Blackstone Private Credit Fund

12/19/2025 | Press release | Distributed by Public on 12/19/2025 06:31

Private Placement, Regulation FD Disclosure (Form 8-K)

Item 3.02 - Unregistered Sale of Equity Securities.
As of December 1, 2025, Blackstone Private Credit Fund (the "Fund") sold unregistered Class I common shares of beneficial interest (with the final number of shares being determined on December 18, 2025). The offer and sale of these Class I shares was exempt from the registration provisions of the Securities Act of 1933, as amended, pursuant to Section 4(a)(2) and/or Regulation S thereunder (the "Private Offering"). The following table details the shares sold:
Date of Unregistered Sale Amount of Class I Common Shares Consideration
As of December 1, 2025 (number of shares finalized on December 18, 2025)
12,674,689 $ 315,219,519
Item 7.01 - Regulation FD Disclosure.
December 2025 Distributions
On December 18, 2025, the Fund declared regular distributions for each class of its common shares of beneficial interest (the "Shares") in the amounts per share set forth below:
Gross Distribution Shareholder Servicing and/or Distribution Fee Net Distributions
Class I Common Shares $ 0.2000 $ 0.0000 $ 0.2000
Class S Common Shares $ 0.2000 $ 0.0176 $ 0.1824
Class D Common Shares $ 0.2000 $ 0.0052 $ 0.1948
The distributions for each class of Shares are payable to shareholders of record as of the open of business on December 31, 2025, and will be paid on or about January 28, 2026.
These distributions will be paid in cash or reinvested in Shares for shareholders participating in the Fund's distribution reinvestment plan.
Item 8.01 - Other Events.
Net Asset Value
The net asset value ("NAV") per share of each class of the Fund as of November 30, 2025, as determined in accordance with the Fund's valuation policy, is set forth below.
NAV as of November 30, 2025
Class I Common Shares $ 24.87
Class S Common Shares $ 24.87
Class D Common Shares $ 24.87
As of November 30, 2025, the Fund's aggregate NAV was approximately $49.1 billion, the fair value of its investment portfolio was approximately $79.0 billion, and it had approximately $32.9 billion of debt outstanding (at principal). The average debt-to-equity leverage ratio during November 2025 was approximately 0.67 times. As of November 30, 2025, the Fund had approximately $38.4 billion in committed debt capacity, with 90% in floating rate leverage, of which 71% is secured, and 10% in fixed rate leverage, of which 84% is unsecured, based on drawn amounts.1The Fund's leverage sources are in the form of a corporate revolver (13%), asset-based credit facilities (34%), unsecured bonds (34%), secured short term indebtedness (1%), and collateralized loan obligation (CLO) and other secured debt instruments (18%) based on drawn amounts.
1 Certain Notes are classified for the purposes of this filing as floating rate as a result of the Fund entering into interest rate swaps to effectively swap fixed notes payments for floating rate payments.
Status of Offering
The Fund is currently publicly offering on a continuous basis up to $45.0 billion in Shares (the "Offering"). Additionally, the Fund has sold unregistered shares as part of the Private Offering. The following table lists the Shares issued and total consideration for both the Offering and the Private Offering as of the date of this filing, reflective of transfers between share classes. The table below does not include Shares sold through the Fund's distribution reinvestment plan. The Fund intends to continue selling Shares in the Offering and the Private Offering on a monthly basis.
Common Shares Issued Total Consideration
Offering:
Class I Common Shares 654,276,089 $ 16.6 billion
Class S Common Shares 598,055,189 $ 15.2 billion
Class D Common Shares 25,947,529 $ 0.7 billion
Private Offering:
Class I Common Shares 889,197,501 $ 22.6 billion
Class S Common Shares - -
Class D Common Shares - -
Total Offering and Private Offering* 2,167,476,309 $ 55.1 billion
*Amounts may not sum due to rounding
Blackstone Private Credit Fund published this content on December 19, 2025, and is solely responsible for the information contained herein. Distributed via Edgar on December 19, 2025 at 12:31 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]