{
 "chunks": [
  {
   "id": "e59a428d-9e06-4dd1-9b36-576930340b65",
   "grounding": {
    "box": {
     "bottom": 0.08178026974201202,
     "left": 0.00581696629524231,
     "right": 0.5163571834564209,
     "top": 0.016103792935609818
    },
    "page": 0
   },
   "markdown": "<a id='e59a428d-9e06-4dd1-9b36-576930340b65'></a>\n\nRECENT MOMENTUM",
   "type": "text"
  },
  {
   "id": "f082e9b2-c001-47b2-b96d-9dc57e0037fa",
   "grounding": {
    "box": {
     "bottom": 0.19353525340557098,
     "left": 0.03010714054107666,
     "right": 0.9825612306594849,
     "top": 0.15204159915447235
    },
    "page": 0
   },
   "markdown": "<a id='f082e9b2-c001-47b2-b96d-9dc57e0037fa'></a>\n\n>$2.6B loan originations over last 18 months, with positive rating and funding developments",
   "type": "text"
  },
  {
   "id": "d0e5765e-4c10-4b28-8bf3-be7a3b7adaaa",
   "grounding": {
    "box": {
     "bottom": 0.8336334228515625,
     "left": 0.022482186555862427,
     "right": 0.553635835647583,
     "top": 0.26212191581726074
    },
    "page": 0
   },
   "markdown": "<a id='d0e5765e-4c10-4b28-8bf3-be7a3b7adaaa'></a>\n\nLoan Origination Momentum\n<::bar chart with an overlay line graph. The title of the chart is \"LOAN PORTFOLIO \u00b9 ($M)\".\nThe x-axis represents years/quarters, and the y-axis represents the loan portfolio in millions of dollars.\nThere are three blue bars:\n- 2024: $1,591\n- 2025: $2,217\n- Q2 2026: $2,817\nAn upward sloping gold line starts from 2024, goes over the bars, and extends as a dashed line labeled \"ACTIVE PIPELINE\".\nCaption: Recent vintage \u2013 85% of portfolio originated since 2024\n: chart::>",
   "type": "figure"
  },
  {
   "id": "e5f1d89d-5d9a-4f65-9620-e988e730ab78",
   "grounding": {
    "box": {
     "bottom": 0.8339828252792358,
     "left": 0.5703262686729431,
     "right": 0.9856850504875183,
     "top": 0.26239868998527527
    },
    "page": 0
   },
   "markdown": "<a id='e5f1d89d-5d9a-4f65-9620-e988e730ab78'></a>\n\n# Capital Structure Momentum (2025-2026)\n\n## Credit Rating Upgrades\nIG ratings from Moody's (Baa3) and Fitch (BBB-)\nS&P upgrade to BB+ and outlook revised to Positive\n\n## Inaugural IG Bond Issuance\n~5.5x oversubscribed; significant spread tightening since pricing\n\n$1.25B Upsized Unsecured Revolver @ S+125\n\n$275M New Unsecured Term Loan @ S+140",
   "type": "text"
  },
  {
   "id": "62c648b4-3696-49fc-9c34-fb07ec0988e6",
   "grounding": {
    "box": {
     "bottom": 0.9590103030204773,
     "left": 0.0352059006690979,
     "right": 0.29845142364501953,
     "top": 0.9215114712715149
    },
    "page": 0
   },
   "markdown": "<a id='62c648b4-3696-49fc-9c34-fb07ec0988e6'></a>\n\nNote: As of 06/30/2026. Forward pipeline subject to change.\n1. As of end of period",
   "type": "marginalia"
  },
  {
   "id": "f664b819-7586-4f3b-8b06-2582df8513a2",
   "grounding": {
    "box": {
     "bottom": 0.9819176197052002,
     "left": 0.4945528209209442,
     "right": 0.5065065622329712,
     "top": 0.9642684459686279
    },
    "page": 0
   },
   "markdown": "<a id='f664b819-7586-4f3b-8b06-2582df8513a2'></a>\n\n6",
   "type": "marginalia"
  }
 ],
 "markdown": "<a id='e59a428d-9e06-4dd1-9b36-576930340b65'></a>\n\nRECENT MOMENTUM\n\n<a id='f082e9b2-c001-47b2-b96d-9dc57e0037fa'></a>\n\n>$2.6B loan originations over last 18 months, with positive rating and funding developments\n\n<a id='d0e5765e-4c10-4b28-8bf3-be7a3b7adaaa'></a>\n\nLoan Origination Momentum\n<::bar chart with an overlay line graph. The title of the chart is \"LOAN PORTFOLIO \u00b9 ($M)\".\nThe x-axis represents years/quarters, and the y-axis represents the loan portfolio in millions of dollars.\nThere are three blue bars:\n- 2024: $1,591\n- 2025: $2,217\n- Q2 2026: $2,817\nAn upward sloping gold line starts from 2024, goes over the bars, and extends as a dashed line labeled \"ACTIVE PIPELINE\".\nCaption: Recent vintage \u2013 85% of portfolio originated since 2024\n: chart::>\n\n<a id='e5f1d89d-5d9a-4f65-9620-e988e730ab78'></a>\n\n# Capital Structure Momentum (2025-2026)\n\n## Credit Rating Upgrades\nIG ratings from Moody's (Baa3) and Fitch (BBB-)\nS&P upgrade to BB+ and outlook revised to Positive\n\n## Inaugural IG Bond Issuance\n~5.5x oversubscribed; significant spread tightening since pricing\n\n$1.25B Upsized Unsecured Revolver @ S+125\n\n$275M New Unsecured Term Loan @ S+140\n\n<a id='62c648b4-3696-49fc-9c34-fb07ec0988e6'></a>\n\nNote: As of 06/30/2026. Forward pipeline subject to change.\n1. As of end of period\n\n<a id='f664b819-7586-4f3b-8b06-2582df8513a2'></a>\n\n6",
 "metadata": {
  "credit_usage": 3.0,
  "duration_ms": 12530,
  "filename": "p6.pdf",
  "job_id": "cms7oz3uc0b1ie40164ou32ld",
  "org_id": "dlh8mka28ml4",
  "page_count": 1,
  "version": "dpt-2-20260410",
  "failed_pages": []
 },
 "splits": [
  {
   "chunks": [
    "e59a428d-9e06-4dd1-9b36-576930340b65",
    "f082e9b2-c001-47b2-b96d-9dc57e0037fa",
    "d0e5765e-4c10-4b28-8bf3-be7a3b7adaaa",
    "e5f1d89d-5d9a-4f65-9620-e988e730ab78",
    "62c648b4-3696-49fc-9c34-fb07ec0988e6",
    "f664b819-7586-4f3b-8b06-2582df8513a2"
   ],
   "class_": "full",
   "identifier": "full",
   "markdown": "<a id='e59a428d-9e06-4dd1-9b36-576930340b65'></a>\n\nRECENT MOMENTUM\n\n<a id='f082e9b2-c001-47b2-b96d-9dc57e0037fa'></a>\n\n>$2.6B loan originations over last 18 months, with positive rating and funding developments\n\n<a id='d0e5765e-4c10-4b28-8bf3-be7a3b7adaaa'></a>\n\nLoan Origination Momentum\n<::bar chart with an overlay line graph. The title of the chart is \"LOAN PORTFOLIO \u00b9 ($M)\".\nThe x-axis represents years/quarters, and the y-axis represents the loan portfolio in millions of dollars.\nThere are three blue bars:\n- 2024: $1,591\n- 2025: $2,217\n- Q2 2026: $2,817\nAn upward sloping gold line starts from 2024, goes over the bars, and extends as a dashed line labeled \"ACTIVE PIPELINE\".\nCaption: Recent vintage \u2013 85% of portfolio originated since 2024\n: chart::>\n\n<a id='e5f1d89d-5d9a-4f65-9620-e988e730ab78'></a>\n\n# Capital Structure Momentum (2025-2026)\n\n## Credit Rating Upgrades\nIG ratings from Moody's (Baa3) and Fitch (BBB-)\nS&P upgrade to BB+ and outlook revised to Positive\n\n## Inaugural IG Bond Issuance\n~5.5x oversubscribed; significant spread tightening since pricing\n\n$1.25B Upsized Unsecured Revolver @ S+125\n\n$275M New Unsecured Term Loan @ S+140\n\n<a id='62c648b4-3696-49fc-9c34-fb07ec0988e6'></a>\n\nNote: As of 06/30/2026. Forward pipeline subject to change.\n1. As of end of period\n\n<a id='f664b819-7586-4f3b-8b06-2582df8513a2'></a>\n\n6",
   "pages": [
    0
   ]
  }
 ],
 "grounding": {
  "e59a428d-9e06-4dd1-9b36-576930340b65": {
   "box": {
    "bottom": 0.08178026974201202,
    "left": 0.00581696629524231,
    "right": 0.5163571834564209,
    "top": 0.016103792935609818
   },
   "page": 0,
   "type": "chunkText",
   "confidence": 0.991,
   "low_confidence_spans": []
  },
  "f082e9b2-c001-47b2-b96d-9dc57e0037fa": {
   "box": {
    "bottom": 0.19353525340557098,
    "left": 0.03010714054107666,
    "right": 0.9825612306594849,
    "top": 0.15204159915447235
   },
   "page": 0,
   "type": "chunkText",
   "confidence": 0.996,
   "low_confidence_spans": []
  },
  "d0e5765e-4c10-4b28-8bf3-be7a3b7adaaa": {
   "box": {
    "bottom": 0.8336334228515625,
    "left": 0.022482186555862427,
    "right": 0.553635835647583,
    "top": 0.26212191581726074
   },
   "page": 0,
   "type": "chunkFigure",
   "confidence": null,
   "low_confidence_spans": []
  },
  "e5f1d89d-5d9a-4f65-9620-e988e730ab78": {
   "box": {
    "bottom": 0.8339828252792358,
    "left": 0.5703262686729431,
    "right": 0.9856850504875183,
    "top": 0.26239868998527527
   },
   "page": 0,
   "type": "chunkText",
   "confidence": 0.962,
   "low_confidence_spans": []
  },
  "62c648b4-3696-49fc-9c34-fb07ec0988e6": {
   "box": {
    "bottom": 0.9590103030204773,
    "left": 0.0352059006690979,
    "right": 0.29845142364501953,
    "top": 0.9215114712715149
   },
   "page": 0,
   "type": "chunkMarginalia",
   "confidence": 0.996,
   "low_confidence_spans": []
  },
  "f664b819-7586-4f3b-8b06-2582df8513a2": {
   "box": {
    "bottom": 0.9819176197052002,
    "left": 0.4945528209209442,
    "right": 0.5065065622329712,
    "top": 0.9642684459686279
   },
   "page": 0,
   "type": "chunkMarginalia",
   "confidence": 0.999,
   "low_confidence_spans": []
  }
 }
}