Company: BXSL
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001736035-25-000013
Chunk: 317

Company: Blackstone Secured Lending Fund
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 8
Chunk 317
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 to make advances under revolving loans or delayed draw term loans where Big Sky Funding is a lender. The period during which Big Sky Funding may make borrowings under the Big Sky Funding Facility expires on March 30, 2027 and the Big Sky Funding Facility is scheduled to mature on September 30, 2027.

BXSL 2025-1 FacilityOn December 27, 2024, BXSL CLO 2025-1, the Company’s wholly-owned subsidiary created to hold primarily private credit loan investments, entered into a senior secured credit facility (as amended from time to time, the “BXSL 2025-1 Facility”) with BNP. BNP serves as administrative agent, Wilmington Trust, National Association (“Wilmington Trust”) serves as collateral custodian and the Company serves as collateral manager under the BXSL 2025-1 Facility.Advances under the BXSL 2025-1 Facility bear interest at a per annum rate equal to the three-month Term SOFR (or other base rate) in effect, plus an applicable margin of 1.65% per annum for all advances. From and after December 27, 2026, the applicable margin for advances under the BXSL 2025-1 Facility will increase to 2.15% per annum.Proceeds from borrowings under the BXSL 2025-1 Facility may be used to fund portfolio investments by BXSL 2025-1 Facility and to make advances under corporate loans where BXSL CLO 2025-1 is a lender. The period during which BXSL 2025-1 Facility may make borrowings under the BXSL 2025-1 Facility expires on December 27, 2026, and the BXSL 2025-1 Facility is scheduled to mature on December 27, 2028. 

Revolving Credit Facility On June 15, 2020, the Company entered into a senior secured revolving credit facility (which was most recently amended on August 6, 2024, and as further amended from time to time, the “Revolving Credit Facility”) with Citibank, N.A. (“Citi”) serving as administrative agent and collateral agent.The Revolving Credit Facility provides for borrowings in USD and certain agreed-upon foreign currencies. Borrowings under the Revolving Credit Facility are subject to compliance with a borrowing base. As of March 31, 2025, a portion of the Revolving Credit Facility consists of (A) funded