Blackstone Private Credit Fund Draws Strong Demand for Bond Sale

Blackstone Inc. offered further evidence that concerns about private credit cracks are easing after an $850 million bond sale for one of its funds attracted about $4.3 billion of demand.

Blackstone Private Credit Fund, known as BCRED, boosted the size of the offering from an initial target of at least $500 million as orders swelled. It also sold the deal with minimal, single-digit new issue concessions — a premium to where its existing debt trades — in another sign that confidence in the asset class is improving.

The transaction is the third bond sale from a business development company ...