Quarterly report pursuant to Section 13 or 15(d)

DEBT (Tables)

v3.23.3
DEBT (Tables)
 9 Months Ended
Sep. 30, 2023
Debt Disclosure [Abstract]  
Schedule of Debt
Summary of debt as of September 30, 2023 is as follows:
Outstanding Balance
Unamortized Debt Issuance
Costs (1)
Recorded Value
Estimated Fair Value (2)
(dollars in thousands)
SPV Facility $ 264,688  $ —  $ 264,688  $ 264,688 
Series A Notes 150,000  (920) 149,080  138,513 
Corporate Facility 92,000  —  92,000  92,000 
Total Debt $ 506,688  $ (920) $ 505,768  $ 495,201 
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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)
SPV Facility $ 223,688  $ —  $ 223,688  $ 223,688 
Series A Notes 150,000  (1,144) 148,856  132,955 
Corporate 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 nine months ended September 30, 2023 and 2022 is as follows:
Three Months Ended September 30, Nine Months Ended September 30,
2023 2022 2023 2022
(dollars in thousands)
SPV Facility $ 5,933  $ 3,944  $ 16,127  $ 9,218 
Series A Notes 1,590  1,573  4,769  4,577 
Corporate Facility 1,880  1,284  5,703  2,833 
Total Interest Expense $ 9,403  $ 6,801  $ 26,599  $ 16,628