Debt

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

DEBT FACILITY

DEBT FACILITY

On April 5, 2016, the Fund established a secured, syndicated revolving loan facility in an initial amount up to $150.0 million (the “Loan Agreement”) led by Wells Fargo, N.A. and MUFG Union Bank, N.A. On September 11, 2017, the Loan Agreement was amended and the borrowing availability thereunder increased the size of the facility to $280.0 million.

Effective September 8, 2022, the Fund paid off the loan and terminated the debt facility.

Bank fees and other costs of $3.8 million incurred in connection with the acquisition and extension of the facility were capitalized and were amortized to interest expense on a straight-line basis over the expected life of the facility. The fees and costs were fully amortized when the debt facility was terminated on September 8, 2022.