Doug Carter

Doug Carter asked about Blackstone Secured Lending Fund's (BXSL) thought process for evaluating and utilizing the new share repurchase authorization, specifically how it will be weighed against other capital allocation decisions.

Answer

Teddy Desloge, Senior Managing Director, stated that BXSL will be opportunistic with the $250 million approved repurchase plan. He noted that historically, a discount below 10% to NAV has been accretive for buybacks, and it will be a capital allocation decision among paying down debt, pursuing new deals, and share repurchases.

Doug Carter asked for the thought process behind evaluating the new share repurchase authorization, specifically how it will be used versus being held in reserve for potential further declines.

Answer

Teddy Desloge, Senior Managing Director and Chief Financial Officer, stated that they will be opportunistic with the $250 million approved repurchase plan. He noted that historically, a discount below 10% to NAV can be accretive for buybacks and mentioned previous repurchase plans in 2022 and 2023. It will be a capital allocation decision alongside debt repayment and new deals.