| Schedule of Outstanding Debt Obligations |
The Company’s outstanding debt obligations as of June 30, 2026 were as follows:
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Date
Issued/
Amended |
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Total
Aggregate
Principal
Amount
Committed |
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Principal
Amount
Outstanding |
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Carrying
Value |
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Fair
Value (2) |
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Unused
Portion(1) |
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Final
Maturity
Date |
AOP II Maple Credit Facility |
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05/19/2026 |
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$ |
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500,000 |
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$ |
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341,097 |
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$ |
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341,708 |
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$ |
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341,708 |
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$ |
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158,903 |
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07/23/2029 |
AOP II Jasmine Credit Facility |
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04/25/2025 |
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550,000 |
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482,898 |
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482,898 |
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482,898 |
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67,102 |
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11/14/2028 |
Total Debt Obligations |
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$ |
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1,050,000 |
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$ |
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823,995 |
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$ |
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824,606 |
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$ |
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824,606 |
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$ |
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226,005 |
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Deferred Financing Costs |
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(3,802 |
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Total Debt Obligations, net of Deferred Financing Cost |
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$ |
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820,804 |
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(1)The unused portion is the amount upon which commitment fees, if any, are based. (2)The fair value of these debt obligations would be categorized as Level 3 under ASC 820 as of June 30, 2026. The Company’s outstanding debt obligations as of December 31, 2025 were as follows:
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Date
Issued/
Amended |
|
Total
Aggregate
Principal
Amount
Committed |
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Principal
Amount
Outstanding |
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Carrying
Value |
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Fair
Value (2) |
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Unused
Portion(1) |
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Final
Maturity
Date |
AOP II Maple Credit Facility |
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07/08/2025 |
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$ |
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500,000 |
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$ |
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325,900 |
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$ |
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325,900 |
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$ |
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325,900 |
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$ |
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174,100 |
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07/23/2029 |
AOP II Jasmine Credit Facility |
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04/25/2025 |
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550,000 |
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489,898 |
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489,898 |
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489,898 |
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60,102 |
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11/14/2028 |
Total Debt Obligations |
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$ |
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1,050,000 |
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$ |
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815,798 |
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$ |
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815,798 |
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$ |
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815,798 |
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$ |
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234,202 |
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Deferred Financing Costs |
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(4,549 |
) |
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Total Debt Obligations, net of Deferred Financing Cost |
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$ |
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811,249 |
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(1)The unused portion is the amount upon which commitment fees, if any, are based. (2)The fair value of these debt obligations would be categorized as Level 3 under ASC 820 as of December 31, 2025.
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| Summary of Average and Maximum Debt Outstanding, Interest and Debt Issuance Cost |
The following table summarizes the average and maximum debt outstanding, and the interest and debt issuance cost for the three and six months ended June 30, 2026 and 2025:
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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Average debt outstanding |
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$ |
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805,871 |
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$ |
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596,991 |
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$ |
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805,764 |
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$ |
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557,906 |
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Maximum amount of debt outstanding |
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854,606 |
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621,998 |
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854,606 |
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621,998 |
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Weighted average annualized interest cost (1) |
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6.19 |
% |
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6.96 |
% |
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6.01 |
% |
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7.36 |
% |
Annualized amortized debt issuance cost |
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0.18 |
% |
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0.25 |
% |
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0.18 |
% |
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0.25 |
% |
Total annualized interest cost |
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6.37 |
% |
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7.21 |
% |
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6.19 |
% |
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7.61 |
% |
(1)Includes the stated interest expense and commitment fees on the unused portion of the Facility. Commitment fees for the three and six months ended June 30, 2026 were $399 and $779, respectively. Commitment fees for the three and six months ended June 30, 2025 were $156 and $289, respectively.
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| Summary of component of interest expense |
The components of interest expense for the three and six months ended June 30, 2026 and 2025 were as follows:
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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Borrowing interest expense |
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$ |
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12,213 |
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$ |
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10,345 |
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$ |
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23,581 |
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$ |
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18,536 |
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Facility unused fees |
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399 |
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156 |
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779 |
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289 |
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Amortization of debt issuance costs |
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373 |
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371 |
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746 |
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645 |
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Total interest expense |
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$ |
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12,985 |
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$ |
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10,872 |
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$ |
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25,106 |
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$ |
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19,470 |
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