Company: BXSL
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001736035-25-000008
Chunk: 165

Company: Blackstone Secured Lending Fund
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 165
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 fair market value measurement, respectively.

Financial Instruments Not Carried at Fair ValueDebtThe fair value of the Company’s SPV Financing Facilities (as defined in Note 7) and Revolving Credit Facility (as defined in Note 7), as of December 31, 2024 and December 31, 2023, approximates their carrying value as the credit facilities have variable interest based on selected short-term rates. These financial instruments would be categorized as Level 3 within the hierarchy.The following table presents the fair value measurements of the Company's Unsecured Notes (as defined in Note 7) had they been accounted for at fair value. These financial instruments would be categorized as Level 3 within the hierarchy as of December 31, 2024 and December 31, 2023.

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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, 2024December 31, 2023Fair ValueFair Value2026 Notes$788,880 $763,085 New 2026 Notes672,420 643,814 2027 Notes608,725 583,633 2028 Notes590,200 561,129 November 2027 Notes406,440 — April 2028 Notes698,460 — 2024-1 Notes457,568 — Total$4,222,693 $2,551,661 Other

As of December 31, 2024 and December 31, 2023 the carrying amounts of the Company’s other assets and liabilities approximate fair value. These financial instruments would be categorized as Level 3 within the fair value hierarchy. 

Note 6. Derivatives

The Company enters into derivative financial instruments in the normal course of business to achieve certain risk management objectives, including managing its interest rate risk exposures.The net fair value of interest rate derivative contracts are included within Derivative assets at fair value or Derivative liabilities at fair value in the Consolidated Statements of Assets and Liabilities.The following table presents the aggregate notional amount and fair value hierarchy of the Company’s derivative financial instruments as of December 31, 2024:December 31, 2024Level 1Level 2Level 3Total Fair ValueNotionalDerivative AssetsForeign currency forward contracts$— $2,401 $— $2,401 $171,016 Interest