Blackstone Secured Lending Fund Reports Fourth Quarter and Full-Year 2025 Results

NEW YORK–(BUSINESS WIRE)–Blackstone Secured Lending Fund (NYSE: BXSL or the “Company”) today reported its fourth quarter and full-year 2025 results.

Brad Marshall, Co-Chief Executive Officer of Blackstone Secured Lending Fund, said, “BXSL reported strong fourth-quarter results, with net investment income of $0.80 per share – which fully covered our dividend – and new investment activity exceeding $1 billion for the second consecutive quarter. Our portfolio, primarily composed of first-lien senior secured debt, remains well positioned, underpinned by weighted average LTM EBITDA growth of 8% across our borrowers, stable interest coverage ratios of 2.0x and a low non-accrual rate. Looking forward, we remain highly disciplined in our approach, leveraging the advantages of Blackstone’s scale and expertise to drive value for our shareholders.”

In keeping with its focus on shareholder alignment, the BXSL board of trustees has approved a discretionary share repurchase plan, under which BXSL may repurchase up to $250 million in the aggregate of its outstanding common shares in the open market at below its net asset value per share.

Blackstone Secured Lending Fund issued a full detailed presentation of its fourth quarter and full-year 2025 results, which can be viewed at www.bxsl.com.

Dividend Declaration

The Company’s Board of Trustees has declared a first quarter 2026 dividend of $0.77 per share to shareholders of record as of March 31, 2026, payable on or about April 24, 2026.

Quarterly Investor Call Details

Blackstone Secured Lending Fund will host its conference call today at 9:30 a.m. ET to discuss results. To register for the webcast, please use the following link: https://event.webcasts.com/starthere.jsp?ei=1748261&tp_key=5d0010fc74

For those unable to listen to the live broadcast, there will be a webcast replay on the Shareholders section of BXSL’s website at https://ir.bxsl.com.

About Blackstone Secured Lending Fund

Blackstone Secured Lending Fund (NYSE: BXSL) is a specialty finance company that invests primarily in the debt of private U.S. companies. As of December 31, 2025, BXSL’s fair value of investments was approximately $14.2 billion. BXSL has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. BXSL is externally managed by Blackstone Private Credit Strategies LLC, an SEC-registered investment adviser that is an affiliate of Blackstone Inc. Blackstone Inc., together with its subsidiaries, is the world’s largest alternative investment firm with $1.3 trillion of assets under management as of December 31, 2025.

Forward-Looking Statements and Other Matters

Certain information contained in this communication constitutes “forward-looking statements.” These forward-looking statements can be identified by the use of forward-looking terminology, such as “outlook,” “indicator,” “believes,” “expects,” “potential,” “continues,” “may,” “can,” “could,” “will,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates”, “confident,” “conviction,” “identified” or the negative versions of these words or other comparable words thereof. These may include BXSL’s financial estimates and their underlying assumptions, statements about plans, statements regarding pending transactions, objectives and expectations with respect to future operations, statements regarding future performance, statements regarding economic and market trends and statements regarding identified but not yet closed investments. Such forward‐looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in such statements. BXSL believes these factors include but are not limited to those described under the section entitled “Risk Factors” in its prospectus and annual report for the most recent fiscal year, and any such updated factors included in its periodic filings with the Securities and Exchange Commission (the “SEC”), which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this document (or BXSL’s prospectus and other filings). Except as otherwise required by federal securities laws, BXSL undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.

Contacts

Investors
Stacy Wang, Head of Stakeholder Relations
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Fund and Portfolio Inquiries
Justin Farshidi
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Media
Thomas Clements
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