| Schedule of debt instruments |
The table below summarizes the Company's key terms and carrying value of debt as of the periods indicated:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2025 | | December 31, 2024 | | Outstanding Borrowings (in thousands) | | Contractual Weighted Avg Interest Rate | | Maturity Range | | Outstanding Borrowings (in thousands) | | | | From | | To | | | | | | | | | | | | | Secured Debt Financings | | | | | | | | | | | Asset-backed securitization ("ABS") term notes | $ | 1,869,435 | | | 3.95 | % | | February 2028 | | March 2035 | | $ | 3,032,700 | | | Asset-backed securitization warehouse | 260,000 | | | 5.90 | % | | January 2031 | | January 2031 | | 60,000 | | | | | | | | | | | | | Total secured debt financings | 2,129,435 | | | | | | | | | 3,092,700 | | | Unsecured Debt Financings | | | | | | | | | | | Senior notes | 1,800,000 | | | 2.82 | % | | April 2026 | | March 2032 | | 1,800,000 | | | Credit facility: | | | | | | | | | | | Revolving credit tranche | 1,145,000 | | | 5.75 | % | | July 2029 | | July 2029 | | 1,085,000 | | | Term loan tranche | 1,610,000 | | | 5.75 | % | | July 2029 | | July 2029 | | 1,680,000 | | | Total unsecured debt financings | 4,555,000 | | | | | | | | | 4,565,000 | | | Total debt financings | $ | 6,684,435 | | | | | | | | | $ | 7,657,700 | | | Unamortized debt costs | (38,976) | | | | | | | | | (48,743) | | | Unamortized debt premium & discounts | (2,428) | | | | | | | | | (3,237) | | | | | | | | | | | | | Debt, net of unamortized costs | $ | 6,643,031 | | | | | | | | | $ | 7,605,720 | |
The following table summarizes the Company's outstanding fixed-rate and floating-rate debt as of June 30, 2025:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Balance Outstanding (in thousands) | | Contractual Weighted Avg Interest Rate | | Maturity Range | | Weighted Avg Remaining Term | | | | From | | To | | | Excluding impact of derivative instruments: | | | | | | | | | | | Fixed-rate debt | $ | 3,669,435 | | | 3.40% | | Apr 2026 | | Mar 2035 | | 4.3 years | | Floating-rate debt | $ | 3,015,000 | | | 5.76% | | Jul 2029 | | Jan 2031 | | 3.8 years | | | | | | | | | | | | Including impact of derivative instruments: | | | | | | | | | | | Fixed-rate debt | $ | 3,669,435 | | | 3.40% | | | | | | | | Hedged floating rate debt | 1,652,500 | | | 3.74% | | | | | | | | Total fixed and hedged floating-rate debt | 5,321,935 | | | 3.50% | | | | | | | | Unhedged floating rate debt | 1,362,500 | | | 5.76% | | | | | | | | Total debt financings | $ | 6,684,435 | | | 3.97% | | | | | | |
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