Senior Secured Notes and Corporate Debt, net (Tables)

3 Months Ended

Mar. 31, 2026

Schedule of Senior Secured Notes and Corporate Debt Issued Through Public and Private Transactions

The table below presents information about senior secured notes and corporate debt issued through public and private

transactions.


(in thousands)	Coupon Rate	Maturity Date	March 31, 2026
Senior secured notes principal amount(1)	4.50%	10/20/2026	$350,000
Senior secured notes principal amount(2)	9.375%	3/1/2028	270,000
Term loan principal amount(3)	SOFR + 5.50%	4/12/2029	115,250
Unamortized discount			(1,747)
Unamortized deferred financing costs			(9,796)
Total senior secured notes, net			$723,707
Corporate debt principal amount(4)	5.50%	12/30/2028	110,000
Corporate debt principal amount(5)	6.20%	7/30/2026	67,443
Corporate debt principal amount(6)	7.375%	7/31/2027	100,000
Corporate debt principal amount(7)	5.00%	11/15/2026	100,000
Corporate debt principal amount(8)	9.00%	12/15/2029	129,371
Unamortized discount - corporate debt			(4,600)
Unamortized deferred financing costs - corporate debt			(1,492)
Junior subordinated notes principal amount(9)	SOFR + 3.10%	3/30/2035	15,000
Junior subordinated notes principal amount(10)	SOFR + 3.10%	4/30/2035	21,250
Total corporate debt, net			$536,972
Total carrying amount of debt			$1,260,679

(1)Interest on the senior secured notes is payable semiannually on April 20 and October 20 of each year.

(2)Interest on the senior secured notes is payable semiannually on March 1 and September 1 of each year.

(3)Interest on the term loan is payable quarterly on January 12, April 12, July 12 and October 12 of each year.

(4)Interest on the corporate debt is payable semiannually on June 30 and December 30 of each year.

(5)Interest on the corporate debt is payable quarterly on January 30, April 30, July 30, and October 30 of each year.

(6)Interest on the corporate debt is payable semiannually on January 31 and July 31 of each year.

(7)Interest on the corporate debt is payable semiannually on May 15 and November 15 of each year; assumed as part of the Broadmark Merger (as defined above).

(8)Interest on the corporate debt is payable quarterly on March 15, June 15, September 15, and December 15 of each year.

(9) Interest on the Junior subordinated notes I-A is payable quarterly on March 30, June 30, September 30, and December 30 of each year.

(10) Interest on the Junior subordinated notes I-B is payable quarterly on January 30, April 30, July 30, and October 30 of each year.

Schedule of Contractual Maturities for Senior Secured Notes and Corporate Debt

The table below presents the contractual maturities for senior secured notes and corporate debt.


(in thousands)	March 31, 2026
2026	$517,443
2027	100,000
2028	380,000
2029	244,621
2030	—
Thereafter	36,250
Total contractual amounts	$1,278,314
Unamortized deferred financing costs, discounts, and premiums, net	(17,635)
Total carrying amount of debt	$1,260,679