Quarterly report pursuant to Section 13 or 15(d)

Indebtedness (Tables)

v3.20.2
Indebtedness (Tables)
9 Months Ended
Sep. 30, 2020
Debt Disclosure [Abstract]  
Schedule of Debt
As of September 30, 2020, debt consisted of the following (in thousands, except percentages):
Carrying Values, net of debt discount
Unused Borrowing Capacity(2)
Interest
Rate (1)
Maturity Date
Current Long Term Total
Recourse debt:
Bank line of credit $ —  $ 224,910  $ 224,910  $ 10,000 
3.43% - 3.60%
April 2022
Total recourse debt —  224,910  224,910  10,000 
Non-recourse debt:
Senior 29,254  783,114  812,368  1,229 
2.39% - 5.61%
April 2022 - August 2027
Subordinated 64,974  529,878  594,852  705 
6.00% - 10.50%
March 2023 - November 2030
Securitization Class A 28,079  815,846  843,925  — 
3.61% - 5.31%
July 2024 - February 2055
Securitization Class B 505  8,316  8,821  —  5.38% July 2024
Total non-recourse debt
122,812  2,137,154  2,259,966  1,934 
Total debt $ 122,812  $ 2,362,064  $ 2,484,876  $ 11,934 
(1)     Reflects contractual, unhedged rates. See Note 9, Derivatives for hedge rates.
(2)     Represents the additional amount the Company could borrow, if any, based on the state of its existing assets as of September 30, 2020. For a description of the amount of capital commitments the Company can draw from as it constructs new assets, please see Item 2. Management’s Discussion and Analysis of Financial Conditions and Result of Operations, Debt and Financing Fund Commitments.
As of December 31, 2019, debt consisted of the following (in thousands, except percentages):
Carrying Values, net of debt discount Unused
Borrowing
Capacity
Interest
Rate (1)
Maturity Date
Current Long Term Total
Recourse debt:
Bank line of credit $ —  $ 239,485  $ 239,485  $ — 
5.09% - 5.38%
April 2022
Total recourse debt —  239,485  239,485  — 
Non-recourse debt:
Senior 8,020  617,499  625,519  14,639 
3.94% - 5.61%
April 2022 - July 2027
Subordinated —  513,938  513,938  — 
6.93% - 10.80%
March 2023 - July 2030
Securitization Class A 26,838  839,981  866,819  — 
3.61% - 5.31%
July 2024 - February 2055
Securitization Class B 490  8,689  9,179  —  5.38% July 2024
Total non-recourse debt
35,348  1,980,107  2,015,455  14,639 
Total debt $ 35,348  $ 2,219,592  $ 2,254,940  $ 14,639 
(1)     Reflects contractual, unhedged rates. See Note 9, Derivatives for hedge rates.