v3.25.2
Debt - Expenses Related to Debt (Details) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Debt Disclosure [Abstract]        
Stated interest expense $ 6,481,474 $ 8,231,373 $ 13,159,049 $ 16,460,893
Unfunded fees 163,158 108,497 338,058 213,909
Amortization of deferred financing costs and debt issuance costs 398,745 583,989 828,071 1,160,760
Net change in unrealized (appreciation) depreciation on effectively hedged interest rate swaps and debt [1] (20,570) 25,978 (50,360) 33,370
Total interest expense [2] $ 7,022,807 $ 8,949,837 $ 14,274,818 $ 17,868,932
Weighted average interest rate [3] 6.12% 7.63% 6.32% 7.66%
Average borrowings $ 460,175,000 $ 471,524,938 $ 455,753,563 $ 469,317,795
[1] Refer to "2026 Notes" for details on designated hedge relationship with the interest rate swaps.
[2] Interest expense includes the portion of the facility agent fee applicable to the drawn portion of the Revolving Credit Facility and the unfunded fee includes the portion of the facility agent fee applicable to the undrawn portion of the Revolving Credit Facility (see table above for details of the Fund's borrowings).
[3] Annualized