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Debt (Tables)

12 Months Ended

Dec. 31, 2023

Debt consisted of the following (in thousands):


	December 31, 2023								December 31, 2022
	Aggregate Principal Amount Committed		Drawn Amount		Amount Available (1)		Carrying Value(2)(3)		Aggregate Principal Amount Committed		Drawn Amount		Amount Available (1)		Carrying Value(2)(3)
SPV Asset Facility	$	500,000	$	329,850	$	170,150	$	329,850	$	350,000	$	233,000	$	117,000	$	233,000
SMBC Corporate Revolving Facility		385,000		225,471		159,529		225,471		350,000		241,836		108,164		241,836
Series 2020A Unsecured Notes		—		—		—		—		50,000		50,000		—		50,000
Series 2021A Unsecured Notes(4)		135,000		135,000		—		135,000		135,000		135,000		—		135,000
FCRX Unsecured Notes(5)		111,600		111,600		—		111,600		—		—		—		—
Series 2023A Unsecured Notes(6)		50,000		50,000		—		50,000		—		—		—		—
Total Debt	$	1,181,600	$	851,921	$	329,679	$	851,921	$	885,000	$	659,836	$	225,164	$	659,836

(1)

The amount available is subject to any limitations related to the respective debt facilities’ borrowing bases and foreign currency translation adjustments.

(2)

The amount presented excludes netting of deferred financing costs.

(3)

As of December 31, 2023 and 2022, the carrying amount of the Company’s outstanding debt approximated fair value unless otherwise noted.

(4)

As of December 31, 2023 and 2022, the fair value of the Series 2021A Unsecured Notes was approximately $128,296 and $123,223, respectively.

(5)

As of December 31, 2023, the fair value of the FCRX Unsecured Notes was approximately $104,458.

(6)

As of December 31, 2023, the fair value of the Series 2023A Unsecured Notes was approximately $51,986.

Summary of Interest and Credit Facility Expenses

The borrowing expenses incurred by the SPV Asset Facility, SMBC Corporate Revolving Facility, Ally Corporate Revolving Facility, InterNotes®, Series 2020A Unsecured Notes, Series 2021A Unsecured Notes, Series 2023A Unsecured Notes and FCRX Unsecured Notes were as follows (in thousands):


	For the years ended December 31,
	2023		2022		2021
Borrowing interest expense	$	54,875	$	28,930	$	16,166
Unused facility fees		1,767		1,212		1,046
Amortization of financing costs		2,100		1,738		2,554
Total interest and credit facility expenses	$	58,742	$	31,880	$	19,766
Weighted average outstanding balance	$	836,999	$	673,503	$	530,675