Ropes & Gray Advises on Seven Bond Offerings Valued at $4.3 Billion for BDCs

Ropes & Gray represented the initial purchasers and underwriters for six business development companies in seven bond offerings valued at $4.3 billion total. They include advising:

• The initial purchasers in HPS Corporate Lending Fund’s $1.25 billion in investment grade senior notes in two series: $750 million in notes due 2028 and $500 million in notes due 2032.
• The underwriters in Blackstone Private Credit Fund’s $1 billion in registered investment-grade notes due 2032 and $150 million add-on offering due 2028.
• The initial purchasers in Sixth Street Lending Partners’ $750 million 144A bond offering due 2030.
• The initial purchasers in Apollo Debt Solutions’ $500 million investment grade 144A bond offering due 2032.
• The underwriters in Nuveen Churchill Direct Lending’s $300 million investment grade registered bond offering due 2030.
• The underwriters in Bain Capital Specialty Finance’s $350 million investment-grade registered bond offering due 2030.  

The deal teams were led by capital markets partner Paul Tropp.