Blackstone Secured Lending (BXSL) Reports Q3 2026 Net Investment Income of $0.68 Per Share
Blackstone Secured Lending (BXSL) reported third-quarter net investment income of $0.68 per share, a decrease from the previous quarter's $0.75, primarily driven by a lower incentive fee lookback benefit. The company's Net Asset Value (NAV) stood at $25.25 per share, down 1.1% from the end of June 2026. To align yields with peer business development companies, management announced a future dividend reset to $0.60 per share starting in Q1 2027. Despite the decline in NII, the portfolio shows resilience with an average EBITDA growth of 10% among borrowers and an interest coverage ratio of 2.1 times. The nonaccrual rate at cost improved to 2.8% from 3.6% following the exit of three names from nonaccrual status. BXSL maintains a strong liquidity position with $2.6 billion in total liquidity and is currently managing a refinancing process for $3.2 billion in fixed-rate notes.
Tickers: $BXSL
Topics: Dividend Reset EBITDA Growth Net Asset Value Net Investment Income Nonaccrual Rate