Schedule of Long-Term Debt Instruments |
The Company’s debt obligations were as follows. | | | | | | | | | | | | | | | | | | | | | | | | | September 30, 2024 | | December 31, 2023 | | Aggregate Principal Committed | Outstanding Principal | Unused Portion | | Aggregate Principal Committed | Outstanding Principal | Unused Portion | BNP Funding Facility | $ | 600,000 | | $ | 246,000 | | $ | 354,000 | | | $ | 600,000 | | $ | 282,000 | | $ | 318,000 | | Truist Credit Facility(1) | 1,300,000 | | 545,987 | | 748,735 | | | 1,120,000 | | 520,263 | | 599,484 | | 2027 Notes(2) | 425,000 | | 425,000 | | — | | | 425,000 | | 425,000 | | — | | 2025 Notes(2) | 275,000 | | 275,000 | | — | | | 275,000 | | 275,000 | | — | | 2029 Notes(2) | 350,000 | | 350,000 | | — | | | — | | — | | — | | Total | $ | 2,950,000 | | $ | 1,841,987 | | $ | 1,102,735 | | | $ | 2,420,000 | | $ | 1,502,263 | | $ | 917,484 | |
(1)As of September 30, 2024 and December 31, 2023, a letter of credit of $5,278 and $253, respectively, was outstanding, which reduced the unused availability under the Truist Credit Facility by the same amount. Under the Truist Credit Facility, the Company may borrow in U.S. dollars or certain other permitted currencies. As of September 30, 2024 and December 31, 2023, the Company had borrowings denominated in Euros (EUR) of 238 and 238, respectively and Canadian dollars (CAD) of 300 and 0, respectively. (2)As of September 30, 2024, the carrying value of the Company’s 2027 Notes, 2025 Notes and 2029 Notes were presented net of unamortized debt issuance costs of $2,657, $1,155 and $3,608 and unamortized original issuance discount of $506, $0 and $3,594, respectively. As of December 31, 2023, the carrying value of the Company’s 2027 Notes, 2025 Notes and 2029 Notes were presented net of unamortized debt issuance costs of $3,499, $2,065 $0, and unamortized original issuance discount of $667, $0 and $0, respectively. The Company's summary information of its debt obligations were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the Three Months Ended | | For the Nine Months Ended | | | September 30, 2024 | | September 30, 2023 | | September 30, 2024 | | September 30, 2023 | Combined weighted average interest rate (1) | | 6.45 | % | | 6.64 | % | | 6.56 | % | | 6.45 | % | Combined weighted average effective interest rate (2) | | 6.89 | % | | 6.99 | % | | 7.00 | % | | 6.78 | % | Combined weighted average debt outstanding | | $ | 1,799,879 | | | $ | 1,619,670 | | $ | 1,614,402 | | | $ | 1,591,671 |
(1) Excludes unused commitment fees, amortization of financing costs, accretion of original issue discount and net change in unrealized (appreciation) depreciation on effective interest rate swaps and hedged items. (2) Excludes unused commitment fees and and net change in unrealized (appreciation) depreciation on effective interest rate swaps and hedged items. The summary information of the BNP Funding Facility is as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the Three Months Ended | | For the Nine Months Ended | | | September 30, 2024 | | September 30, 2023 | | September 30, 2024 | | September 30, 2023 | Borrowing interest expense | | $ | 4,137 | | | $ | 6,904 | | | $ | 15,382 | | | $ | 20,862 | | Facility unused commitment fees | | 736 | | | 209 | | | 1,523 | | | 455 | | Amortization of deferred financing costs | | 346 | | | 297 | | | 1,173 | | | 840 | | Total | | $ | 5,219 | | | $ | 7,410 | | | $ | 18,078 | | | $ | 22,157 | | Weighted average interest rate | | 7.90 | % | | 7.77 | % | | 8.10 | % | | 7.34 | % | Weighted average outstanding balance | | $ | 204,957 | | | $ | 347,446 | | | $ | 249,387 | | | $ | 374,927 | |
The summary information of the Truist Credit Facility is as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the Three Months Ended | | For the Nine Months Ended | | | September 30, 2024 | | September 30, 2023 | | September 30, 2024 | | September 30, 2023 | Borrowing interest expense | | $ | 10,182 | | | $ | 10,613 | | | $ | 27,342 | | | $ | 27,086 | | Facility unused commitment fees | | 741 | | | 531 | | | 2,156 | | | 1,723 | | Amortization of deferred financing costs | | 524 | | | 518 | | | 1,553 | | | 1,473 | | Total | | $ | 11,447 | | | $ | 11,662 | | | $ | 31,051 | | | $ | 30,282 | | Weighted average interest rate | | 7.31 | % | | 7.26 | % | | 7.33 | % | | 6.91 | % | Weighted average outstanding balance | | $ | 544,923 | | | $ | 572,225 | | | $ | 490,015 | | | $ | 516,745 | |
The summary information of 2027 Notes is as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the Three Months Ended | | For the Nine Months Ended | | | September 30, 2024 | | September 30, 2023 | | September 30, 2024 | | September 30, 2023 | Borrowing interest expense | | $ | 4,781 | | | $ | 4,781 | | | $ | 14,344 | | | $ | 14,344 | | Accretion of original issuance discount | | 53 | | | 54 | | | 159 | | | 160 | | Amortization of debt issuance costs | | 283 | | | 283 | | | 851 | | | 839 | | Total | | $ | 5,117 | | | $ | 5,118 | | | $ | 15,354 | | | $ | 15,343 | | Stated interest rate | | 4.50 | % | | 4.50 | % | | 4.50 | % | | 4.50 | % |
The summary information of 2025 Notes is as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the Three Months Ended | | For the Nine Months Ended | | | September 30, 2024 | | September 30, 2023 | | September 30, 2024 | | September 30, 2023 | Borrowing interest expense | | $ | 5,191 | | | $ | 5,191 | | | $ | 15,572 | | | $ | 15,572 | | | | | | | | | | | Amortization of debt issuance costs | | 305 | | | 305 | | | 910 | | | 906 | | Total | | $ | 5,496 | | | $ | 5,496 | | | $ | 16,482 | | | $ | 16,478 | | Stated interest rate | | 7.55 | % | | 7.55 | % | | 7.55 | % | | 7.55 | % |
The summary information of 2029 Notes is as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the Three Months Ended | | For the Nine Months Ended | | | September 30, 2024 | | September 30, 2023 | | September 30, 2024 | | September 30, 2023 | Borrowing interest expense | | $ | 5,381 | | | $ | — | | | $ | 8,012 | | | $ | — | | Accretion of original issuance discount | | 197 | | | — | | | 293 | | | — | | Net change in unrealized (appreciation) depreciation on effective interest rate swaps and hedged items | | (26) | | | — | | | (33) | | | — | | Amortization of debt issuance costs | | 322 | | | — | | | 480 | | | — | | Total | | $ | 5,874 | | | $ | — | | | $ | 8,752 | | | $ | — | | Stated interest rate | | 6.15 | % | | — | % | | 6.15 | % | | — | % |
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