v3.26.1
Consolidated Schedule of Investments (Interest Rate Swaps) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Notional Amount $ 5,741,707 $ 4,270,868
Derivative liabilities, at fair value (Note 6) $ 13,882 $ 20,792
November 2027 Notes    
Basis spread on variable rate (as percent) 3.68% 3.87%
Interest rate swaps    
Notional Amount $ 3,226,500 $ 3,626,500
Derivative liabilities, at fair value (Note 6) 13,474 50,869
Upfront Payments / Receipts 0 0
Change in Unrealized Gains / (Losses) $ (37,394) [1] $ 62,216 [2]
Interest rate swap one    
Company Receives 8.43% 8.43%
Basis spread on variable rate (as percent) 4.42% [3],[4] 4.42% [5],[6]
Notional Amount $ 77,500 $ 77,500
Derivative liabilities, at fair value (Note 6) (367) (866)
Upfront Payments / Receipts 0 0
Change in Unrealized Gains / (Losses) $ (499) [1] $ 1,201 [2]
Interest rate swap two    
Company Receives 8.18% 8.18%
Basis spread on variable rate (as percent) 4.24% [3],[4] 4.24% [5],[6]
Notional Amount $ 124,000 $ 124,000
Derivative liabilities, at fair value (Note 6) (433) (1,273)
Upfront Payments / Receipts 0 0
Change in Unrealized Gains / (Losses) $ (840) [1] $ 2,561 [2]
Interest rate swap three    
Company Receives 8.67% 8.67%
Basis spread on variable rate (as percent) 4.31% [3],[4] 4.31% [5],[6]
Notional Amount $ 75,000 $ 75,000
Derivative liabilities, at fair value (Note 6) (593) (1,183)
Upfront Payments / Receipts 0 0
Change in Unrealized Gains / (Losses) $ (590) [1] $ 1,001 [2]
Interest rate swap four    
Company Receives 8.80% 8.80%
Basis spread on variable rate (as percent) 4.54% [3],[4] 4.54% [5],[6]
Notional Amount $ 250,000 $ 250,000
Derivative liabilities, at fair value (Note 6) (3,113) (5,287)
Upfront Payments / Receipts 0 0
Change in Unrealized Gains / (Losses) $ (2,174) [1] $ 5,229 [2]
Interest rate swap five    
Company Receives 6.75% 6.75%
Basis spread on variable rate (as percent) 2.88% [3],[4] 2.88% [5],[6]
Notional Amount $ 550,000 $ 550,000
Derivative liabilities, at fair value (Note 6) (3,051) (6,146)
Upfront Payments / Receipts 0 0
Change in Unrealized Gains / (Losses) $ (3,095) [1] $ 14,885 [2]
Interest rate swap six    
Company Receives 6.25% 6.25%
Basis spread on variable rate (as percent) 2.06% [3],[4] 2.06% [5],[6]
Notional Amount $ 400,000 $ 400,000
Derivative liabilities, at fair value (Note 6) (6,844) (10,405)
Upfront Payments / Receipts 0 0
Change in Unrealized Gains / (Losses) $ (3,561) [1] $ 11,630 [2]
Interest rate swap seven    
Company Receives 5.45% 5.45%
Basis spread on variable rate (as percent) 1.29% [3],[4] 1.29% [5],[6]
Notional Amount $ 750,000 $ 750,000
Derivative liabilities, at fair value (Note 6) (6,525) (11,114)
Upfront Payments / Receipts 0 0
Change in Unrealized Gains / (Losses) $ (4,588) [1] $ 11,114 [2]
Interest rate swap eight    
Company Receives 5.95% 5.95%
Basis spread on variable rate (as percent) 1.76% [3],[4] 1.76% [5],[6]
Notional Amount $ 500,000 $ 500,000
Derivative liabilities, at fair value (Note 6) (12,622) (16,242)
Upfront Payments / Receipts 0 0
Change in Unrealized Gains / (Losses) $ (3,620) [1] $ 16,242 [2]
Interest rate swap nine    
Company Receives 5.30% 5.30%
Basis spread on variable rate (as percent) 1.54% [3],[4] 1.54% [5],[6]
Notional Amount $ 400,000 $ 400,000
Derivative liabilities, at fair value (Note 6) 72 (1,851)
Upfront Payments / Receipts 0 0
Change in Unrealized Gains / (Losses) $ (1,923) [1] $ 1,851 [2]
Interest rate swap ten    
Company Receives 5.85% 5.85%
Basis spread on variable rate (as percent) 2.15% [3],[4] 2.15% [5],[6]
Notional Amount $ 500,000 $ 500,000
Derivative liabilities, at fair value (Note 6) (335) (4,124)
Upfront Payments / Receipts 0 0
Change in Unrealized Gains / (Losses) $ (3,789) [1] $ 4,124 [2]
Interest rate swap eleven    
Company Receives 4.90% 4.90%
Basis spread on variable rate (as percent) 1.59% [3],[4] 1.59% [5],[6]
Notional Amount $ 600,000 $ 600,000
Derivative liabilities, at fair value (Note 6) 5,163 2,640
Upfront Payments / Receipts 0 0
Change in Unrealized Gains / (Losses) $ (2,523) [1] $ (2,640) [2]
Interest rate swap twelve    
Company Receives 5.45% 5.45%
Basis spread on variable rate (as percent) 2.09% [3],[4] 2.09% [5],[6]
Notional Amount $ 500,000 $ 500,000
Derivative liabilities, at fair value (Note 6) 8,790 4,982
Upfront Payments / Receipts 0 0
Change in Unrealized Gains / (Losses) $ (3,808) [1] $ (4,982) [2]
Interest rate swap thirteen    
Company Receives 5.15%  
Basis spread on variable rate (as percent) [3],[4] 1.77%  
Notional Amount $ 350,000  
Derivative liabilities, at fair value (Note 6) 2,904  
Upfront Payments / Receipts 0  
Change in Unrealized Gains / (Losses) [1] $ (2,904)  
Interest rate swap fourteen    
Company Receives 5.65%  
Basis spread on variable rate (as percent) [3],[4] 2.13%  
Notional Amount $ 400,000  
Derivative liabilities, at fair value (Note 6) 3,480  
Upfront Payments / Receipts 0  
Change in Unrealized Gains / (Losses) [1] $ (3,480)  
[1] For interest rate swaps designated in qualifying hedge relationships, the change in fair value is recorded in Interest Expense in the Consolidated Statements of Operations.
[2] For interest rate swaps designated in qualifying hedge relationships, the change in fair value is recorded in Interest Expense in the Consolidated Statements of Operations.
[3] Interest payments on the Company’s interest rate swaps are made semiannually.
[4] The interest rate on the interest rate swaps are subject to 3 month SOFR, which as of March 31, 2026 was 3.68% other than the swap on the November 2027 Notes which is subject to the daily SOFR rate which was 3.68% at March 31, 2026.
[5] Interest payments on the Company’s interest rate swaps are made semi-annually.
[6] The interest rate on the interest rate swaps are subject to 3 month SOFR, which as of December 31, 2025 was 3.65% other than the swap on the November 2027 Notes which is subject to the daily SOFR rate which was 3.87% at December 31, 2025