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DEBT | 6 Months Ended
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Jun. 30, 2025
DEBT |
DEBT | 8 – DEBT ​ Long-term debt, net consists of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, | ​ | December 31, | ​
​ |  | 2025 |  | 2024 |
Principal amount |  | $ | 100,000 |  | $ | 90,000 | ​
Less: Unamortized deferred financing costs | ​ |  | (7,032) | ​ |  | (7,825) | ​
Less: Current portion | ​ |  | — | ​ |  | — | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Long-term debt, net |  | $ | 92,968 |  | $ | 82,175 | ​
​ $500 Million Revolver On November 29, 2023, the Company entered into a fourth amendment to amend, extend and upsize its existing credit facility at the time. The amended structure consists of a $500 million revolving credit facility, which can be utilized to support growth of the Company’s asset base as well as general corporate purposes (the “$500 Million Revolver”). The maturity date of the $500 Million Revolver is November 29, 2028. ​ As of June 30, 2025, there was $299,759 availability under the $500 Million Revolver. Total debt repayments of $0 and $65,000 were made during the three months ended June 30, 2025 and 2024, respectively, under the $500 Million Revolver. Total debt repayments of $0 and $95,000 were made during the six months ended June 30, 2025 and 2024, respectively, under the $500 Million Revolver. ​ As of June 30, 2025, the Company was in compliance with all of the financial covenants under the $500 Million Revolver. ​ Interest rates ​ The following table sets forth the effective interest rate associated with the interest expense for the Company’s debt facility noted above, including the cost associated with unused commitment fees, if applicable. The effective interest rate below does not include the effect of any interest rate cap agreements. The following table also includes the range of interest rates on the debt, excluding the impact of unused commitment fees and any interest rate cap agreements, if applicable: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the Three Months Ended | ​ | For the Six Months Ended
​ | ​ | June 30, | ​ | June 30,
​ | ​ | 2025 | ​ | 2024 | ​ | ​ | 2025 | ​ | 2024 | ​
Effective Interest Rate | ​ | 9.00 | % | 9.24 | % | ​ | 9.07 | % | 8.70 | %
Range of Interest Rates (excluding unused commitment fees) | ​ | 6.22% to 6.23 | % | 7.17% to 7.19 | % | ​ | 6.21% to 6.24 | % | 7.17 % to 7.21 | %
​

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A Reference 2: http://www.xbrl.org/2003/role/disclosureRef 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