Q•• I••

Building Productsgroup grade Aon a schedule nowsponsor unattributed

What matters now

102¢ → 100¢
consensus mark
Consensus mark 100¢ on cost, down from 102¢ in Q2 2025, 102¢ last quarter.
Q2 2026 · The lenders' own valuations, the most direct read of what they expect to recover.
Derived1 of 1 lender' own marks, weighted by principal

Mark path, consensus per quarter end

102¢ · 102¢ · 100¢Q2 2025 to Q2 2026

Principal held

at least $2.5M

sum of BDC pieces, a lower bound

Fair value

$2.5M

100c on cost, debt pieces

Unfunded

Not disclosed

commitments not yet drawn

BDC lenders

1 on the latest quarter

Facilities

0 equity pieces beside them

Next maturity

Jul 1, 2033

no dated debt inside 24 months

On the tape since

Jun 30, 2025

latest Jun 30, 2026

Events

dated, non-routine

Lender marks

each lender's own fair value over cost at Jun 30, 2026, folded to one row per lender

Lender	Exposure	Current mark	QoQ change
G•••••• S•••• P•••••• C••••• C••••	$2.54M	100¢	new this quarter

Every BDC piece · 1 position across 1 lenderlargest principal first, with instrument and rate

BDC	Instrument	Principal	Fair value	Rate
G•••••• S•••• P•••••• C••••• C••••	term loan first lien 1st L•••/S••••• S•••••• D••• I••••••• B••••••• P••••••• R•••••••• R••• and S••••• S + 2.00	$2.5M	$2.5M 100c	SOFR+200 bp

Capital structure as the BDCs see it

latest quarter end Jun 30, 2026

Facility	Held	On cost	Pricing	Maturity	BDCs
first lien term loan first lien	at least $2.5M	100c	SOFR+200 bp	Jul 1, 2033	1
other lien unstated exited Sep 30, 2025	at least $3.7M	102c	S+300 bp	Apr 30, 2032	3

Through time

the borrower's pieces summed across BDCs, every quarter end

Quarter end	BDCs	Principal held	Fair value	On cost
Jun 30, 2026	1	$2.5M	$2.5M	100c
Sep 30, 2025	3	$3.7M	$3.7M	102c
Jun 30, 2025	3	$3.7M	$3.7M	102c

What changed

Identity