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v3.23.2

Borrowings (Tables) | 9 Months Ended
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Jun. 30, 2023
Borrowings [Abstract] |
Schedule of Debt Issuance Costs | The Company’s outstanding debt excluding debt issuance costs as of June 30, 2023 and September 30, 2022 were as follows (dollars in thousands):
|  | June 30, 2023 |  |  | September 30, 2022 |
|  | Aggregate Principal Available |  |  | Principal Amount Outstanding |  |  | Carrying Value |  |  | Fair Value |  |  | Aggregate Principal Available |  |  | Principal Amount Outstanding |  |  | Carrying Value |  |  | Fair Value |
2023 Notes |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 22,522 |  |  | $ | 22,522 |  |  | $ | 22,483 |  |  | $ | 22,378 |
2028 Notes |  |  | 57,500 |  |  |  | 57,500 |  |  |  | 55,718 |  |  |  | 50,140 |  |  |  | 57,500 |  |  |  | 57,500 |  |  |  | 55,480 |  |  |  | 50,255 |
Revolving Credit Facility |  |  | 28,242 |  |  |  | 28,242 |  |  |  | 28,242 |  |  |  | 28,242 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total debt |  | $ | 85,742 |  |  | $ | 85,742 |  |  | $ | 83,960 |  |  | $ | 78,382 |  |  | $ | 80,022 |  |  | $ | 80,022 |  |  | $ | 77,963 |  |  | $ | 72,633 |
Schedule of Consolidated Statements of Assets and Liabilities | Debt issuance costs related to the Notes are reported on the Consolidated Statements of Assets and Liabilities as a direct deduction from the face amount of the Notes. As of June 30, 2023 and September 30, 2022, debt issuance costs related to the Notes were as follows (dollars in thousands):
|  | June 30, 2023 |  |  | September 30, 2022 |
|  | 2023 Notes |  |  | 2028 Notes |  |  | Total |  |  | 2023 Notes |  |  | 2028 Notes |  |  | Total |
Total debt issuance cost at the beginning of the period |  | $ | 20 |  |  | $ | 1,865 |  |  | $ | 1,885 |  |  | $ | 3,102 |  |  | $ | 2,311 |  |  | $ | 5,413 |
Amortized debt issuance costs |  |  | 20 |  |  |  | 83 |  |  |  | 103 |  |  |  | 3,063 |  |  |  | 291 |  |  |  | 3,354 |
Unamortized debt issuance costs |  | $ | - |  |  | $ | 1,782 |  |  | $ | 1,782 |  |  | $ | 39 |  |  | $ | 2,020 |  |  | $ | 2,059 |
Schedule of Interest Expense, Amortized Debt Issuance Costs, Weighted Average Stated Interest Rate and Weighted Average Outstanding Debt | For the three and nine months ended June 30, 2023 and 2022, the components of interest expense, amortized debt issuance costs, weighted average stated interest rate and weighted average outstanding debt balance for the Notes were as follows (dollars in thousands):
|  | For the Three Months Ended June 30, |  |  | For the Nine Months Ended June 30, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
2023 Notes Interest |  | $ | - |  |  | $ | 345 |  |  | $ | 820 |  |  | $ | 1,060 |
2028 Notes Interest |  |  | 772 |  |  |  | 755 |  |  |  | 1,894 |  |  |  | 1,486 |
Credit facility interest |  |  | 477 |  |  |  | - |  |  |  | 830 |  |  |  | - |
Amortization of debt issuance costs |  |  | 83 |  |  |  | 121 |  |  |  | 287 |  |  |  | 163 |
Total |  | $ | 1,332 |  |  | $ | 1,221 |  |  | $ | 3,831 |  |  | $ | 2,709 |
Weighted average stated interest rate |  |  | 6.0 | % |  |  | 6.2 | % |  |  | 5.8 | % |  |  | 6.0 | %
Weighted average debt outstanding |  | $ | 83,061 |  |  | $ | 80,022 |  |  | $ | 81,227 |  |  | $ | 90,863 |

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