Blackstone Defies Private Credit Concerns With Tight CLO Pricing

Blackstone Inc. sold a nearly $1 billion bundle of private credit loans at one of the tightest levels this year, signaling strong investor demand despite broader concerns about the direct lending industry.

The spreads on the highest-rated bonds in the investment vehicle, known as a collateralized loan obligation, priced on Tuesday at 137 basis points over a floating-rate benchmark.