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DEBT (Tables) | 12 Months Ended
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Dec. 31, 2024
Debt Disclosure [Abstract] |
Schedule of Long-Term Debt Instruments | The Company’s debt obligations were as follows.
| December 31, 2024 |  | December 31, 2023
| Aggregate Principal Committed | Outstanding Principal | Unused Portion |  | Aggregate Principal Committed | Outstanding Principal | Unused Portion
CIBC Subscription Facility(1) | $ | — |  | $ | — |  | $ | — |  |  | $ | — |  | $ | — |  | $ | — |
BNP Funding Facility | 600,000 |  | 316,000 |  | 284,000 |  |  | 600,000 |  | 282,000 |  | 318,000 |
Truist Credit Facility(2) | 1,300,000 |  | 617,401 |  | 680,770 |  |  | 1,120,000 |  | 520,263 |  | 599,484 |
2027 Notes(3) | 425,000 |  | 425,000 |  | — |  |  | 425,000 |  | 425,000 |  | — |
2025 Notes(3) | 275,000 |  | 275,000 |  | — |  |  | 275,000 |  | 275,000 |  | — |
2029 Notes(3) | 350,000 |  | 350,000 |  | — |  |  | — |  | — |  | — |
Total | $ | 2,950,000 |  | $ | 1,983,401 |  | $ | 964,770 |  |  | $ | 2,420,000 |  | $ | 1,502,263 |  | $ | 917,484 |
(1)The CIBC Subscription Facility matured and was fully paid off as of December 31, 2022. (2)As of December 31, 2024 and December 31, 2023, a letter of credit of $1,828 and $253, 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 December 31, 2024 and December 31, 2023, the Company had borrowings denominated in Euros (EUR) of 3,298 and 238, respectively, Canadian dollars (CAD) of 300 and 0, respectively and Pound Sterling (GBP) of 1,020 and 0, respectively. (3)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 and $3,297 and unamortized original issuance discount of $452, $0 and $3,398, respectively. As of December 31, 2023, the carrying value of the Company’s 2027 Notes, 2025 Notes and 2029 Notes were presented net of unamortized debt issuance costs of $3,499, $2,065 $0, and unamortized original issuance discount of $667, $0 and $0, respectively. The Company's summary information of its debt obligations were as follows:
|  | For the Year Ended |  |
|  | December 31, 2024 |  | December 31, 2023 |  | December 31, 2022 |  |
Combined weighted average interest rate (1) |  | 6.46 | % |  | 6.51 | % |  | 4.05 | % |  |
Combined weighted average effective interest rate (2) |  | 6.90 | % |  | 6.85 | % |  | 4.41 | % |  |
Combined weighted average debt outstanding |  | $ | 1,681,358 |  |  | $ | 1,576,285 |  | $ | 1,432,492 |  |  |
(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 CIBC Subscription Facility is as follows:
|  | For the Year Ended |  |
|  | December 31, 2024 |  | December 31, 2023 |  | December 31, 2022 |  |
Borrowing interest expense |  | $ | — |  |  | $ | — |  |  | $ | 8,312 |  |  |
Facility unused commitment fees |  | — |  |  | — |  |  | 26 |  |  |
Amortization of deferred financing costs |  | — |  |  | — |  |  | 1,347 |  |  |
Total |  | $ | — |  |  | $ | — |  |  | $ | 9,685 |  |  |
Weighted average interest rate |  | — | % |  | — | % |  | 3.13 | % |  |
Weighted average outstanding balance |  | $ | — |  |  | $ | — |  |  | $ | 262,184 |  |  |
The summary information of the BNP Funding Facility is as follows:
|  | For the Year Ended |  |
|  | December 31, 2024 |  | December 31, 2023 |  | December 31, 2022 |  |
Borrowing interest expense |  | $ | 20,662 |  |  | $ | 27,086 |  |  | $ | 15,376 |  |  |
Facility unused commitment fees |  | 2,068 |  |  | 771 |  |  | 507 |  |  |
Amortization of deferred financing costs |  | 1,650 |  |  | 1,257 |  |  | 1,145 |  |  |
Total |  | $ | 24,380 |  |  | $ | 29,114 |  |  | $ | 17,028 |  |  |
Weighted average interest rate |  | 7.77 | % |  | 7.51 | % |  | 3.90 | % |  |
Weighted average outstanding balance |  | $ | 261,541 |  |  | $ | 355,507 |  |  | $ | 389,216 |  |  |
The summary information of the Truist Credit Facility is as follows:
|  | For the Year Ended
|  | December 31, 2024 |  | December 31, 2023 |  | December 31, 2022 |  |
Borrowing interest expense |  | $ | 36,415 |  |  | $ | 37,055 |  |  | $ | 11,959 |  |  |
Facility unused commitment fees |  | 2,912 |  |  | 2,287 |  |  | 2,487 |  |  |
Amortization of deferred financing costs |  | 2,077 |  |  | 1,992 |  |  | 1,243 |  |  |
Total |  | $ | 41,404 |  |  | $ | 41,334 |  |  | $ | 15,689 |  |  |
Weighted average interest rate |  | 7.15 | % |  | 7.02 | % |  | 3.68 | % |  |
Weighted average outstanding balance |  | $ | 500,828 |  |  | $ | 520,778 |  |  | $ | 320,955 |  |  |
The summary information of 2027 Notes is as follows:
|  | For the Year Ended |  |
|  | December 31, 2024 |  | December 31, 2023 |  | December 31, 2022 |  |
Borrowing interest expense |  | $ | 19,125 |  |  | $ | 19,125 |  |  | $ | 17,000 |  |  |
Accretion of original issuance discount |  | 215 |  |  | 214 |  |  | 190 |  |  |
Amortization of debt issuance costs |  | 1,133 |  |  | 1,122 |  |  | 996 |  |  |
Total |  | $ | 20,473 |  |  | $ | 20,461 |  |  | $ | 18,186 |  |  |
Stated interest rate |  | 4.50 | % |  | 4.50 | % |  | 4.50 | % |  |
The summary information of 2025 Notes is as follows:
|  | For the Year Ended |  |
|  | December 31, 2024 |  | December 31, 2023 |  | December 31, 2022 |  |
Borrowing interest expense |  | $ | 20,762 |  |  | $ | 20,762 |  |  | $ | 6,229 |  |  |
Amortization of debt issuance costs |  | 1,216 |  |  | 1,212 |  |  | 365 |  |  |
Total |  | $ | 21,978 |  |  | $ | 21,974 |  |  | $ | 6,594 |  |  |
Stated interest rate |  | 7.55 | % |  | 7.55 | % |  | 7.55 | % |  |
The summary information of 2029 Notes is as follows:
|  | For the Year Ended |  |
|  | December 31, 2024 |  | December 31, 2023 |  | December 31, 2022 |  |
Borrowing interest expense |  | $ | 13,393 |  |  | $ | — |  |  | $ | — |  |  |
Accretion of original issuance discount |  | 488 |  |  | — |  |  | — |  |  |
Net change in unrealized (appreciation) depreciation on effective interest rate swaps and hedged items |  | 10 |  |  | — |  |  | — |  |  |
Amortization of debt issuance costs |  | 802 |  |  | — |  |  | — |  |  |
Total |  | $ | 14,693 |  |  | $ | — |  |  | $ | — |  |  |
Stated interest rate |  | 6.15 | % |  | — | % |  | — | % |  |

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