Schedule of debt obligations credit facility |
Debt obligations under the
BoA Credit Facility consisted of the following as of June 30, 2023
| |
June 30, 2023 | |
| |
Aggregate Principal Committed | | |
Outstanding Principal | | |
Amount Available(1) | | |
Net Carrying Value(2) | |
BoA Credit Facility | |
$ | 725,000,000 | | |
$ | 490,000,000 | | |
$ | 235,000,000 | | |
$ | 491,619,131 | |
Total debt | |
$ | 725,000,000 | | |
$ | 490,000,000 | | |
$ | 235,000,000 | | |
$ | 491,619,131 | |
| (1) | The
amount available reflects any limitations related to the BoA Credit Facility’s borrowing base. |
| (2) | The
carrying value of the BoA Credit Facility is presented net of deferred financing costs of $1.063 million and accrued interest of $2.683
million. |
| |
December 31, 2022 | |
| |
Aggregate Principal Committed | | |
Outstanding Principal | | |
Amount Available(1) | | |
Net Carrying Value(2) | |
BoA Credit Facility | |
$ | 725,000,000 | | |
$ | 514,500,000 | | |
$ | 210,500,000 | | |
$ | 513,726,164 | |
Total debt | |
$ | 725,000,000 | | |
$ | 514,500,000 | | |
$ | 210,500,000 | | |
$ | 513,726,164 | |
(1) | The amount available reflects any limitations related to the BoA Credit Facility’s borrowing base. | (2) | The carrying value of the BoA Credit Facility is presented net of deferred financing costs of $1.358 million and accrued interest of $584 thousand. |
| |
June 30, 2023 | |
| |
Aggregate Principal Committed | | |
Outstanding Principal | | |
Amount
Available(1) | | |
Net
Carrying Value(2) | |
WF Credit Facility | |
$ | 150,000,000 | | |
$ | 134,250,000 | | |
$ | 15,750,000 | | |
$ | 135,746,351 | |
Total debt | |
$ | 150,000,000 | | |
$ | 134,250,000 | | |
$ | 15,750,000 | | |
$ | 135,746,351 | |
| (1) | The amount available reflects any limitations related to the WF Credit Facility’s borrowing base. |
| (2) | The carrying value of the WF Credit Facility is presented net of deferred financing costs of $872 thousand and accrued interest of $2.368 million. |
| |
December 31, 2022 | |
| |
Aggregate
Principal
Committed | | |
Outstanding Principal | | |
Amount
Available(1) | | |
Net
Carrying Value(2) | |
WF Credit Facility | |
$ | 150,000,000 | | |
$ | 126,750,000 | | |
$ | 23,250,000 | | |
$ | 127,583,253 | |
Total debt | |
$ | 150,000,000 | | |
$ | 126,750,000 | | |
$ | 23,250,000 | | |
$ | 127,583,253 | |
| (1) | The amount available reflects any limitations related to the WF Credit Facility’s borrowing base. |
| (2) | The carrying value of the WF Credit Facility is presented net of deferred financing costs of $1.047 million and accrued interest of $1.880 million. |
|
Schedule of interest expense |
For the three and six months
ended June 30, 2023 and June 30, 2022, the components of interest expense with respect to the BoA Credit Facility were as follows
| |
For the Three Months Ended
June
30 | | |
For the Six Months Ended
June 30 | |
| |
2023 | | |
2022 | | |
2023 | | |
2022 | |
| |
| | |
| | |
| | |
| |
Interest expense | |
$ | 8,257,485 | | |
$ | 3,140,658 | | |
$ | 16,110,649 | | |
$ | 5,384,937 | |
Amortization of debt issuance costs | |
| 161,353 | | |
| 158,398 | | |
| 319,296 | | |
| 315,055 | |
Total interest expense | |
$ | 8,418,838 | | |
$ | 3,299,056 | | |
$ | 16,429,945 | | |
$ | 5,699,992 | |
Average interest rate | |
| 6.40 | % | |
| 2.06 | % | |
| 6.14 | % | |
| 1.76 | % |
| |
For the Three Months Ended
June 30 | | |
For the Six Months Ended
June 30 | |
| |
2023 | | |
2022 | | |
2023 | | |
2022 | |
| |
| | |
| | |
| | |
| |
Interest expense | |
$ | 2,368,060 | | |
$ | 1,041,192 | | |
$ | 4,592,062 | | |
$ | 1,704,248 | |
Amortization of debt issuance costs | |
| 87,986 | | |
| 87,986 | | |
| 175,006 | | |
| 175,006 | |
Total interest expense | |
$ | 2,456,046 | | |
$ | 1,129,178 | | |
$ | 4,767,068 | | |
$ | 1,879,254 | |
Average interest rate | |
| 7.15 | % | |
| 3.07 | | |
| 6.92 | % | |
| 2.70 | % |
|