Company: BXSL
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001736035-25-000008
Chunk: 664

Company: Blackstone Secured Lending Fund
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1B
Chunk 664
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 available reflects any limitations related to each respective credit facility’s borrowing base.(3)Under the Jackson Hole Funding Facility, the Company may borrow in U.S. dollars (USD) or certain other permitted currencies. As of December 31, 2023, the Company had no borrowings denominated in currencies other than USD.(4)Under the Revolving Credit Facility, the Company may borrow in USD or certain other permitted currencies. As of December 31, 2023, the Company had non-USD borrowings denominated in the following currencies:•Canadian Dollars (CAD) 1.0 million•Euros (EUR) 94.4 million•British Pounds (GBP) 66.9 million

As of December 31, 2024 and December 31, 2023, $53.4 million and $38.7 million, respectively, of interest expense and $0.6 million and $1.2 million, respectively, of unused commitment fees were included in interest payable. For the years ended December 31, 2024, 2023 and 2022, the weighted average interest rate (including unused fees, accretion of net discounts on unsecured debt and the impact of the application of hedge accounting) on all borrowings outstanding was 5.32%, 4.93%, and 3.46%, respectively. For the years ended December 31, 2024, 2023 and 2022, the weighted average all-in cost of debt (including unused fees, accretion of net discounts on unsecured debt, amortization of deferred financing costs, and the impact of the application of hedge accounting) was 5.42%, 5.05% and 3.55%, respectively.For the years ended December 31, 2024, 2023 and 2022, the average principal debt outstanding was $6,014.3 million, $5,275.4 million and $5,732.6 million, respectively. The components of interest expense were as follows: For the Year Ended December 31,202420232022Borrowing interest expense$306,379 $246,642 $187,035 Facility unused fees4,605 4,971 2,131 Amortization of deferred financing costs6,101 5,471 4,008 Amortization of original issue discount and debt issuance costs9,899 9,336 10,405