v3.22.2.2
Senior Secured Term Loan, Net (Tables)
 9 Months Ended
Sep. 30, 2022
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Instruments
The table below provides principal balances and the carrying value for commercial mortgage loans pledged to the Barclays Private Securitization as of September 30, 2022 and December 31, 2021 ($ in thousands):
September 30, 2022
Local CurrencyCountOutstanding PrincipalCarrying Value
GBP7$1,398,521 $1,381,632 
EUR5690,087685,090
SEK1233,280 230,964 
Total 13$2,321,888 $2,297,686 
December 31, 2021
Local CurrencyCountOutstanding PrincipalCarrying Value
GBP7$1,767,063 $1,748,367 
EUR2533,164528,344
SEK1286,822 282,555 
Total 10$2,587,049 $2,559,266 


The table below provides the borrowings outstanding (on an as converted basis) and weighted-average fully-extended maturities by currency for the assets financed under the Barclays Private Securitization as of September 30, 2022 ($ in thousands):
Borrowings outstanding(1)
Fully-Extended Maturity(2)
Total/Weighted-Average GBP$1,046,524 
April 2026
Total/Weighted-Average EUR482,021
July 2025(3)
Total/Weighted-Average SEK186,624May 2026
Total/Weighted-Average Securitization$1,715,169 January 2026
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(1)As of September 30, 2022, we had £936.9 million, €491.8 million, and kr2.1 billion of borrowings outstanding under the Barclays Private Securitization secured by certain of our commercial mortgage loans.
(2)Assumes underlying loans extend to fully extended maturity and extensions at our option are exercised.
(3)The EUR portion of the Barclays Private Securitization has an "evergreen" feature such that the facility continues for one year and can be terminated by either party on certain dates with, depending on the date of notice, a minimum of nine to twelve months' notice.

The table below provides the borrowings outstanding (on an as converted basis) and weighted-average fully-extended maturities by currency for the assets financed under the Barclays Private Securitization as of December 31, 2021 ($ in thousands):
Borrowings outstanding
Fully-Extended Maturity(1)
Total/Weighted-Average GBP$1,299,321 June 2025
Total/Weighted-Average EUR373,904
November 2022(2)
Total/Weighted-Average SEK229,458November 2022
Total/Weighted-Average Securitization$1,902,683 August 2024
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(1)Assumes underlying loans extend to fully extended maturity and extensions at our option are exercised.
(2)The EUR portion of the Barclays Private Securitization has an "evergreen" feature such that the facility continues for one year and can be terminated by either party on certain dates with, depending on the date of notice, a minimum of nine to twelve months' notice.
The following table summarizes the terms of our Term Loans as of September 30, 2022 ($ in thousands):
Principal Amount
Unamortized Issuance Discount(1)
Deferred Financing Costs(1)
Carrying ValueSpreadMaturity Date
2026 Term Loan$483,750 $(1,280)$(6,635)$475,835 2.75 %5/15/2026
2028 Term Loan295,500 (2,321)(4,115)289,064 3.50 %3/11/2028
Total$779,250 $(3,601)$(10,750)$764,899 
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(1)     Unamortized issuance discount and deferred financing costs will be amortized to interest expense over remaining life of respective term loans.
The following table summarizes the terms of our Term Loans as of December 31, 2021 ($ in thousands):
Principal Amount
Unamortized Issuance Discount(1)
Deferred Financing Costs(1)
Carrying ValueSpreadMaturity Date
2026 Term Loan$487,500 $(1,548)$(7,933)$478,019 2.75 %5/15/2026
2028 Term Loan297,750 (2,643)(4,801)290,306 3.50 %3/11/2028
Total$785,250 $(4,191)$(12,734)$768,325 
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(1)     Unamortized issuance discount and deferred financing costs will be amortized to interest expense over remaining life of respective term loans.