Star gets potential lifeline as Oaktree offers refinancing; shares rally
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 17 2025
0mins
Should l Buy BX?
Source: Reuters
Debt Refinancing Offer: Star Entertainment announced that Oaktree Capital Management has proposed to refinance A$650 million of its debt, which could provide significant relief for the struggling casino operator facing a cash crunch and regulatory challenges.
Market Reaction and Conditions: Following the announcement, Star's shares rose by 8.3%, but the company warned that accepting Oaktree's offer may dilute current shareholders' stakes, and several conditions must be met for the proposal to proceed.
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Analyst Views on BX
Wall Street analysts forecast BX stock price to rise
12 Analyst Rating
5 Buy
7 Hold
0 Sell
Moderate Buy
Current: 114.990
Low
166.00
Averages
176.60
High
205.00
Current: 114.990
Low
166.00
Averages
176.60
High
205.00
About BX
Blackstone Inc. is an alternative asset manager. Its asset management includes global investment strategies focused on real estate, private equity, infrastructure, life sciences, growth equity, credit, real assets, secondaries, and hedge funds. Its Real Estate segment comprises its management of opportunistic real estate funds, Core+ real estate funds, and real estate debt strategies. Its Private Equity segment includes its management of flagship Corporate Private Equity funds, sector and geographically focused Corporate Private Equity funds, core private equity funds, an investment platform, and others. Its Credit & Insurance segment consists of Blackstone Credit & Insurance, which is organized into three overarching strategies: private corporate credit, liquid corporate credit and infrastructure and asset-based credit. Its Multi-Asset Investing segment is organized into four investment platforms: Absolute Return, Multi-Strategy, Total Portfolio Management, and Public Real Assets.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- High-Risk Alerts: The bankruptcies of First Brands and Tricolor prompted JPMorgan CEO Jamie Dimon to warn of potential systemic issues in private credit, highlighting vulnerabilities within the sector.
- Investor Structure Shift: Unlike the depositors during the 2008 crisis, the current investor base for private credit consists mainly of institutional investors such as pensions and sovereign wealth funds, which are more capable of locking up capital for extended periods, thereby reducing systemic risk.
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