Blackstone defaults on $562M Finnish-backed bond, Bloomberg reports

Blackstone defaulted on a $562M bond backed by a portfolio of Finnish offices and stores as interest rate hikes have impacted property values in Europe, Bloomberg’s Jack Sidders reports. The company, which acquired landlord Sponda Oy in 2018, was aiming to get an extension from holders of the securitized notes to sell the assets and repay the debt, the author says, citing people with knowledge of the plan. Reference Link