Blackstone Secured Lending Fund 8-K

What Happened
Blackstone Secured Lending Fund (the Fund) announced it entered into an Eleventh Supplemental Indenture and issued $650,000,000 aggregate principal amount of 5.900% notes due May 21, 2031. The transaction closed on May 21, 2026; interest is 5.900% per year, payable semi‑annually on May 21 and November 21 beginning November 21, 2026. The Notes were offered under an effective Form N-2ASR registration statement and priced following filings on May 14, 2026.

Key Details

• Principal amount: $650,000,000 of 5.900% Notes due May 21, 2031.
• Interest/payments: 5.900% per year, paid semi‑annually on May 21 and November 21, first payment Nov 21, 2026.
• Redemption and repurchase: Fund may redeem notes in whole or in part at specified prices; a “change of control repurchase event” generally requires offer to buy notes at 100% of principal plus accrued interest.
• Ranking and covenants: Notes are general unsecured obligations — senior to expressly subordinated debt, pari passu with other unsecured debt, effectively junior to secured debt and structurally junior to indebtedness of the Fund’s subsidiaries. Indenture includes covenants (e.g., compliance with certain asset coverage rules and ongoing financial reporting to noteholders).

Why It Matters
This filing shows the Fund raised $650M of long‑term financing at a fixed 5.900% coupon, which affects the Fund’s capital structure and interest expense profile. The ranking and covenants describe holders’ payment priority and limited protections; investors should note the notes are unsecured and subordinated to secured obligations and subsidiary liabilities, and that change‑of‑control language can trigger full repurchase rights. The Eleventh Supplemental Indenture and related documents are filed as exhibits for full legal terms.