DEBT (Tables)

12 Months Ended

Dec. 31, 2025

Debt Disclosure [Abstract]

Schedule of Debt Instruments

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

	December 31, 2025						December 31, 2024
	Principal		Deferred		Carrying		Principal		Deferred		Carrying
	Amount		Loan Fees		Amount		Amount		Loan Fees		Amount
Senior unsecured notes payable	$	400,000	$	(2,184)	$	397,816	$	400,000	$	(3,073)	$	396,927
Senior unsecured term loan	500,000		(3,596)		496,404		—		—		—
Total	$	900,000	$	(5,780)	$	894,220	$	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 Debt Maturities

The following is a schedule of maturities for the Company’s outstanding debt as of December 31, 2025 (dollars in thousands): 

Year	Term Loan		Senior Unsecured Notes		Total
2026	$	—	$	—	$	—
2027	—		—		—
2028	—		400,000		400,000
2029	—		—		—
2030	500,000		—		500,000
Thereafter	—		—		—
Total Debt	$	500,000	$	400,000	$	900,000