Borrowings (Tables)

6 Months Ended

Mar. 31, 2023

Debt Disclosure [Abstract]

Schedule of Debt Securitization

For the three and six months ended March 31, 2023 and 2022 the components of interest expense, cash paid for interest, annualized average interest rates and average outstanding balances for the 2018 Debt Securitization were as follows:

	Three months ended March 31,						Six months ended March 31,
	2023			2022			2023			2022
Stated interest expense	$	6,456		$	1,904		$	12,260		$	3,750
Amortization of debt issuance costs	30			104			143			210
Total interest and other debt financing expenses	$	6,486		$	2,008		$	12,403		$	3,960
Cash paid for interest expense	$	6,134		$	1,846		$	10,669		$	3,694
Annualized average stated interest rate	6.4		%	1.9		%	6.0		%	1.8		%
Average outstanding balance	$	408,200		$	408,200		$	408,200		$	408,200

For the three and six months ended March 31, 2023 and 2022, the components of interest expense, cash paid for interest, annualized average interest rates and average outstanding balances for the GCIC 2018 Debt Securitization were as follows:

	Three months ended March 31,						Six months ended March 31,
	2023			2022			2023			2022
Stated interest expense	$	8,103		$	2,444		$	15,398		$	4,818
Accretion of discounts on notes issued	93			441			544			892
Amortization of debt issuance costs	4			17			21			34
Total interest and other debt financing expenses	$	8,200		$	2,902		$	15,963		$	5,744
Cash paid for interest expense	$	7,705		$	2,368		$	13,420		$	4,739
Annualized average stated interest rate	6.0		%	1.8		%	5.7		%	1.8		%
Average outstanding balance	$	546,500		$	546,500		$	546,500		$	546,500

For the three and six months ended March 31, 2023 and 2022, the components of interest expense, cash paid for interest and facility fees, annualized average interest rates and average outstanding balances for the MS Credit Facility II were as follows:

	Three months ended March 31,					Six months ended March 31,
	2023		2022			2023		2022
Stated interest expense	$	—	$	—		$	—	$	4
Facility fees	—		148			—		188
Amortization of debt issuance costs	—		52			—		106
Total interest and other debt financing expenses	$	—	$	200		$	—	$	298
Cash paid for interest expense and facility fees	$	—	$	150		$	—	$	296
Annualized average stated interest rate	N/A		N/A			N/A		N/A
Average outstanding balance	$	—	$	—	*	$	—	$	—	*

For the three and six months ended March 31, 2023 and 2022, the components of interest expense, cash paid for interest and facility fees, annualized average interest rates and average outstanding balances for the JPM Credit Facility were as follows:

	Three months ended March 31,						Six months ended March 31,
	2023			2022			2023			2022
Stated interest expense	$	9,781		$	2,086		$	18,268		$	3,475
Facility fees	413			742			1,140			1,326
Amortization of debt issuance costs	576			486			1,112			874
Total interest and other debt financing expenses	$	10,770		$	3,314		$	20,520		$	5,675
Cash paid for interest expense and facility fees	$	10,957		$	2,620		$	19,787		$	3,539
Annualized average stated interest rate	5.9		%	2.0		%	5.5		%	2.0		%
Average outstanding balance	$	668,980		$	420,435		$	664,431		$	356,773

For the three and six months ended March 31, 2023 and 2022, the components of interest expense, cash paid for interest and facility fees, annualized average interest rates and average outstanding balances for the 2024 Notes were as follows:

	Three months ended March 31,						Six months ended March 31,
	2023			2022			2023			2022
Stated interest expense	$	4,219		$	4,219		$	8,438		$	8,307
Accretion of discounts and amortization of premiums on notes issued	(341)			(341)			(690)			(633)
Amortization of debt issuance costs	490			480			990			951
Total interest and other debt financing expenses	$	4,368		$	4,358		$	8,738		$	8,625
Cash paid for interest expense	$	—		$	—		$	8,438		$	6,750
Annualized average stated interest rate	3.4		%	3.4		%	3.4		%	3.4		%
Average outstanding balance	$	500,000		$	500,000		$	500,000		$	492,308

For the three and six months ended March 31, 2023 and 2022, the components of interest expense, cash paid for interest and facility fees, annualized average interest rates and average outstanding balances for the 2026 Notes were as follows:

	Three months ended March 31,						Six months ended March 31,
	2023			2022			2023			2022
Stated interest expense	$	3,750		$	3,750		$	7,500		$	7,333
Accretion of discounts on notes issued	131			131			265			254
Amortization of debt issuance costs	368			403			745			794
Total interest and other debt financing expenses	$	4,249		$	4,284		$	8,510		$	8,381
Cash paid for interest expense	$	7,500		$	6,819		$	7,500		$	6,819
Annualized average stated interest rate	2.5		%	2.5		%	2.5		%	2.5		%
Average outstanding balance	$	600,000		$	600,000		$	600,000		$	586,813

For the three and six months ended March 31, 2023 and 2022, the components of interest expense, cash paid for interest and facility fees, annualized average interest rates and average outstanding balances for the 2027 Notes were as follows:

	Three months ended March 31,						Six months ended March 31,
	2023			2022			2023			2022
Stated interest expense	$	1,794		$	1,794		$	3,588		$	3,588
Accretion of discounts on notes issued	180			181			365			366
Amortization of debt issuance costs	209			234			414			474
Total interest and other debt financing expenses	$	2,183		$	2,209		$	4,367		$	4,428
Cash paid for interest expense	$	3,587		$	3,827		$	3,587		$	3,827
Average stated interest rate	2.1		%	2.1		%	2.1		%	2.1		%
Average outstanding balance	$	350,000		$	350,000		$	350,000		$	350,000

For the three and six months ended March 31, 2023 and 2022, the components of interest expense, cash paid for interest, annualized average interest rates and average outstanding balances for the Adviser Revolver were as follows:

	Three months ended March 31,				Six months ended March 31,
	2023		2022		2023		2022
Stated interest expense	$	—	$	—	$	—	$	—
Cash paid for interest expense	—		—		—		—
Annualized average stated interest rate	N/A		N/A		N/A		N/A
Average outstanding balance	$	—	$	—	$	—	$	—

Interest Rate and Interest Differential Analysis

As of March 31, 2023, the classes, amounts, ratings and interest rates (expressed as a spread to three-month LIBOR) of the Class A, B and C-1 2018 Notes are as follows:

Description	Class A 2018 Notes	Class B 2018 Notes	Class C-1 2018 Notes
Type	Senior Secured Floating Rate	Senior Secured Floating Rate	Senior Secured Floating Rate
Amount Outstanding	$327,000	$61,200	$20,000
Fitch Rating	“AAA”	“NR”	“NR”
S&P Rating	“AAA”	“AA”	“A”
Interest Rate	LIBOR + 1.48%	LIBOR + 2.10%	LIBOR + 2.80%

As of March 31, 2023, the classes, amounts, ratings and interest rates (expressed as a spread to three-month LIBOR, as applicable) of the Class A-1 GCIC 2018 Notes, Class A-2 GCIC 2018 Notes, and Class B-1 GCIC 2018 Notes were as follows:

Description	Class A-1 GCIC 2018 Notes	Class A-2-R GCIC 2018 Notes	Class B-1 GCIC 2018 Notes
Type	Senior Secured Floating Rate	Senior Secured Fixed Rate	Senior Secured Floating Rate
Amount Outstanding	$490,000	$38,500	$18,000
Fitch’s Rating	"AAA"	"NR"	"NR"
S&P Rating	"AAA"	"AAA"	"AA"
Interest Rate	LIBOR + 1.48%	2.50%	LIBOR + 2.25%

Schedule of Maturities of Long-Term Debt

A summary of the Company’s maturity requirements for borrowings as of March 31, 2023 is as follows:

	Payments Due by Period
	Total		Less Than 1 Year		1 – 3 Years		3 – 5 Years		More Than 5 Years
2018 Debt Securitization	$	408,200	$	—	$	—	$	—	$	408,200
2018 GCIC Debt Securitization	546,500		—		—		—		546,500
JPM Credit Facility	715,362		—		37,500		677,862		—
2024 Notes(1)	501,441		—		501,441		—		—
2026 Notes(1)	598,195		—		—		598,195		—
2027 Notes(1)	347,159		—		—		347,159		—
Total borrowings	$	3,116,857	$	—	$	538,941	$	1,623,216	$	954,700

(1) Represents principal outstanding plus unamortized premium and / or unaccreted original issue discount.