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Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
8 Months Ended 12 Months Ended
Dec. 31, 2024
Dec. 31, 2025
Cash flows from operating activities:    
Net increase (decrease) in net assets resulting from operations $ 37,342 $ 60,204
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:    
Purchases of investments (792,156) (757,050)
Paid-in-kind interest (993) (3,145)
Proceeds from sale and repayments of investments 43,543 213,936
Net realized gains (losses) on investments and foreign currencies (537) (755)
Net change in unrealized appreciation (depreciation) on investments and foreign currencies (8,058) 3,206
Amortization of deferred financing costs 774 1,488
Net accretion/amortization of premiums/discounts (930) (572)
Changes in operating assets and liabilities:    
(Increase) decrease in interest receivable (5,856) (1,005)
(Increase) decrease in other assets (4,131) (4,274)
Increase (decrease) in interest payable 6,749 2,096
Increase (decrease) in other accrued expenses 1,279 3,699
Increase (decrease) in deferred tax liability 948 (256)
Increase (decrease) in administration and custody fees payable 246 286
Increase (decrease) in payable for investments purchased 105 1,199
Increase (decrease) in due to Adviser 130 (21)
Increase (decrease) in Directors’ fees payable 37 0
Net cash provided by (used in) operating activities (721,508) (480,964)
Cash flows from financing activities:    
Subscription for shares 329,001 230,000
Distributions paid to shareholders 0 (10,891)
Proceeds from credit facilities 586,334 577,888
Repayments of credit facilities (167,000) (272,500)
Deferred financing costs paid (5,246) (2,680)
Net cash provided by (used in) financing activities 743,089 521,817
Effect of exchange rate changes on cash (64) 37
Net Increase (Decrease) in Cash and Cash Equivalents 21,517 40,890
Cash and Cash Equivalents:    
Beginning balance 0 21,517
Ending balance 21,517 62,407
Supplemental disclosure of cash flow information and non-cash financing activities    
Cash paid for interest expense 10,572 29,434
Reinvestment of distributions $ 26,397 $ 49,629