| Schedule of Long-Term Debt Instruments |
The Company’s debt obligations were as follows.
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June 30, 2026 |
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December 31, 2025 |
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Aggregate
Principal
Committed |
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Outstanding
Principal |
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Unused
Portion |
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Aggregate
Principal
Committed |
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Outstanding
Principal |
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Unused
Portion |
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BNP Funding Facility |
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$ |
600,000 |
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$ |
351,000 |
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$ |
249,000 |
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$ |
600,000 |
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$ |
351,000 |
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$ |
249,000 |
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Truist Credit Facility(1) |
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1,450,000 |
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215,678 |
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1,222,547 |
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1,450,000 |
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308,153 |
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1,132,072 |
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CLO 2025-1 Issued Debt(2) |
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309,000 |
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309,000 |
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— |
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309,000 |
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309,000 |
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— |
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2027 Notes(3) |
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425,000 |
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425,000 |
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— |
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425,000 |
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425,000 |
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— |
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2029 Notes(3) |
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350,000 |
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350,000 |
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— |
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350,000 |
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350,000 |
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— |
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2030 Notes(3) |
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350,000 |
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350,000 |
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— |
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350,000 |
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350,000 |
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— |
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Total |
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$ |
3,484,000 |
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$ |
2,000,678 |
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$ |
1,471,547 |
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$ |
3,484,000 |
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$ |
2,093,153 |
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$ |
1,381,072 |
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(1)As of June 30, 2026 and December 31, 2025, a letter of credit of $11,775 and $9,775, respectively, was outstanding, which reduced the unused availability under the Truist Credit Facility by the same amount. Under the Truist Credit Facility, the Company may borrow in U.S. dollars or certain other permitted currencies. As of June 30, 2026 and December 31, 2025, the Company had borrowings denominated in Euros (EUR) of 3,060 and 3,298, respectively, Canadian dollars (CAD) of 3,300 and 3,300, respectively and Pound Sterling (GBP) of 1,020 and 1,020, respectively. (2)As of June 30, 2026 and December 31, 2025, the carrying value of the CLO 2025-1 Issued Debt was presented net of unamortized debt issuance costs of $2,891 and $2,869, respectively. (3)As of June 30, 2026, the carrying value of the Company’s 2027 Notes, 2029 Notes and 2030 Notes were presented net of unamortized debt issuance costs of $619, $2,244 and $3,534 and unamortized original issuance discount of $132, $2,236 and $2,914, respectively. As of December 31, 2025, the carrying value of the Company’s 2027 Notes, 2029 Notes and 2030 Notes were presented net of unamortized debt issuance costs of $1,252, $2,626 and $3,798 and unamortized original issuance discount of $238, $2,621 and $3,286, respectively. The Company's summary information of its debt obligations was as follows:
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For the Three Months Ended |
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For the Six Months Ended |
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June 30, 2026 |
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June 30, 2025 |
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June 30, 2026 |
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June 30, 2025 |
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Combined weighted average interest rate (1) |
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5.40 |
% |
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6.02 |
% |
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5.41 |
% |
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6.06 |
% |
Combined weighted average effective interest rate (2) |
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5.92 |
% |
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6.47 |
% |
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5.88 |
% |
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6.47 |
% |
Combined weighted average debt outstanding |
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$ |
2,038,557 |
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$ |
2,046,092 |
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$ |
2,035,406 |
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$ |
2,038,571 |
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(1)Excludes unused commitment fees, amortization of financing costs, accretion of original issue discount and net change in unrealized (appreciation) depreciation on effective interest rate swaps and hedged items. (2)Excludes unused commitment fees and net change in unrealized (appreciation) depreciation on effective interest rate swaps and hedged items. The summary information of the BNP Funding Facility is as follows:
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For the Three Months Ended |
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For the Six Months Ended |
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June 30, 2026 |
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June 30, 2025 |
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June 30, 2026 |
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June 30, 2025 |
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Borrowing interest expense |
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$ |
4,964 |
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$ |
5,250 |
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$ |
9,906 |
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$ |
10,444 |
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Facility unused commitment fees |
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337 |
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470 |
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367 |
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935 |
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Amortization of deferred financing costs |
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427 |
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408 |
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842 |
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808 |
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Total |
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$ |
5,728 |
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$ |
6,128 |
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$ |
11,115 |
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$ |
12,187 |
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Weighted average interest rate |
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5.59 |
% |
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6.57 |
% |
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5.61 |
% |
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6.57 |
% |
Weighted average effective interest rate |
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6.08 |
% |
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7.08 |
% |
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6.09 |
% |
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7.08 |
% |
Weighted average outstanding balance |
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$ |
351,000 |
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$ |
316,000 |
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$ |
351,000 |
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$ |
316,000 |
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The summary information of the Truist Credit Facility is as follows:
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For the Three Months Ended |
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For the Six Months Ended |
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June 30, 2026 |
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June 30, 2025 |
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June 30, 2026 |
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June 30, 2025 |
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Borrowing interest expense |
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$ |
3,537 |
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$ |
8,773 |
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$ |
6,998 |
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$ |
19,226 |
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Facility unused commitment fees |
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1,106 |
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803 |
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2,202 |
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1,442 |
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Amortization of deferred financing costs |
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897 |
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642 |
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1,499 |
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1,202 |
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Total |
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$ |
5,540 |
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$ |
10,218 |
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$ |
10,699 |
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$ |
21,870 |
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Weighted average interest rate |
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5.52 |
% |
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6.20 |
% |
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5.56 |
% |
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6.25 |
% |
Weighted average effective interest rate |
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6.92 |
% |
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6.65 |
% |
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6.75 |
% |
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6.64 |
% |
Weighted average outstanding balance |
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$ |
253,557 |
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$ |
560,037 |
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$ |
250,406 |
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$ |
612,212 |
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The summary information of 2027 Notes is as follows:
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For the Three Months Ended |
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For the Six Months Ended |
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June 30, 2026 |
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June 30, 2025 |
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June 30, 2026 |
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June 30, 2025 |
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Borrowing interest expense |
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$ |
4,781 |
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$ |
4,781 |
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$ |
9,563 |
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$ |
9,563 |
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Accretion of original issuance discount |
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53 |
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53 |
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106 |
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106 |
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Amortization of debt issuance cost |
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414 |
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283 |
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642 |
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560 |
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Total |
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$ |
5,248 |
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$ |
5,117 |
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$ |
10,311 |
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$ |
10,229 |
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Stated interest rate |
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4.50 |
% |
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4.50 |
% |
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4.50 |
% |
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4.50 |
% |
Weighted average effective interest rate |
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4.89 |
% |
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4.77 |
% |
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4.83 |
% |
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4.76 |
% |
The summary information of 2025 Notes is as follows:
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For the Three Months Ended |
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For the Six Months Ended |
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June 30, 2026 |
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June 30, 2025 |
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June 30, 2026 |
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June 30, 2025 |
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Borrowing interest expense |
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$ |
— |
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$ |
4,326 |
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$ |
— |
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$ |
9,516 |
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Amortization of debt issuance costs |
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— |
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303 |
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— |
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|
605 |
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Total |
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$ |
— |
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$ |
4,629 |
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$ |
— |
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$ |
10,121 |
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Stated interest rate |
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— |
% |
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7.55 |
% |
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— |
% |
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7.55 |
% |
Weighted average effective interest rate |
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— |
% |
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7.97 |
% |
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— |
% |
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7.98 |
% |
The summary information of 2029 Notes is as follows:
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For the Three Months Ended |
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For the Six Months Ended |
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June 30, 2026 |
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June 30, 2025 |
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June 30, 2026 |
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June 30, 2025 |
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Borrowing interest expense |
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$ |
5,097 |
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$ |
5,567 |
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$ |
10,230 |
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$ |
10,949 |
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Accretion of original issuance discount |
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194 |
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194 |
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385 |
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385 |
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Net change in unrealized (appreciation) depreciation on effective interest rate swaps and hedged items |
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44 |
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(27 |
) |
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(41 |
) |
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(51 |
) |
Amortization of debt issuance costs |
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195 |
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259 |
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|
388 |
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|
574 |
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Total |
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$ |
5,530 |
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$ |
5,993 |
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$ |
10,962 |
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$ |
11,857 |
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Stated interest rate |
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6.15 |
% |
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6.15 |
% |
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6.15 |
% |
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6.15 |
% |
Weighted average effective interest rate |
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6.20 |
% |
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6.88 |
% |
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6.25 |
% |
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6.80 |
% |
The summary information of 2030 Notes is as follows:
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For the Three Months Ended |
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For the Six Months Ended |
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June 30, 2026 |
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June 30, 2025 |
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June 30, 2026 |
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June 30, 2025 |
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Borrowing interest expense |
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$ |
5,253 |
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$ |
2,450 |
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$ |
10,419 |
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$ |
2,450 |
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Accretion of original issuance discount |
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|
187 |
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|
88 |
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|
372 |
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|
88 |
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Net change in unrealized (appreciation) depreciation on effective interest rate swaps and hedged items |
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31 |
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(9 |
) |
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7 |
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(9 |
) |
Amortization of debt issuance costs |
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226 |
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|
93 |
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|
446 |
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|
93 |
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Total |
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$ |
5,697 |
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$ |
2,622 |
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$ |
11,244 |
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$ |
2,622 |
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Stated interest rate |
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6.00 |
% |
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6.00 |
% |
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6.00 |
% |
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6.00 |
% |
Weighted average effective interest rate |
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6.40 |
% |
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6.44 |
% |
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|
6.39 |
% |
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|
6.44 |
% |
The summary information of the CLO 2025-1 Issued Debt is as follows:
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For the Three Months Ended |
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For the Six Months Ended |
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June 30, 2026 |
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June 30, 2025 |
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June 30, 2026 |
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June 30, 2025 |
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Borrowing interest expense |
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$ |
4,196 |
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$ |
— |
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$ |
8,217 |
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|
$ |
— |
|
Amortization of debt issuance costs |
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|
63 |
|
|
|
— |
|
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|
125 |
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|
— |
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Total |
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$ |
4,259 |
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$ |
— |
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$ |
8,342 |
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|
$ |
— |
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Stated interest rate |
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5.37 |
% |
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|
— |
% |
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|
5.29 |
% |
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|
— |
% |
Weighted average effective interest rate |
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|
5.45 |
% |
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|
— |
% |
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|
5.37 |
% |
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|
— |
% |
|