DEBT (Tables)

9 Months Ended

Sep. 30, 2025

Debt Disclosure [Abstract]

Schedule of Debt Instruments

The following table summarizes the balance of the Company’s indebtedness as of September 30, 2025 and December 31, 2024 (dollars in thousands):

	September 30, 2025						December 31, 2024
	Principal Amount		Deferred Loan Fees		Carrying Amount		Principal Amount		Deferred Loan Fees		Carrying Amount
Senior unsecured notes payable	$	400,000	$	(2,406)	$	397,594	$	400,000	$	(3,073)	$	396,927
Senior unsecured term loan	500,000		(3,799)		496,201		—		—		—
	$	900,000	$	(6,205)	$	893,795	$	400,000	$	(3,073)	$	396,927

The terms of the debt were as follows:

	Clydesdale Bank PLC (“Virgin”)		HSBC UK Bank Plc (“HSBC”)		National Westminster Bank Plc (“NatWest”)		Secured notes payable (tranche A)		Secured notes payable (tranche B)
Facility Type	Revolving credit facility		Revolving credit facility		Revolving credit facility		Private placement		Private placement
Maturity date	December 2029		April 2026		June 2029		December 2035		June 2035
Base rate	SONIA		SONIA		SONIA		N/A		N/A
Margin(1)	2.00	%	2.00	%	2.00	%	N/A		N/A
Fixed interest rate	N/A		N/A		N/A		2.93	%	3.00	%

(1)SONIA used at time of prepayment was 4.22%.

Schedule of Maturities of Outstanding Debt

The following is a schedule of maturities for the Company’s outstanding debt as of September 30, 2025 (dollars in thousands):

	Term Loan		Senior Unsecured Notes		Total
2025 (Three months)	$	—	$	—	$	—
2026	—		—		—
2027	—		—		—
2028	—		400,000		400,000
2029	—		—		—
2030	500,000		—		500,000
Thereafter	—		—		—
Total Debt	$	500,000	$	400,000	$	900,000