Blackstone Secured Lending Fund Amends Credit Agreement, Extends Revolver

What Happened

• On August 10, 2026, Blackstone Secured Lending Fund (the Company) entered into a Fifth Amendment to its Second Amended and Restated Senior Secured Credit Agreement with Citibank, N.A., as administrative and collateral agent, and the lenders party thereto. The amendment extends the time the Company may borrow under certain revolving commitments and pushes related maturity dates, adjusts total commitments, resets the minimum shareholders’ equity covenant, and provides for payment of agreed fees. The amendment is filed as Exhibit 10.1 to the Company’s Form 8-K.

Key Details

• Revolver availability extended: borrowing period for certain revolving commitments extended from August 4, 2029 to August 10, 2030.
• Revolver maturity extended: maturity date for the revolving commitments extended from August 4, 2030 to August 10, 2031 (except $200.0 million of certain lenders’ revolving commitments, which mature June 28, 2027).
• Commitment amounts changed: aggregate commitments reduced from $2.425 billion to $2.375 billion — resulting in a $1.9 billion aggregate revolver (net of a $200.0 million expiration and a $45.0 million increase) and funded term loan commitments increased by $5.0 million to $438.5 million.
• Other changes: minimum shareholders’ equity was reset and the Company will pay certain fees as agreed with the administrative agent and lenders.

Why It Matters

• This amendment affects the Company’s liquidity profile and debt timeline by extending when and how long it can access revolving credit, while slightly reducing total available commitments. Investors should note the earlier maturity for $200 million of lender commitments in 2027 and the overall net $50 million decrease in aggregate commitments.
• The reset of the minimum shareholders’ equity covenant and the fee payments reflect negotiated changes to the Company’s lending terms; these are material to covenant compliance and future borrowing flexibility. The full amendment is attached as Exhibit 10.1 for investors who want the precise legal terms.