Company: BXSL
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001736035-25-000021
Chunk: 237

Company: Blackstone Secured Lending Fund
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 237
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, plus distributions per share (assuming dividends and distributions are reinvested in accordance with the DRIP) divided by the beginning NAV per share. Total return does not include sales load.(4)Total return based on market value is calculated as the change in market value per share during the respective periods, taking into account distributions, if any, reinvested in accordance with the DRIP.(5)Amounts are annualized except for amounts relating to excise and other tax expense. For the nine months ended September 30, 2025 and 2024, the ratio of total operating expenses to average net assets was 10.6% and 11.1%.

The following is information about the Company’s senior securities as of the dates indicated in the table below: Class and PeriodTotal Amount Outstanding Exclusive of Treasury Securities (1)Asset Coverage per Unit (2)Involuntary Liquidating Preference per Unit (3)Average Market Value per Unit (4)Subscription FacilitySeptember 30, 2025$— $— —N/ADecember 31, 2024— — —N/ADecember 31, 2023— — —N/ADecember 31, 2022— — —N/ADecember 31, 2021— — —N/ADecember 31, 2020— — —N/ADecember 31, 2019119,752 2,151 —N/ADecember 31, 2018— — —N/A

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Table of ContentsBlackstone Secured Lending FundNotes to Condensed Consolidated Financial Statements(Unaudited)(in thousands, except share amounts, per share data, percentages and as otherwise noted)

Class and PeriodTotal Amount Outstanding Exclusive of Treasury Securities (1)Asset Coverage per Unit (2)Involuntary Liquidating Preference per Unit (3)Average Market Value per Unit (4)Jackson Hole Funding FacilitySeptember 30, 2025$61,874 $1,817 —N/ADecember 31, 2024399,874 1,857 —N/ADecember 31, 2023233,019 2,003 —N/ADecember 31, 2022360,019 1,748 —N/ADecember 31, 2021361,007 1,802 —