XML 70 R46.htm IDEA: XBRL DOCUMENT v3.24.0.1
Senior secured notes, convertible notes, and corporate debt, net (Tables)
12 Months Ended
Dec. 31, 2023
Senior secured notes, convertible notes, and corporate debt, net  
Schedule of components of the Senior Secured Notes, Convertible Notes, and Corporate debt

(in thousands)

  

Coupon Rate

Maturity Date

  

December 31, 2023

Senior secured notes principal amount(1)

4.50

%

10/20/2026

$

350,000

Unamortized deferred financing costs - Senior secured notes

(4,873)

Total Senior secured notes, net

$

345,127

Corporate debt principal amount(2)

5.50

%

12/30/2028

110,000

Corporate debt principal amount(3)

6.20

%

7/30/2026

104,614

Corporate debt principal amount(3)

5.75

%

2/15/2026

206,270

Corporate debt principal amount(4)

6.125

%

4/30/2025

120,000

Corporate debt principal amount(5)

7.375

%

7/31/2027

100,000

Corporate debt principal amount(6)

5.00

%

11/15/2026

100,000

Unamortized discount - corporate debt

(7,121)

Unamortized deferred financing costs - corporate debt

(5,105)

Junior subordinated notes principal amount(7)

SOFR + 3.10

%

3/30/2035

15,000

Junior subordinated notes principal amount(8)

SOFR + 3.10

%

4/30/2035

21,250

Total corporate debt, net

$

764,908

Total carrying amount of debt

$

1,110,035

(1) Interest on the senior secured notes is payable semiannually on April 20 and October 20 of each year.

(2) Interest on the corporate debt is payable semiannually on June 30 and December 30 of each year.

(3) Interest on the corporate debt is payable quarterly on January 30, April 30, July 30, and October 30 of each year.

(4) Interest on the corporate debt is payable semiannually on April 30 and October 30 of each year.

(5) Interest on the corporate debt is payable semiannually on January 31 and July 31 of each year.

(6) Interest on the corporate debt is payable semiannually on May 15 and November 15 of each year; assumed as part of the Broadmark Merger.

(7) Interest on the Junior subordinated notes I-A is payable quarterly on March 30, June 30, September 30, and December 30 of each year.

(8) Interest on the Junior subordinated notes I-B is payable quarterly on January 30, April 30, July 30, and October 30 of each year.

Schedule of contractual maturities of the Senior Secured Notes, Convertible Notes, and Corporate debt

(in thousands)

    

December 31, 2023

2024

 

$

2025

 

120,000

2026

 

760,884

2027

 

100,000

2028

110,000

Thereafter

 

36,250

Total contractual amounts

$

1,127,134

Unamortized deferred financing costs, discounts, and premiums, net

(17,099)

Total carrying amount of debt

$

1,110,035