Borrowings (Tables)

6 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Schedule of Facility Borrowings

The following table represents borrowings as of June 30, 2024:

	Maturity Date	Total Aggregate Borrowing Capacity		Total Principal Outstanding		Less Deferred Financing Costs		Amount per Consolidated Statements of Assets and Liabilities
JPM Credit Facility	10/4/2027	$	400,000	$	300,000	$	(1,806)	$	298,194
Wells Fargo Credit Facility	8/25/2028	300,000		225,000		—		225,000
FBLC JPM Credit Facility	9/15/2027	400,000		320,000		—		320,000
JPM Revolver Facility	12/8/2028	505,000		43,590		—		43,590
2024 Notes	12/15/2024	100,000		100,000		—		100,000
2026 Notes	3/30/2026	300,000		300,000		—		300,000
2029 Notes	6/15/2029	300,000		296,822		(4,291)		292,531
Total		$	2,305,000	$	1,585,412	$	(6,097)	$	1,579,315

The following table represents borrowings as of December 31, 2023:

	Maturity Date	Total Aggregate Borrowing Capacity		Total Principal Outstanding		Less Deferred Financing Costs		Amount per Consolidated Statements of Assets and Liabilities
JPM Credit Facility	10/4/2027	$	400,000	$	322,000	$	(2,082)	$	319,918
Total		$	400,000	$	322,000	$	(2,082)	$	319,918

Schedule of Interest and Debt Fees

The following table represents interest and debt fees for the three and six months ended June 30, 2024:

	Three Months Ended June 30, 2024								Six Months Ended June 30, 2024
	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)
JPM Credit Facility	S + 2.75%	0.75%	$	5,975	$	138	$	382	S + 2.75%	0.75%	$	12,350	$	276	$	705
Wells Fargo Credit Facility	(3)	(4)	4,601		—		127		(3)	(4)	8,082		—		209
FBLC JPM Credit Facility	(5)	(6)	6,392		—		360		(5)	(6)	11,195				591
JPM Revolver Facility	(7)	0.38%	2,252		—		361		(7)	0.38%	6,102		—		535
2024 Notes	4.85%	n/a	1,213		—		10		4.85%	n/a	2,129		—		10
2026 Notes	3.25%	n/a	2,438		—		10		3.25%	n/a	4,327		—		10
2029 Notes	7.20%	n/a	3,398		133		—		7.20%	n/a	3,398		133		—
Secured borrowings	(8)	n/a	490		—		—		(8)	n/a	1,028		131		—
Total			$	26,759	$	271	$	1,250			$	48,611	$	540	$	2,060

(1)    Amortization of deferred financing costs.

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

(3)    From January 24, 2024 through June 30, 2024, the Wells Fargo Credit Facility had an interest rate of daily simple SOFR, with a daily simple SOFR floor of zero, plus a spread of 2.75% per annum.

(4)    From January 24, 2024 through June 30, 2024, the non-usage fee per annum was 0.50% for the first 25% of the unused balance and increases to 2.00% for any remaining unused balance.

(5)    From January 24, 2024 through June 30, 2024, the JPM Credit Facility had an interest rate of three-month Term SOFR, plus a spread of 2.80% per annum, inclusive of an administrative agent fee of 0.20%.

(6)    From January 24, 2024 through June 30, 2024, the non-usage fee per annum was 0.75%, inclusive of an administrative fee of 0.20%.

(7)    From January 24, 2024 through June 30, 2024, the interest rate was three-month Term SOFR, plus a spread calculated based upon the composition of the loans in the collateral pool, which will not exceed 1.98% per annum.

(8)    From January 1, 2024 through April 23, 2024, the interest rate was three-month SOFR plus 3.60% per annum. From April 24, 2024 through June 30, 2024, the interest rate was amended to be three-month SOFR plus 2.80% per annum.

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		—		—
Total			$	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.

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, 2024		Fair Value as of June 30, 2024
JPM Credit Facility	3	$	300,000	$	300,000
Wells Fargo Credit Facility	3	225,000		225,000
FBLC JPM Credit Facility	3	320,000		320,000
JPM Revolver Facility	3	43,590		43,590
2024 Notes	3	100,000		98,868
2026 Notes	3	300,000		282,846
2029 Notes	3	296,822		299,607
Total		$	1,585,412	$	1,569,911

	Level	Carrying Amount as of December 31, 2023		Fair Value as of December 31, 2023
JPM Credit Facility	3	$	322,000	$	322,000
Total		$	322,000	$	322,000