Secured Debt Arrangements, Net (Tables)

9 Months Ended

Sep. 30, 2018

Weighted Average Maturities and Interest Rates of Borrowings

At September 30, 2018 and December 31, 2017, our borrowings had the following secured debt arrangements, maturities and weighted average interest rates ($ in thousands):



	September 30, 2018 ⁽²⁾						December 31, 2017
	Maximum Amount of Borrowings		Borrowings Outstanding			Maturity ⁽¹⁾	Maximum Amount of Borrowings		Borrowings Outstanding			Maturity ⁽¹⁾	Weighted Average Rate
JPMorgan Facility (USD)	$	1,332,450	$	950,635		June 2021	$	1,393,000	$	944,529		March 2020	USD L + 2.30%
JPMorgan Facility (GBP)	49,550		49,550			June 2021	N/A		N/A			N/A	N/A
DB Repurchase Facility (USD)	900,905		389,525			March 2021	472,090		225,367			March 2020	USD L + 2.56%
DB Repurchase Facility (GBP)	154,095		154,095			March 2021	93,919		93,919			March 2020	GBP L + 2.60%
Goldman Facility	300,000		205,982			November 2020	331,130		81,380			November 2020	USD L + 2.73%
CS Facility (USD)	69,941		69,941			March 2019	N/A		N/A			N/A	N/A
CS Facility (GBP)	143,993		143,993			March 2019	N/A		N/A			N/A	N/A
HSBC Facility (GBP)	49,896		49,896			September 2019	N/A		N/A			N/A	N/A
Sub-total	3,000,830		2,013,617				2,290,139		1,345,195
less: deferred financing costs	N/A		(16,746		)		N/A		(14,348		)		N/A
Total / Weighted Average	$	3,000,830	$	1,996,871			$2,290,139		$1,330,847				USD L + 2.37% /
Total / Weighted Average	$	3,000,830	$	1,996,871			$2,290,139		$1,330,847				GBP L + 2.60%

———————

(1) Maturity date assumes extensions at our option are exercised.

(2) Weighted average rate as of September 30, 2018 was USD L + 2.26% / GBP L + 2.27%.

Remaining Maturities of Borrowings

At September 30, 2018, our borrowings had the following remaining maturities ($ in thousands):



	Less than 1 year⁽¹⁾		1 to 3 years⁽¹⁾		3 to 5 years		More than 5 years		Total
JPMorgan Facility	$	334,884	$	665,301	$	—	$	—	$	1,000,185
DB Repurchase Facility	177,164		366,456		—		—		543,620
Goldman Facility	—		205,982		—		—		205,982
CS Facility - USD	69,941		—		—		—		69,941
CS Facility - GBP	143,993		—		—		—		143,993
HSBC Facility	49,896		—		—		—		49,896
Total	$	775,878	$	1,237,739	$	—	$	—	$	2,013,617

———————

(1) Assumes underlying assets are financed through the fully extended maturity date of the facility.

Schedule of Outstanding, Maximum and Average Balances of Debt

The table below summarizes the outstanding balances at September 30, 2018, as well as the maximum and average month-end balances for the nine months ended September 30, 2018 for our borrowings under secured debt arrangements ($ in thousands).



					For the nine months ended September 30, 2018
	Balance at September 30, 2018		Amortized Cost of collateral at September 30, 2018		Maximum Month-End Balance		Average Month-End Balance
JPMorgan Facility	$	1,000,185	$	1,621,477	$	1,000,854	$	910,138
DB Repurchase Facility	543,620		955,460		707,405		511,259
Goldman Facility	205,982		278,490		236,764		159,010
CS Facility - USD	69,941		99,013		69,941		69,941
CS Facility - GBP	143,993		220,397		145,937		144,540
HSBC Facility	49,896		70,763		49,896		49,896
Total	$	2,013,617	$	3,245,600