v3.26.3
Debt (Tables)
 9 Months Ended
Sep. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Debt Obligations
Debt obligations consisted of the below as of the following periods:
As of September 30, 2026
Aggregate Principal CommittedOutstanding Principal
Unused Portion(3)
Amount Available(1)
Unamortized Debt Issuance Costs
Net Carrying Value
Revolving Credit Facility(2)
$75,000 $— $75,000 $75,000 $(1,203)$(1,203)
SPV Asset Facility I200,000 128,500 71,500 27,161 (1,592)126,908 
Total Debt$275,000 $128,500 $146,500 $102,161 $(2,795)$125,705 
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(1)The amount available reflects any limitations related to each credit facility’s borrowing base.
(2)There were no outstanding borrowings on the Revolving Credit Facility as of September 30, 2026.
(3)The unused portion is the amount upon which commitment fees, if any, are based.
As of December 31, 2025
Aggregate Principal CommittedOutstanding Principal
Unused Portion(3)
Amount Available (1)
Unamortized Debt Issuance Costs
Net Carrying Value
Revolving Credit Facility(2)
$225,000 $11,598 $213,402 $213,402 $(2,314)$9,284 
SPV Asset Facility I375,000 315,000 60,000 59,265 (3,327)311,673 
2026 Notes350,000 350,000 — — (2,150)347,850 
Total Debt$950,000 $676,598 $273,402 $272,667 $(7,791)$668,807 
_______________
(1)The amount available and unused portion reflect any limitations related to each credit facility’s borrowing base.
(2)Net carrying value includes the unrealized translation gain (loss) on borrowings denominated in foreign currencies.
(3)The unused portion is the amount upon which commitment fees, if any, are based.
Schedule of Components of Interest Expense
For the following periods, the components of interest expense were as follows:
For the Three Months Ended September 30,
For the Nine Months Ended September 30,
2026202520262025
Interest expense$2,723 $15,030 $26,832 $47,658 
Amortization of debt issuance costs247 945 6,398 3,125 
Total Interest Expense$2,970 $15,975 $33,230 $50,783 
Average interest rate(1)
6.2 %8.4 %9.3 %8.1 %
Average daily borrowings$174,478 $719,845 $386,368 $788,998 
_______________
(1)Includes the impact of fees on undrawn portions of the Company’s credit facilities for the three and nine months ended September 30, 2026, and 2025.
Schedule of Contractual Payment Obligations Under Credit Facilities and Notes
The table below presents a summary of the Company’s contractual payment obligations under credit facilities and notes as of September 30, 2026:
Payments Due by Period
TotalLess than 1 year1-3 years3-5 yearsAfter 5 years
Revolving Credit Facility$— $— $— $— $— 
SPV Asset Facility I128,500 — — 128,500 — 
Total Contractual Obligations$128,500 $— $— $128,500 $—