Blackstone Secured Lending Fund Reports Fourth Quarter and Full Year 2022 Results
NEW YORK — February 27, 2023 — Blackstone Secured Lending Fund (NYSE: BXSL, or the “Company”) today reported its fourth quarter and full year 2022 results.
Brad Marshall, Co-Chief Executive Officer of Blackstone Secured Lending Fund, said, “BXSL reported record quarterly results including strong credit performance, growth in net asset value, and rising investment income. In response to its outstanding performance, the Company announced a 17% increase to its quarterly dividend to $0.70 per share, which represents an annualized yield of 10.8% on fourth quarter net asset value. This is the third time in the last year and a half that BXSL has raised its regular dividend, due to material growth in investment income and solid credit performance from its portfolio of predominantly first lien senior secured loans.”
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 2022 results, which can be viewed at www.bxsl.com.
The Company’s Board of Trustees has declared a first quarter 2023 dividend of $0.70 per share to shareholders of record as of March 31, 2023, payable on or around April 27, 2023.
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=1595470&tp_key=3dbe885469
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 US companies. As of December 31, 2022, BXSL’s fair value of investments was $9.6 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 adviser that is an affiliate of Blackstone Inc. Blackstone Inc., together with its subsidiaries, is the world’s largest alternative investment firm with $975 billion of assets under management as of December 31, 2022.
Forward-Looking Statements and Other Matters
Certain information contained in this communication constitutes “forward-looking statements” within the meaning of the federal securities laws and the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by the use of forward-looking terminology, such as “outlook,” “indicator,” “believes,” “expects,” “potential,” “continues,” “may,” “can,” “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 inherently uncertain and there are or may 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.