13 unchanged sentences
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.
−Removed: As of September 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:
−Removed: September 30, 2025 March 31, 2025
+Added: As of December 31, 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: December 31, 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 six months ended September 30, 2025 from those included in our Annual Report.
+Added: There have been no material changes in the quantitative and qualitative market risk disclosures during the nine months ended December 31, 2025 from those included in our Annual Report.
+Added: 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 December 31, 2025 and no further actions are taken to alter our existing interest rate sensitivity.
+Added: Basis Point Change Increase (Decrease)
+Added: in Interest Income Increase (Decrease) in Interest Expense Net Increase (Decrease) in Net Assets Resulting from Operations
+Added: Up 150 basis points $ 6,451 $ 1,957 $ 4,494
+Added: Up 100 basis points $ 3,767 $ 1,305 $ 2,462
+Added: Up 50 basis points $ 1,616 $ 652 $ 964
+Added: Down 50 basis points $ (1,386) $ (652) $ (734)
+Added: Down 100 basis points $ (2,667) $ (1,305) $ (1,362)
+Added: Down 150 basis points $ (3,723) $ (1,957) $ (1,766)
+Added: 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.
+Added: Accordingly, actual results could differ significantly from those in the hypothetical analysis in the table above.
+Added: We may also experience risk associated with investing in securities of companies with foreign operations.
+Added: Some of our portfolio companies have operations located outside the U.S.
+Added: These risks include, but are not limited to, fluctuations in foreign currency exchange rates, potential tariffs, imposition of foreign taxes, changes in exportation regulations and political and social instability.
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.