Debt (Tables)

9 Months Ended

Sep. 30, 2024

Debt consisted of the following (in thousands):


	September 30, 2024								December 31, 2023
	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	$	328,600	$	171,400	$	328,600	$	500,000	$	329,850	$	170,150	$	329,850
SMBC Corporate Revolving Facility		385,000		239,394		145,606		239,394		385,000		225,471		159,529		225,471
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		111,600		111,600		—		111,600
Series 2023A Unsecured Notes(6)		50,000		50,000		—		50,000		50,000		50,000		—		50,000
Total Debt	$	1,181,600	$	864,594	$	317,006	$	864,594	$	1,181,600	$	851,921	$	329,679	$	851,921

(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 September 30, 2024 and December 31, 2023, the carrying amount of the Company’s outstanding debt approximated fair value unless otherwise noted.

(4)

As of September 30, 2024 and December 31, 2023, the fair value of the Series 2021A Unsecured Notes was approximately $133,968 and $128,296, respectively.

(5)

As of September 30, 2024 and December 31, 2023, the fair value of the FCRX Unsecured Notes was approximately $108,698 and $104,458.

(6)

As of September 30, 2024 and December 31, 2023, the fair value of the Series 2023A Unsecured Notes was approximately $52,413 and $51,986.

Summary of Interest and Credit Facility Expenses

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


	For the three months ended September 30,				For the nine months ended September 30,
	2024		2023		2024		2023
Borrowing interest expense	$	15,238	$	14,429	$	44,810	$	40,037
Unused facility fees		318		411		1,141		1,404
Amortization of financing costs		548		539		1,687		1,578
Total interest and credit facility expenses	$	16,104	$	15,379	$	47,638	$	43,019
Weighted average outstanding balance	$	897,987	$	854,729	$	878,918	$	825,576