| Schedule of Debt Obligations |
The table below presents outstanding debt obligations as of September 30, 2026:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
($ in thousands) |
|
Aggregate
Principal
Committed |
|
|
Outstanding
Principal |
|
|
Amount
Available1 |
|
|
Unamortized
Debt
Issuance
Costs |
|
|
Net
Carrying
Value |
|
Scotiabank Revolving Credit Facility |
|
$ |
500,000 |
|
|
$ |
195,230 |
|
|
$ |
304,770 |
|
|
$ |
(5,602 |
) |
|
$ |
189,628 |
|
BAML ABL Credit Facility |
|
|
300,000 |
|
|
|
163,400 |
|
|
|
136,600 |
|
|
|
(1,152 |
) |
|
|
162,248 |
|
Scotiabank ABL Credit Facility |
|
|
950,000 |
|
|
|
552,472 |
|
|
|
397,528 |
|
|
|
(6,922 |
) |
|
|
545,550 |
|
Total Debt |
|
$ |
1,750,000 |
|
|
$ |
911,102 |
|
|
$ |
838,898 |
|
|
$ |
(13,676 |
) |
|
$ |
897,426 |
|
1The amount available may be subject to limitations related to each credit facility's borrowing base. The table below presents outstanding debt obligations as of December 31, 2025:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
($ in thousands) |
|
Aggregate
Principal
Committed |
|
|
Outstanding
Principal |
|
|
Amount
Available1 |
|
|
Unamortized
Debt
Issuance
Costs |
|
|
Net
Carrying
Value |
|
Scotiabank Revolving Credit Facility |
|
$ |
400,000 |
|
|
$ |
211,500 |
|
|
$ |
188,500 |
|
|
$ |
(4,399 |
) |
|
$ |
207,101 |
|
BAML ABL Credit Facility |
|
|
150,000 |
|
|
|
146,700 |
|
|
|
3,300 |
|
|
|
(738 |
) |
|
|
145,962 |
|
Scotiabank ABL Credit Facility |
|
|
600,000 |
|
|
|
299,286 |
|
|
|
300,714 |
|
|
|
(4,752 |
) |
|
|
294,534 |
|
Total Debt |
|
$ |
1,150,000 |
|
|
$ |
657,486 |
|
|
$ |
492,514 |
|
|
$ |
(9,889 |
) |
|
$ |
647,597 |
|
1The amount available may be subject to limitations related to each credit facility's borrowing base.
|
| Schedule of Components of Interest Expense |
The table below presents the components of interest expense for all debt obligations for the period presented:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the three months ended |
|
|
For the nine months ended |
|
|
($ in thousands) |
|
September 30, 2026 |
|
|
September 30, 2025 |
|
|
September 30, 2026 |
|
|
September 30, 2025 |
|
|
Interest expense |
|
$ |
13,312 |
|
|
$ |
2,702 |
|
|
$ |
34,118 |
|
|
$ |
4,629 |
|
|
Amortization of debt issuance costs |
|
|
640 |
|
|
|
118 |
|
|
|
1,634 |
|
|
|
631 |
|
|
Total Interest Expense |
|
$ |
13,952 |
|
|
$ |
2,820 |
|
|
$ |
35,752 |
|
|
$ |
5,260 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average interest rate1 |
|
|
5.5 |
% |
|
|
6.9 |
% |
|
|
5.5 |
% |
|
|
6.8 |
% |
|
Weighted average daily outstanding borrowings |
|
$ |
882,928 |
|
|
$ |
139,391 |
|
|
$ |
775,246 |
|
|
$ |
102,507 |
|
|
1Averages are calculated based on annualized amounts. The weighted average interest rate excludes unused commitment fees. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|