Company: BXSL
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001736035-25-000008
Chunk: 741

Company: Blackstone Secured Lending Fund
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 741
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2 debt investments as of December 31, 2024, which could provide additional liquidity if necessary.Although we have historically been able to obtain sufficient borrowing capacity, a deterioration in economic conditions or any other negative economic developments could restrict our access to financing in the future. We may not be able to find new financing for future investments or liquidity needs and, even if we are able to obtain such financing, such financing may not be on as favorable terms as we have previously obtained. These factors may limit our ability to make new investments and adversely impact our results of operations. As of December 31, 2024, we had $229.6 million in cash and cash equivalents. During the year ended December 31, 2024, cash used in operating activities was $2.5 billion, primarily due to purchases of investments of $3.9 billion partially offset by sales of investments and principal repayments of $787.5 million and receipt of interest payments from our investments. Cash provided by financing activities was $2.6 billion during the year, which was primarily as a result of net borrowing on our credit facilities and Unsecured Notes (as defined in “Item 8. Financial Statements and Supplementary Data—Notes to Consolidated Financial Statements—Note 7. Borrowings”) of $2.2 billion and $1.0 billion of proceeds from the issuance of our Common Shares partially offset by dividends paid in cash of $583.4 million.

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Equity 

We also access liquidity through our “at-the-market” offering program (the “ATM Program”), pursuant to which we may sell, from time to time, additional Common Shares. During the year ended December 31, 2024, we sold Common Shares for net proceeds of $1.0 billion through our ATM Program. As of December 31, 2024, $112.0 million of Common Shares were available for issuance under the ATM Program.

For additional information on our ATM Program, see “Item 8. Financial Statements and Supplementary Data—Notes to Consolidated Financial Statements—Note 9. Net Assets.”

Distributions

The following table summarizes our distributions declared and payable for the year ended December 31, 2024 (dollar amounts in thousands except per share amounts):Date DeclaredRecord DatePayment DatePer Share AmountTotal AmountFebruary 28, 2024March 31, 2024April 26, 2024$0.7700 $147,743 May 8, 2024