| Schedule of Debt Obligations |
The tables below present debt obligations as of the following periods: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2025 | | ($ in thousands) | Aggregate Principal Committed | | Outstanding Principal | | Amount Available(1) | | Unamortized Debt Issuance Costs (Premium) | | Net Carrying Value | Revolving Credit Facility(2) | $ | 2,575,000 | | | $ | 365,009 | | | $ | 2,209,991 | | | $ | 26,535 | | | $ | 338,474 | | | SPV Asset Facility I | 700,000 | | | 650,000 | | | 50,000 | | | 8,949 | | | 641,051 | | | SPV Asset Facility II | 400,000 | | | — | | | 400,000 | | | 4,272 | | | (4,272) | | | SPV Asset Facility III | 775,000 | | | 312,500 | | | 334,351 | | | 9,360 | | | 303,140 | | | SPV Asset Facility IV | 300,000 | | | — | | | 300,000 | | | 3,077 | | | (3,077) | | | CLO 2020-1 | 204,000 | | | 204,000 | | | — | | | 3,835 | | | 200,165 | | | Athena CLO II | 288,000 | | | 288,000 | | | — | | | 2,161 | | | 285,839 | | | Athena CLO IV | 240,000 | | | 240,000 | | | — | | | 2,446 | | | 237,554 | | | December 2025 Notes | 650,000 | | | 650,000 | | | — | | | (710) | | | 650,710 | | | June 2026 Notes | 375,000 | | | 375,000 | | | — | | | 1,482 | | | 373,518 | | | January 2027 Notes | 300,000 | | | 300,000 | | | — | | | 2,389 | | | 297,611 | | March 2028 Notes(3) | 650,000 | | | 650,000 | | | — | | | 9,538 | | | 654,138 | | | September 2028 Notes | 75,000 | | | 75,000 | | | — | | | 585 | | | 74,415 | | April 2029 Notes(3) | 700,000 | | | 700,000 | | | — | | | 13,236 | | | 702,959 | | | Total Debt | $ | 8,232,000 | | | $ | 4,809,509 | | | $ | 3,294,342 | | | $ | 87,155 | | | $ | 4,752,225 | |
(1)The amount available reflects any limitations related to each credit facility’s borrowing base. (2)Includes the unrealized translation gain (loss) on borrowings denominated in foreign currencies. (3)Net carrying value is inclusive of change in fair market value of effective hedge. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2024 | | ($ in thousands) | Aggregate Principal Committed | | Outstanding Principal | | Amount Available(1) | | Unamortized Debt Issuance Costs (Premium) | | Net Carrying Value | Revolving Credit Facility(2) | $ | 1,065,000 | | | $ | 313,004 | | | $ | 751,996 | | | $ | 14,675 | | | $ | 298,329 | | | SPV Asset Facility I | 700,000 | | | 600,000 | | | 100,000 | | | 9,552 | | | 590,448 | | | SPV Asset Facility II | 400,000 | | | 300,000 | | | 100,000 | | | 4,753 | | | 295,247 | | | June 2025 Notes | 210,000 | | | 210,000 | | | — | | | 623 | | | 209,377 | | | December 2025 Notes | 650,000 | | | 650,000 | | | — | | | (1,495) | | | 651,495 | | | June 2026 Notes | 375,000 | | | 375,000 | | | — | | | 2,227 | | | 372,773 | | | January 2027 Notes | 300,000 | | | 300,000 | | | — | | | 3,145 | | | 296,855 | | | CLO 2020-1 | 204,000 | | | 204,000 | | | — | | | 4,015 | | | 199,985 | | | Total Debt | $ | 3,904,000 | | | $ | 2,952,004 | | | $ | 951,996 | | | $ | 37,495 | | | $ | 2,914,509 | |
(1)The amount available reflects any limitations related to each credit facility’s borrowing base. (2)Includes the unrealized translation gain (loss) on borrowings denominated in foreign currencies.
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| Schedule of Components of Interest Expense |
The table below presents the components of interest expense for the following periods: | | | | | | | | | | | | | | | | | | | | | | | | | | | For the Three Months Ended June 30, | | For the Six Months Ended June 30, | | ($ in thousands) | 2025 | | 2024 | | 2025 | | 2024 | | | | Interest expense | $ | 79,430 | | | $ | 46,325 | | | $ | 127,134 | | | $ | 93,286 | | | | | Amortization of debt issuance costs, net | 7,544 | | | 2,126 | | | 11,058 | | | 4,420 | | | | Net change in unrealized (gain) loss on effective interest rate swaps and hedged items(1) | 353 | | | — | | | 821 | | | — | | | | | Total Interest Expense | $ | 87,327 | | | $ | 48,451 | | | $ | 139,013 | | | $ | 97,706 | | | | | Average interest rate | 6.1 | % | | 6.3 | % | | 6.0 | % | | 6.1 | % | | | | Average daily borrowings | $ | 5,173,588 | | | $ | 2,955,024 | | | $ | 4,276,854 | | | $ | 2,969,633 | | | |
(1)Refer to the March 2028 Notes and April 2029 Notes for details on the facilities’ interest rate swaps.
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