Blackstone Private Credit Fund Sells $500 Million of Bonds (2)

Blackstone Inc.’s flagship private credit fund sold $500 million of five-year, investment-grade debt Wednesday, the latest business development company to issue or signal plans to offer dollar bonds.

The notes from the Blackstone Private Credit Fund, known as BCRED, yield 1.6 percentage point above Treasuries, according to a person with knowledge of the deal, who asked not to be identified disclosing details about the transaction.

Initial price discussions called for a yield of around 1.85 percentage point above the benchmark. BCRED sold $1 billion of bonds in January, about a week after it shelved a debt offering due ...