v3.25.4
Debt (Tables)
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Debt

Debt consisted of the following:

 

As of December 31, 2025

 

 

As of December 31, 2024

 

(in $ thousands)

Aggregate Principal
Amount Committed

 

 

Drawn Amount

 

 

Amount
Available(1)

 

 

Carrying
Value(2)(3)

 

 

Aggregate Principal
Amount Committed

 

 

Drawn Amount

 

 

Amount
Available(1)

 

 

Carrying
Value(2)(3)

 

JPM Funding Facility

$

-

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

150,000

 

 

$

111,979

 

 

$

38,021

 

 

$

111,979

 

JPM Funding Facility III

 

575,000

 

 

 

419,972

 

 

 

155,028

 

 

 

419,972

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Total Debt

$

575,000

 

 

$

419,972

 

 

$

155,028

 

 

$

419,972

 

 

$

150,000

 

 

$

111,979

 

 

$

38,021

 

 

$

111,979

 
(1)
The amount available is subject to any limitations related to the credit facility borrowing base.
(2)
The amount presented excludes netting of deferred financing costs.
(3)
As of December 31, 2025 and 2024, the carrying amount of the Company’s outstanding debt approximated fair value, unless otherwise noted.
Summary of Interest and Credit Facility Expenses

The borrowing expenses incurred by the Company’s credit facilities were as follows:

 

For the Year Ended

 

 

For the Year Ended

 

 

For the period from
May 5, 2023
(Commencement of Operations) through

 

(in $ thousands)

December 31, 2025

 

 

December 31, 2024

 

 

December 31, 2023

 

Borrowing interest expense

$

11,760

 

 

$

5,509

 

 

$

120

 

Unused facility fees

 

1,252

 

 

 

282

 

 

 

26

 

Amortization of financing costs

 

905

 

 

 

359

 

 

 

23

 

Administrative fee

 

-

 

 

 

196

 

 

 

20

 

Total interest and other debt financing costs

$

13,917

 

 

$

6,346

 

 

$

189

 

Weighted average outstanding balance

$

201,372

 

 

$

73,192

 

 

$

2,241