Company: BXSL
Filing Date: 2025-01-21
Form Type: 424B2
Source: 0001193125-25-008530
Chunk: 60

Company: Blackstone Secured Lending Fund
Filing Date: 2025-01-21
Form: 424B2
Chunk 60
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 failure to invest a sufficient portion of our assets in Qualifying Assets could result in our failure to maintain our status as a BDC. |

| • |     | Regulations governing our operation as a BDC and RIC will affect our ability to raise, and the way in which we raise, additional capital or borrow for investment purposes. |

Risks Related to Debt Financing

| • |     | We borrow money, which magnifies the potential for loss on amounts invested in us and may increase the risk of investing in us. |

| • |     | Provisions in a credit facility may limit our investment discretion. |

| • |     | We are subject to risks associated with the unsecured notes and debt securitizations that we have issued and our credit facilities. |

Federal Income Tax Risks

| • |     | We will be subject to corporate-level income tax if we are unable to qualify as a RIC under Subchapter M of the Code or to satisfy RIC distribution requirements. |

| • |     | Our portfolio investments may present special tax issues. |

| • |     | Legislative or regulatory tax changes could adversely affect investors. |

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Risks Related to an Investment in the Shares

| • |     | An investment in our shares involves a high degree of risk, our NAV may fluctuate significantly and our shares will have limited liquidity. |

| • |     | Shares of closed-end investment companies, including BDCs, often trade at a discount to their net asset value. |

| • |     | There is a risk that investors in our equity securities will not receive distributions or that our distributions do not grow over time and a portion of our distributions could be a return of capital. |

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OFFERINGS Under the shelf registration process, which constitutes a delayed offering in reliance on Rule 415 under the Securities Act, we may offer, from time to time, in one or more offerings or series, our common shares, preferred shares, debt securities, subscription rights to purchase our securities, or warrants representing rights to purchase our securities on terms to be determined at the time of the offering. We will offer our securities at prices and on terms to be set forth in one or more supplements to this prospectus. We may offer our securities directly to one or more purchasers, including existing shareholders in a rights offering, through agents that we designate from time to time or to or through underwriters or dealers. The prospectus supplement relating to