Blackstone Secured Lending slides on $178 mln equity raise
10/08/2023 12:32
** Shares of Blackstone Secured Lending Fund BXSL.N down
5.6% at $27.17 premarket after overnight follow-on priced
** Co externally managed by Blackstone Credit BDC Advisors
late Weds announced 6.5 mln shares at $27.33 for ~$177.6 mln
gross raise
** Offering priced at 5% discount to last sale
** Before the bell Weds, BXSL increased its qtrly dividend
by 10% to $0.77/sh
** Co, which reported net asset value/sh of $26.30 at
end-Jun, has ~165.4 mln shares outstanding for $4.8 bln market
cap
** BXSL's shares up ~29% YTD through Weds close
** Wells Fargo, Morgan Stanley and BofA acting as lead jt
bookrunners for offering
(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))