Oct 02, 2017

Blackstone Announces Expiration and Results of Tender Offer for any and all of its 6.625% Senior Notes Due 2019

New York, October 2, 2017 - Blackstone (NYSE: BX) today announced the expiration and results of the previously announced cash tender offer by Blackstone Holdings Finance Co. L.L.C. (the “Company”) for any and all of its 6.625% Senior Notes due 2019 (the “Notes”).

The tender offer expired at 5:00 p.m., New York City time, on September 29, 2017 (the “Expiration Date”).

According to information provided by Global Bondholder Services Corporation, the depositary and information agent for the tender offer, $259,682,000 aggregate principal amount of the Notes were validly tendered prior to or at the Expiration Date and not validly withdrawn. This amount includes $31,000 aggregate principal amount of outstanding Notes tendered pursuant to the guaranteed delivery procedures described in the offer to purchase, dated September 25, 2017, and the related letter of transmittal and notice of guaranteed delivery, which remain subject to the holders’ performance of the delivery requirements under such procedures.

The conditions to the tender offer have been satisfied and the Company has accepted for purchase all Notes validly tendered and not validly withdrawn at or prior to the Expiration Date. The Company expects the payment for the purchased Notes validly tendered and not validly withdrawn at or prior to the Expiration Date to be made today, October 2, 2017 and that payment for the Notes delivered in accordance with the guaranteed delivery procedures will be made on October 4, 2017.

The Company intends to redeem any and all Notes that are not tendered and accepted in the tender offer in accordance with the make-whole provisions under the indenture governing the Notes.

Information Relating to the Tender Offer
BofA Merrill Lynch, Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC acted as the joint lead dealer managers in connection with the tender offer. Global Bondholder Services Corporation (“GBS”) acted as the depositary and information agent for the tender offer. Questions regarding the tender offer should be directed to GBS at 212-430-3774 (banks and brokers) or 866-470-3700 (all others).

This announcement is not an offer to purchase or a solicitation of an offer to sell any securities and shall not constitute a notice of redemption under the indenture governing the Notes. The tender offer is being made solely by means of the offer to purchase and the related letter of transmittal and notice of guaranteed delivery.

About Blackstone
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with over $370 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis.

Forward-Looking Statements
This release may contain forward-looking statements which reflect Blackstone’s current views with respect to, among other things, Blackstone’s operations and financial performance. You can identify these forward-looking statements by the use of words such as “outlook,” “indicator,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. Blackstone believes these factors include but are not limited to those described under the section entitled “Risk Factors” in its Annual Report on Form 10-K for the fiscal year ended December 31, 2016, as such factors may be updated from time to time in its periodic filings with the Securities and Exchange Commission (“SEC”), which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in the filings. Blackstone undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.

Public Affairs
New York
+ 1 212.583.5263