Company: BXSL
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001736035-25-000018
Chunk: 4

Company: Blackstone Secured Lending Fund
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 4
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 — 190,135 Reinvestment of dividends (1)— 5,293 — 5,293 Net investment income— — 173,098 173,098 Net realized gain (loss)— — 2,003 2,003 Net change in unrealized appreciation (depreciation)— — 21,085 21,085 Dividends declared and payable from net investment income— — (152,706)(152,706)Balance, June 30, 2024$198 $5,064,855 $329,520 $5,394,573 

Par AmountAdditional Paid in CapitalDistributable Earnings (Loss)Total Net AssetsBalance, December 31, 2023$186 $4,701,827 $250,028 $4,952,041 Issuance of Common Shares, net of offering and underwriting costs12 352,121 — 352,133 Reinvestment of dividends (1)— 10,907 — 10,907 Net investment income— — 338,946 338,946 Net realized gain (loss)— — 8,145 8,145 Net change in unrealized appreciation (depreciation)— — 32,850 32,850 Dividends declared and payable from net investment income— — (300,449)(300,449)Balance, June 30, 2024$198 $5,064,855 $329,520 $5,394,573 

(1)The par amount of the shares is less than 1,000 and rounds to zero.

The accompanying notes are an integral part of these condensed consolidated financial statements.

6

Table of ContentsBlackstone Secured Lending FundCondensed Consolidated Statements of Cash Flows(in thousands)(Unaudited)

Six Months Ended June 30, 20252024Cash flows from operating activities:Net increase (decrease) in net assets resulting from operations$304,851 $379,941 Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:Net change in unrealized (appreciation) depreciation on investments49,073 (32,747)Net change in unrealized (appreciation) depreciation on derivative instruments5,047 — Net change in unrealized