Company: BXSL
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001736035-25-000018
Chunk: 194

Company: Blackstone Secured Lending Fund
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 194
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 Total$13,193,219 $13,092,518 100.0 %215.5 %

As of June 30, 2025 and December 31, 2024, four borrowers (across five loans) and four borrowers (five loans) in the portfolio were on non-accrual status, respectively.As of June 30, 2025 and December 31, 2024, on a fair value basis, 99.8% and 99.8%, respectively, of performing debt investments bore interest at a floating rate and 0.2% and 0.2%, respectively, of performing debt investments bore interest at a fixed rate.

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Table of ContentsBlackstone Secured Lending FundNotes to Condensed Consolidated Financial Statements(Unaudited)(in thousands, except share amounts, per share data, percentages and as otherwise noted)

Note 5. Fair Value Measurements

The following tables present the fair value hierarchy of financial instruments: June 30, 2025Level 1Level 2Level 3TotalFirst lien debt$— $214,844 $12,800,357 $13,015,201 Second lien debt— — 122,942 122,942 Unsecured debt— — 13,721 13,721 Equity1,430 — 99,506 100,936 Total$1,430 $214,844 $13,036,526 $13,252,800 

December 31, 2024Level 1Level 2Level 3TotalFirst lien debt$— $115,753 $12,714,636 $12,830,389 Second lien debt— — 119,184 119,184 Unsecured debt— — 33,521 33,521 Equity— — 109,424 109,424 Total$— $115,753 $12,976,765 $13,092,518 

Within Investments at fair value, substantially all Equity investments are illiquid and privately negotiated in nature and are subject to contractual sale constraints or other restrictions pursuant to their respective governing or similar agreements. 

The following tables present changes in the fair value of financial instruments for which Level 3 inputs were used to determine the fair value:Three Months Ended June 30, 2025First Lien DebtSecond