Blackstone is moving forward with a new CLO issuance through its $82.5bn BCRED vehicle, according to Bloomberg. The transaction will package corporate loans into tradable securities and is expected to price in the coming days. This marks another major structured credit deal from the private equity giant as it continues to expand its private credit footprint.

Proceeds will refinance existing debt, demonstrating BCRED's active capital management approach. The CLO's top-rated tranche is expected to price at a spread of around 1.3 percentage points, broadly in line with recent transactions. This pricing reflects continued confidence in structured credit as a core financing channel for large private credit platforms.

The deal comes amid heightened redemption activity at BCRED, which received a $150m capital injection from senior leadership earlier this month. Despite these pressures, the CLO had been planned in advance, highlighting Blackstone's commitment to structured credit as a key funding tool. The transaction underscores how CLOs are becoming increasingly important for business development companies seeking efficient capital market access.