DEBT (Tables)

3 Months Ended

Mar. 31, 2025

Debt Disclosure [Abstract]

Schedule of Long-Term Debt Instruments

The Company’s debt obligations were as follows.

	March 31, 2025						December 31, 2024
	Aggregate Principal Committed		Outstanding Principal		Unused Portion		Aggregate Principal Committed		Outstanding Principal		Unused Portion
BNP Funding Facility	$	600,000	$	316,000	$	284,000	$	600,000	$	316,000	$	284,000
Truist Credit Facility(1)	1,450,000		647,588		800,137		1,300,000		617,401		680,770
2027 Notes(2)	425,000		425,000		—		425,000		425,000		—
2025 Notes(2)	275,000		275,000		—		275,000		275,000		—
2029 Notes(2)	350,000		350,000		—		350,000		350,000		—
Total	$	3,100,000	$	2,013,588	$	1,084,137	$	2,950,000	$	1,983,401	$	964,770

(1)As of March 31, 2025 and December 31, 2024, a letter of credit of $2,275 and $1,828, respectively, was outstanding, which reduced the unused availability under the Truist Credit Facility by the same amount. Under the Truist Credit Facility, the Company may borrow in U.S. dollars or certain other permitted currencies. As of March 31, 2025 and December 31, 2024, the Company had borrowings denominated in Euros (EUR) of 3,298 and 3,298, respectively, Canadian dollars (CAD) of 300 and 300, respectively and Pound Sterling (GBP) of 1,020 and 1,020, respectively.

(2)As of March 31, 2025, the carrying value of the Company’s 2027 Notes, 2025 Notes and 2029 Notes were presented net of unamortized debt issuance costs of $2,097, $555 and $2,982 and unamortized original issuance discount of $399, $0 and $3,207, respectively. As of December 31, 2024, the carrying value of the Company’s 2027 Notes, 2025 Notes and 2029 Notes were presented net of unamortized debt issuance costs of $2,374, $856 $3,297, and unamortized original issuance discount of $452, $0 and $3,398, respectively.

The Company's summary information of its debt obligations were as follows:

	For the Three Months Ended
	March 31, 2025			March 31, 2024
Combined weighted average interest rate (1)	6.11		%	6.69		%
Combined weighted average effective interest rate (2)	6.52		%	7.12		%
Combined weighted average debt outstanding	$	2,030,967		$	1,462,796

(1) Excludes unused commitment fees, amortization of financing costs, accretion of original issue discount and net change in unrealized (appreciation) depreciation on effective interest rate swaps and hedged items.

(2) Excludes unused commitment fees and net change in unrealized (appreciation) depreciation on effective interest rate swaps and hedged items.

The summary information of the BNP Funding Facility is as follows:

	For the Three Months Ended
	March 31, 2025			March 31, 2024
Borrowing interest expense	$	5,195		$	6,149
Facility unused commitment fees	465			314
Amortization of deferred financing costs	400			413
Total	$	6,060		$	6,876
Weighted average interest rate	6.58		%	8.19		%
Weighted average outstanding balance	$	316,000		$	297,165

The summary information of the Truist Credit Facility is as follows:

	For the Three Months Ended
	March 31, 2025			March 31, 2024
Borrowing interest expense	$	10,453		$	8,628
Facility unused commitment fees	638			635
Amortization of deferred financing costs	560			513
Total	$	11,651		$	9,776
Weighted average interest rate	6.29		%	7.33		%
Weighted average outstanding balance	$	664,967		$	465,631

The summary information of 2027 Notes is as follows:

	For the Three Months Ended
	March 31, 2025			March 31, 2024
Borrowing interest expense	$	4,781		$	4,781
Accretion of original issuance discount	54			54
Amortization of debt issuance costs	277			280
Total	$	5,112		$	5,115
Stated interest rate	4.50		%	4.50		%

The summary information of 2025 Notes is as follows:

	For the Three Months Ended
	March 31, 2025			March 31, 2024
Borrowing interest expense	$	5,191		$	5,191
Amortization of debt issuance costs	301			302
Total	$	5,492		$	5,493
Stated interest rate	7.55		%	7.55		%

The summary information of 2029 Notes is as follows:

	For the Three Months Ended
	March 31, 2025			March 31, 2024
Borrowing interest expense	$	5,381		$	—
Accretion of original issuance discount	191			—
Net change in unrealized (appreciation) depreciation on effective interest rate swaps and hedged items	(24)			—
Amortization of debt issuance costs	316			—
Total	$	5,864		$	—
Stated interest rate	6.15		%	—		%