Blackstone Fund Prices $400 Million Bond Amid Software Turmoil

A publicly-traded private credit fund managed by Blackstone Inc. sold a $400 million bond one day after the fund disclosed continued signs of stress in one of its largest investments.

The Blackstone Secured Lending Fund note due in 2029 will yield 2 percentage points above Treasuries, according to a person familiar with the matter. Initial price talk was a spread of about 2.25 percentage points, said the person, who asked not to be identified. Proceeds will go toward general corporate purposes.