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

Company: Blackstone Secured Lending Fund
Filing Date: 2025-10-06
Form: 424B2
Chunk 10
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 which will mature on September 16, 2026 (the “New 2026 Notes”), our 2.125% notes due 2027, which will mature on February 15, 2027 (the “2027 Notes”), our 5.875% Notes due 2027, which will mature on November 15, 2027 (the “November 2027 Notes”), our 2.850% notes due 2028, which will mature on September 30, 2028 (the “2028 Notes”), our 5.350% notes due 2028, which will mature on April 13, 2028 (the “April 2028 Notes”) and our 5.300% Notes due 2030, which will mature on June 30, 2030 (the “June 2030 Notes” and, together with the 2026 Notes, the New 2026 Notes, the 2027 Notes, the November 2027 Notes, the 2028 Notes and the April 2028 Notes, the “Existing Unsecured Notes”), rank effectively subordinated, or junior, to any of our secured indebtedness (including unsecured indebtedness that we later secure) to the extent of the value of the assets securing such indebtedness, and rank structurally junior to all existing and future indebtedness (including trade payables) incurred by our subsidiaries, financing vehicles or similar facilities. |
|                               |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 As of June 30, 2025, our total consolidated indebtedness, at par, was approximately $7.1 billion, $2.7 billion of which was secured (of which $1.5 billion was indebtedness of our subsidiaries) and $4.4 billion of which was unsecured. See “Capitalization.” |

S-7

| Denominations                                               |     | We will issue the Notes in denominations of $2,000 and integral multiples of $1,000 in excess thereof.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| Optional Redemption                                         |     | Prior to         ,         (    month(s) prior to the maturity date of the Notes) (the “Par Call Date”), we may redeem the Notes at our option, in whole or in part, at any time and from time to time, at a redemption price equal to the greater of (1) (a) the sum of the present values of the remaining scheduled payments of principal and interest