Blackstone Credit Fund Set to Raise $850 Million From Bond Sale

Blackstone Private Credit Fund has launched an $850 million investment-grade bond sale as private lenders known as business development companies ramp up debt issuance after a dry spell.

The five-year note is set to yield 2.3 percentage points above Treasuries, about a quarter-point less than initial price talk, according to a person familiar with the matter who asked not to be identified as they’re not authorized to speak publicly. Proceeds will go toward general corporate purposes.