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