Blackstone’s Clarion Seeks £1.1 Billion Private Credit Loan

Blackstone Inc.’s Clarion Events is in talks to borrow about £1.1 billion ($1.5 billion) from private credit lenders that will be used to fund a dividend and refinance existing debt, people with knowledge of the matter said.

Blackstone is still evaluating long-term options for the business, including a sale, which could take until next year to complete, said the people, who asked for anonymity discussing private matters. It started plans to sell the company, which organizes exhibitions, over the summer.

In a so-called dividend recapitalization, the sponsor adds debt to a company to fund a payout to itself, boosting ...