v3.25.2
N-2 - USD ($)
 3 Months Ended 6 Months Ended
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Jun. 30, 2025
May 05, 2025
Cover [Abstract]                          
Entity Central Index Key                       0001580345  
Amendment Flag                       false  
Securities Act File Number                       814-01044  
Document Type                       10-Q  
Entity Registrant Name                       TriplePoint Venture Growth BDC Corp.  
Entity Address, Address Line One                       2755 Sand Hill Road  
Entity Address, Address Line Two                       Suite 150  
Entity Address, City or Town                       Menlo Park  
Entity Address, State or Province                       CA  
Entity Address, Postal Zip Code                       94025  
City Area Code                       650  
Local Phone Number                       854-2090  
Entity Emerging Growth Company                       false  
Fee Table [Abstract]                          
Shareholder Transaction Expenses [Table Text Block]                      
Stockholder Transaction Expenses:
Sales load or other commission payable by us (as a percentage of offering price)— %
(1)
Offering expenses (as a percentage of offering price)— %
(2)
Dividend reinvestment plan expenses— %
(3)
Total Stockholder Transaction Expenses (as a percentage of offering price)— %
Annual Expenses (as a percentage of net assets attributable to common stock):
Base management fee payable under the Advisory Agreement3.81 %
(4)
Incentive fee payable under the Advisory Agreement (20% of net investment income and realized capital gains)2.55 %
(5)
Interest payments on borrowed funds7.58 %
(6)
Other expenses2.32 %
(7)
Total annual expenses16.26 %
__________
(1)The amounts set forth in this table do not reflect the impact of any sales load, sales commission or other offering expenses borne by us and our stockholders. The maximum agent commission with respect to the shares of our common stock sold by us in the Current ATM Program is 2.0% of gross proceeds, with the exact amount of such compensation to be mutually agreed upon by us and the Sales Agent from time to time. In the event that securities are sold to or through underwriters or agents, a corresponding prospectus or prospectus supplement will disclose the applicable sales load or commission.
(2)The prospectus supplement corresponding to each offering will disclose the applicable estimated amount of offering expenses, the offering price and the offering expenses borne by us as a percentage of the offering price.
(3)The expenses associated with the administration of the dividend reinvestment plan are included in “Other expenses.” The plan administrator’s fees will be paid by us. We will not charge any brokerage charges or other charges to stockholders who participate in the plan. However, your own broker may impose brokerage charges in connection with your participation in the plan.
(4)Our base management fee, payable quarterly in arrears, is calculated at an annual rate of 1.75% of our average adjusted gross assets, including assets purchased with borrowed amounts and other forms of leverage. See “Item 1. Business-Management Agreements-Investment Advisory Agreement” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 for more information.
(5)Assumes that annual incentive fees earned by our Adviser remain consistent with the incentive fees that would have been earned by our Adviser (if not for the cumulative “catch-up” provision explained below) for the six months ended June 30, 2025 adjusted for any equity issuances. The incentive fee consists of two components, investment income and capital gains, which are largely independent of each other, with the result that one component may be payable even if the other is not payable. Under the investment income component, we pay our Adviser each quarter 20.0% of the amount by which our pre-incentive fee net investment income for the quarter exceeds a hurdle rate of 2.0% (which is 8.0% annualized) of our net assets at the end of the immediately preceding calendar quarter, subject to a “catch-up” provision pursuant to which our Adviser receives all of such income in excess of the 2.0% level but less than 2.5% and subject to a total return requirement. The effect of the “catch-up” provision is that, subject to the total return provision discussed below, if pre-incentive fee net investment income exceeds 2.5% in any calendar quarter, our Adviser receives 20.0% of our pre-incentive fee net investment income as if the 2.0% hurdle rate did not apply. The foregoing incentive fee is subject to a total return requirement, which provides that no incentive fee in respect of our pre-incentive fee net investment income is payable except to the extent that 20.0% of the cumulative net increase in net assets resulting from operations since March 5, 2014 exceeds the cumulative incentive fees accrued and/or paid since March 5, 2014. In other words, any investment income incentive fee that is payable in a calendar quarter will be limited to the lesser of (i) 20.0% of the amount by which our pre-incentive fee net investment income for such calendar quarter exceeds the 2.0% hurdle rate, subject to the “catch-up” provision and (ii) (x) 20.0% of the cumulative net increase in net assets resulting from operations since March 5, 2014 minus (y) the cumulative incentive fees accrued and/or paid since March 5, 2014. For the foregoing purpose, the “cumulative net increase in net assets resulting from operations” is the sum of our pre-incentive fee net investment income, realized gains and losses and unrealized appreciation and depreciation since March 5, 2014. Under the capital gains component of the incentive fee, we pay our Adviser at the end of each calendar year 20.0% of our aggregate cumulative realized capital gains from inception through the end of that year, computed net of our aggregate cumulative realized capital losses and our aggregate cumulative unrealized depreciation through the end of such year, less the aggregate amount of any previously paid capital gain incentive fees. For the foregoing purpose, our “aggregate cumulative realized capital gains” does not include any unrealized appreciation. It should be noted that we accrue an incentive fee for accounting purposes taking into account any unrealized appreciation in accordance with GAAP. The capital gains component of the incentive fee is not subject to any minimum return to stockholders.
(6)“Interest payments on borrowed funds” represent our estimated annual interest payment, fees and credit facility expenses and are based on results of operations for the six months ended June 30, 2025 (annualized), including with respect to the Credit Facility, the 2025 Notes, the 2026 Notes, the 2027 Notes and the 2028 Notes. The costs associated with any outstanding indebtedness are indirectly borne by our common stockholders. The amount of leverage we employ at any particular time will depend on, among other things, the Board’s and our Adviser’s assessment of the market and other factors at the time at any proposed borrowing. We may also issue preferred stock, subject to our compliance with applicable requirements under the 1940 Act.
(7)“Other expenses” represent our estimated amounts for the current fiscal year, which are based upon the results of our operations for the six months ended June 30, 2025, including payments under the Administration Agreement based on our allocable portion of overhead and other expenses incurred by our Administrator.
  
Sales Load [Percent]                       0.00%  
Other Transaction Expenses [Abstract]                          
Other Transaction Expense 1 [Percent]                       0.00%  
Other Transaction Expense 2 [Percent]                       0.00%  
Annual Expenses [Table Text Block]                      
Stockholder Transaction Expenses:
Sales load or other commission payable by us (as a percentage of offering price)— %
(1)
Offering expenses (as a percentage of offering price)— %
(2)
Dividend reinvestment plan expenses— %
(3)
Total Stockholder Transaction Expenses (as a percentage of offering price)— %
Annual Expenses (as a percentage of net assets attributable to common stock):
Base management fee payable under the Advisory Agreement3.81 %
(4)
Incentive fee payable under the Advisory Agreement (20% of net investment income and realized capital gains)2.55 %
(5)
Interest payments on borrowed funds7.58 %
(6)
Other expenses2.32 %
(7)
Total annual expenses16.26 %
__________
(1)The amounts set forth in this table do not reflect the impact of any sales load, sales commission or other offering expenses borne by us and our stockholders. The maximum agent commission with respect to the shares of our common stock sold by us in the Current ATM Program is 2.0% of gross proceeds, with the exact amount of such compensation to be mutually agreed upon by us and the Sales Agent from time to time. In the event that securities are sold to or through underwriters or agents, a corresponding prospectus or prospectus supplement will disclose the applicable sales load or commission.
(2)The prospectus supplement corresponding to each offering will disclose the applicable estimated amount of offering expenses, the offering price and the offering expenses borne by us as a percentage of the offering price.
(3)The expenses associated with the administration of the dividend reinvestment plan are included in “Other expenses.” The plan administrator’s fees will be paid by us. We will not charge any brokerage charges or other charges to stockholders who participate in the plan. However, your own broker may impose brokerage charges in connection with your participation in the plan.
(4)Our base management fee, payable quarterly in arrears, is calculated at an annual rate of 1.75% of our average adjusted gross assets, including assets purchased with borrowed amounts and other forms of leverage. See “Item 1. Business-Management Agreements-Investment Advisory Agreement” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 for more information.
(5)Assumes that annual incentive fees earned by our Adviser remain consistent with the incentive fees that would have been earned by our Adviser (if not for the cumulative “catch-up” provision explained below) for the six months ended June 30, 2025 adjusted for any equity issuances. The incentive fee consists of two components, investment income and capital gains, which are largely independent of each other, with the result that one component may be payable even if the other is not payable. Under the investment income component, we pay our Adviser each quarter 20.0% of the amount by which our pre-incentive fee net investment income for the quarter exceeds a hurdle rate of 2.0% (which is 8.0% annualized) of our net assets at the end of the immediately preceding calendar quarter, subject to a “catch-up” provision pursuant to which our Adviser receives all of such income in excess of the 2.0% level but less than 2.5% and subject to a total return requirement. The effect of the “catch-up” provision is that, subject to the total return provision discussed below, if pre-incentive fee net investment income exceeds 2.5% in any calendar quarter, our Adviser receives 20.0% of our pre-incentive fee net investment income as if the 2.0% hurdle rate did not apply. The foregoing incentive fee is subject to a total return requirement, which provides that no incentive fee in respect of our pre-incentive fee net investment income is payable except to the extent that 20.0% of the cumulative net increase in net assets resulting from operations since March 5, 2014 exceeds the cumulative incentive fees accrued and/or paid since March 5, 2014. In other words, any investment income incentive fee that is payable in a calendar quarter will be limited to the lesser of (i) 20.0% of the amount by which our pre-incentive fee net investment income for such calendar quarter exceeds the 2.0% hurdle rate, subject to the “catch-up” provision and (ii) (x) 20.0% of the cumulative net increase in net assets resulting from operations since March 5, 2014 minus (y) the cumulative incentive fees accrued and/or paid since March 5, 2014. For the foregoing purpose, the “cumulative net increase in net assets resulting from operations” is the sum of our pre-incentive fee net investment income, realized gains and losses and unrealized appreciation and depreciation since March 5, 2014. Under the capital gains component of the incentive fee, we pay our Adviser at the end of each calendar year 20.0% of our aggregate cumulative realized capital gains from inception through the end of that year, computed net of our aggregate cumulative realized capital losses and our aggregate cumulative unrealized depreciation through the end of such year, less the aggregate amount of any previously paid capital gain incentive fees. For the foregoing purpose, our “aggregate cumulative realized capital gains” does not include any unrealized appreciation. It should be noted that we accrue an incentive fee for accounting purposes taking into account any unrealized appreciation in accordance with GAAP. The capital gains component of the incentive fee is not subject to any minimum return to stockholders.
(6)“Interest payments on borrowed funds” represent our estimated annual interest payment, fees and credit facility expenses and are based on results of operations for the six months ended June 30, 2025 (annualized), including with respect to the Credit Facility, the 2025 Notes, the 2026 Notes, the 2027 Notes and the 2028 Notes. The costs associated with any outstanding indebtedness are indirectly borne by our common stockholders. The amount of leverage we employ at any particular time will depend on, among other things, the Board’s and our Adviser’s assessment of the market and other factors at the time at any proposed borrowing. We may also issue preferred stock, subject to our compliance with applicable requirements under the 1940 Act.
(7)“Other expenses” represent our estimated amounts for the current fiscal year, which are based upon the results of our operations for the six months ended June 30, 2025, including payments under the Administration Agreement based on our allocable portion of overhead and other expenses incurred by our Administrator.
  
Management Fees [Percent]                       3.81%  
Interest Expenses on Borrowings [Percent]                       7.58%  
Incentive Fees [Percent]                       2.55%  
Other Annual Expenses [Abstract]                          
Other Annual Expense 1 [Percent]                       2.32%  
Total Annual Expenses [Percent]                       16.26%  
Expense Example [Table Text Block]                      
The following example demonstrates the projected dollar amount of total cumulative expenses over various periods with respect to a hypothetical investment in our common stock. In calculating the following expense amounts, we have assumed we would have no additional leverage and that our annual operating expenses would remain at the levels set forth in the table above.
1 Year3 Years5 Years10 Years
You would pay the following expenses on a $1,000 investment, assuming a 5%
          annual return (1)
$137 $377 $576 $941 
You would pay the following expenses on a $1,000 investment, assuming a 5%
          annual return entirely from realized capital gains		$147 $400 $606 $969 
__________________
(1) Assumes no return from net realized capital gains or net unrealized capital appreciation.
  
Expense Example, Year 01                       $ 137  
Expense Example, Years 1 to 3                       377  
Expense Example, Years 1 to 5                       576  
Expense Example, Years 1 to 10                       $ 941  
Other Transaction Fees, Note [Text Block]                       The prospectus supplement corresponding to each offering will disclose the applicable estimated amount of offering expenses, the offering price and the offering expenses borne by us as a percentage of the offering price.The expenses associated with the administration of the dividend reinvestment plan are included in “Other expenses.” The plan administrator’s fees will be paid by us. We will not charge any brokerage charges or other charges to stockholders who participate in the plan. However, your own broker may impose brokerage charges in connection with your participation in the plan.  
Other Expenses, Note [Text Block]                       “Other expenses” represent our estimated amounts for the current fiscal year, which are based upon the results of our operations for the six months ended June 30, 2025, including payments under the Administration Agreement based on our allocable portion of overhead and other expenses incurred by our Administrator.  
Management Fee not based on Net Assets, Note [Text Block]                       Our base management fee, payable quarterly in arrears, is calculated at an annual rate of 1.75% of our average adjusted gross assets, including assets purchased with borrowed amounts and other forms of leverage. See “Item 1. Business-Management Agreements-Investment Advisory Agreement” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 for more information.  
General Description of Registrant [Abstract]                          
Share Price [Table Text Block]                      
Our common stock is traded on the NYSE under the symbol “TPVG.” The following table shows, for each fiscal quarter during the last two full fiscal years and the current fiscal year to date, the net asset value (“NAV”) per share of our common stock, the high and low closing sales prices for our common stock, such sales prices as a percentage of NAV per share and quarterly distributions per share.
Closing Sales Price(2)
Premium/(Discount) of High Sales Price to NAV(3)
Premium/(Discount) of Low Sales Price to NAV(3)
Declared Distributions
Period
NAV(1)
HighLow
Third Quarter of 2025 (through August 5, 2025)*$7.42 $6.79 **$0.23 
Second Quarter of 2025$8.65 $7.37 $5.76 (14.8)%(33.4)%$0.30 
First Quarter of 2025$8.62 $8.14 $6.98 (5.6)%(19.0)%$0.30 
Fourth Quarter of 2024$8.61 $8.39 $6.50 (2.6)%(24.5)%$0.30 
Third Quarter of 2024$9.10 $8.99 $6.86 (1.2)%(24.6)%$0.30 
Second Quarter of 2024$8.83 $9.63 $7.97 9.1 %(9.7)%$0.40 
First Quarter of 2024$9.02 $11.48 $9.01 27.3 %(0.1)%$0.40 
Fourth Quarter of 2023$9.21 $10.99 $9.20 19.3 %(0.1)%$0.40 
Third Quarter of 2023$10.37 $12.62 $10.12 21.7 %(2.4)%$0.40 
Second Quarter of 2023$10.70 $12.27 $9.81 14.7 %(8.3)%$0.40 
First Quarter of 2023$11.69 $12.72 $10.75 8.8 %(8.0)%$0.40 
_______________
(1)NAV per share is determined as of the last day in the relevant quarter and therefore may not reflect the NAV per share on the date of the high and low sales prices. The NAVs shown are based on outstanding shares at the end of each period.
(2)Closing sales price as provided by the NYSE.
(3)Calculated as of the respective high or low closing sales price divided by the quarter-end NAV and subtracting 1.
*    Not determinable at the time of filing.
On August 5, 2025, the reported closing sales price of our common stock was $6.90 per share. As of August 5, 2025, we had 7 stockholders of record, which did not include stockholders for whom shares are held in “nominee” or “street name”.
Shares of BDCs may trade at a market price that is less than the value of the net assets attributable to those shares. The possibility that shares of our common stock will trade at a discount from NAV or at premiums that are unsustainable over the long term are separate and distinct from the risk that our NAV will decrease. It is not possible to predict whether the shares offered hereby will trade at, above or below NAV.
  
Lowest Price or Bid $ 6.79 $ 5.76 $ 6.98 $ 6.50 $ 6.86 $ 7.97 $ 9.01 $ 9.20 $ 10.12 $ 9.81 $ 10.75    
Highest Price or Bid $ 7.42 $ 7.37 $ 8.14 $ 8.39 $ 8.99 $ 9.63 $ 11.48 $ 10.99 $ 12.62 $ 12.27 $ 12.72    
Highest Price or Bid, Premium (Discount) to NAV [Percent]   (14.80%) (5.60%) (2.60%) (1.20%) 9.10% 27.30% 19.30% 21.70% 14.70% 8.80%    
Lowest Price or Bid, Premium (Discount) to NAV [Percent]   (33.40%) (19.00%) (24.50%) (24.60%) (9.70%) (0.10%) (0.10%) (2.40%) (8.30%) (8.00%)    
Share Price   $ 7.01       $ 8.03           $ 7.01 $ 6.90
NAV Per Share   $ 8.65 $ 8.62 $ 8.61 $ 9.10 $ 8.83 $ 9.02 $ 9.21 $ 10.37 $ 10.70 $ 11.69 $ 8.65  
Capital Stock, Long-Term Debt, and Other Securities [Abstract]                          
Long Term Debt [Table Text Block]                      
Credit Facility
As of June 30, 2025, we had $300.0 million in total commitments available under the Credit Facility, subject to various covenants and borrowing base requirements. The Credit Facility also includes an accordion feature, which allows us to increase the size of the Credit Facility to up to $400.0 million under certain circumstances. The revolving period under the Credit Facility is scheduled to expire on November 30, 2025, and the scheduled maturity date of the Credit Facility is May 30, 2027 (unless otherwise terminated earlier pursuant to its terms). Borrowings under the Credit Facility bear interest at the sum of (i) a floating rate based on certain indices, including SOFR and commercial paper rates (subject to a floor of 0.50%), plus (ii) a margin of 3.20% if facility utilization is greater than or equal to 75%, 3.35% if utilization is greater than or equal to 50% but less than 75%, 3.50% if utilization is less than 50% and 4.5% during the amortization period. See “Note 6. Borrowings” in the notes to the consolidated financial statements for more information regarding the terms of the Credit Facility.
As of June 30, 2025 and December 31, 2024, we had outstanding borrowings under the Credit Facility of $50.0 million and $5.0 million, respectively, excluding deferred credit facility costs of $3.1 million and $3.9 million, respectively, which is included in the consolidated statements of assets and liabilities. We had $250.0 million and $295.0 million of remaining capacity on our Credit Facility as of June 30, 2025 and December 31, 2024, respectively.
2025 Notes
In March 2025, we repaid the full $70.0 million in aggregate principal amount of the issued and outstanding 2025 Notes at maturity at par value plus the accrued and unpaid interest.
2026 Notes
On March 1, 2021, we completed a private offering of $200.0 million in aggregate principal amount of the 2026 Notes and received net proceeds of $197.9 million, after the payment of fees and offering costs. The interest on the 2026 Notes, which accrues at an annual rate of 4.50%, is payable semiannually on March 19 and September 19 each year. The maturity date of the 2026 Notes is scheduled for March 1, 2026.
As of June 30, 2025 and December 31, 2024, we have recorded in the consolidated statements of assets and liabilities our liability for the 2026 Notes, net of deferred issuance costs, of $199.7 million and $199.5 million, respectively. See “Note 6. Borrowings” in the notes to the consolidated financial statements for more information regarding the 2026 Notes.
2027 Notes
On February 28, 2022, we completed a private offering of $125.0 million in aggregate principal amount of the 2027 Notes and received net proceeds of $123.7 million, after the payment of fees and offering costs. The interest on the 2027 Notes, which accrues at an annual rate of 5.00%, is payable semiannually on February 28 and August 28 each year. The maturity date of the 2027 Notes is scheduled for February 28, 2027.
As of June 30, 2025 and December 31, 2024, we have recorded in the consolidated statements of assets and liabilities our liability for the 2027 Notes, net of deferred issuance costs, of $124.5 million and $124.4 million, respectively. See “Note 6. Borrowings” in the notes to the consolidated financial statements for more information regarding the 2027 Notes.
2028 Notes
On February 12, 2025, we completed a private offering of $50.0 million in aggregate principal amount of the 2028 Notes and received net proceeds of $49.3 million, after the payment of fees and offering costs. The interest on the 2028 Notes, which accrues at an annual rate of 8.11%, is payable semiannually on February 12 and August 12 each year. The maturity date of the 2028 Notes is scheduled for February 12, 2028.
As of June 30, 2025, we have recorded in the consolidated statements of assets and liabilities our liability for the 2028 Notes, net of deferred issuance costs, of $49.4 million. See “Note 6. Borrowings” in the notes to the consolidated financial statements for more information regarding the 2028 Notes.
  
Credit Facility 1 [Member]                          
Capital Stock, Long-Term Debt, and Other Securities [Abstract]                          
Long Term Debt, Title [Text Block]                      
Credit Facility
  
Long Term Debt, Principal                       $ 300,000,000  
Line of Credit [Member]                          
Capital Stock, Long-Term Debt, and Other Securities [Abstract]                          
Long Term Debt, Structuring [Text Block]                       As of June 30, 2025, we had $300.0 million in total commitments available under the Credit Facility, subject to various covenants and borrowing base requirements. The Credit Facility also includes an accordion feature, which allows us to increase the size of the Credit Facility to up to $400.0 million under certain circumstances. The revolving period under the Credit Facility is scheduled to expire on November 30, 2025, and the scheduled maturity date of the Credit Facility is May 30, 2027 (unless otherwise terminated earlier pursuant to its terms). Borrowings under the Credit Facility bear interest at the sum of (i) a floating rate based on certain indices, including SOFR and commercial paper rates (subject to a floor of 0.50%), plus (ii) a margin of 3.20% if facility utilization is greater than or equal to 75%, 3.35% if utilization is greater than or equal to 50% but less than 75%, 3.50% if utilization is less than 50% and 4.5% during the amortization period. See “Note 6. Borrowings” in the notes to the consolidated financial statements for more information regarding the terms of the Credit Facility.  
2025 Notess [Member]                          
Capital Stock, Long-Term Debt, and Other Securities [Abstract]                          
Long Term Debt, Title [Text Block]                      
2025 Notes
  
Long Term Debt, Structuring [Text Block]                      
In March 2025, we repaid the full $70.0 million in aggregate principal amount of the issued and outstanding 2025 Notes at maturity at par value plus the accrued and unpaid interest.
  
2026 Notes [Member]                          
Capital Stock, Long-Term Debt, and Other Securities [Abstract]                          
Long Term Debt, Title [Text Block]                      
2026 Notes
  
Long Term Debt, Principal                       $ 200,000,000  
Long Term Debt, Structuring [Text Block]                      
On March 1, 2021, we completed a private offering of $200.0 million in aggregate principal amount of the 2026 Notes and received net proceeds of $197.9 million, after the payment of fees and offering costs. The interest on the 2026 Notes, which accrues at an annual rate of 4.50%, is payable semiannually on March 19 and September 19 each year. The maturity date of the 2026 Notes is scheduled for March 1, 2026.
  
2027 Notes [Member]                          
Capital Stock, Long-Term Debt, and Other Securities [Abstract]                          
Long Term Debt, Title [Text Block]                      
2027 Notes
  
Long Term Debt, Principal                       $ 125,000,000  
Long Term Debt, Structuring [Text Block]                      
On February 28, 2022, we completed a private offering of $125.0 million in aggregate principal amount of the 2027 Notes and received net proceeds of $123.7 million, after the payment of fees and offering costs. The interest on the 2027 Notes, which accrues at an annual rate of 5.00%, is payable semiannually on February 28 and August 28 each year. The maturity date of the 2027 Notes is scheduled for February 28, 2027.
  
2028 Notes [Member]                          
Capital Stock, Long-Term Debt, and Other Securities [Abstract]                          
Long Term Debt, Title [Text Block]                      
2028 Notes
  
Long Term Debt, Principal                       $ 50,000,000  
Long Term Debt, Structuring [Text Block]                      
On February 12, 2025, we completed a private offering of $50.0 million in aggregate principal amount of the 2028 Notes and received net proceeds of $49.3 million, after the payment of fees and offering costs. The interest on the 2028 Notes, which accrues at an annual rate of 8.11%, is payable semiannually on February 12 and August 12 each year. The maturity date of the 2028 Notes is scheduled for February 12, 2028.