Term Loans, Net (Tables)

6 Months Ended

Jun. 30, 2022

Debt Disclosure [Abstract]

Schedule of Debt

The following table details our secured credit facilities by spread over the applicable base rates as of June 30, 2022 ($ in thousands):

June 30, 2022
									Recourse Limitation
Currency	Lenders(1)	Borrowings		Wtd Avg. Maturity(2)	Loan Count	Collateral(3)		Wtd Avg. Maturity(4)	Wtd. Avg.	Range
USD	14	$	8,101,964	2/8/2026	142	$	11,873,368	2/8/2026	34%	25% - 100%
EUR	6	2,119,463		7/9/2025	10	2,818,786		7/17/2025	45%	25% - 100%
GBP	6	2,057,777		1/15/2026	18	2,698,806		1/17/2026	26%	25% - 50%
Others(5)	4	1,653,232		5/23/2027	8	2,094,593		5/8/2027	25%	25%
Total	14	$	13,932,436	2/27/2026	177	$	19,485,553	2/24/2026	34%	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 Australian Dollar, Canadian Dollar, Danish Krone, Swedish Krona, and Swiss Franc currencies.

As of June 30, 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	$	925,121	+ 2.25	%	+ 2.53	%	April 23, 2026
B-3 Term Loan	$	417,280	+ 2.75	%	+ 3.42	%	April 23, 2026
B-4 Term Loan	$	500,000	+ 3.50	%	+ 3.98	%	May 9, 2029

(1)The B-3 Term Loan and the B-4 Term Loan borrowings are subject to a 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):

	June 30, 2022		December 31, 2021
Face value	$	1,842,401	$	1,349,271
Unamortized discount	(15,494)		(9,209)
Deferred financing costs	(16,965)		(12,656)
Net book value	$	1,809,942	$	1,327,406

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

	June 30, 2022		December 31, 2021
Face value	$	520,000	$	622,500
Unamortized discount	(6,950)		(2,472)
Deferred financing costs	(56)		(152)
Net book value	$	512,994	$	619,876