KBRA Assigns Rating to BlackRock Private Credit Fund's $125 Million Senior Unsecured Notes
BlackRock, Inc. (BLK)
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Source: Business Wire
NEW YORK--(BUSINESS WIRE)--KBRA assigns a rating of BBB- to BlackRock Private Credit Fund's (“BDEBT” or “the company”) $125 million senior unsecured notes due in 2027 and 2030. The notes comprise a $70 million, 7.14% tranche and a $55 million, 7.33% tranche with maturities of November 18, 2027, and January 22, 2030, respectively. The rating Outlook is Stable. The proceeds will be used for general corporate purposes.Key Credit ConsiderationsThe rating and Stable Outlook are supported by BDEBT’s ties to BlackRock, Inc.’s (NYSE: BLK) $10.5 trillion assets under management (as of 2Q24), making BLK one of the largest investment platforms in the world. BlackRock's private debt platform of $65 billion, of which $34 billion is principally dedicated to private middle market direct lending, also supports the rating. The BlackRock platform consists of a large and diverse team of 170+ private debt investment professionals, including a U.S. direct lending investment team of 45+ people. BDEBT r
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- 10/15/24 - Form 15-12G
- 10/2/24 - Form 4
- 10/2/24 - Form 4
- BLK's page on the SEC website