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Debt (Tables)
12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Instruments

The key terms of these facilities were as follows:

 

Facility

 

Currency

 

Interest rate (1)

 

Effective Interest Rate (2)

 

Facility maturity date

 

Principal outstanding at December 31, 2025
(Local Currency)

 

 

Principal outstanding at December 31, 2025
(USD)

 

Term Loan Facility (USD) (3)

 

USD

 

USD SOFR + 0.11%(4) + 2.75% (0.5% floor)

 

7.6%

 

Jun-28

 

 

818,684

 

 

$

818,684

 

Term Loan Facility (EUR) (5)

 

EUR

 

EURIBOR + 3.00% (0% floor)

 

5.8%

 

Jun-28

 

 

586,281

 

 

 

688,527

 

Secured Loan Notes (EUR)

 

EUR

 

3.00%

 

3.2%

 

Jun-29

 

 

421,362

 

 

 

494,847

 

Secured Loan Notes (USD)

 

USD

 

4.00%

 

4.2%

 

Jun-29

 

 

337,206

 

 

 

337,206

 

Revolving Credit Facility (USD)

 

USD

 

BASE + 0.10%(4) + 2.25% (0% floor)

 

6.1%

 

Dec-27

 

 

97,000

 

 

 

97,000

 

Revolving Credit Facility (EUR)

 

EUR

 

BASE + 2.25% (0% floor)

 

4.2%

 

Dec-27

 

 

110,000

 

 

 

129,184

 

Line of Credit

 

USD

 

Term SOFR (6) + 2.70%

 

6.7%

 

Jul-27

 

 

74,000

 

 

 

74,000

 

Total Principal Outstanding

 

 

 

 

 

 

 

 

 

 

 

 

$

2,639,448

 

 

(1)
For facilities which utilize the EURIBOR and SOFR rates, a rate floor of 0% and 0.5% applies, respectively.
(2)
The effective interest rate is as of December 31, 2025.
(3)
Represents Term Loan Facility (USD) and USD Incremental Term Loan as defined under the current facilities.
(4)
Represents a credit spread adjustment to reflect the historical difference between LIBOR and SOFR.
(5)
Represent Term Loan Facility (EUR) and EUR Incremental Term Loan as defined under the current facilities.
(6)
The Term Secured Overnight Financing Rate ("Term SOFR") is the forward-looking term rate based on the SOFR. The Term SOFR is administered by the CME Group Benchmark Association Limited.
Schedule of Long-Term Debt

 

 

As of December 31,

 

 

 

2025

 

 

2024

 

Principal outstanding

 

$

2,639,448

 

 

$

2,390,689

 

Unamortized debt issuance cost

 

 

(24,220

)

 

 

(27,141

)

Total

 

 

2,615,228

 

 

 

2,363,548

 

Short-term debt

 

 

10,190

 

 

 

10,190

 

Long-term debt

 

$

2,605,038

 

 

$

2,353,358

 

Schedule of Maturities of Non Current Debt

Maturity requirements on non-current debt as of December 31, 2025 by year are as follows:

 

Years ending December 31,

 

 

 

2026

 

$

10,190

 

2027

 

 

310,374

 

2028

 

 

1,486,831

 

2029

 

 

832,053

 

Total

 

$

2,639,448