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BORROWINGS (Tables)
3 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
Schedule of Information Related to the Credit Facility
The following tables summarize noteworthy information related to our Credit Facility:
As of June 30, 2025
As of March 31, 2025
Commitment amount$270,000$270,000
Borrowings outstanding at cost$62,000$
Availability(A)
$208,000$270,000
For the Three Months Ended June 30,
20252024
Weighted-average borrowings outstanding$36,318 $64,746 
Effective interest rate(B)
14.0%10.8%
Unused commitment fees incurred
$592 $342 
(A)Availability is subject to various constraints, characteristics and applicable advance rates based on collateral quality under our Credit Facility, which equated to an adjusted availability of $208.0 million and $270.0 million as of June 30, 2025 and March 31, 2025, respectively.
(B)Excludes the impact of deferred financing costs and includes unused commitment fees.
Schedule of Recurring Fair Value Measurements of Borrowings Using Significant Unobservable Level 3 Inputs
The following tables provide relevant information and disclosures about our Credit Facility as of June 30, 2025 and March 31, 2025 and for the three months ended June 30, 2025 and 2024, as required by ASC 820:

Level 3 – Borrowings
Recurring Fair Value Measurements
Reported in Consolidated
Statements of Assets and Liabilities Using Significant Unobservable Inputs (Level 3)
June 30, 2025March 31, 2025
Credit Facility$62,269 $— 
Fair Value Measurements of Borrowings Using Significant Unobservable Inputs (Level 3)
 Reported in Consolidated Statements of Assets and Liabilities
Credit Facility
Three Months Ended June 30, 2025:
Fair value at March 31, 2025
$— 
Borrowings77,500 
Repayments(15,500)
Unrealized appreciation269 
Fair value at June 30, 2025
$62,269 
Fair Value Measurements of Borrowings Using Significant Unobservable Inputs (Level 3)
Reported in Consolidated Statements of Assets and Liabilities
Credit Facility
Three Months Ended June 30, 2024:
Fair value at March 31, 2024
$67,000 
Borrowings16,300 
Repayments(19,600)
Fair value at June 30, 2024
$63,700 
Schedule of Debt
The following tables summarize our 5.00% 2026 Notes, 4.875% 2028 Notes, 8.00% 2028 Notes and 7.875% 2030 Notes as of June 30, 2025 and March 31, 2025:

As of June 30, 2025:
DescriptionTicker
Symbol
Date Issued
Maturity Date(A)
Interest
Rate
Notes
Outstanding
Principal
Amount per
Note
Aggregate
Principal Amount
5.00% 2026 Notes
GAINNMarch 2, 2021May 1, 20265.00%5,117,500$25.00 $127,938 
4.875% 2028 Notes
GAINZAugust 18, 2021November 1, 20284.875%5,382,000$25.00 134,550 
8.00% 2028 Notes
GAINLMay 31, 2023August 1, 20288.00%2,990,000$25.00 74,750 
7.875% 2030 Notes
GAINIDecember 17, 2024February 1, 20307.875%5,060,000$25.00 126,500 
Notes payable, gross(B)
18,549,500463,738 
Less: Unamortized Discounts(7,382)
Notes payable, net(C)
$456,356 
As of March 31, 2025:
DescriptionTicker
Symbol
Date Issued
Maturity Date(A)
Interest
Rate
Notes
Outstanding
Principal
Amount per
Note
Aggregate
Principal Amount
5.00% 2026 Notes
GAINNMarch 2, 2021May 1, 20265.00%5,117,500$25.00 $127,938 
4.875% 2028 Notes
GAINZAugust 18, 2021November 1, 20284.875%5,382,000$25.00 134,550 
8.00% 2028 Notes
GAINLMay 31, 2023August 1, 20288.00%2,990,000$25.00 74,750 
7.875% 2030 Notes
GAINIDecember 17, 2024February 1, 20307.875%5,060,000$25.00 126,500 
Notes payable, gross(B)
18,549,500463,738 
Less: Unamortized Discounts(8,029)
Notes payable, net(C)
$455,709 
(A)The 5.00% 2026 Notes, the 4.875% 2028 Notes and the 8.00% 2028 Notes can be redeemed at our option at any time. The 7.875% 2030 Notes can be redeemed at our option at any time on or after February 1, 2027.
(B)As of June 30, 2025 and March 31, 2025, asset coverage on our senior securities representing indebtedness, calculated pursuant to Sections 18 and 61 of the 1940 Act, was 189.8% and 204.4%, respectively.
(C)Reflected as a line item on our accompanying Consolidated Statements of Assets and Liabilities.