SUBSEQUENT EVENTS

9 Months Ended

Sep. 30, 2024

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

The Company’s management evaluated subsequent events through the date of issuance of the consolidated financial statements. There have been no subsequent events that occurred during such period that would require disclosure in, or would be required to be recognized in, the consolidated financial statements as of September 30, 2024, except as discussed below.

On October 4, 2024, the Company entered into a second amendment (the “Second Amendment”) to the Revolving Credit Facility, among the Company, as borrower, the lenders and issuing banks from time to time party thereto, SMBC, as administrative agent and sole bookrunner, and SMBC and Wells Fargo as joint lead arrangers. The Second Amendment, among other things, (x) added a term loan tranche, (y) increased the total committed facility amount from $250,000 to $325,000 and (z) reduced (i) the applicable margin from 2.125% to 2.00% and (ii) the credit spread adjustment from 0.15% to 0.10% for Term SOFR borrowings with a three-month tenor and from 0.25% to 0.10% for Term SOFR borrowings with a six-month tenor.

On October 29, 2024, the Board, including all of the Independent Directors, approved the renewal of each Advisory Agreement in accordance with, and on the basis of, an evaluation satisfactory to such directors as required by the 1940 Act for an additional one-year term expiring on December 1, 2025.

On November 4, 2024, the Board declared a fourth quarter regular dividend of $0.45 per share payable on or around January 28, 2025 to shareholders of record as of December 31, 2024.

On November 5, 2024, the Company terminated in full the SMBC Financing Facility Agreement, dated as of November 24, 2020, and the SMBC Financing Facility thereunder. In connection with the termination of the SMBC Financing Facility, the Company also terminated the security interest over the collateral granted to SMBC and the lenders pursuant to the SMBC Financing Facility Agreement. The SMBC Financing Facility was terminated concurrent with the satisfaction of all obligations and liabilities of the Company to the lenders thereunder, including, without limitation, payments of principal and interest, other fees, breakage costs and other amounts owing to the lenders.