UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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| Item 8.01. | Other Events. |
On April 27, 2026, Blackstone Private Credit Fund (the “Fund”) issued $850,000,000 aggregate principal amount of 5.950% notes due 2031 (the “Notes”) pursuant to that certain Base Indenture, dated as of September 15, 2021 (as may be further amended, supplemented or otherwise modified from time to time, the “Base Indenture”), as supplemented by the Twenty-First Supplemental Indenture (the “Twenty-First Supplemental Indenture” and, together with the Base Indenture, the “Indenture”), between the Fund and U.S. Bank Trust Company, National Association (the “Trustee”).
The Notes will mature on May 15, 2031 and may be redeemed in whole or in part at the Fund’s option at any time and from time to time at the redemption prices set forth in the Indenture. The Notes bear interest at a rate of 5.950% per year payable semi-annually on November 15 and May 15 of each year, commencing on November 15, 2026. The Notes are general unsecured obligations of the Fund that rank senior in right of payment to all of the Fund’s existing and future indebtedness that is expressly subordinated in right of payment to the Notes, rank pari passu with all existing and future unsecured indebtedness issued by the Fund that is not so subordinated, rank effectively junior to any of the Fund’s secured indebtedness (including unsecured indebtedness that the Fund later secures) to the extent of the value of the assets securing such indebtedness, and rank structurally junior to all existing and future indebtedness (including trade payables) incurred by the Fund’s subsidiaries, financing vehicles or similar facilities.
The Indenture contains certain covenants, including covenants requiring the Fund to comply with the asset coverage requirements of Section 18(a)(1)(A) as modified by Section 61(a) of the Investment Company Act of 1940, as amended, whether or not it is subject to those requirements, and to provide financial information to the holders of the Notes and the Trustee if the Fund is no longer subject to the reporting requirements under the Securities Exchange Act of 1934, as amended. These covenants are subject to important limitations and exceptions that are described in the Indenture.
In addition, on the occurrence of a “change of control repurchase event,” as defined in the Indenture, the Fund will generally be required to make an offer to purchase the outstanding Notes at a price equal to 100% of the principal amount of such Notes plus accrued and unpaid interest to the repurchase date.
The Notes were offered and sold pursuant to an effective Registration Statement on Form N-2ASR (File No. 333-284601), filed on January 30, 2025, and the preliminary prospectus supplement and the pricing term sheet, each filed with the United States Securities and Exchange Commission on April 22, 2026. The transaction closed on April 27, 2026.
The foregoing descriptions of the Base Indenture, the Twenty-First Supplemental Indenture and the Notes do not purport to be complete and are qualified in their entirety by reference to the full text of the Base Indenture, the Twenty-First Supplemental Indenture and the Notes, respectively, each filed as an exhibit hereto and incorporated by reference herein.
| Item 9.01. | Financial Statements and Exhibits. |
| (d) | Exhibits. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: April 27, 2026 | BLACKSTONE PRIVATE CREDIT FUND | |||||
| By: | /s/ Lucie Enns | |||||
| Name: | Lucie Enns | |||||
| Title: | Chief Legal Officer and Secretary | |||||