Blackstone Group LP (BX) experienced a significant surge in its stock price, soaring 5.44% in pre-market trading on Wednesday. The jump comes on the heels of reports that Blackstone, along with Apollo Global Management, is spearheading a $4 billion loan to support Thoma Bravo's acquisition of Boeing's flight navigation unit and other digital assets.
According to Bloomberg, citing people familiar with the matter, the loan package is structured as a seven-year financing deal with an interest rate of 4.75 percentage points above the benchmark rate. This move showcases Blackstone's continued strength in the private lending market and its ability to participate in large-scale transactions.
The market's positive reaction to this news underscores investors' confidence in Blackstone's strategic positioning and potential for revenue growth through such high-profile deals. As one of the world's leading investment firms, Blackstone's involvement in this significant transaction is likely seen as a testament to its robust deal-making capabilities and its potential for generating substantial returns.
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