Business Context and Reporting Period
This Form 8-K Current Report was filed by Blackstone Secured Lending Fund (BXSL) on May 21, 2026. The filing reports the execution of an Eleventh Supplemental Indenture related to a new debt issuance.
Key Financial Metrics
The filing details a specific debt transaction rather than periodic financial performance metrics such as revenue or operating cash flow.
- Debt Issuance: $650,000,000 aggregate principal amount of 5.900% Notes due 2031.
- Interest Rate: 5.900% per annum, payable semi-annually.
- First Interest Payment: November 21, 2026.
- Maturity Date: May 21, 2031.
- Security Status: General unsecured obligations ranking pari passu with existing unsecured indebtedness and effectively junior to secured indebtedness.
Material Changes
The primary material change is the expansion of the Fund's capital structure through the issuance of the 2031 Notes. The Fund entered into an Eleventh Supplemental Indenture with U.S. Bank Trust Company, National Association, to govern these notes. The transaction closed on May 21, 2026, following the filing of a Registration Statement on Form N-2ASR on July 11, 2025.
Outlook, Risks, and Covenants
The Indenture includes specific covenants and provisions relevant to investors:
- Asset Coverage: The Fund must comply with asset coverage requirements under Section 18(a)(1)(A) of the Investment Company Act of 1940, as modified by Section 61(a).
- Change of Control: In the event of a "change of control repurchase event," the Fund is generally required to offer to purchase the Notes at 100% of the principal amount plus accrued and unpaid interest.
- Reporting Obligations: The Fund must provide financial information to Note holders and the Trustee if it ceases to be subject to reporting requirements under the Securities Exchange Act of 1934.
- Redemption: The Notes may be redeemed in whole or in part at the Fund's option at redemption prices set forth in the Indenture.
The filing does not provide specific forward-looking guidance on revenue, profit, or general market outlook beyond the terms of this debt instrument.
Investor Verification Checklist
- Verify the full text of the Eleventh Supplemental Indenture (Exhibit 4.2) for detailed redemption schedules and specific covenant limitations.
- Confirm the Fund's current asset coverage ratio to ensure compliance with the Investment Company Act requirements mentioned in the filing.
- Review the Underwriting Agreement (Exhibit 1.1) for details on the underwriters and any specific conditions of the sale.
- Monitor future filings for the first interest payment confirmation on November 21, 2026.