$24.9B of club-held private credit matures inside eighteen months across 563 borrowers; MRI Software LLC is the largest at $1.1B
859 debt facilities held by two or more BDCs mature between 2026-09-22 and 2028-03-17, $24.9B of visible principal across 563 borrowers. Largest: MRI Software LLC $1.1B across 4 facilities, next 2028-02-10, 35 lenders; Corfin Holdings, Inc $432M across 1 facility, next 2027-12-27, 2 lenders; Material Holdings, LLC $397M across 2 facilities, next 2027-08-19, 4 lenders; Acquia Inc $389M across 2 facilities, next 2026-11-01, 11 lenders; Gaylord Chemical Company $377M across 1 facility, next 2027-12-01, 4 lenders; Mode Purchaser, Inc $335M across 1 facility, next 2027-12-09, 2 lenders.
A club loan coming due is a refinancing that has to be arranged with several lenders at once, which is when a borrower talks to new capital, a sponsor considers a sale, and an incumbent lender defends its position. Two or more lenders is the test that separates a negotiation from a bilateral roll.