Company: BXSL
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001736035-25-000008
Chunk: 185

Company: Blackstone Secured Lending Fund
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 185
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 (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 Gain (loss) from interest rate swaps accounted for as hedges and the related hedged items:Interest rate swaps2,045 — — Hedged items(2,896)— — Total Interest Expense$326,133 $266,420 $203,579 Cash paid for interest expense$297,469 $256,478 $182,152 

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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 8. Commitments and Contingencies

Portfolio Company CommitmentsThe Company’s investment portfolio contains debt investments which are in the form of lines of credit or delayed draw commitments, which require us to provide funding when requested by portfolio companies in accordance with underlying loan agreements. As of December 31, 2024 and December 31, 2023, the Company had unfunded commitments, including delayed draw term loans and revolvers, with an aggregate amount of $1.7 billion and $985.9 million, respectively.Additionally, from time to time