Quarterly report pursuant to Section 13 or 15(d)

BORROWINGS - Schedule of Line of Credit Facilities (Details)

v3.22.4
BORROWINGS - Schedule of Line of Credit Facilities (Details) - USD ($)
 3 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Sep. 30, 2022
May 13, 2022
May 12, 2022
Debt Instrument [Line Items]          
Line of credit outstanding, at cost $ 108,400,000   $ 141,800,000    
Availability [1],[2],[3],[4],[5]     4,000,000    
Credit Facility | Revolving Line of Credit | Line of Credit          
Debt Instrument [Line Items]          
Commitment amount 245,000,000   225,000,000 $ 175,000,000 $ 205,000,000
Line of credit outstanding, at cost 108,400,000   141,800,000    
Availability 111,868,000   $ 60,068,000    
Weighted average borrowings outstanding, at cost $ 129,062,000 $ 32,967,000      
Weighted average interest rate 6.90% 7.50%      
Commitment (unused) fees incurred $ 156,000 $ 335,000      
[1] Unless indicated otherwise, all of our investments are valued using Level 3 inputs within the ASC 820 fair value hierarchy. Refer to Note 3—Investments in the accompanying Notes to Consolidated Financial Statements for additional information.
[2] Certain of the securities listed in this schedule are issued by affiliate(s) of the indicated portfolio company. The majority of the securities listed, totaling $577.6 million at fair value, are pledged as collateral under our revolving line of credit, as described further in Note 5—Borrowings in the accompanying Notes to Consolidated Financial Statements. Under the Investment Company Act of 1940, as amended (the “1940 Act”), we may not acquire any non-qualifying assets unless, at the time such acquisition is made, qualifying assets represent at least 70% of our total assets. As of September 30, 2022, our investments in Leeds Novamark Capital I, L.P. (“Leeds”) and Funko Acquisition Holdings, LLC (“Funko”) are considered non-qualifying assets under Section 55 of the 1940 Act. Such non-qualifying assets represent 1.0% of total investments, at fair value, as of September 30, 2022.
[3] Category percentages represent the fair value of each category and subcategory as a percentage of net assets as of September 30, 2022.
[4] Fair value was based on an internal yield analysis or on estimates of value submitted by ICE Data Pricing and Reference Data, LLC (“ICE”).
[5] Unless indicated otherwise, all cash interest rates are indexed to 30-day London Interbank Offered Rate (“LIBOR” or “L”), which was 3.14% as of September 30, 2022. If applicable, paid-in-kind (“PIK”) interest rates are noted separately from the cash interest rate. Certain securities are subject to an interest rate floor. The cash interest rate is the greater of the floor or LIBOR plus a spread. Due dates represent the contractual maturity date.