Company: BXSL
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001736035-25-000021
Chunk: 231

Company: Blackstone Secured Lending Fund
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 231
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 items794 11,215 25,452 12,647 Total Interest Expense$94,691 $88,191 $279,954 $233,752 Cash paid for interest expense$113,467 $104,074 $278,653 $237,732 

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 September 30, 2025 and December 31, 2024, the Company had unfunded commitments, including delayed draw term loans and revolvers, with an aggregate amount of $2.0 billion and $1.7 billion, respectively.Additionally, from time to time, the Advisers and their affiliates may commit to an investment on behalf of the investment vehicles they manage, 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 September 30, 2025 and December 31, 2024, the Company estimates that $320.3 million and $162.3 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 September 30, 2025 and December 31, 2024, 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 Common Shares began trading on the NYSE under the symbol “BXSL.”As of September 30, 2025, the Company is party to eight separate equity distribution agreements with sales agents (“Equity Distribution Agreements”), pursuant to which the Company may sell, from time to time, up to an aggregate sales price of $600.0 million of its Common Shares. Sales of Common Shares made pursuant to the Equity Distribution Agreements may be made in negotiated transactions or transactions that are deemed to be “at-the-market” offerings as defined in Rule 415(a)(5) under the Securities Act