2 unchanged sentences
The prices of securities held by us may decline in response to certain events, including those directly involving the companies whose securities are owned by us;
−Removed: conditions affecting the general economy, including COVID-19 or other health emergencies;
+Added: conditions affecting the general economy;
overall market changes;
5 unchanged sentences
We use a combination of debt and equity capital to finance our investing activities.
−Removed: Table of Content s
We may use interest rate risk management techniques to limit our exposure to interest rate fluctuations.
6 unchanged sentences
Total 100.0 % 100.0 %
−Removed: We had no outstanding borrowings under the Credit Facility as of March 31, 2022 and $22.4 million as of March 31, 2021.
−Removed: Our 2026 Notes had an outstanding principal balance of $127.9 million as of March 31, 2022 and 2021.
−Removed: Our 2028 Notes had an outstanding principal balance of $134.6 million as of March 31, 2022.
−Removed: Our then existing mandatorily redeemable preferred stock had an outstanding aggregate liquidation preference of $94.4 million as of March 31, 2021.
+Added: We had $35.2 million of outstanding borrowings under the Credit Facility as of March 31, 2023 and no outstanding borrowings as of March 31, 2022.
+Added: Our 2026 Notes and 2028 Notes had an outstanding principal balance of $127.9 million and $134.6 million, respectively, as of March 31, 2023 and 2022.
Advances under the Credit Facility generally bear interest at 30-day LIBOR, subject to a floor of 0.50%, plus 2.85% per annum until February 29, 2024, with the margin then increasing to 3.10% for the period from February 29, 2024 to February 28, 2025, and increasing further to 3.35% thereafter.
1 unchanged sentence
To illustrate the potential impact of changes in interest rates, we have performed the following hypothetical analysis, which assumes that our balance sheet and interest rates remain constant as of March 31, 2023 and no further actions are taken to alter our existing interest rate sensitivity.
−Removed: Basis Point Change(A) Increase (Decrease)
+Added: Basis Point Change Increase (Decrease)
in Interest Income Increase (Decrease) in Interest Expense Net Increase (Decrease) in Net Assets Resulting from Operations
3 unchanged sentences
Down 100 basis points $ (4,958)
−Removed: (A) As of March 31, 2022, our effective average LIBOR was 0.45%;
−Removed: therefore, the largest decrease in basis points that could occur was 45 basis points.
−Removed: As this decrease is below the LIBOR floors of our loan portfolio and our Credit Facility as of March 31, 2022, such decrease would not impact the categories listed above.
+Added: Down 200 basis points $ (9,800)
+Added: Down 300 basis points $ (13,460)
Although management believes that this analysis is indicative of our existing interest rate sensitivity, it does not adjust for potential changes in credit quality, size and composition of our loan portfolio on the balance sheet and other business developments, including portfolio company defaults, that could affect net increase (decrease) in net assets resulting from operations.
3 unchanged sentences
These risks include, but are not limited to, fluctuations in foreign currency exchange rates, imposition of foreign taxes, changes in exportation regulations and political and social instability.
−Removed: Table of Content s
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.