Company: BXSL
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001736035-25-000018
Chunk: 179

Company: Blackstone Secured Lending Fund
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 179
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 investment is placed on non-accrual status, the accrued, uncapitalized interest is generally reversed through Payment-in-kind interest income. To satisfy the Company’s annual RIC distribution requirements, this non-cash source of income must be included in determining the amounts to be paid out to shareholders in the form of dividends, even though the Company has not yet collected cash.Dividend IncomeDividend income on preferred equity securities is recorded on an accrual basis to the extent that such amounts are payable by the portfolio company and are expected to be collected. Dividend income on common equity securities is recorded on the record date for private portfolio companies or on the ex-dividend date for publicly-traded portfolio companies.Fee IncomeThe Company may receive various fees in the ordinary course of business such as structuring, consent, waiver, amendment, syndication and other miscellaneous fees, as well as fees for managerial assistance rendered by the Company to the portfolio companies. Such fees are recognized as income when earned or the services are rendered. Non-Accrual IncomeLoans are generally placed on non-accrual status when there is reasonable doubt whether principal or interest will be collected in full. Accrued interest is generally reversed when a loan is placed on non-accrual status. Additionally, any original issue discount and market discount are no longer accreted to interest income as of the date the loan is placed on non-accrual status. Interest payments received on non-accrual loans may be recognized as income or applied to principal depending upon management’s judgment regarding collectability. Non-accrual loans are restored to accrual status when past due principal and interest is paid current and, in management’s judgment, are likely to remain current. Management may make exceptions to this treatment and determine to not place a loan on non-accrual status if the loan has sufficient collateral value and is in the process of collection.For further information regarding the non-accrual status of investments, refer to “Note 4. Investments.”Offering ExpensesThe Company records expenses related to public equity offerings as a reduction of capital upon completion of an offering of registered securities. The costs associated with any renewals of a shelf registration statement will be expensed as incurred. Deferred Financing Costs and Debt Issuance CostsDeferred financing and debt issuance costs represent fees and other direct incremental costs incurred in connection with the Company’s borrowings and include premiums and discounts to the par value of the respective instruments. These expenses and adjustments