Blackstone Secured Lending Fund Announces Increase in Quarterly Distribution
June 20 2023 - 4:17PM
Business Wire
Blackstone Secured Lending Fund (NYSE: BXSL) to increase
quarterly distribution to $0.77 per share.
As a result of continued strong earnings, low fee structure, and
the quality of its investment portfolio, BXSL will increase its
regular quarterly distribution to $0.77 per share for the third
quarter of 2023, a 10% increase when compared to its distribution
of $0.70 per share for the second quarter of 2023. BXSL’s Board of
Trustees approved the increase in distribution, which will become
effective in the third quarter of 2023 and apply to shareholders of
record as of September 30, 2023, payable on October 26, 2023.
Brad Marshall and Jonathan Bock, Co-Chief Executive Officers of
Blackstone Secured Lending Fund, said, “BXSL continues on its path
of generating strong risk-adjusted returns. Our newly announced
$0.77 per share distribution represents an annualized yield of
11.8% on first quarter net asset value per share of $26.10
(assuming the increased per share distribution was in effect over
the course of the year), and is currently the highest yield for any
listed BDC with as much of its portfolio invested in first lien,
senior secured loans. As of March 31, 2023, BXSL’s portfolio was
97.9% first lien, senior secured debt.”
Brad and Jon continued, “This increase represents the fourth
time since inception that BXSL has raised its regular dividend,
which we believe is in part due to BXSL’s material growth in
investment income and ability to maintain earnings in excess of
distributions.”
Blackstone Secured Lending Fund previously issued a full
detailed presentation of its first quarter 2023 results and full
year 2022 results, which can be viewed at www.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 March 31, 2023, BXSL’s fair value of investments
was approximately $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 $991 billion of assets under management as of March 31,
2023.
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20230620055296/en/
Investors Stacy Wang, Head of Stakeholder Relations
Blackstoneshareholderrelations@blackstone.com +1 888-756-8443
Media Mariel Seidman-Gati
Mariel.seidmangati@blackstone.com +1 917-698-1674
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