Company: BXSL
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001736035-25-000018
Chunk: 198

Company: Blackstone Secured Lending Fund
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 198
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.04 %9.79 %148,457 Asset RecoverabilityMarket Multiple8.12x11.50x8.71x115 Market QuotationsBroker Quoted Price97.2597.2597.2512,800,357 Investments in second lien debt122,942 Yield AnalysisDiscount Rate8.51 %16.62 %11.04 %Investments in unsecured debt13,721 Yield AnalysisDiscount Rate13.06 %14.51 %14.31 %Investments in equity59,947 Market ApproachPerformance Multiple6.40x28.50x12.70x22,592 Yield AnalysisDiscount Rate11.42 %20.96 %13.05 %14,123 Option Pricing Model Expected Volatility32.00 %70.50 %37.53 %2,844 Asset RecoverabilityMarket Multiple11.50x11.50x11.50x99,506 Total$13,036,526 

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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)

December 31, 2024RangeFair ValueValuation TechniqueUnobservable InputLowHighWeighted Average (1)Investments in first lien debt$12,546,382 Yield AnalysisDiscount Rate7.00 %22.67 %10.15 %102,316 Market QuotationsBroker Quoted Price97.00100.57100.0863,879 Asset RecoverabilityMarket Multiple10.00x10.75x10.40x2,059 Asset RecoverabilityDiscount Rate10.33 %10.92 %10.36 %12,714,636 Investments in second lien debt119,184 Yield AnalysisDiscount Rate8.86 %16.73 %11.52 %Investments in unsecured debt33,521 Yield AnalysisDiscount Rate7.71%13.94%10.12%Investments in equity69,633 Market ApproachPerformance Multiple2.30x30.00x10.11x21,697 Yield AnalysisDiscount Rate9.54 %19.47 %15.55 %14,499 Option Pricing ModelExpected Volatility23.50 %