|
BORROWINGS (Tables)
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6 Months Ended |
|
Jun. 30, 2012
|
| Carrying Value and Fair Value of Blackstone Issued Notes |
The carrying
value and fair value of the Blackstone issued notes as of
June 30, 2012 and December 31, 2011 were:
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June 30,
2012 |
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December 31,
2011 |
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Carrying
Value |
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Fair
Value
(a) |
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|
Carrying
Value |
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|
Fair
Value
(a) |
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|
Blackstone Issued 5.875%,
$400 Million Par, Notes Due 3/15/2021
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|
$ |
398,310 |
|
|
$ |
418,480 |
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|
$ |
398,237 |
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|
$ |
404,160 |
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|
Blackstone Issued 6.625%,
$600 Million Par, Notes Due 8/15/2019
|
|
$ |
660,149 |
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|
$ |
655,260 |
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|
$ |
653,467 |
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|
$ |
640,440 |
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| (a) |
Fair value is determined by
broker quote and these notes would be classified as Level II within
the fair value hierarchy. |
|
| Partnership's Borrowings Through Consolidated CLO Vehicles |
At
June 30, 2012 and December 31, 2011, the
Partnership’s borrowings through consolidated CLO vehicles
consisted of the following:
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June 30,
2012 |
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December 31,
2011 |
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Borrowing
Outstanding |
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|
Weighted
Average
Interest
Rate |
|
Weighted
Average
Remaining
Maturity
in Years |
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Borrowing
Outstanding |
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|
Weighted
Average
Interest
Rate |
|
Weighted
Average
Remaining
Maturity
in Years |
|
|
Senior Secured
Notes
|
|
$ |
11,927,078 |
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|
1.66% |
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|
4.7 |
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|
$ |
8,250,418 |
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|
1.96% |
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|
4.3 |
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Subordinated
Notes
|
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|
1,424,900 |
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|
(a) |
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5.5 |
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|
1,117,571 |
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(a) |
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7.2 |
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$ |
13,351,978 |
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$ |
9,367,989 |
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| (a) |
The Subordinated Notes do
not have contractual interest rates but instead receive
distributions from the excess cash flows of the CLO
vehicles. |
|
| Scheduled Principal Payments for Borrowings |
Scheduled
principal payments for borrowings as of June 30, 2012 were as
follows:
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Operating
Borrowings |
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Blackstone Fund
Facilities / CLO
Vehicles |
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Total
Borrowings |
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|
2012
|
|
$ |
594 |
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|
$ |
7,606 |
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$ |
8,200 |
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2013
|
|
|
1,188 |
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|
85,192 |
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|
86,380 |
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2014
|
|
|
5,040 |
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|
289,770 |
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|
294,810 |
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2015
|
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— |
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|
624,007 |
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|
624,007 |
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Thereafter
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|
1,000,000 |
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|
12,362,341 |
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|
13,362,341 |
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Total
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|
$ |
1,006,822 |
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$ |
13,368,916 |
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|
$ |
14,375,738 |
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