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Blackstone: New $2.8bn Private Credit Raise Deal Explained

Blackstone is in talks with private credit lenders to secure $2.8 billion in financing for Encore Group USA LLC to address upcoming debt maturities.

From Left: Kenneth Caplan, Kathleen McCarthy and Jonathan Gray. PHOTO: FORTUNE/Blackstone
From Left: Kenneth Caplan, Kathleen McCarthy and Jonathan Gray. PHOTO: FORTUNE/Blackstone

The financing package might include a $2.3 billion unitranche, combining junior and senior debt typically provided by direct lenders. Sources indicate that the lenders are considering pricing the facility at 5 percentage points above the Secured Overnight Financing Rate, with a

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