Company: BXSL
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001736035-25-000008
Chunk: 486

Company: Blackstone Secured Lending Fund
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1B
Chunk 486
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ortized debt issuance costs of $34,877 and $25,953, respectively)$7,056,091 $4,911,930 Payable for investments19,277 8,566 Due to affiliates7,112 8,925 Management fees payable (Note 3)32,305 23,034 Income based incentive fees payable (Note 3)38,708 34,373 Capital gains based incentive fees payable (Note 3)— — Interest payable53,958 39,880 Distribution payable (Note 9)170,751 143,052 Accrued expenses and other liabilities17,501 12,817 Total liabilities7,395,703 5,182,577 Commitments and contingencies (Note 8)NET ASSETSCommon Shares, $0.001 par value (unlimited shares authorized; 221,892,184 and 185,782,408 shares issued and outstanding, respectively)222 186 Additional paid in capital5,749,762 4,701,827 Distributable earnings (loss)326,537 250,028 Total net assets6,076,521 4,952,041 Total liabilities and net assets$13,472,224 $10,134,618 NET ASSET VALUE PER SHARE$27.39 $26.66 

The accompanying notes are an integral part of these consolidated financial statements.

134

Table of ContentsBlackstone Secured Lending FundConsolidated Statements of Operations(in thousands, except share and per share amounts)

For the Year Ended December 31,202420232022Investment income: From non-controlled/non-affiliated investments: Interest income$1,239,915 $1,089,044 $796,499 Payment-in-kind interest income81,388 47,076 40,324 Dividend income243 387 9,307 Fee income3,663 7,010 4,162 From non-controlled/affiliated investments:Interest income428 — — Payment-in-kind interest income1,264 — — Total investment income1,326,901 1,143,517 850,292 Expenses:Interest expense326,133 266,420 203,579 Management fees (Note 3)116,616 98,122 101,707 Income based incentive fees (Note 3