Company: BXSL
Filing Date: 2025-10-08
Form Type: 424B2
Source: 0001213900-25-097397
Chunk: 10

Company: Blackstone Secured Lending Fund
Filing Date: 2025-10-08
Form: 424B2
Chunk 10
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 31, commencing January 31, 2026. |
| Ranking of Notes              |     | The Notes will be our general unsecured obligations that rank senior in right of payment to all of our existing and future indebtedness that is expressly subordinated in right of payment to the Notes. The Notes will rank equally in right of payment with all of our existing and future senior liabilities that are not so subordinated, or junior, including without limitation, our 3.625% notes due 2026, which will mature on January 15, 2026 (the “2026 Notes”), our 2.750% notes due 2026, which will mature on September 16, 2026 (the “New 2026 Notes”), our 2.125% notes due 2027, which will mature on February 15, 2027 (the “2027 Notes”), our 5.875% Notes due 2027, which will mature on November 15, 2027 (the “November 2027 Notes”), our 2.850% notes due 2028, which will mature on September 30, 2028 (the “2028 Notes”), our 5.350% notes due 2028, which will mature on April 13, 2028 (the “April 2028 Notes”) and our 5.300% Notes due 2030, which will mature on June 30, 2030 (the “June 2030 Notes” and, together with the 2026 Notes, the New 2026 Notes, the 2027 Notes, the November 2027 Notes, the 2028 Notes and the April 2028 Notes, the “Existing Unsecured Notes”), rank effectively subordinated, or junior, to any of our secured indebtedness (including unsecured indebtedness that we later secure) to the extent of the value of the assets securing such indebtedness, and rank structurally junior to all existing and future indebtedness (including trade payables) incurred by our subsidiaries, financing vehicles or similar facilities. |
|                               |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 As of June 30, 2025, our total consolidated indebtedness, at par, was approximately $7.1 billion, $2.7 billion of which was secured (of which $1.5 billion was indebtedness of our subsidiaries) and $4.4 billion of which was unsecured. See “Capital