v3.26.1
Debt (Tables)
3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Instruments

The key terms of these facilities are as follows:

 

Facility

 

Currency

 

Interest Rate (1)

 

Effective Interest Rate (2)

 

Facility
Maturity
Date

 

Principal
Outstanding
as of March 31, 2026 (Local
Currency)

 

 

Principal
Outstanding at
March 31,
2026 (USD)

 

Term Loan Facility (USD) (3)

 

USD

 

USD SOFR (6) + 0.11%(4) + 2.75%
(0.5% floor)

 

8.0%

 

Jun-28

 

$

816,136

 

 

$

816,136

 

Term Loan Facility (EUR) (5)

 

EUR

 

EURIBOR + 3.00% (0% floor)

 

6.4%

 

Jun-28

 

 

586,281

 

 

 

677,312

 

Secured Loan Notes (EUR)

 

EUR

 

3.00%

 

3.2%

 

Jun-29

 

 

421,362

 

 

 

486,786

 

Secured Loan Notes (USD)

 

USD

 

4.00%

 

4.2%

 

Jun-29

 

 

337,206

 

 

 

337,206

 

Revolving Credit Facility (USD)

 

USD

 

BASE + 0.10%(4) + 2.25%
(0% floor)

 

6.0%

 

Dec-27

 

 

73,000

 

 

 

73,000

 

Revolving Credit Facility (EUR)

 

EUR

 

BASE + 2.25% (0% floor)

 

4.2%

 

Dec-27

 

 

44,000

 

 

 

50,832

 

Line of Credit

 

USD

 

Term SOFR (6) + 2.70%

 

6.5%

 

Jul-27

 

 

74,000

 

 

 

74,000

 

Total Principal Outstanding

 

 

 

 

 

 

 

 

 

 

 

 

$

2,515,272

 

 

(1)
For facilities which utilize the EURIBOR and SOFR rates, a rate floor of 0% and 0.5% applies, respectively.
(2)
The effective interest rate is as of March 31, 2026.
(3)
Represents Term Loan Facility (USD) and USD Incremental Term Loan as defined under the current facilities.
(4)
Represents a credit spread adjustment to reflect the historical difference between LIBOR and SOFR.
(5)
Represent Term Loan Facility (EUR) and EUR Incremental Term Loan as defined under the current facilities.
(6)
The Term Secured Overnight Financing Rate ("Term SOFR") is the forward-looking term rate based on the SOFR. The Term SOFR is administered by the CME Group Benchmark Association Limited.
Schedule of Long-Term Debt

 

 

March 31, 2026

 

 

December 31, 2025

 

Principal Outstanding

 

$

2,515,272

 

 

$

2,639,448

 

Unamortized debt issuance cost

 

 

(21,841

)

 

 

(24,220

)

Total

 

 

2,493,431

 

 

 

2,615,228

 

Short-term debt

 

 

10,190

 

 

 

10,190

 

Non-current debt

 

$

2,483,241

 

 

$

2,605,038

 

Schedule of Maturities of Non Current Debt

Maturity requirements on debt as of March 31, 2026 by year are as follows:

 

Remainder 2026

 

$

7,642

 

2027

 

 

208,022

 

2028

 

 

1,475,616

 

2029

 

 

823,992

 

Total

 

$

2,515,272