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v3.23.1

Debt Obligations - Credit and Repurchase Facilities (Details) - USD ($) $ in Thousands | 3 Months Ended |
--- | --- | ---
Mar. 31, 2023 | Dec. 31, 2022
Debt Obligations |  |
Collateral Carrying Value | $ 4,865,667 | $ 5,185,293
Weighted Average Note Rate (as a percent) | 7.06% |
Debt Carrying Value | $ 3,650,876 | 3,841,814
Outstanding principal balance repaid | 47,400 |
Repurchase facility - securities | B Piece bonds |  |
Debt Obligations |  |
Collateral Carrying Value |  | 33,100
Structured Business |  |
Debt Obligations |  |
Collateral Carrying Value | 4,427,306 | 4,845,753
Unamortized deferred financing fees | $ 11,100 | $ 13,300
Weighted average note rate including certain fees and costs (as a percent) | 7.57% | 6.95%
Leverage on loans and investment portfolio financed through credit facilities and repurchase agreements, excluding securities repurchase facility, working capital line of credit and security agreement used to finance leasehold and capital expenditure improvements at corporate office (as a percent) | 72.00% | 73.00%
Weighted Average Note Rate (as a percent) | 7.18% |
Debt Carrying Value | $ 3,228,891 | $ 3,536,371
Structured Business | $2.5B joint repurchase facility |  |
Debt Obligations |  |
Collateral Carrying Value | 1,876,423 | 2,099,447
Maximum borrowing capacity | $ 2,500,000 |
Weighted Average Note Rate (as a percent) | 7.26% |
Debt Carrying Value | $ 1,336,305 | 1,516,657
Structured Business | $1B repurchase facility |  |
Debt Obligations |  |
Collateral Carrying Value | 559,341 | 703,740
Maximum borrowing capacity | $ 1,000,000 |
Weighted Average Note Rate (as a percent) | 6.97% |
Debt Carrying Value | $ 391,056 | 498,666
Structured Business | $500M repurchase facility |  |
Debt Obligations |  |
Collateral Carrying Value | 240,799 | 188,563
Maximum borrowing capacity | $ 500,000 |
Expiration period after the lender provides written notice | 6 months |
Additional period to repurchase the underlying loans | 6 months |
Weighted Average Note Rate (as a percent) | 7.89% |
Debt Carrying Value | $ 198,152 | 154,653
Structured Business | $499M repurchase facility |  |
Debt Obligations |  |
Maximum borrowing capacity | 499,000 |
Structured Business | $450M repurchase facility |  |
Debt Obligations |  |
Collateral Carrying Value | 419,485 | 450,736
Total committed amount | $ 450,000 |
Weighted Average Note Rate (as a percent) | 7.03% |
Debt Carrying Value | $ 319,106 | 344,237
Structured Business | $450M repurchase facility | SOFR |  |
Debt Obligations |  |
Variable rate, spread (as a percent) | 2.00% |
Structured Business | $450M repurchase facility |  |
Debt Obligations |  |
Collateral Carrying Value | $ 131,924 | 239,678
Maximum borrowing capacity | $ 450,000 |
Weighted Average Note Rate (as a percent) | 6.57% |
Debt Carrying Value | $ 102,470 | 186,639
Structured Business | $450M repurchase facility |  |
Debt Obligations |  |
Collateral Carrying Value | $ 487,321 | 504,506
Weighted Average Note Rate (as a percent) | 7.22% |
Debt Carrying Value | $ 339,819 | 351,056
Structured Business | $400M credit facility |  |
Debt Obligations |  |
Collateral Carrying Value | 43,383 | 43,238
Maximum borrowing capacity | $ 400,000 |
Weighted Average Note Rate (as a percent) | 6.83% |
Debt Carrying Value | $ 33,232 | 33,221
Structured Business | $225M credit facility |  |
Debt Obligations |  |
Collateral Carrying Value | 116,288 | 81,119
Maximum borrowing capacity | $ 225,000 |
Weighted Average Note Rate (as a percent) | 7.52% |
Debt Carrying Value | $ 64,877 | 47,398
Structured Business | $200M credit facility |  |
Debt Obligations |  |
Collateral Carrying Value | 187,508 | 200,099
Maximum borrowing capacity | $ 200,000 |
Weighted Average Note Rate (as a percent) | 6.92% |
Debt Carrying Value | $ 147,948 | 154,516
Structured Business | $50M credit facility |  |
Debt Obligations |  |
Collateral Carrying Value | $ 36,500 | 36,500
Weighted Average Note Rate (as a percent) | 7.07% |
Debt Carrying Value | $ 29,199 | 29,194
Structured Business | $169M loan specific credit facilities |  |
Debt Obligations |  |
Collateral Carrying Value | 238,458 | 225,805
Maximum borrowing capacity | $ 169,000 |
Weighted Average Note Rate (as a percent) | 6.97% |
Debt Carrying Value | $ 169,111 | 156,107
Structured Business | $25M credit facility |  |
Debt Obligations |  |
Collateral Carrying Value | 24,475 | 24,572
Maximum borrowing capacity | $ 25,000 |
Weighted Average Note Rate (as a percent) | 7.57% |
Debt Carrying Value | $ 18,747 | 18,701
Structured Business | $25M credit facility. |  |
Debt Obligations |  |
Maximum borrowing capacity | $ 25,000 |
Structured Business | Repurchase facility - securities |  |
Debt Obligations |  |
Weighted Average Note Rate (as a percent) | 6.59% |
Debt Carrying Value | $ 33,100 | 12,832
Structured Business | $35M working capital facility |  |
Debt Obligations |  |
Maximum borrowing capacity | 35,000 |
Structured Business | $200M credit facility |  |
Debt Obligations |  |
Collateral Carrying Value | 65,401 | 47,750
Maximum borrowing capacity | $ 200,000 |
Weighted Average Note Rate (as a percent) | 7.52% |
Debt Carrying Value | $ 45,769 | 32,494
Structured Business | $50 million credit facility - two |  |
Debt Obligations |  |
Maximum borrowing capacity | 50,000 |
Agency Business |  |
Debt Obligations |  |
Collateral Carrying Value | 438,361 | 339,540
Unamortized deferred financing fees | $ 800 | 900
Weighted Average Note Rate (as a percent) | 6.17% |
Debt Carrying Value | $ 421,985 | 305,443
Agency Business | $500M repurchase facility |  |
Debt Obligations |  |
Collateral Carrying Value | $ 125,336 | 66,866
Weighted Average Note Rate (as a percent) | 6.18% |
Debt Carrying Value | $ 112,978 | 66,778
Agency Business | $200M credit facility |  |
Debt Obligations |  |
Collateral Carrying Value | 167,681 | 33,177
Maximum borrowing capacity | 200,000 |
Total committed amount | $ 200,000 |
Weighted Average Note Rate (as a percent) | 6.27% |
Debt Carrying Value | $ 167,480 | 31,475
Agency Business | $200M credit facility | SOFR |  |
Debt Obligations |  |
Variable rate, spread (as a percent) | 1.40% |
Agency Business | $50M credit facility |  |
Debt Obligations |  |
Collateral Carrying Value |  | 14,671
Debt Carrying Value |  | 14,664
Agency Business | $750M ASAP agreement |  |
Debt Obligations |  |
Collateral Carrying Value | $ 82,679 | 30,291
Maximum borrowing capacity | $ 750,000 |
Weighted Average Note Rate (as a percent) | 5.78% |
Debt Carrying Value | $ 82,581 | 29,476
Agency Business | $500M joint repurchase facility |  |
Debt Obligations |  |
Collateral Carrying Value | 11,350 | 135,641
Maximum borrowing capacity | $ 500,000 |
Weighted Average Note Rate (as a percent) | 7.03% |
Debt Carrying Value | $ 8,047 | 104,629
Agency Business | $150M credit facility |  |
Debt Obligations |  |
Collateral Carrying Value | 50,408 | 57,974
Maximum borrowing capacity | $ 150,000 |
Weighted Average Note Rate (as a percent) | 6.33% |
Debt Carrying Value | $ 50,365 | 57,887
Agency Business | $1M repurchase facility |  |
Debt Obligations |  |
Collateral Carrying Value | 907 | 920
Maximum borrowing capacity | $ 1,000 |
Weighted Average Note Rate (as a percent) | 7.18% |
Debt Carrying Value | $ 534 | $ 534
Agency Business | $50 million credit facility - one |  |
Debt Obligations |  |
Maximum borrowing capacity | 50,000 |
Agency Business | $500.0 million credit facility |  |
Debt Obligations |  |
Maximum borrowing capacity | $ 500,000 |

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