04:17 PM EDT, 03/25/2024 (MT Newswires) -- Blackstone-backed (BX) event services company Encore Group is planning to offer at least $500 million in preferred equity to deal with credit due in 2025 and 2026, Bloomberg News reported Monday, citing people familiar with the matter.

Encore is working with Goldman Sachs (GS) to repay a total of nearly $2.5 billion in loans due in two years, according to the report.

Neither Blackstone nor Encore immediately responded to MT Newswires' requests for comments. Goldman Sachs declined to comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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