Blackstone Inc (BX)

[sandyraveon]

Les Paul & Angus are proud of GSO's extension...I may need to buy a Gary Clark Gibson to help!!! Please do the same this Holiday Season! RAVE ON!!! as in Stevie SRV!!!

*DJ Guitar Maker Gibson Makes Deal With GSO Capital Partners on Loan Payment

Dec 08, 2017 15:30:00 (ET)

By Soma Biswas
Famed guitar maker Gibson Brands, Inc. has reached another deal with lender GSO Capital Partners to push back a loan payment by a couple of weeks ahead of the crucial holiday selling season, according to people familiar with the matter.

GSO, the lending arm of private-equity firm Blackstone Group, pushed back the due date on a $5 million amortization payment by two weeks to Dec. 15, according to the people. At the same time, GSO waived a covenant breach tied to a minimum level of earnings before interest, taxes, depreciation and amortization for October, the people said.

GSO loaned Gibson $130 million in February after the struggling guitar maker's previous lender called its asset-based revolving loan when the company violated a debt covenant. The company is also facing a $375 million bond maturity in August 2018.

A GSO spokesperson declined to comment.

While Gibson is operating under tight liquidity currently, Christmas is its biggest selling season and historically its cash flows jump during that time.

GSO reached another arrangement with Gibson to facilitate a second loan payment by adding $6.65 million to its $70 million domestic loan to the company, and allowing Gibson to use the proceeds to make a payment due on its $60 million international loan.

Two weeks ago, the company posted improved results for the third quarter ended in September, with revenue on musical instruments up roughly 7% to $75 million, one of the people said. Overall sales declined 15% to $239 million, however, because of a sharp decline in the electronics side of the business, the person said. The company's Ebitda increased about 3.5% to over $19 million.

Moody's Investors Service downgraded the company's debt further into junk level in August, saying its capital structure is unsustainable.

Henry Juszkiewicz, owner of Gibson Brands, took the company in a new direction in recent years by acquiring home entertainment and audio equipment makers around the world, and piling on debt doing so.

In 2013, the Nashville-based company changed its name from Gibson Guitars to Gibson Brands. Among businesses the company has added are some of Royal Phillips' home entertainment systems, TEAC and Onkyo stereos.

Gibson, manufacturer of the iconic Les Paul electric guitar, also makes instruments under a number of brand names including Epiphone, Kramer and Tobias. The company also owns a number of historic brands, including Slingerland drums and Wurlitzer pianos.

Write to Soma Biswas at [e-mail]


(END) Dow Jones Newswires

December 08, 2017 15:30 ET (20:30 GMT)


Copyright (c) 2017 Dow Jones & Company, Inc.

[sandyraveon]

blackstone & titus
https://www.pehub.com/canada/2017/12/blackstone-acquires-secure-data-classification-provider-titus/

[sandyraveon]

Blackstone University Develops It's Talent In-House
https://www.bloomberg.com/news/articles/2017-12-07/goldman-blackrock-and-blackstone-will-they-still-rule-wall-street-in-10-years

;)

[sandyraveon]

https://www.blackstone.com/investors/smaller-institutions-and-individuals

[sandyraveon]

bx's new smaller-institutions & individuals focus

https://www.blackstone.com/investors/smaller-institutions-an...

watched the joan solotar interview live on cnbc...interesting then thought to check blackstone.com (see link above)!

she envisions this new BX SII segment materially (by 50% I think she quoted) increasing aum and accordingly ENI, DE & the Distribution. I was thinking this new segment might have been rolled out later as a safer IRA vehicle (helping to save social security)championed by Tony James but this earlier roll-out gets us market awareness and a track record for any such future IRA implementations. Q4 for this new segment will be interesting for actual and projected #'s.

bottom line, blackstone is still a bargain here. ajimhothough. gl

[diddobuyer]

Yeah down 10 percent in 2 weeks turning into a POS

[sandyraveon]

bx and looming ge asset sales

imho bx should load up the boat on ge's divestitures...clearly though, at fire sale prices ONLY.

[JWard99]

$34.50 very soon. Stay long, never sell this beast, especially short is just plain insane. I am bullish.

[mick]

The Blackstone Grp. (BX)
31.61 ? -0.01 (-0.03%)
Volume: 1,367,473 @ 5:14:28 PM EDT ET
Bid Ask Day's Range
- - 31.41 - 31.7314
BX Detailed Quote

[mick]

thank you, $BX

[bosman]

Blackstone (NYSE:BX) today announced that Kelley Morrell will join Blackstone as a Managing Director and Head of Asset Management for its Tactical Opportunities business. In that role, she will be responsible for ongoing management and oversight of the group's investment portfolio, and creating and driving added-value initiatives alongside the investment team.

Morrell joins Blackstone from CIT, a financial holding company with more than $50 billion in assets, where she served as Executive Vice President and Chief Strategy Officer. At CIT, Morrell helped shape the company's strategic direction following its emergence from bankruptcy, and led numerous strategic transactions that contributed to CIT's transformation to a bank. Prior to that, Morrell served as senior director of the U.S. Treasury's Automotive Industry Financing Program during the Obama Administration, where she had primary responsibility of overseeing the taxpayer's investments in Chrysler Financial and Chrysler Group. Morrell graduated magna cum laude from Harvard College and received her MBA with distinction from Harvard Business School.

David Blitzer, Global Head of Blackstone's Tactical Opportunities group, said: "We are excited to have Kelley join Blackstone. She has a strong track record of successfully managing complex situations with various stakeholders across multiple industries. We look forward to her delivering that expertise and judgment to our portfolio."

Kelley Morrell added: "I am thrilled to have the opportunity to join Blackstone Tactical Opportunities. It's an innovative strategy with a diverse and differentiated portfolio of investments, and I am looking forward to leading the group's asset management effort for the benefit of our investors."

About Blackstone:

Blackstone is one of the world's leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with over $370 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

About Tactical Opportunities:

Tactical Opportunities (Tac Opps) is Blackstone's opportunistic investment platform. The Tac Opps team invests globally across asset classes, industries and geographies, seeking to identify and execute on attractive, differentiated investment opportunities. As part of the strategy, the team leverages the intellectual capital across Blackstone's various businesses while continuously optimizing its approach in the face of ever-changing market condition

[mick]

i really like 'Blackstone Group (BX)'

[Scotttrader80]

UP is good :)

[mick]

BX News: Statement of Changes in Beneficial Ownership (4) 05/26/2017 06:02:20 PM
BX News: Blackstone Reaches 50,000 American Military Veterans Hiring Target Ahead of Schedule; Commits to New, Additional 50,000 Veter... 05/25/2017 01:55:00 PM

[mick]

BX News: CF Corporation to Acquire Fidelity & Guaranty Life in Transformative All-Cash Transaction Valued at $1.835 Billion 05/24/2017 06:00:00 AM

[mick]

BX News: Blackstone Mortgage Trust Announces Full Exercise Of Underwriters' Over-Allotment Option And Issuance Of Additional Convertib... 05/23/2017 05:00:00 PM
BX News: Form 13f Holdings Report (13f-hr) 05/15/2017 05:25:01 PM

[mick]

The Blackstone Grp. (BX)
32.6649 ? -0.1951 (-0.59%)
Volume: 1,921,810 @ 11:26:19 AM ET
Bid Ask Day's Range
- - 32.36 - 33.08
BX Detailed Quote

[mick]

i sawer this. saudi deal/ 'Blackstone Group (BX)'

[Scotttrader80]

Nothing like weekend news to make Monday VERY pleasant. Thanks Donald!

[Cheetah SPEED]

Nice pop. Your DD is best in the business

[BlueAlien]

Dragon Challenge - Bush Gardens, Orlando, FL

The ride was themed to two dueling dragons, with one track named Ice and the other named Fire.

https://en.wikipedia.org/wiki/Dragon_Challenge

[LasNubes]

I have been adding on the retrace.

Perfectly comfortable at these levels

[3ch0]

Full Agreement , I have been all over these since last year. Squeeze soon it appears.
Float of 2.07% with $1.12 Billion sitting short.

[Jld3294]

You think I can snag this around $28 on a pullback or should I grab it now before it heads higher?

This is a great total return stock.

[3ch0]

Agreed. It is looking ready now. BX

[LasNubes]

BX is ready for the next leg up.

[LasNubes]

BX should move up on the Anadarko deal in Texas. The target price here is $60 which makes this a double your money investment.

[3ch0]

Outstanding $BX

[3ch0]

Very nice. Strong week ahead it appears. $BX

[808Options]

I just trade the chart my friend. BX chart looking bearish and the option activities confirms it. I mean why would you buy something thats under every moving average? I don't claim to be an expert by any stretch but you can probably get it a buck or two cheaper. PUT's are still being bought. I think largely because there is NTB, so most can't short the stock. JMHO

[BottomBounce]

Eye-Catching Stocks $BX Blackstone Group, (NYSE:BX) http://www.newsismoney.com/2016/10/17/eye-catching-stocks-amyris-nasdaqamrs-blackstone-group-nysebx/

[808Options]

I been following the option activity for BX. Lots of NOV PUT's being bought, verses low open interest. Earnings on 10/27, options expire after earnings. GLTU

[art23]

Looking to get in here. What's the difference between BX and BXMT?

[3ch0]

http://www.hilltopmhc.com/jrm-investment-counsel-llc-increases-stake-in-the-blackstone-group-l-p-bx/

[Tripledog]

I agree! at lest I got my average down to 22.80 today

[maxxLauren]

Hopefully we can close green today. The pps is way to low here

[Tripledog]

Added @23.50 heck of a drop wonder how much lower it will go

[Tripledog]

Soaked up some shares under 25.00 yesterday hope for another chance

[Tripledog]

New 52week low !

[Tripledog]

BX nice close above the 50ma

[Timothy Smith]

$PJT Following the spinoff from Blackstone, PJT now has 39.2 million fully-diluted shares outstanding. Of these shares, 15.4 million shares are "in float" or available for trading.

Over the past two years, PJT has grown revenues from $355 million in 2012 to $401 million in 2014.
This year is expected to be a consolidation year as the firm focuses on separating from Blackstone and building it's own independent business.

In 2016, PJT expects to resume revenue growth through building relationships and the synergies between its different business lines, while keeping expenses relatively in-line with 2015 levels.

[Tripledog]

Has anyone noticed what has happened after the last 3 death crosses ? Every time $$$$$$$ Imo

[Tripledog]

Any one here added for the spinoff shares ? I did

[Tripledog]

Back in yesterday @ 32.50
Nice little bounce this morning

[Tripledog]

Nice buys after hrs. Always a good sign Imo
I added more to my stash today

[Tripledog]

New 52 week high coming Imo
Just love the dividends they keep pumping out
I'm long from now till the end of days
By and hold forever stock Imo
Will look back and see if I was somewhat right in 10 years

[Tripledog]

Going lower ? Hope so I will add more

[OGSPECULATOR]

Quiet forum!

[Timothy Smith]

"The focus is on stressed, not distressed oil and gas companies in good areas," says Patrick Fleury, managing director at Blackstone's (NYSE:BX) GSO Capital Partners. The team there feels oil prices are set to renew their decline and wants to hold assets of high enough quality and low enough cost to pay off if the price forecast is correct.

[Tripledog]

Hit 41.00 today nice