Company: BXSL
Filing Date: 2025-07-11
Form Type: N-2ASR
Source: 0001213900-25-063269
Chunk: 3

Company: Blackstone Secured Lending Fund
Filing Date: 2025-07-11
Form: N-2ASR
Chunk 3
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 returns; maintaining rigorous portfolio monitoring, in an attempt to anticipate and pre-empt negative credit events within our portfolio; and utilizing the power and scale of Blackstone and the Blackstone Credit & Insurance platform to offer operational expertise to portfolio companies through the Value Creation Program (as defined below). Our common shares of beneficial interest (“common shares”), preferred shares of beneficial interest (“preferred shares”), debt securities, subscription rights to purchase our securities or warrants representing rights to purchase our securities (collectively, the “securities”) may be offered at prices and on terms to be disclosed in one or more supplements to this prospectus. You should read this prospectus and the applicable prospectus supplement carefully before you invest in our securities. The securities may be offered directly to one or more purchasers, including existing shareholders in a rights offering, or through agents designated from time to time by us, or to or through underwriters or dealers. Each prospectus supplement relating to an offering will identify any agents or underwriters involved in the sale of the securities, and will disclose any applicable purchase price, fee, discount or commissions arrangement between us and our agents or underwriters or among our underwriters or the basis upon which such amount may be calculated. See “ Plan of Distribution ” in this prospectus. We may not sell any of the securities pursuant to this registration statement through agents, underwriters or dealers without delivery of this prospectus and a prospectus supplement describing the method and terms of the offering of such securities. Our common shares are traded on the New York Stock Exchange (“NYSE”) under the symbol “BXSL.” On July 10, 2025, the last reported sales price of our common shares on the NYSE was $31.56 per share. The net asset value per share of our common shares at March 31, 2025 (the last date prior to the date of this prospectus for which we reported net asset value) was $27.39. ______________________ Investing in our securities involves a high degree of risk, including credit risk and the risk of the use of leverage, and is highly speculative. In addition, shares of closed -end investment companies, including BDCs, frequently trade at a discount to their net asset values. Before investing in our securities, you should read the discussion of the material risks of investing in our securities, including the risk of leverage, in “ Risk Factors ” beginning on page 25 of this prospectus, Part I, Item 1A “Risk Factors” in our most recent Annual Report on Form