Company: BXSL
Filing Date: 2025-10-06
Form Type: 424B2
Source: 0001213900-25-096307
Chunk: 0

Company: Blackstone Secured Lending Fund
Filing Date: 2025-10-06
Form: 424B2
Chunk 0
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Pursuant to Rule 424(b)(2) Registration No. 333-288640 The information in this preliminary prospectus supplement is not complete and may be changed. A registration statement relating to these securities has been filed with and declared effective by the Securities and Exchange Commission. This preliminary prospectus supplement and the accompanying prospectus are not an offer to sell these securities and are not soliciting an offer to buy these securities in any jurisdiction where the offer or sale is not permitted .

Subject to Completion Preliminary Prospectus Supplement dated October 6, 2025 PROSPECTUS SUPPLEMENT (To Prospectus dated July 11, 2025) $ BLACKSTONE SECURED LENDING FUND % Notes due __________________________ We are offering $in aggregate principal amount of% notes due, which we refer to as the Notes. The Notes will mature on,. We will pay interest on the Notes onandof each year, beginning on, 2026. We may redeem the Notes in whole or in part at any time or from time to time at the redemption price discussed under the caption “Description of Notes — Optional Redemption” in this prospectus supplement. In addition, holders of the Notes can require us to repurchase some or all of the Notes at 100% of their principal amount upon the occurrence of a Change of Control Repurchase Event (as defined herein). The Notes will be issued in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. The Notes will be our direct, general unsecured obligations and rank pari passu , or equal, with all existing and future unsecured unsubordinated indebtedness issued by us, but will rank senior to our future indebtedness that is expressly subordinated in right of payment to the Notes. We are a specialty finance company that has elected to be regulated as a business development company (“BDC”) under the Investment Company Act of 1940, as amended (the “1940 Act”). We seek to generate current income primarily through direct originations of senior secured loans and, to a lesser extent, originations of mezzanine and unsecured loans and investments in corporate bonds and equity securities. Our adviser, Blackstone Private Credit Strategies LLC (the “Adviser”), and our sub -adviser , Blackstone Credit BDC Advisors LLC (the “ Sub -Adviser ” and, together with the Adviser, the “Advisers”), are affiliates of Blackstone Alternative Credit Advisors LP (the “ Sub -Administrator ” and,