Borrowings (Tables)

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

Schedule of Facility Borrowings

The following table represents facility borrowings as of June 30, 2023:

	Maturity Date	Total Aggregate Borrowing Capacity		Total Principal Outstanding		Less Deferred Financing Costs		Amount per Consolidated Statements of Assets and Liabilities
MS Credit Facility	3/15/2025	$	400,000	$	343,500	$	(1,722)	$	341,778
Total		$	400,000	$	343,500	$	(1,722)	$	341,778

The following table represents facility borrowings as of December 31, 2022:

	Maturity Date	Total Aggregate Borrowing Capacity		Total Principal Outstanding		Less Deferred Financing Costs		Amount per Consolidated Statements of Assets and Liabilities
MS Credit Facility	3/15/2025	$	400,000	$	356,500	$	(2,222)	$	354,278
MS Subscription Facility	4/21/2023	25,500		25,400		(98)		25,302
Total		$	425,500	$	381,900	$	(2,320)	$	379,580

Schedule of Interest and Debt Fees

The following table represents interest and debt fees for the three and six months ended June 30, 2023:

	Three Months Ended June 30, 2023									Six Months Ended June 30, 2023
	Interest Rate	Non-Usage Rate		Interest Expense		Deferred Financing Costs (1)		Other Fees (2)		Interest Rate	Non-Usage Rate		Interest Expense		Deferred Financing Costs (1)		Other Fees (2)
MS Credit Facility	(3)	0.50	%	$	6,198	$	252	$	371	(3)	0.50	%	$	12,607	$	500	$	724
MS Subscription Facility (5)	—	—		—		—		—		(4)	0.30	%	404		98		—
Short-term borrowings				806		—		—					1,270		—		—
Totals				$	7,004	$	252	$	371				$	14,281	$	598	$	724

(1) Amortization of deferred financing costs.

(2) Includes non-usage fees, custody fees, and administrative agent fees.

(3) From January 1, 2023 to June 30, 2023, the MS Credit Facility had an interest rate priced at Term SOFR, plus a spread of 2.25%.

(4) From January 1, 2023 to March 29, 2023, the MS Subscription Facility bore interest at a rate of Term SOFR with a one-month Interest Period plus 2.10% per annum.

(5) Amount presented represents activity prior to termination on March 29, 2023.

The following table represents interest and debt fees for the three and six months ended June 30, 2022:

	Three Months Ended June 30, 2022									Six Months Ended June 30, 2022
	Interest Rate	Non-Usage Rate		Interest Expense		Deferred Financing Costs (1)		Other Fees (2)		Interest Rate	Non-Usage Rate		Interest Expense		Deferred Financing Costs (1)		Other Fees (2)
MS Credit Facility	(3)	0.50	%	$	2,001	$	200	$	88	(3)	0.50	%	$	3,370	$	385	$	204
MS Subscription Facility	(4)	0.30	%	399		76		—		(4)	0.30	%	670		133		N/A
Short-term borrowings				445		—		—					692		N/A		N/A
Total				$	2,845	$	276	$	88				$	4,732	$	518	$	204

______________

(1) Amortization of deferred financing costs.

(2) Includes non-usage fees and custody fees.

(3) From January 1, 2022 through January 30, 2022, the MS Credit Facility had an interest rate priced at three-month LIBOR, with a LIBOR floor of zero, plus a spread of 2.25%. From January 31, 2022 through June 27, 2022, the MS Credit Facility transitioned the benchmark rate to Adjusted Term SOFR. Borrowings under the MS Credit Facility bore interest at Adjusted Term SOFR, with an Adjusted Term SOFR floor of zero, plus a spread of 2.25%. From June 28, 2022 to June 30, 2022, the MS Credit Facility had an interest rate priced at Term SOFR, plus a spread of 2.50%.

(4) From January 1, 2022 through April 19, 2022, the MS Subscription Facility bore interest at a rate of Adjusted LIBOR for the applicable interest period plus 2.00% per annum. From April 20, 2022 through June 30, 2022, the MS Subscription Facility bore interest at a rate of Term SOFR with a one-month Interest Period plus 2.10% per annum.

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

The fair values of the Company’s remaining financial instruments that are not reported at fair value on the accompanying consolidated statements of assets and liabilities are reported below:

	Level	Carrying Amount as of June 30, 2023		Fair Value as of June 30, 2023
MS Credit Facility	3	$	343,500	$	343,500
Total		$	343,500	$	343,500

	Level	Carrying Amount as of December 31, 2022		Fair Value as of December 31, 2022
MS Credit Facility	3	$	356,500	$	356,500
MS Subscription Facility	3	25,400		25,400
Total		$	381,900	$	381,900