debt
confidence high
sentiment neutral
materiality 0.15
BXSL amends credit agreement to replace LIBOR with term SOFR as reference rate
Blackstone Secured Lending Fund
- First Amendment to Revolving Credit Agreement effective Sept 16, 2022 replaces LIBOR with term SOFR.
- Dollar advances now bear interest at 3-month term SOFR plus 2.525% per annum.
- No breakage costs incurred for the LIBOR-to-SOFR transition during the calculation period.
- All other terms of the credit agreement remain unchanged; facility size unaffected.