The following table presents a summary of Expense Payments and the related Reimbursement Payments since the Company’s commencement of operations:
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For the Month Ended |
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Expense Support from the Adviser |
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Recoupment of Expense Support |
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Expense Support No Longer Eligible for Reimbursement |
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Unreimbursed Expense Support |
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Ratio of Operating Expenses to Average Net Assets for the Period(1) |
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Effective Rate of Distribution per Share(2) |
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Eligible for Reimbursement through |
May 31, 2024 |
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$ |
217 |
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$ |
- |
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$ |
- |
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$ |
217 |
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1.66 |
% |
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|
7.17 |
% |
|
5/31/2027 |
June 30, 2024 |
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|
197 |
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- |
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- |
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|
197 |
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1.45 |
% |
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|
7.09 |
% |
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6/30/2027 |
July 31, 2024 |
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|
223 |
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- |
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- |
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|
223 |
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1.67 |
% |
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7.12 |
% |
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7/31/2027 |
August 31, 2024 |
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|
2,077 |
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- |
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- |
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2,077 |
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1.77 |
% |
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7.14 |
% |
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8/31/2027 |
September 30, 2024 |
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|
520 |
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- |
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- |
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|
520 |
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1.55 |
% |
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7.15 |
% |
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9/30/2027 |
October 31, 2024 |
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|
643 |
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- |
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- |
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|
643 |
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2.40 |
% |
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|
7.12 |
% |
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10/31/2027 |
November 30, 2024 |
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|
606 |
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- |
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- |
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|
606 |
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2.11 |
% |
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7.11 |
% |
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11/30/2027 |
December 31, 2024 |
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|
551 |
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- |
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- |
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|
551 |
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1.60 |
% |
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7.11 |
% |
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12/31/2027 |
January 31, 2025 |
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|
717 |
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- |
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- |
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|
717 |
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2.69 |
% |
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7.09 |
% |
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1/31/2028 |
February 28, 2025 |
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|
645 |
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- |
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- |
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|
645 |
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2.09 |
% |
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7.10 |
% |
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2/29/2028 |
March 31, 2025 |
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|
610 |
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- |
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- |
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|
610 |
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1.77 |
% |
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7.11 |
% |
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3/31/2028 |
April 30, 2025 |
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|
714 |
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- |
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- |
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|
714 |
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2.34 |
% |
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7.14 |
% |
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4/30/2028 |
May 31, 2025 |
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|
610 |
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- |
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- |
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|
610 |
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|
1.22 |
% |
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|
7.18 |
% |
|
5/31/2028 |
June 30, 2025 |
|
|
698 |
|
|
|
- |
|
|
|
- |
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|
698 |
|
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1.55 |
% |
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|
7.13 |
% |
|
6/30/2028 |
July 31, 2025 |
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|
460 |
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|
|
- |
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- |
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|
460 |
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1.27 |
% |
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7.07 |
% |
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7/31/2028 |
August 31, 2025 |
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|
320 |
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|
- |
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- |
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|
320 |
|
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1.27 |
% |
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|
7.08 |
% |
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8/31/2028 |
September 30, 2025 |
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|
334 |
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|
- |
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- |
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|
334 |
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0.97 |
% |
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7.06 |
% |
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9/30/2028 |
October 31, 2025 |
|
|
206 |
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- |
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- |
|
|
|
206 |
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1.19 |
% |
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7.10 |
% |
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10/31/2028 |
November 30, 2025 |
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|
105 |
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|
- |
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- |
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|
|
105 |
|
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0.71 |
% |
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|
7.14 |
% |
|
11/30/2028 |
(1) In accordance with the Expense Support and Conditional Reimbursement Agreement, the ratio of operating expenses excludes organization and offering expenses, stated interest expense, any base management fee and any incentive fee.
(2) The effective rate of distribution per share is the (a) annualized regular cash distributions per share, exclusive of returns of capital, distribution rate reductions due to distribution and shareholder fees, and declared special dividends or special distributions, if any, (b) divided by the prior month’s NAV per share.
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