Company: BXSL
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001736035-25-000021
Chunk: 332

Company: Blackstone Secured Lending Fund
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 8
Chunk 332
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 120,688 0.9 2.0 Asia11,908 12,117 0.1 0.2 Total$13,932,697 $13,809,636 100.0 %220.3 %

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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)

December 31, 2024CostFair Value% of Total Investments at Fair ValueFair Value as % of Net AssetsUnited States$11,663,322 $11,595,231 88.6 %190.8 %Europe1,138,542 1,104,837 8.4 18.2 Canada241,124 242,103 1.8 4.0 Bermuda/Cayman Islands149,595 149,735 1.2 2.5 Asia636 612 0.0 0.0 Total$13,193,219 $13,092,518 100.0 %215.5 %

As of September 30, 2025 and December 31, 2024, three borrowers (across four loans) and four borrowers (five loans) in the portfolio were on non-accrual status, respectively.As of September 30, 2025 and December 31, 2024, on a fair value basis, 99.4% and 99.8%, respectively, of performing debt investments bore interest at a floating rate and 0.6% and 0.2%, respectively, of performing debt investments bore interest at a fixed rate.

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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)

Note 5. Fair Value Measurements

The following tables present the fair value hierarchy of financial instruments: September 30, 2025Level 1Level 2Level 3TotalFirst lien debt$— $212,419 $13,257,332 $13,469,751 Second lien debt— — 226,249 226,249 Unsecured debt— — 13,991 13,991 Equity1,663 — 97,982 99,645