Company: BXSL
Filing Date: 2025-07-11
Form Type: 424B2
Source: 0001213900-25-063323
Chunk: 16

Company: Blackstone Secured Lending Fund
Filing Date: 2025-07-11
Form: 424B2
Chunk 16
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 things, the market price of our common shares and the NAV per share of our common shares at the time of any such sale. As a result, the actual net proceeds we receive may be more or less than the amount of net proceeds estimated in this prospectus supplement. However, the sales price per share of our common shares offered by this prospectus supplement and the accompanying prospectus, less the sales agents’ commission, discount or other compensation for such sales payable under the equity distribution agreements, will not be less than the NAV per share of our common shares at the time of such sale, unless we have received approval of a majority of our shareholders (including a majority of our unaffiliated shareholders) and our Independent Trustees. Assuming the sale of common shares having an aggregate offering price of $600.0 million pursuant to this prospectus supplement and the accompanying prospectus, we estimate that the net proceeds would be approximately $593.3 million after deducting the sales agents’ estimated commissions of approximately $6.0 million payable by us and estimated offering expenses of approximately $0.7 million payable by us. We intend to use the net proceeds from this offering for general corporate purposes, which may include, among other things, investing in accordance with our investment objectives and strategies described in this prospectus supplement and the accompanying prospectus and repaying indebtedness (which will be subject to reborrowing). We may use a portion of net proceeds of any sale of our common shares pursuant to this offering to repay existing borrowings outstanding. For the three months ended March 31, 2025, the weighted average interest rate (including unused fees, accretion of net discounts on unsecured debt and the impact of the application of hedge accounting) on all borrowings was 5.01%, and the weighted average all -incost 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 5.09%. The weighted average time to maturity as of March 31, 2025 was 3.5 years. For further information about our borrowings, see Note 7 in our notes to the unaudited condensed consolidated financial statements in our Quarterly Report on Form 10 -Qfor the period ended March 31, 2025, which is incorporated by reference in this prospectus supplement. Affiliates of certain sales agents are lenders under certain of our indebtedness, including our Revolving Credit Facility and/or our SP