Company: BXSL
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001736035-25-000008
Chunk: 643

Company: Blackstone Secured Lending Fund
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1B
Chunk 643
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 financial instruments. These tables are not intended to be all-inclusive but instead capture the significant unobservable inputs relevant to the Company’s determination of fair value.December 31, 2024RangeFair ValueValuation TechniqueUnobservable InputLowHighWeighted Average (1)Investments in first lien debt$12,546,382 Yield AnalysisDiscount Rate7.00 %22.67 %10.15 %102,316 Market QuotationsBroker quoted price97.00100.57100.0863,879 Asset RecoverabilityMarket Multiple10.00x10.75x10.40x2,059 Asset RecoverabilityDiscount Rate10.33 %10.92 %10.36 %12,714,636 Investments in second lien debt119,184 Yield AnalysisDiscount Rate8.86 %16.73 %11.52 %Investments in unsecured debt33,521 Yield AnalysisDiscount Rate7.71%13.94%10.12%Investments in equity69,633 Market ApproachPerformance Multiple2.30x30.00x10.11x21,697 Yield AnalysisDiscount Rate9.54 %19.47 %15.55 %14,499 Option Pricing Model Expected Volatility23.50 %70.50 %34.03 %3,166 Asset RecoverabilityMarket Multiple10.00x10.75x10.50x429 Transaction PriceN/A109,424 Total$12,976,765 

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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)

December 31, 2023RangeFair ValueValuation TechniqueUnobservable InputLowHighWeighted Average (1)Investments in first lien debt$9,533,700 Yield AnalysisDiscount Rate7.68 %30.89 %10.31 %30,503 Asset RecoverabilityMarket Multiple10.50x10.50x10.50x9,564,203 Investments in second lien debt41,515 Yield AnalysisDiscount Rate10.18 %14.38 %12.69 %Investments in unsecured debt9,924 Yield AnalysisDiscount Rate14.90%14.90%14.90%Investments in equity60,007