Note 6. Borrowings

In accordance with the 1940 Act, with certain limitations, the Company is allowed to borrow amounts such that its asset coverage, as defined in the 1940 Act, is at least 150% after such borrowing. As of December 31, 2025, the Company’s asset coverage was 182.41%.

Debt outstanding

Citi Facility

On July 18, 2025, ASTII Funding SPV LP, as borrower, and the Company, as servicer, entered into a revolving loan facility (the “Citi Facility”) pursuant to a Credit and Security Agreement (the “Agreement”), with the lenders from time to time party thereto, Citibank, N.A., as administrative agent (the “Administrative Agent”), U.S. Bank Trust Company, National Association, as collateral agent and collateral administrator, and U.S. Bank National Association, as collateral custodian. The Agreement is effective as of July 18, 2025. ASTII Funding SPV LP was acquired by the Company shortly after the consummation of the Agreement on the same day and was then converted into a limited liability company on July 23, 2025.

Loans under the Citi Facility bear interest at (i) a per annum rate equal to Term SOFR plus an additional margin calculated as a percentage of the aggregate principal balance of the underlying collateral obligations (the “Applicable Margin”) for loans denominated in U.S. Dollars, (ii) EURIBOR plus the Applicable Margin for loans denominated in Euros, (iii) Daily Compounded CORRA plus the Applicable Margin for loans denominated in Canadian Dollars, and (iv) SONIA plus the Applicable Margin for loans denominated in Great British Pounds. The Applicable Margin will equal the product of (i) 1.60% and (ii) the lesser of: (x) aggregate principal balance of all broadly-syndicated loans divided by the aggregate principal balance of all eligible loans and (y) 35% (“Percentage”) plus the product of (i) 1.875% and (ii) 100% minus Percentage, subject to a step-up of 2.00% following the occurrence of certain events of default.

The initial maximum principal amount under the Citi Facility is $250 million and the Agreement includes an accordion provision to permit increases to the total facility amount up to a maximum of $1 billion, subject in each case to the satisfaction of certain conditions and, for any increases above $750 million, the consent of the Administrative Agent and the lenders. Loans borrowed under the Citi Facility may be repaid and reborrowed until the end of the reinvestment period, which can occur no later than July 18, 2028 (unless extended), and all amounts outstanding under the Citi Facility must be repaid by July 18, 2030.

As of December 31, 2025, the Company was in compliance with all covenants associated with the Citi Facility.

Foreign Currency Transactions and Translations

Interest and Debt Expenses

Weighted average interest rates do not include impact of unused commitment fees or deferred financing costs.

As of December 31, 2025, $212 of interest expense was included in interest payable on the Consolidated Statement of Assets and Liabilities.