Term Loans, Net (Tables)

3 Months Ended

Mar. 31, 2022

Debt Disclosure [Abstract]

Schedule of Debt

The following table details our secured credit facilities by spread over the applicable base rates as of March 31, 2022 ($ in thousands):

March 31, 2022
									Recourse Limitation
Currency	Lenders(1)	Borrowings		Wtd Avg. Maturity(2)	Loan Count	Collateral(3)		Wtd Avg. Maturity(4)	Wtd. Avg.	Range
USD	14	$	7,961,788	12/13/2025	153	$	11,890,070	2/5/2026	35%	25% - 100%
EUR	6	2,288,852		7/6/2025	10	3,060,991		7/13/2025	46%	25% - 100%
GBP	6	1,901,230		10/16/2025	17	2,511,880		11/5/2025	26%	25% - 50%
Others(5)	4	965,379		6/2/2025	7	1,247,765		7/24/2025	25%	25%
Total	14	$	13,117,249	10/23/2025	185	$	18,710,706	12/8/2025	35%	25% - 100%

(1)Represents the number of lenders with fundings advanced in each respective currency, as well as the total number of facility lenders.

(2)Based on the earlier of (i) the maximum maturity date of each secured credit facility, or (ii) the maximum maturity date of the collateral loans.

(3)Represents the principal balance of the collateral assets.

(4)Maximum maturity assumes all extension options are exercised by the borrower, however our loans may be repaid prior to such date.

(5)Includes Swedish Krona, Australian Dollar, Canadian Dollar, Swiss Franc, and Danish Krone currencies.

As of March 31, 2022, the following senior term loan facilities, or Term Loans, were outstanding ($ in thousands):

Term Loans	Face Value		Interest Rate(1)		All-in Cost(1)(2)		Maturity
B-1 Term Loan	$	927,500	+ 2.25	%	+ 2.53	%	April 23, 2026
B-2 Term Loan	$	418,337	+ 2.75	%	+ 3.42	%	April 23, 2026

(1)The B-2 Term Loan borrowing is subject to a LIBOR floor of 0.50%.

(2)Includes issue discount and transaction expenses that are amortized through interest expense over the life of the Term Loans.

Schedule of Net Book Value of Term Loans on Consolidated Balance Sheets

The following table details the net book value of our Term Loans on our consolidated balance sheets ($ in thousands):

	March 31, 2022		December 31, 2021
Face value	$	1,345,837	$	1,349,271
Unamortized discount	(8,683)		(9,209)
Deferred financing costs	(11,932)		(12,656)
Net book value	$	1,325,222	$	1,327,406

The following table details the net book value of our Convertible Notes on our consolidated balance sheets ($ in thousands):

	March 31, 2022		December 31, 2021
Face value	$	857,850	$	622,500
Unamortized discount	(7,679)		(2,472)
Deferred financing costs	(87)		(152)
Net book value	$	850,084	$	619,876