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 public health emergencies;
+Added: conditions affecting the general economy;
overall market changes;
2 unchanged sentences
The primary risk we believe we are exposed to is interest rate risk.
−Removed: Because we borrow money to make investments, our net investment income is dependent upon the difference between the rates at which we borrow funds, such as under the Credit Facility (which is variable) and our unsecured notes (which are fixed), and the rates at which we invest those funds.
+Added: Because we borrow money to make investments, our net investment income is dependent upon the difference between the rates at which we borrow funds, such as under our Credit Facility (which is variable) and our unsecured notes (which are fixed), and the rates at which we invest those funds.
As a result, there can be no assurance that a significant change in market interest rates will not have a material adverse effect on our net investment income.
2 unchanged sentences
Such techniques may include various interest rate hedging activities to the extent permitted by the 1940 Act.
−Removed: We target to have approximately 90% of the loans in our portfolio at variable rates or variable rates with a floor mechanism, and up to approximately 10% at fixed rates.
−Removed: As of December 31, 2024 and March 31, 2024, all of our variable-rate loans have rates associated with the current 30-day SOFR rate, and our total debt investment portfolio consisted of the following breakdown based on the principal balance:
−Removed: December 31, 2024 March 31, 2024
+Added: We target to have approximately 90% of the loans in our portfolio at variable rates or variable rates with a floor mechanism, and approximately up to 10% at fixed rates.
+Added: As of June 30, 2025 and March 31, 2025, all of our variable-rate loans had rates associated with the current 30-day SOFR rate, and our total debt investment portfolio consisted of the following breakdown based on the principal balance:
+Added: June 30, 2025 March 31, 2025
Variable rates with a floor 100.0 % 100.0 %
1 unchanged sentence
Total 100.0 % 100.0 %
−Removed: There have been no material changes in the quantitative and qualitative market risk disclosures during the nine months ended December 31, 2024 from those included in our Annual Report.
+Added: There have been no material changes in the quantitative and qualitative market risk disclosures during the three months ended June 30, 2025 from those included in our Annual Report.
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.