Quarterly report pursuant to Section 13 or 15(d)

Debt - Narrative (Details)

v3.24.3
Debt - Narrative (Details)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Jul. 16, 2024
USD ($)
Jul. 09, 2024
USD ($)
Oct. 27, 2020
USD ($)
Sep. 30, 2024
USD ($)
creditFacility
Sep. 30, 2023
USD ($)
Sep. 30, 2024
USD ($)
creditFacility
Sep. 30, 2023
USD ($)
Dec. 31, 2023
USD ($)
creditFacility
Jan. 31, 2023
USD ($)
Jun. 23, 2022
USD ($)
Jun. 22, 2022
USD ($)
Jan. 20, 2022
USD ($)
Sep. 16, 2021
USD ($)
Mar. 04, 2021
USD ($)
Nov. 04, 2020
USD ($)
Jun. 03, 2020
USD ($)
Feb. 05, 2020
USD ($)
Jul. 16, 2019
USD ($)
Sep. 24, 2018
USD ($)
Debt Instrument [Line Items]                                      
Weighted average cost of debt       5.10% 4.80% 5.00% 4.80%                        
Total Available       $ 2,285,000   $ 2,285,000   $ 2,215,000                      
Repayments of debt           758,000 $ 478,000                        
Restricted cash       $ 5,113 $ 5,252 $ 5,113 $ 5,252 $ 17,114                      
Number of available credit facilities | creditFacility       2   2   2                      
Credit Facility                                      
Debt Instrument [Line Items]                                      
Line of credit interest rate           7.79%   7.41%                      
Debt average amount outstanding           $ 311,000   $ 192,300                      
MUFG Bank Facility                                      
Debt Instrument [Line Items]                                      
Maximum borrowing capacity       $ 400,000   $ 400,000                          
Line of credit facility, description           funded by existing or additional lenders and with the agreement of MUFG Bank and subject to other customary conditions.                          
Debt instrument, variable interest rate, type [Extensible enumeration]           One Month Secured Overnight Financing Rate Sofr Overnight Index Swap Rate [Member]                          
Interest rate plus applicable margin adjustment           2.75%                          
Line of credit facility, covenant terms           these covenants require the Company to maintain certain financial ratios, including a minimum interest coverage ratio and a minimum tangible net worth with respect to Hercules Funding IV.                          
MUFG Bank Facility | Maximum                                      
Debt Instrument [Line Items]                                      
Maximum borrowing capacity       600,000   $ 600,000                          
SMBC Facility                                      
Debt Instrument [Line Items]                                      
Maximum borrowing capacity       225,000   $ 225,000                          
Line of credit facility, description           Availability under the SMBC Facility will terminate on November 7, 2025, and the outstanding loans under the SMBC Facility will mature on November 9, 2026                          
Line of credit facility, unused capacity, commitment fee percentage           0.375%                          
SMBC Facility | Minimum                                      
Debt Instrument [Line Items]                                      
Interest rate plus applicable margin adjustment           0.875%                          
SMBC Facility | Maximum                                      
Debt Instrument [Line Items]                                      
Maximum borrowing capacity       500,000   $ 500,000                          
Interest rate plus applicable margin adjustment           2.00%                          
SMBC LC Facility                                      
Debt Instrument [Line Items]                                      
Maximum borrowing capacity       175,000   $ 175,000   175,000 $ 175,000                    
SMBC LC Facility | Maximum                                      
Debt Instrument [Line Items]                                      
Maximum borrowing capacity       400,000   400,000                          
VIE                                      
Debt Instrument [Line Items]                                      
Restricted cash       5,113   5,113   17,114                      
SBA Debentures                                      
Debt Instrument [Line Items]                                      
Maximum borrowing capacity       350,000   350,000                          
Total Available [1]       350,000   $ 350,000   175,000                      
SBA Debentures | HC IV                                      
Debt Instrument [Line Items]                                      
Debt instrument, license description           HC IV received its license to operate as an SBIC on October 27, 2020. The license has a 10-year term                          
License term     10 years                                
Maximum borrowing capacity     $ 175,000 175,000   $ 175,000   175,000                      
Total Available       $ 175,000   $ 175,000   175,000                      
SBA Debentures | Hercules SBIC V, L.P.                                      
Debt Instrument [Line Items]                                      
Debt instrument, license description           On July 9, 2024, SBIC V received its license to operate as an SBIC                          
License term   10 years                                  
Maximum borrowing capacity   $ 175,000                                  
Debt instrument, interest rate       4.509%   4.509%                          
July 2024 Notes                                      
Debt Instrument [Line Items]                                      
Total Available       $ 0   $ 0   105,000                   $ 105,000  
Debt instrument, interest rate                                   4.77%  
Debt retired           Jul. 16, 2024                          
Debt instrument, redemption, description           On July 16, 2019, the Company issued $105.0 million in aggregate principal amount of 4.77% interest-bearing unsecured notes due on July 16, 2024 (the “July 2024 Notes”), unless repurchased in accordance with their terms, to qualified institutional investors in a private placement notes offering.                          
Debt instrument, payment terms, description           Interest on the July 2024 Notes is due semiannually                          
Debt instrument, collateral           The July 2024 Notes are general unsecured obligations of the Company that rank pari passu with all outstanding and future unsecured unsubordinated indebtedness issued by the Company.                          
Repayments of debt $ 105,000                                    
Repayment of accrued interest $ 2,500                                    
February 2025 Notes                                      
Debt Instrument [Line Items]                                      
Total Available       50,000   $ 50,000   50,000                 $ 50,000    
Debt instrument, interest rate                                 4.28%    
Debt retired           Feb. 05, 2025                          
Debt instrument, redemption, description           On February 5, 2020, the Company issued $50.0 million in aggregate principal amount of 4.28% interest-bearing unsecured notes due February 5, 2025 (the “February 2025 Notes”), unless repurchased in accordance with their terms, to qualified institutional investors in a private placement notes offering                          
Debt instrument, payment terms, description           Interest on the February 2025 Notes is due semiannually                          
Debt instrument, collateral           The February 2025 Notes are general unsecured obligations of the Company that rank pari passu with all outstanding and future unsecured unsubordinated indebtedness issued by the Company.                          
June 2025 Notes                                      
Debt Instrument [Line Items]                                      
Total Available       70,000   $ 70,000   70,000               $ 70,000      
Debt instrument, interest rate                               4.31%      
Debt retired           Jun. 03, 2025                          
Debt instrument, redemption, description           On June 3, 2020, the Company issued $70.0 million in aggregate principal amount of 4.31% interest-bearing unsecured notes due June 3, 2025 (the “June 2025 Notes”), unless repurchased in accordance with their terms, to qualified institutional investors in a private placement notes offering                          
Debt instrument, payment terms, description           Interest on the June 2025 Notes is due semiannually.                          
Debt instrument, collateral           The June 2025 Notes are general unsecured obligations of the Company that rank pari passu with all outstanding and future unsecured unsubordinated indebtedness issued by the Company.                          
June 2025 3-Year Notes                                      
Debt Instrument [Line Items]                                      
Total Available       50,000   $ 50,000   50,000   $ 50,000                  
Debt instrument, interest rate                   6.00%                  
Debt retired           Jun. 23, 2025                          
Debt instrument, redemption, description           On June 23, 2022, the Company issued $50.0 million in aggregate principal amount of 6.00% interest-bearing unsecured notes due June 23, 2025 (the “June 2025 3-Year Notes”), unless repurchased in accordance with their terms, to qualified institutional investors in a private placement notes offering                          
Debt instrument, payment terms, description           Interest on the June 2025 3-Year Notes is due semiannually.                          
Debt instrument, collateral           The June 2025 3-Year Notes are general unsecured obligations of the Company that rank pari passu with all outstanding and future unsecured unsubordinated indebtedness issued by the Company.                          
March 2026 A Notes                                      
Debt Instrument [Line Items]                                      
Total Available       50,000   $ 50,000   50,000             $ 50,000        
Debt instrument, interest rate                             4.50%        
Debt retired           Mar. 04, 2026                          
Debt instrument, redemption, description           On November 4, 2020, the Company issued $50.0 million in aggregate principal amount of 4.50% interest-bearing unsecured notes due March 4, 2026 (the “March 2026 A Notes”), unless repurchased in accordance with their terms, to qualified institutional investors in a private placement notes offering                          
Debt instrument, payment terms, description           Interest on the March 2026 A Notes is due semiannually                          
Debt instrument, collateral           The March 2026 A Notes are general unsecured obligations of the Company that rank pari passu with all outstanding and future unsecured unsubordinated indebtedness issued by the Company.                          
March 2026 B Notes                                      
Debt Instrument [Line Items]                                      
Total Available       50,000   $ 50,000   50,000           $ 50,000          
Debt instrument, interest rate                           4.55%          
Debt retired           Mar. 04, 2026                          
Debt instrument, redemption, description           On March 4, 2021, the Company issued $50.0 million in aggregate principal amount of 4.55% interest-bearing unsecured notes due March 4, 2026 (the “March 2026 B Notes”), unless repurchased in accordance with their terms, to qualified institutional investors in a private placement pursuant note offering                          
Debt instrument, payment terms, description           Interest on the March 2026 B Notes is due semiannually                          
Debt instrument, collateral           The March 2026 B Notes are general unsecured obligations of the Company that rank pari passu with all outstanding and future unsecured unsubordinated indebtedness issued by the Company.                          
September 2026 Notes                                      
Debt Instrument [Line Items]                                      
Total Available       325,000   $ 325,000   325,000         $ 325,000            
Debt instrument, interest rate                         2.625%            
Debt retired           Sep. 16, 2026                          
Debt instrument, redemption, description           On September 16, 2021, the Company issued $325.0 million in aggregate principal amount of 2.625% interest-bearing unsecured notes due September 16, 2026 (the “September 2026 Notes”), unless repurchased in accordance with the terms of the Seventh Supplemental Indenture, dated September 16, 2021.                          
Debt instrument, payment terms, description           Interest on the September 2026 Notes is payable semi-annually in arrears on March 16 and September 16 of each year.                          
Debt instrument, collateral           The September 2026 Notes are general unsecured obligations and rank pari passu, or equally in right of payment, with all outstanding and future unsecured unsubordinated indebtedness issued by the Company.                          
January 2027 Notes                                      
Debt Instrument [Line Items]                                      
Total Available       350,000   $ 350,000   350,000       $ 350,000              
Debt instrument, interest rate                       3.375%              
Debt retired           Jan. 20, 2027                          
Debt instrument, redemption, description           The Company may redeem some or all of the January 2027 Notes at any time, or from time to time, at the redemption price set forth under the terms of the January 2027 Notes Indenture.                          
Debt instrument, payment terms, description           Interest on the January 2027 Notes is payable semi-annually in arrears on January 20 and July 20 of each year.                          
Debt instrument, collateral           The January 2027 Notes are general unsecured obligations and rank pari passu, or equally in right of payment, with all outstanding and future unsecured unsubordinated indebtedness issued by the Company.                          
2031 Asset-Backed Notes                                      
Debt Instrument [Line Items]                                      
Total Available       150,000   $ 150,000   150,000     $ 150,000                
Debt instrument, interest rate                     4.95%                
Debt retired           Jul. 20, 2031                          
Debt instrument, payment terms, description           Interest on the 2031 Asset-Backed Notes will be paid, to the extent of funds available.                          
2031 Asset-Backed Notes | VIE                                      
Debt Instrument [Line Items]                                      
Restricted cash       5,100   $ 5,100   17,100                      
2033 Notes                                      
Debt Instrument [Line Items]                                      
Total Available       $ 40,000   $ 40,000   $ 40,000                     $ 40,000
Debt instrument, interest rate                                     6.25%
Debt retired           Oct. 30, 2033                          
Debt instrument, redemption, description           The Company may redeem some or all of the 2033 Notes at any time, or from time to time, at the redemption price set forth under the terms of the 2033 Notes indenture after October 30, 2023.                          
Debt instrument, payment terms, description           Interest on the 2033 Notes is payable quarterly in arrears on January 30, April 30, July 30, and October 30 of each year                          
Debt instrument, collateral           The 2033 Notes trade on the NYSE under the symbol “HCXY.” The 2033 Notes are general unsecured obligations and rank pari passu, or equally in right of payment, with all outstanding and future unsecured unsubordinated indebtedness issued by the Company.                          
[1] As of September 30, 2024, the total available debt under the SBA Debentures was $350.0 million, of which $175.0 million was available to HC IV and $175.0 million was available to SBIC V. As of December 31, 2023, the total available debt under the SBA debentures was $175.0 million, all of which was available to HC IV.