| Outstanding Debt Obligations |
The Company’s outstanding debt
obligations were as follows:
| | | As of March 31, 2026 |
| | | Aggregate
Borrowing
Capacity | | | Outstanding
Principal | | | Less
Unamortized Deferred
Financing Costs | | | Carrying Value per
Consolidated
Statement of Assets and
Liabilities |
| SMBC Revolving Credit Facility | | $ | 325,000 | | | $ | 101,922 | (1) | | $ | 2,696 | | | $ | 99,226 | |
| BofA ABL Credit Facility | | | 450,000 | | | | 409,860 | | | | 3,221 | | | | 406,639 | |
| RBC ABL Credit Facility | | | 300,000 | | | | 205,924 | (2) | | | 1,021 | | | | 204,903 | |
| Total | | $ | 1,075,000 | | | $ | 717,706 | | | $ | 6,938 | | | $ | 710,768 | |
| (1) | Net of $254 in unrealized appreciation related to foreign currency translations |
| (2) | Net of $(570) in unrealized depreciation related to foreign currency translations |
| | |
As of December 31, 2025 |
| | |
Aggregate
Borrowing
Capacity |
| |
Outstanding
Principal |
| |
Less
Unamortized Deferred
Financing Costs |
| |
Carrying Value per
Consolidated
Statement of Assets and
Liabilities |
| SMBC Revolving Credit Facility | |
$ | 325,000 | | |
$ | 226,248 | (1) | |
$ | 2,879 | | |
$ | 223,369 | |
| BofA ABL Credit Facility | |
| 450,000 | | |
| 406,300 | | |
| 2,298 | | |
| 404,002 | |
| RBC ABL Credit Facility | |
| 300,000 | | |
| 170,402 | (2) | |
| 723 | | |
| 169,679 | |
| Total | |
$ | 1,075,000 | | |
$ | 802,950 | | |
$ | 5,900 | | |
$ | 797,050 | |
| (1) | Net of ($71) in unrealized depreciation related to foreign currency translations |
| (2) | Net of ($123) in unrealized depreciation related to foreign currency translations |
|
| Components of Interest Expense |
The components of interest
expense for the three months ended March 31, 2026, and March 31, 2025 were as follows:
| | |
For the three months ended
March 31, 2026 | |
For the three months ended
March 31, 2025 |
| Borrowing interest expense | |
$ | 9,836 | | |
$ | 5,069 | |
| Facility unused fee | |
| 258 | | |
| 258 | |
| Amortization of deferred financing costs | |
| 418 | | |
| 515 | |
| Total | |
$ | 10,512 | | |
$ | 5,842 | |
|
| Weighted Average Debt Outstanding and Interest Rate |
The following table summarizes the average
debt outstanding and the weighted average interest cost:
| | |
For the three months ended
March 31, 2026 |
| |
For the three months ended
March 31, 2025 |
|
| Combined weighted average interest rate (1) | |
| 5.57% | | |
| 6.40% | |
| Combined weighted average debt outstanding | |
$ | 716,380 | | |
$ | 321,314 | |
| (1) | Excludes facility unused fees and amortization of deferred financing costs. |
|