7 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 our Credit Facility (which is variable) and the 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.
8 unchanged sentences
Total 100.0 % 100.0 %
−Removed: We had no borrowings outstanding under our Credit Facility as of March 31, 2025 and $67.0 million borrowings outstanding as of March 31, 2024.
+Added: We had $23.9 million of borrowings outstanding under our Credit Facility as of March 31, 2026 and no borrowings outstanding as of March 31, 2025 .
+Added: As of March 31, 2026, the 5.00% 2026 Notes, 4.875% 2028 Notes, 6.875% 2028 Notes, 7.875% 2030 Notes, and 7.125% 2031 Notes had outstanding principal balances of $127.9 million, $134.6 million, $60.0 million, $126.5 million and $100.0 million , respectively.
As of March 31, 2025 , the 5.00% 2026 Notes, 4.875% 2028 Notes, 8.00% 2028 Notes and 7.875% 2030 Notes had outstanding principal balances of $127.9 million, $134.6 million, $74.8 million and $126.5 million , respectively.
−Removed: As of March 31, 2024 , the 5.00% 2026 Notes, 4.875% 2028 Notes and 8.00% 2028 Notes had outstanding principal balances of $127.9 million, $134.6 million and $74.8 million , respectively.
Advances under the Credit Facility generally bear interest at 30-day Term SOFR, subject to a floor of 0.35%, with a SOFR credit spread adjustment of 10 basis points, plus a margin of 3.15% per annum until October 30, 2026, with the margin then increasing to 3.40% for the period from October 30, 2026 to October 30, 2027, and increasing further to 3.65% thereafter.
15 unchanged sentences
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.