DFX Intelligence
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Borrower
F•••••• S••••• G•••• A••••••••• L••
Also written as: LLC Emerald JV LP
Principal held
at least $186M
sum of BDC pieces, a lower bound
Fair value
$176M
95c on cost, debt pieces
Unfunded
n/a
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
Feb 26, 2029
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
2
dated, non-routine
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| delayed draw term loan lien unstated | at least $186M | 95c | S+600 bp | Feb 26, 2029 | 2 |
| other lien unstated exited Sep 30, 2023 | at least $184M | 98c | S+600 bp | Feb 26, 2027 | 2 |
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••••••••• P•••••• C••••• F••• | delayed draw term loan lien unstated | $19.7M | $18.6M 95c | S+600 bp |
| B••••••••• P•••••• C••••• F••• | delayed draw term loan lien unstated N••••••••• I••••• | $112M | $106M 95c | S+600 bp |
| B••••••••• S•••••• L•••••• F••• | delayed draw term loan lien unstated N••••••••• I••••• | $54.1M | $51.3M 95c | S+600 bp |
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2026 | 2 | $186M | $176M | 95c | 0 |
| Mar 31, 2026 | 2 | $186M | $179M | 97c | 0 |
| Dec 31, 2025 | 2 | $180M | $173M | 97c | 0 |
| Sep 30, 2025 | 2 | $180M | $174M | 97c | 0 |
| Jun 30, 2025 | 2 | $181M | $174M | 97c | 0 |
| Mar 31, 2025 | 2 | $181M | $175M | 97c | 0 |
| Dec 31, 2024 | 2 | $364M | $355M | 98c | 0 |
| Sep 30, 2024 | 2 | $182M | $180M | 99c | 0 |
| Jun 30, 2024 | 2 | $183M | $180M | 99c | 0 |
| Mar 31, 2024 | 2 | $183M | $181M | 100c | 0 |
| Dec 31, 2023 | 2 | $184M | $181M | 99c | 0 |
| Sep 30, 2023 | 2 | $184M | $179M | 98c | 0 |
| Jun 30, 2023 | 2 | $179M | $179M | 101c | 0 |
| Mar 31, 2023 | 2 | $160M | $160M | 101c | 0 |
| Dec 31, 2022 | 2 | $180M | $180M | 101c | 0 |
| Sep 30, 2022 | 2 | $161M | $161M | 101c | 0 |
| Dec 31, 2021 | 2 | $132M | $131M | 101c | 0 |
What changed
- Maturity extended (observed)Mar 31, 2026
- Maturity extended (observed)Mar 31, 2026
- Maturity extended (observed)Mar 31, 2026
- Facility left every BDC scheduleSep 30, 2023
Sponsor
- T•• S••••••• G••••• L•••
- the sponsor's own portfolio page lists a company of this nameestimatedsterling-group.com"••• Locked"
Identity
- Group key
- FENCING SUPPLYderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived