| Summary of Repurchase Facilities and Revolving Credit Facility Borrowings Activity |
The table below summarizes the Company’s Repurchase Facilities and Revolving Credit Facility borrowings as of June 30, 2026 ($ in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Principal Outstanding Balance
as of June 30, 2026 |
|
|
Maximum Facility Size |
|
|
Weighted Average Interest Rate |
|
|
Maturity Date |
Repurchase Facilities: |
|
|
|
|
|
|
|
|
|
|
|
GS Seller I Repurchase Facility |
|
$ |
974,707 |
|
|
$ |
1,118,415 |
|
|
|
5.95 |
% |
|
8/16/2027 |
GS Seller II Repurchase Facility |
|
|
57,180 |
|
|
|
57,180 |
|
|
|
5.74 |
% |
|
8/16/2027 |
GS Seller III Repurchase Facility |
|
|
124,405 |
|
|
|
124,405 |
|
|
|
5.66 |
% |
|
8/16/2027 |
Atlas Repurchase Facility |
|
|
339,470 |
|
|
|
450,000 |
|
|
|
5.87 |
% |
|
10/11/2027 |
Morgan Stanley Repurchase Facility |
|
|
422,724 |
|
|
|
500,000 |
|
|
|
5.38 |
% |
|
7/24/2029 |
NS Seller I Repurchase Facility |
|
|
— |
|
|
|
200,000 |
|
|
|
— |
% |
|
11/21/2027 |
Santander Repurchase Facility |
|
|
117,066 |
|
|
|
350,000 |
|
|
|
5.18 |
% |
|
4/8/2029 |
Total Repurchase Facilities |
|
|
2,035,552 |
|
|
|
2,800,000 |
|
|
|
|
|
|
Deferred Financing Costs, net |
|
|
(5,418 |
) |
|
|
|
|
|
|
|
|
Total Repurchase Facilities, net |
|
|
2,030,134 |
|
|
|
|
|
|
|
|
|
Revolving Credit Facility: |
|
|
|
|
|
|
|
|
|
|
|
JPM Revolving Credit Facility |
|
|
314,271 |
|
|
|
400,000 |
|
|
|
5.39 |
% |
|
10/15/2028 |
Deferred Financing Costs, net |
|
|
(82 |
) |
|
|
|
|
|
|
|
|
Revolving Credit Facility, net |
|
|
314,189 |
|
|
|
|
|
|
|
|
|
Total |
|
$ |
2,344,323 |
|
|
$ |
3,200,000 |
|
|
|
|
|
|
The table below summarizes the Company’s Repurchase Facilities and Revolving Credit Facility borrowings as of December 31, 2025 ($ in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Principal Outstanding Balance
as of December 31, 2025 |
|
|
Maximum Facility Size |
|
|
Weighted Average Interest Rate |
|
|
Maturity Date |
Repurchase Facilities: |
|
|
|
|
|
|
|
|
|
|
|
GS Seller I Repurchase Facility |
|
$ |
784,949 |
|
|
$ |
859,027 |
|
|
|
6.23 |
% |
|
8/16/2027 |
GS Seller II Repurchase Facility |
|
|
57,180 |
|
|
|
57,180 |
|
|
|
6.07 |
% |
|
8/16/2027 |
GS Seller III Repurchase Facility |
|
|
83,793 |
|
|
|
83,793 |
|
|
|
6.20 |
% |
|
8/16/2027 |
Atlas Repurchase Facility |
|
|
264,653 |
|
|
|
300,000 |
|
|
|
6.19 |
% |
|
10/11/2027 |
Morgan Stanley Repurchase Facility |
|
|
202,350 |
|
|
|
250,000 |
|
|
|
5.62 |
% |
|
7/24/2029 |
NS Seller I Repurchase Facility |
|
|
— |
|
|
|
200,000 |
|
|
|
— |
% |
|
11/21/2027 |
Total Repurchase Facilities |
|
|
1,392,925 |
|
|
|
1,750,000 |
|
|
|
|
|
|
Deferred Financing Costs, net |
|
|
(5,946 |
) |
|
|
|
|
|
|
|
|
Total Repurchase Facilities, net |
|
|
1,386,979 |
|
|
|
|
|
|
|
|
|
Revolving Credit Facility: |
|
|
|
|
|
|
|
|
|
|
|
JPM Revolving Credit Facility |
|
|
295,207 |
|
|
|
400,000 |
|
|
|
6.11 |
% |
|
5/8/2027 |
Deferred Financing Costs, net |
|
|
(129 |
) |
|
|
|
|
|
|
|
|
Revolving Credit Facility, net |
|
|
295,078 |
|
|
|
|
|
|
|
|
|
Total |
|
$ |
1,682,057 |
|
|
$ |
2,150,000 |
|
|
|
|
|
|
|
| Maturity of Outstanding Borrowings |
The table below shows the aggregate amount of maturities of our outstanding borrowings over the next five years and thereafter as of June 30, 2026 ($ in thousands):
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|
Year |
|
Repurchase Facilities |
|
|
Revolving Credit Facility |
|
2026 (Remaining) |
|
$ |
— |
|
|
$ |
— |
|
2027 |
|
|
1,495,762 |
|
|
|
— |
|
2028 |
|
|
— |
|
|
|
314,271 |
|
2029 |
|
|
539,790 |
|
|
|
— |
|
2030 |
|
|
— |
|
|
|
— |
|
2031 |
|
|
— |
|
|
|
— |
|
Thereafter |
|
|
— |
|
|
|
— |
|
Total |
|
$ |
2,035,552 |
|
|
$ |
314,271 |
|
|