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Debt | 9 Months Ended
--- | ---
Sep. 30, 2025
Debt Disclosure [Abstract] |
Debt | 4. Debt Debt is comprised of unsecured notes due February 2026 issued by the Company (the “2026 Notes”), unsecured notes due May 2029 issued by the Company (the “2029 Notes”), amounts outstanding under a senior secured revolving, multi-currency credit facility entered into by SVCP (the “Operating Facility”), amounts outstanding under a senior secured revolving credit facility entered into by TCPC Funding II (“Funding Facility II”), amounts outstanding under a senior secured revolving credit facility originally entered into by BCIC and assumed by Merger Sub (“Merger Sub Facility”), and debentures guaranteed by the SBA (the “SBA Debentures”). Prior to being repaid on July 31, 2025, debt included $92.0 million in unsecured notes which were due December 2025 originally issued by BCIC and assumed by Merger Sub (the “2025 Notes”) and $250.0 million in senior unsecured notes due August 2024 issued by the Company (the “2024 Notes”) which was repaid on August 23, 2024. Total debt outstanding and available at September 30, 2025 was as follows:
Debt, net of unamortized issuance costs |  | Maturity |  | Rate |  |  | Carrying Value (1) |  |  | Available |  |  | Total Capacity |  |
Operating Facility |  | 2029 |  | SOFR+2.00% | (2) |  | $ | 151,942,500 |  |  | $ | 148,057,500 |  |  | $ | 300,000,000 |  | (3)
Funding Facility II |  | 2029 |  | SOFR+2.00% | (4) |  |  | 100,000,000 |  |  |  | 100,000,000 |  |  |  | 200,000,000 |  | (5)
Merger Sub Facility(6) |  | 2028 |  | SOFR+2.00% | (7) |  |  | 47,000,000 |  |  |  | 218,000,000 |  |  |  | 265,000,000 |  | (8)
SBA Debentures |  | 2026−2031 |  | 2.41% | (9) |  |  | 111,200,000 |  |  |  | — |  |  |  | 111,200,000 |  |
2026 Notes ($325 million par) |  | 2026 |  | 2.85% |  |  |  | 325,111,245 |  |  |  | — |  |  |  | 325,111,245 |  |
2029 Notes ($325 million par) |  | 2029 |  | 6.95% |  |  |  | 322,229,902 |  |  |  | — |  |  |  | 322,229,902 |  |
Total leverage |  |  |  |  |  |  |  | 1,057,483,647 |  |  | $ | 466,057,500 |  |  | $ | 1,523,541,147 |  |
Unamortized issuance costs |  |  |  |  |  |  |  | (5,868,338 | ) |  |  |  |  |  |  |
Debt, net of unamortized issuance costs |  |  |  |  |  |  | $ | 1,051,615,309 |  |  |  |  |  |  |  |
(1) Except for the 2026 Notes and 2029 Notes all carrying values are the same as the principal amounts outstanding. (2) The outstanding amount was subject to a SOFR credit adjustment of 0.10%. (3) Operating Facility includes a $100.0 million accordion which allows for expansion of the facility to up to $400.0 million subject to consent from the lender and other customary conditions. (4) Subject to certain funding requirements and a SOFR credit adjustment of 0.15%. (5) Funding Facility II includes a $50.0 million accordion which allows for expansion of the facility to up to $250.0 million subject to consent from the lender and other customary conditions. (6) Debt assumed by the Company as a result of the Merger with BCIC. (7) The applicable margin for SOFR-based borrowings could be either 1.75% or 2.00% depending on a ratio of the borrowing base to certain committed indebtedness, and is also subject to a credit spread adjustment of 0.10%. If Merger Sub elects to borrow based on the alternate base rate, the applicable margin could be either 0.75% or 1.00% depending on a ratio of the borrowing base to certain committed indebtedness. (8) Merger Sub Facility includes a $60.0 million accordion which allows for expansion of the facility to up to $325.0 million subject to consent from the lender and other customary conditions. (9) Weighted-average interest rate, excluding fees of 0.35% or 0.36%. Total debt outstanding and available at December 31, 2024 was as follows:
Debt, net of unamortized issuance costs |  | Maturity |  | Rate |  |  | Carrying Value (1) |  |  | Available |  |  | Total Capacity |  |
Operating Facility |  | 2029 |  | SOFR+2.00% | (2) |  | $ | 120,670,788 |  |  | $ | 179,329,212 |  |  | $ | 300,000,000 |  | (3)
Funding Facility II |  | 2027 |  | SOFR+2.05% | (4) |  |  | 75,000,000 |  |  |  | 125,000,000 |  |  |  | 200,000,000 |  | (5)
Merger Sub Facility(6) |  | 2028 |  | SOFR+2.00% | (7) |  |  | 60,000,000 |  |  |  | 205,000,000 |  |  |  | 265,000,000 |  | (8)
SBA Debentures |  | 2025−2031 |  | 2.45% | (9) |  |  | 131,500,000 |  |  |  | 10,000,000 |  |  |  | 141,500,000 |  |
2025 Notes ($92 million par)(6) |  | 2025 |  | Fixed/Variable | (10) |  |  | 92,000,000 |  |  |  | — |  |  |  | 92,000,000 |  |
2026 Notes ($325 million par) |  | 2026 |  | 2.85% |  |  |  | 325,398,402 |  |  |  | — |  |  |  | 325,398,402 |  |
2029 Notes ($325 million par) |  | 2029 |  | 6.95% |  |  |  | 321,745,636 |  |  |  | — |  |  |  | 321,745,636 |  |
Total leverage |  |  |  |  |  |  |  | 1,126,314,826 |  |  | $ | 519,329,212 |  |  | $ | 1,645,644,038 |  |
Unamortized issuance costs |  |  |  |  |  |  |  | (7,974,601 | ) |  |  |  |  |  |  |
Debt, net of unamortized issuance costs |  |  |  |  |  |  | $ | 1,118,340,225 |  |  |  |  |  |  |  |
(1) Except for the 2026 Notes and the 2029 Notes, all carrying values are the same as the principal amounts outstanding. (2) As of December 31, 2024, $113.0 million of the outstanding amount was subject to a SOFR credit adjustment of 0.10%. $7.7 million of the outstanding amount bore interest at a rate of EURIBOR + 2.00%. 4. Debt — (continued) (3) Operating Facility includes a $100.0 million accordion which allows for expansion of the facility to up to $400.0 million subject to consent from the lender and other customary conditions. (4) Subject to certain funding requirements and a SOFR credit adjustment of 0.15%. (5) Funding Facility II includes a $50.0 million accordion which allows for expansion of the facility to up to $250.0 million subject to consent from the lender and other customary conditions. (6) Debt assumed by the Company as a result of the Merger with BCIC. (7) The applicable margin for SOFR-based borrowings could be either 1.75% or 2.00% depending on a ratio of the borrowing base to certain committed indebtedness, and is also subject to a credit spread adjustment of 0.10%. If Merger Sub elects to borrow based on the alternate base rate, the applicable margin could be either 0.75% or 1.00% depending on a ratio of the borrowing base to certain committed indebtedness. (8) Merger Sub Facility includes a $60.0 million accordion which allows for expansion of the facility to up to $325.0 million subject to consent from the lender and other customary conditions. (9) Weighted-average interest rate, excluding fees of 0.35% or 0.36%. (10) The 2025 Notes consist of two tranches: $35.0 million aggregate principal amount with a fixed interest rate of 6.85% and $57.0 million aggregate principal amount bearing interest at a rate equal to SOFR plus 3.14% The combined weighted-average interest rates on total debt outstanding at September 30, 2025 and December 31, 2024 were 4.98% and 5.19%, respectively. Total expenses related to debt included the following:
|  | Nine Months Ended September 30, |
|  | 2025 |  |  | 2024 |
Interest expense |  | $ | 45,679,648 |  |  | $ | 49,848,875 |
Amortization of deferred debt issuance costs |  |  | 3,994,405 |  |  |  | 3,371,840 |
Commitment fees |  |  | 1,315,360 |  |  |  | 896,889 |
Total |  | $ | 50,989,413 |  |  | $ | 54,117,604 |
Outstanding debt is carried at amortized cost in the Consolidated Statements of Assets and Liabilities. As of September 30, 2025, the estimated fair values of the Operating Facility, as defined in Note 4, Funding Facility II and the SBA Debentures approximated their carrying values and the estimated fair value of the Merger Sub Facility was $43.2 million. As of September 30, 2025, the 2026 Notes and the 2029 Notes had estimated fair values of $321.1 million and $334.7 million, respectively. As of December 31, 2024, the estimated fair values of the Operating Facility, Funding Facility II and the SBA Debentures approximated their carrying values and the estimated fair value of the Merger Sub Facility was $55.5 million. As of December 31, 2024, the 2025 Notes, the 2026 Notes and the 2029 Notes had estimated fair values of $92.7 million, $315.9 million and $338.8 million, respectively. The estimated fair values of the Operating Facility, Funding Facility II and the SBA Debentures were determined by discounting projected remaining payments using market interest rates for borrowings of the Company and entities with similar credit risks at the measurement date. The estimated fair value of the Merger Sub Facility was derived by taking the average of the high and low quotes as obtained from a broker. The estimated fair values of the 2026 Notes and 2029 Notes were determined using market quotations, and the estimated fair value of the 2025 Notes was derived by an independent valuation firm. The estimated fair values of the Operating Facility, Funding Facility II, Merger Sub Facility, 2025 Notes, 2026 Notes, 2029 Notes and SBA Debentures as prepared for disclosure purposes were deemed to be Level 3 in the GAAP valuation hierarchy. Unsecured Notes On August 23, 2019, the Company issued $150.0 million of unsecured notes. On November 26, 2019, the Company issued an additional $50.0 million of the 2024 Notes and on October 2, 2020, the Company issued an additional $50.0 million of the 2024 Notes for a total outstanding aggregate principal amount of $250.0 million. The 2024 Notes were issued at a discount to the principal amount and bore interest at an annual rate of 3.900%, payable semi-annually. On August 23, 2024, the 2024 Notes matured and all principal was repaid. On February 9, 2021, the Company issued $175.0 million of unsecured notes that mature on February 9, 2026, unless previously repurchased or redeemed in accordance with their terms. The 2026 Notes were issued at a discount to the principal amount. On August 27, 2021, the Company issued an additional $150.0 million of the 2026 Notes, at a premium to par, for a total outstanding aggregate principal amount of $325.0 million. The 2026 Notes bear interest at an annual rate of 2.850%, payable semi-annually, and all principal is due upon maturity. The 2026 Notes may be redeemed in whole or part at the Company's option at a redemption price equal to par plus a “make whole” premium, as determined pursuant to the indenture governing the 2026 Notes, and any accrued and unpaid interest. 4. Debt — (continued) On March 18, 2024, Merger Sub entered into an assumption agreement (the “Note Assumption Agreement”), effective as of the Closing. The Note Assumption Agreement relates to Merger Sub’s assumption of (a) $35.0 million aggregate principal amount of BCIC’s 6.85% Series 2022A Senior Notes, Tranche A, due December 9, 2025 (the “Tranche A Notes”) and (b) $57.0 million aggregate principal amount of BCIC’s Floating Rate Series 2022A Senior Notes, Tranche B due December 9, 2025 (the “Tranche B Notes” and, collectively with the Tranche A Notes, the “2025 Notes”) and other obligations of BCIC under the Master Note Purchase Agreement, dated as of April 21, 2022 (as amended by the First Amendment to the Master Note Purchase Agreement, dated as of March 13, 2024 (the “First Amendment”), and as further amended, supplemented or otherwise modified from time to time, the “Note Purchase Agreement”), among BCIC and certain institutional investors. Pursuant to the Note Assumption Agreement, Merger Sub expressly assumed on behalf of BCIC the due and punctual payment of the principal of (and premium, if any) and interest on all the 2025 Notes outstanding, and the due and punctual performance and observance of every covenant and every condition of the Note Purchase Agreement and the 2025 Notes, to be performed or observed by BCIC. The Tranche A Notes bear interest at a fixed rate equal to 6.85% per annum (which was increased from 5.82% per annum effective as of the Closing) that is payable semi-annually. The Tranche B Notes bear interest at a rate equal to the SOFR plus 3.14% that is payable quarterly. The 2025 Notes will be due on December 9, 2025 unless redeemed, purchased or prepaid prior to such date by Merger Sub or its affiliates in accordance with their terms. Merger Sub may prepay the 2025 Notes at its option, subject to a prepayment premium, in an amount equal to 1% on or before June 9, 2024, 0.5% after June 9, 2024 but on or before June 9, 2025 and zero after June 9, 2025. In addition, Merger Sub will be obligated to offer to repay the 2025 Notes at par if certain change in control events occur. On July 21, 2025, the Company caused notices to be issued to the holders of the 2025 Notes regarding the Company’s exercise of its option to prepay $35.0 million in aggregate principal amount of issued and outstanding Tranche A Notes and $57.0 million in aggregate principal amount of issued and outstanding Tranche B Notes, which represent the entire amount of the 2025 Notes outstanding, pursuant to the terms of the Note Assumption Agreement. The Company prepaid all $35.0 million in aggregate principal amount of the Tranche A Notes and $57.0 million in aggregate principal amount of the Tranche B Notes on July 31, 2025, at 100% of their principal amount, plus the accrued and unpaid interest thereon in accordance with the terms of the Note Assumption Agreement. On May 30, 2024, the Company issued $325.0 million of unsecured notes that mature on May 30, 2029, unless previously repurchased or redeemed in accordance with their terms. The 2029 Notes were issued at a discount to the principal amount. The 2029 Notes bear interest at an annual rate of 6.95%, payable semi-annually, and all principal is due upon maturity. The 2029 Notes may be redeemed in whole or part at the Company's option at a redemption price equal to par plus a “make whole” premium, as determined pursuant to the indenture governing the 2029 Notes, and any accrued and unpaid interest. As of September 30, 2025 and December 31, 2024, the components of the carrying value of 2025 Notes, 2026 Notes and 2029 Notes were as follows:
|  | September 30, 2025 |  |  | December 31, 2024 |
|  | 2025 Notes |  | 2026 Notes |  |  | 2029 Notes |  |  | 2025 Notes |  |  | 2026 Notes |  |  | 2029 Notes |
Principal amount of debt |  | N/A |  | $ | 325,000,000 |  |  | $ | 325,000,000 |  |  | $ | 92,000,000 |  |  | $ | 325,000,000 |  |  | $ | 325,000,000 |
Original issue (discount)/ premium, net of accretion |  | N/A |  |  | 111,245 |  |  |  | (2,770,098 | ) |  |  | — |  |  |  | 398,402 |  |  |  | (3,254,364 | )
Carrying value of debt |  | N/A |  | $ | 325,111,245 |  |  | $ | 322,229,902 |  |  | $ | 92,000,000 |  |  | $ | 325,398,402 |  |  | $ | 321,745,636 |
For the nine months ended September 30, 2025 and 2024, the components of interest expense for the 2024 Notes, 2025 Notes, 2026 Notes and 2029 Notes were as follows:
|  | Nine Months Ended September 30, |
|  | 2025 |  |  | 2024 |
|  | 2025 Notes |  |  | 2026 Notes |  |  | 2029 Notes |  |  | 2024 Notes |  |  | 2025 Notes |  |  | 2026 Notes |  |  | 2029 Notes |
Stated interest expense |  | $ | 3,932,362 |  |  | $ | 6,946,875 |  |  | $ | 16,940,625 |  |  | $ | 6,283,333 |  |  | $ | 3,955,054 |  |  | $ | 6,946,875 |  |  | $ | 7,529,167 |
Amortization of original issue discount/ (premium) |  |  | — |  |  |  | (287,157 | ) |  |  | 484,267 |  |  |  | 403,991 |  |  |  | — |  |  |  | (293,659 | ) |  |  | 204,452 |
Total interest expense |  | $ | 3,932,362 |  |  | $ | 6,659,718 |  |  | $ | 17,424,892 |  |  | $ | 6,687,324 |  |  | $ | 3,955,054 |  |  | $ | 6,653,216 |  |  | $ | 7,733,619 |
4. Debt — (continued) Operating Facility The Operating Facility consists of a revolving, multi-currency credit facility which provides for amounts to be drawn up to $300.0 million, subject to certain collateral and other restrictions. The Operating Facility includes a $100.0 million accordion feature which allows for expansion of the facility to up to $400.0 million subject to consent from the lender and other customary conditions. Most of the cash and investments held directly by SVCP, as well as the assets of TCPC Funding and 36 th Street Capital Partners Holdings, LLC, are included in the collateral for the facility. On June 22, 2021, the Operating Facility was amended to (i) extend the maturity date by two years from May 6, 2024 to May 6, 2026, (ii) change the interest rate applicable to borrowings to (a) LIBOR plus an applicable margin equal to either 1.75% or 2.00%, or (b) in the case of ABR borrowings, generally the prime rate in effect plus an applicable margin of either 0.75% or 1.00% depending on a ratio of the borrowing base to the facility commitments in both cases, and (iii) reduce commitment fees on the undrawn portion of the Operating Facility above the minimum utilization amount from 0.50% per annum to 0.375% per annum. Undrawn portions of the Operating Facility below the minimum utilization amount continued to accrue commitment fees at a rate of 0.50% per annum until March 1, 2022, the date on which the March 2022 Convertible Notes were terminated in full, after which time they accrue at a rate of 2.00% per annum. On June 15, 2023, the Operating Facility was amended to update the terms of the interest rate from LIBOR to SOFR plus a credit spread adjustment of 0.11%, plus a margin equal to either 1.75% or 2.00%, depending on a ratio of the borrowing base to the facility commitments. On August 1, 2024, the Operating Facility was amended to (i) extend the expiration date of the Operating Facility and the maturity date with respect to loans made thereunder from May 6, 2025 and May 6, 2026 to August 1, 2028 and August 1, 2029, respectively, (ii) delete references to the 2022 Notes, (iii) remove certain borrowing base restrictions, (iv) lower the SOFR credit spread adjustment to 0.10% for one month contracts and 0.15% for three month contracts, respectively, (v) update the minimum amount of stockholder’s equity figure, (vi) update the “change in control” provisions to account for personnel changes and structuring variations and (vii) update certain mechanical/administrative provisions, including provisions for replacing CDOR and other reference rates. The Operating Facility may be terminated, and any outstanding amounts there under may become due and payable, should SVCP fail to satisfy certain financial or other covenants. As of September 30, 2025, SVCP was in full compliance with such covenants. Funding Facility II Funding Facility II is a senior secured revolving credit facility which provides for amounts to be drawn up to $200.0 million, subject to certain collateral and other restrictions. The facility contains an accordion feature which allows for expansion of the facility to up to $250.0 million subject to consent from the lender and other customary conditions. The cash and investments of TCPC Funding II are included in the collateral for the facility. Borrowings under Funding Facility II bore interest at a rate of LIBOR plus 2.00% per annum, subject to certain funding requirements, plus a 0.35% fee on drawn amounts and an agency fee of 0.15% per annum on the facility. The facility also accrued commitment fees of 0.35% per annum on the unused portion of the facility. Since February 28, 2023, borrowings under Funding Facility II bore interest at a rate of SOFR plus a credit spread adjustment of 0.15%, plus a margin of 2.00% per annum, which is subject to increase after the end of the revolving period or under other customary circumstances. The facility also accrues a 0.35% fee on drawn amounts and an agency fee of 0.15% per annum on the facility. The facility also accrues commitment fees of 0.35% per annum on the unused portion of the facility. On August 4, 2023, the Funding Facility II was amended to extend the maturity date from August 4, 2025 to August 4, 2027, and updated interest to a rate of SOFR plus a credit spread adjustment of 0.15%, plus a margin of 2.05%. The facility may be terminated, and any outstanding amounts thereunder may become due and payable, should TCPC Funding II fail to satisfy certain financial or other covenants. On July 31, 2025, the Funding Facility II was amended to extend the revolving period from August 4, 2025 to July 31, 2027 and the stated maturity date from August 4, 2027 to July 31, 2029. As of September 30, 2025, TCPC Funding II was in full compliance with such covenants. 4. Debt — (continued) Merger Sub Facility On March 18, 2024, Merger Sub entered into an assumption agreement (the “Credit Assumption Agreement”), effective as of the Closing. The Credit Assumption Agreement relates to Merger Sub’s assumption of that certain Second Amended and Restated Senior Secured Revolving Credit Agreement, originally entered into on February 19, 2016, as amended as of August 8, 2016, June 5, 2017, March 15, 2018, August 30, 2019, May 22, 2020, April 23, 2021, April 26, 2023 and September 6, 2023 (as further amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Merger Sub Facility”), by and among BCIC, Citibank, N.A., as administrative agent and the other parties thereto. The Merger Sub Facility provides for amounts to be drawn up to $265.0 million, by which Merger Sub may seek an increase in the commitments to $325.0 million in the aggregate (subject to satisfaction of certain conditions, including obtaining commitments). The Merger Sub Facility matures on September 6, 2028. Amounts outstanding under the Merger Sub Facility bear interest at a rate based on, at Merger Sub’s election, (i) in the case of ABR loans, a base reference rate equal to the highest of (a) the federal funds effective rate plus 0.50%, (b) the "Prime Rate" in effect on such day and (c) the adjusted term SOFR rate plus 1.00%, plus a margin ranging from 0.75% to 1.00% per annum, in the case of ABR loans, and 1.75% to 2.00% per annum, in the case of eurocurrency loans or SOFR loans, (ii) in the case of eurocurrency loans, a rate per annum equal to the adjusted CDOR rate or the adjusted EURIBOR rate, for loans denominated in Canadian dollars or in euros, respectively, plus, in either case, the Applicable Margin (as defined in the Merger Sub Facility) or (iii) in the case of SOFR loans, a rate per annum equal to the adjusted term SOFR rate plus the Applicable Margin. The Merger Sub Facility is secured by all of the assets held by Merger Sub as successor to BCIC. SBA Debentures As of September 30, 2025, the SBIC is able to issue up to $111.2 million in SBA Debentures, subject to funded regulatory capital and other customary regulatory requirements. As of September 30, 2025, SVCP had committed $87.5 million of regulatory capital to the SBIC, all of which had been funded. SBA Debentures are non-recourse and may be prepaid at any time without penalty. Once drawn, the SBIC debentures bear an interim interest rate of SOFR plus 30 basis points. The rate then becomes fixed at the time of SBA pooling, which occurs twice each year, and is set to the then-current 10-year treasury rate plus a spread and an annual SBA charge. SBA Debentures outstanding as of September 30, 2025 were as follows:
Issuance Date |  | Maturity |  | Debenture Amount |  |  | Fixed Interest Rate |  |  | SBA Annual Charge |
March 23, 2016 |  | March 1, 2026 |  | $ | 4,000,000 |  |  |  | 2.51 | % |  |  | 0.36 | %
September 21, 2016 |  | September 1, 2026 |  |  | 18,200,000 |  |  |  | 2.05 | % |  |  | 0.36 | %
September 20, 2017 |  | September 1, 2027 |  |  | 14,000,000 |  |  |  | 2.52 | % |  |  | 0.36 | %
March 21, 2018 |  | March 1, 2028 |  |  | 8,000,000 |  |  |  | 3.19 | % |  |  | 0.35 | %
September 19, 2018 |  | September 1, 2028 |  |  | 15,000,000 |  |  |  | 3.55 | % |  |  | 0.35 | %
September 25, 2019 |  | September 1, 2029 |  |  | 40,000,000 |  |  |  | 2.28 | % |  |  | 0.35 | %
September 22, 2021 |  | September 1, 2031 |  |  | 12,000,000 |  |  |  | 1.30 | % |  |  | 0.35 | %
|  |  |  | $ | 111,200,000 |  |  |  | 2.41 | % | * |  |
* Weighted-average interest rate 4. Debt — (continued) SBA Debentures outstanding as of December 31, 2024 were as follows:
Issuance Date |  | Maturity |  | Debenture Amount |  |  | Fixed Interest Rate |  |  | SBA Annual Charge |
March 25, 2015 |  | March 1, 2025 |  | $ | 9,500,000 |  |  |  | 2.52 | % |  |  | 0.36 | %
September 23, 2015 |  | September 1, 2025 |  |  | 10,800,000 |  |  |  | 2.83 | % |  |  | 0.36 | %
March 23, 2016 |  | March 1, 2026 |  |  | 4,000,000 |  |  |  | 2.51 | % |  |  | 0.36 | %
September 21, 2016 |  | September 1, 2026 |  |  | 18,200,000 |  |  |  | 2.05 | % |  |  | 0.36 | %
September 20, 2017 |  | September 1, 2027 |  |  | 14,000,000 |  |  |  | 2.52 | % |  |  | 0.36 | %
March 21, 2018 |  | March 1, 2028 |  |  | 8,000,000 |  |  |  | 3.19 | % |  |  | 0.35 | %
September 19, 2018 |  | September 1, 2028 |  |  | 15,000,000 |  |  |  | 3.55 | % |  |  | 0.35 | %
September 25, 2019 |  | September 1, 2029 |  |  | 40,000,000 |  |  |  | 2.28 | % |  |  | 0.35 | %
September 22, 2021 |  | September 1, 2031 |  |  | 12,000,000 |  |  |  | 1.30 | % |  |  | 0.35 | %
|  |  |  | $ | 131,500,000 |  |  |  | 2.45 | % | * |  |
* Weighted-average interest rate

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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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