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Blackstone Loan Financing delays asset sale completion to January 8

Published 01/02/2025, 04:44 AM

LONDON - Blackstone (NYSE:BX) Loan Financing Limited (the "Company") has disclosed a delay in the completion of its proposed asset sale. The purchaser of the PPNs (Private Placement Notes) has exercised its right to postpone the original completion date from December 31, 2024, to January 8, 2025.

This postponement was announced in a statement released on Thursday, with the company affirming that aside from the revised completion date, the expected timetable of events remains unchanged. This includes the payment of the Third Redemption, which is part of the company's ongoing transactions.

The revised schedule also sets the latest time and date for receipt of proxy appointments for the Second Extraordinary General Meeting (EGM) at 11:00 a.m. on January 13, 2025. The record date for participation and voting at this meeting is slated for 5:00 p.m. the same day.

Further, the suspension of the listing of the shares on the Official List and of trading of the shares on the Main Market is scheduled for 7:00 a.m. on January 15, 2025. The Second EGM is expected to take place at 11:00 a.m. on January 15, following the announcement of its results on the same day. The commencement of the Summary Winding-up, conditional on the approval of the Second EGM Resolution, is also set for January 15.

Additionally, the record date for the Third Redemption is scheduled for 5:00 p.m. on January 15, with the cancellation of the listing of the shares on the Official List and cancellation of admission to trading of the shares on the Main Market anticipated for 8:00 a.m. on January 16, 2025. The payment date of the Third Redemption is expected to be by February 4, 2025, or as soon as possible thereafter.

The company has indicated that all events are subject to postponement if there is a delay in the completion of the proposed transaction or in the receipt of any requisite regulatory consents. Shareholders will be notified of any changes to the timetable through an announcement via an RIS provider.

The information contained in this article is based on a press release statement by Blackstone Loan Financing Limited. The company has advised shareholders to refer to the meanings ascribed to capitalized terms in the circular for any undefined terms in the announcement.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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