Company: BXSL
Filing Date: 2025-10-06
Form Type: 424B2
Source: 0001213900-25-096307
Chunk: 30

Company: Blackstone Secured Lending Fund
Filing Date: 2025-10-06
Form: 424B2
Chunk 30
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 “Change of Control Repurchase Event” means the occurrence of a Change of Control and a Below Investment Grade Rating Event. “Controlled Subsidiary” means any subsidiary of Blackstone Secured Lending Fund, 50% or more of the outstanding equity interests of which are owned by Blackstone Secured Lending Fund and its direct or indirect subsidiaries and of which Blackstone Secured Lending Fund possesses, directly or indirectly, the power to direct or cause the direction of the management or policies, whether through the ownership of voting equity interests, by agreement or otherwise. “Fitch” means Fitch Ratings, Inc., or any successor thereto. “Investment Grade” means a rating of BBB- or better by Fitch (or its equivalent under any successor rating categories of Fitch), Baa3 or better by Moody’s (or its equivalent under any successor rating categories of Moody’s) and BBB- or better by S&P (or its equivalent under any successor rating categories of S&P) (or, in each case, if such Rating Agency ceases to rate the Notes for reasons outside of our control, the equivalent investment grade credit rating from any Rating Agency selected by us as a replacement Rating Agency). “Moody’s” means Moody’s Investors Service or any successor thereto. “Permitted Holders” means (i) us, (ii) one or more of our Controlled Subsidiaries and (iii) the Advisers, any affiliate of the Advisers or any entity that is managed by the Advisers that is organized under the laws of a jurisdiction located in the United States and in the business of managing or advising clients. “Rating Agency” means: (1)each of Fitch, Moody’s and S&P; and (2)if any of Fitch, Moody’s or S&P ceases to rate the Notes or fails to make a rating of the Notes publicly available for reasons outside of our control, a “nationally recognized statistical rating organization” as defined in Section 3(a)(62) of the Exchange Act selected by us as a replacement agency for Fitch, Moody’s or S&P, as the case may be. “S&P” means S&P’s Global Ratings Services, or any successor thereto. “Voting Stock” as applied to stock of any person, means shares, interests, participations or other equivalents in the equity interest (however designated) in such person having ordinary voting power for the election of a majority of the directors (or the equivalent) of