Quarterly report pursuant to Section 13 or 15(d)

DEBT (Tables)

v3.23.2
DEBT (Tables)
 6 Months Ended
Jun. 30, 2023
Debt Disclosure [Abstract]  
Schedule of Debt
Summary of debt as of June 30, 2023 is as follows:
Outstanding Balance
Unamortized Debt Issuance
Costs (1)
Recorded Value
Estimated Fair Value (2)
(dollars in thousands)
JPM SPV Facility $ 252,688  $ —  $ 252,688  $ 252,688 
Series A Notes 150,000  (994) 149,006  137,802 
TIAA Credit Facility 85,000  —  85,000  85,000 
Total Debt $ 487,688  $ (994) $ 486,694  $ 475,490 
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(1)The unamortized debt issuance costs for the Credit Facilities are reflected as Deferred financing costs on the Consolidated Balance Sheets, while the deferred debt issuance costs related to the Series A Notes are reflected as contra liabilities to the Series A Notes on the Consolidated Balance Sheets.
(2)Estimated fair value for outstanding debt if MSC Income Fund had adopted the fair value option under ASC 825. See discussion of the methods used to estimate the fair value of MSC Income Fund’s debt in Note B.9. — Summary of Significant Accounting Policies — Fair Value of Financial Instruments.
Summary of debt as of December 31, 2022 is as follows:
Outstanding Balance
Unamortized Debt Issuance Costs (1)
Recorded Value
Estimated Fair Value (2)
(dollars in thousands)
JPM SPV Facility $ 223,688  $ —  $ 223,688  $ 223,688 
Series A Notes 150,000  (1,144) 148,856  132,955 
TIAA Credit Facility 98,000  —  98,000  98,000 
Total Debt $ 471,688  $ (1,144) $ 470,544  $ 454,643 
___________________
(1)The unamortized debt issuance costs for the Credit Facilities are reflected as Deferred financing costs on the Consolidated Balance Sheets, while the deferred debt issuance costs related to the Series A Notes are reflected as contra liabilities to the Series A Notes on the Consolidated Balance Sheets.
(2)Estimated fair value for outstanding debt if MSC Income Fund had adopted the fair value option under ASC 825. See discussion of the methods used to estimate the fair value of MSC Income Fund’s debt in Note B.9. — Summary of Significant Accounting Policies — Fair Value of Financial Instruments.
Schedule of Interest Expense
Summarized interest expense for the three and six months ended June 30, 2023 and 2022 is as follows:
Three Months Ended June 30, Six Months Ended June 30,
2023 2022 2023 2022
(dollars in thousands)
JPM SPV Facility $ 5,376  $ 2,881  $ 10,194  $ 5,274 
Series A Notes 1,590  1,584  3,179  3,004 
TIAA Credit Facility 1,896  834  3,823  1,549 
Total Interest Expense $ 8,862  $ 5,299  $ 17,196  $ 9,827