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SUBSEQUENT EVENTS | 12 Months Ended
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Dec. 31, 2024
Subsequent Events [Abstract] |
SUBSEQUENT EVENTS | SUBSEQUENT EVENTS Subsequent events have been evaluated through the date the consolidated financial statements were issued. There have been no subsequent events that require recognition or disclosure through the date the consolidated financial statements were issued, except as disclosed below. Pursuant to a Registration Statement on Form N-14 (File No. 333-283653), which went effective on January 14, 2025, the Company closed an exchange offer in which holders of the 2029 Notes that were restricted because they were issued in a private placement were offered the opportunity to exchange such notes for new, registered notes with substantially identical terms. Through this exchange offer, holders representing 99.32% of the outstanding principal of the then restricted 2029 Notes obtained registered, unrestricted 2029 Notes. On February 25, 2025, the Company amended and restated that certain senior secured revolving credit agreement with Truist Bank (the “A&R Credit Agreement”). The A&R Credit Agreement amended certain terms of the Truist Credit Facility, including, but not limited to, amendments to (a) increase the facility size from $1,300,000 to $1,450,000, (b) extend the revolving period and maturity date with respect to the loans and commitments held by the lenders who consented to the maturity extension until February 23, 2029 and February 25, 2030, respectively, (c) reprice the Truist Credit Facility to S + 1.775% and (d) modify certain covenant restrictions. From January 1, 2025 through February 26, 2025, the Company repurchased 11,401 shares at an average price of $20.31, as part of the Company 10b5-1 plan On February 27, 2025, the Board authorized an amended and restated share repurchase plan, or the Amended and Restated Company 10b5-1 Plan. Under the Amended and Restated Company 10b5-1 Plan, the Company may acquire up to $100 million in the aggregate of Common Stock at prices below its net asset value per share over a specified period, in accordance with the guidelines specified in Rule 10b5-1 and Rule 10b-18 of the Exchange Act. The Amended and Restated Company 10b5-1 Plan will terminate upon the earliest to occur of (i) 24-months from the commencement date of the original Company 10b5-1 Plan (refer to Note 8 “Net Assets” for information on the original Company 10b5-1 plan), (ii) the end of the trading day on which the aggregate purchase price for all shares purchased under the Amended and Restated Company 10b5-1 Plan equals $100 million and (iii) the occurrence of certain other events described in the Amended and Restated Company 10b5-1 Plan. On February 27, 2025, the Board declared a distribution of $0.50 per share, which is payable on April 25, 2025 to shareholders of record as of March 31, 2025. .

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2 + Details
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