Company: BXSL
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001736035-25-000008
Chunk: 665

Company: Blackstone Secured Lending Fund
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1B
Chunk 665
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 Gain (loss) from interest rate swaps accounted for as hedges and the related hedged items:Interest rate swaps2,045 — — Hedged items(2,896)— — Total Interest Expense$326,133 $266,420 $203,579 Cash paid for interest expense$297,469 $256,478 $182,152 

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

Note 8. Commitments and Contingencies

Portfolio Company CommitmentsThe Company’s investment portfolio contains debt investments which are in the form of lines of credit or delayed draw commitments, which require us to provide funding when requested by portfolio companies in accordance with underlying loan agreements. As of December 31, 2024 and December 31, 2023, the Company had unfunded commitments, including delayed draw term loans and revolvers, with an aggregate amount of $1.7 billion and $985.9 million, respectively.Additionally, from time to time, the Adviser and its affiliates may commit to an investment on behalf of the investment vehicles it manages, including the Company. Certain terms of these investments are not finalized at the time of the commitment and each respective investment vehicle’s allocation may change prior to the date of funding. In this regard, as of December 31, 2024 and December 31, 2023, the Company estimates that $162.3 million and $221.3 million, respectively, of investments were committed but not yet funded. Other Commitments and ContingenciesFrom time to time, the Company may become a party to certain legal proceedings incidental to the normal course of its business. As of December 31, 2024 and December 31, 2023, management is not aware of any material pending legal proceedings.

Note 9. Net Assets

Shares IssuedThe Company has the authority to issue an unlimited number of Common Shares at $0.001 per share par value.On October 28, 2021, the Company priced its IPO, and the Company’s Common Shares began trading on the NYSE under the symbol “BXSL.”On August 14, 2023, the Company completed a follow-on offering under its shelf registration statement, issuing 6,500,000 of its Common Shares at a price to the underwriters of $26.78 per share. Net