Company: BXSL
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001736035-25-000008
Chunk: 167

Company: Blackstone Secured Lending Fund
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 167
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800 3,037 $(7,164)$2,401 $4,763 $— $9,570 $4,807 (1)No non-cash collateral has been posted to or received from counterparties related to derivative assets or derivative liabilities.(2)Cash collateral posted to or received from counterparties has been offset against the derivative position with those counterparties to the extent an amount is available to be offset. Cash collateral posted to or received from counterparties in excess of the net derivative positions and not offset is recorded in the Consolidated Statements of Assets and Liabilities as Receivable from Broker or Payable to Broker, respectively.HedgingThe Company designated certain interest rate swaps as the hedging instrument in a qualifying fair value hedge accounting relationship.The table below presents the impact to the Consolidated Statements of Operations from derivative assets and liabilities designated in a qualifying hedge accounting relationship for the years ended December 31, 2024 and December 31, 2023.For derivative instruments designated in qualifying hedge relationships, the change in fair value of the hedging instrument and hedged item are recorded in Interest expense and recognized as components of Interest expense in the Consolidated Statements of Operations.For the Year Ended December 31,20242023Interest rate swaps$(2,045)$— Hedged items$2,896 $— The table below presents the carrying value of unsecured borrowings as of December 31, 2024 and December 31, 2023 that are designated in a qualifying hedging relationship and the related cumulative hedging adjustment (increase/(decrease)) from current and prior hedging relationships included in such carrying values:December 31, 2024December 31, 2023DescriptionCarrying ValueCumulative Hedging AdjustmentsCarrying ValueCumulative Hedging AdjustmentsUnsecured notes$1,082,389 $(2,896)$— $— 

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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)

Note 7. Borrowings

In accordance with the 1940 Act, with certain limitations, the Company is allowed to borrow amounts such that its asset coverage, as defined in the 1940 Act, is at least 150% after such borrowing. On September 25, 2018, the Company’s sole initial shareholder approved the adoption of this 150% threshold pursuant to Section 61(a)(