Company: BXSL
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001736035-25-000013
Chunk: 3

Company: Blackstone Secured Lending Fund
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 3
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 gain (loss)— — 6,143 6,143 Net change in unrealized appreciation (depreciation)— — 11,766 11,766 Dividends declared and payable from net investment income— — (147,743)(147,743)Balance, March 31, 2024$192 $4,869,433 $286,040 $5,155,665 

(1)The par amount of the shares is less than 1,000 and rounds to zero.

The accompanying notes are an integral part of these condensed consolidated financial statements.

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Table of ContentsBlackstone Secured Lending FundCondensed Consolidated Statements of Changes in Cash Flows(in thousands)(Unaudited)

Three Months Ended March 31, 20252024Cash flows from operating activities:Net increase (decrease) in net assets resulting from operations$149,809 $183,755 Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:Net change in unrealized (appreciation) depreciation on investments40,754 (11,787)Net change in unrealized (appreciation) depreciation on derivative instruments1,921 — Net change in unrealized (appreciation) depreciation on translation of assets and liabilities in foreign currencies(282)21 Net realized (gain) loss on investments(8,525)(428)Net change due to hedging activity(1,124)— Net accretion of discount and amortization of premium(16,419)(9,706)Payment-in-kind interest capitalized(22,613)(19,977)Amortization of deferred financing costs1,409 1,698 Amortization of original issue discount and debt issuance costs3,350 2,041 Purchases of investments(689,214)(719,149)Proceeds from sale of investments and principal repayments977,955 186,666 Changes in operating assets and liabilities:Interest receivable4,789 (9,883)Receivable for investments(5,447)1,281 Derivative instruments, net(7,468)— Receivable from broker(4,763)— Payable for investments8,271 10,756 Due to affiliates(89)(169)Management fees payable1,996 3,006 Income based incentive fees payable(4,