Blackstone Secured Lending Fund Prices Initial Public Offering

NEW YORK--(BUSINESS WIRE)--Blackstone Secured Lending Fund (“BXSL”), a business development company externally managed by Blackstone Credit BDC Advisors LLC, today announced that it priced its initial public offering of 9,180,000 of its common shares at $26.15 per share. BXSL’s common shares are expected to begin trading on the New York Stock Exchange on October 28, 2021 under the symbol “BXSL.” BXSL also granted underwriters an option to purchase up to an additional 1,377,000 common shares. The closing of the offering is subject to market and other customary closing conditions. The shares are expected to be delivered on or about November 1, 2021.

BXSL intends to use the net proceeds of this offering to pay down some or all of its existing indebtedness, to make investments in accordance with its investment objectives and strategies, and for other general corporate purposes.

BofA Securities, Citigroup, Goldman Sachs & Co. LLC, Morgan Stanley, and Wells Fargo Securities are acting as lead joint book-running managers for the offering. Barclays Capital Inc., J.P. Morgan Securities LLC, RBC Capital Markets, LLC, Keefe, Bruyette & Woods, Inc., Raymond James & Associates, Inc., and UBS Securities LLC are also acting as joint book-running managers for the offering. Blackstone Securities Partners, L.P., BNP Paribas Securities Corp., Deutsche Bank Securities Inc., Compass Point Research & Trading, LLC, Janney Montgomery Scott LLC, MUFG Securities Americas Inc., SMBC Nikko Securities America, Inc., SG Americas Securities, LLC, Academy Securities, Inc., Blaylock Van, LLC, R. Seelaus & Co., LLC, and Samuel A. Ramirez & Company, Inc. are acting as co-managers for the offering.

A registration statement relating to these securities was filed with the U.S. Securities and Exchange Commission (“SEC”) and was declared effective on October 27, 2021.

Investors are advised to carefully consider the investment objectives, risks and charges and expenses of BXSL before investing. The preliminary prospectus, dated October 18, 2021, contains this and other information about BXSL and should be read carefully before investing. The information in the registration statement is not complete and may be changed.

This press release will not constitute an offer to sell or the solicitation of an offer to buy the securities described above nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to their registration or qualification under the securities laws of any such state or jurisdiction. Offers of these securities are made only by means of the prospectus. The SEC has not approved or disapproved these securities or passed upon the adequacy of the preliminary prospectus. Any representation to the contrary is a criminal offense.

The offering of these securities is being made only by means of a prospectus forming part of the registration statement, copies of which may be obtained, when available, from: BofA Securities, NC1-004-03-43 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, Attn: Prospectus Department, or by email at [e-mail]; Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone toll-free at [phone]; Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282, by telephone at [phone], facsimile: [phone] or by email at [e-mail]; Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, Second Floor, New York, NY 10014; and Wells Fargo Securities, LLC, Attn: Equity Syndicate Department, 500 West 33rd Street, New York, NY 10001, by telephone at [phone] or by email at [e-mail].

About Blackstone Secured Lending Fund

Blackstone Secured Lending Fund (BXSL) is a specialty finance company that invests primarily in the debt of private U.S. companies. As of June 30, 2021 BXSL had investments in 111 portfolio companies with an aggregate fair value of approximately $7.4 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 Credit BDC Advisors LLC, an SEC-registered investment company that is an affiliate of Blackstone Inc. (formerly, The Blackstone Group Inc.). Blackstone Inc., together with its subsidiaries, is one of the world’s leading investment firms with approximately $684 billion of assets under management as of June 30, 2021.

Forward Looking Statements

Statements included herein may constitute “forward-looking statements,” which relate to future events or BXSL’s future performance or financial condition. These statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties, including the impact of the COVID-19 pandemic and related changes in base interest rates and significant market volatility on BXSL’s business, BXSL’s portfolio companies, BXSL’s industry and the global economy. Actual results and conditions may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in BXSL’s filings with the Securities and Exchange Commission. BXSL undertakes no duty to update any forward-looking statements made herein.