DFX Intelligence
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Borrower
F•• A••••••••• I••
Trading Companies and Distributorsgroup grade Aon a schedule nowsponsor unattributed
Also written as: Emerald JV LP; Inc. Verdelite JV LP
Principal held
at least $60.1M
sum of BDC pieces, a lower bound
Fair value
$60.3M
100c on cost, debt pieces
Unfunded
n/a
commitments not yet drawn
BDC lenders
7
5 on the latest quarter
Facilities
2
1 equity pieces beside them
Next maturity
Feb 28, 2033
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 |
|---|---|---|---|---|---|
| first lien term loan first lien | at least $50.6M | 100c | SOFR+325 bp | Mar 1, 2033 | 5 |
| other lien unstated | at least $9.5M | 101c | S+325 bp | Mar 4, 2033 | 2 |
Equity pieces beside the debt: preferred equity (n/a fair value, 1 BDC)
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A••• S•••••••• I••••• F••• | term loan first lien F•••• lien senior secured loan | $49.1M | $49.2M 100c | S+325 bp |
| B••• C•••••• S•••••••• F••••••• I••• | unstated lien unstated A••••••••• D••• 1/24/2019 | n/a | n/a | |
| B••• C•••••• S•••••••• F••••••• I••• | preferred equity equity P•••••••• Equity | $4,000 | n/a | |
| B•••••• P•••••• C••••• C••• | term loan first lien F•••• L••• S••••• S•••••• T••• L••• | $1.5M | $1.5M 100c | S+325 bp |
| B•••••••• P•••••• C••••• F••• | term loan first lien I••••••••• F•••• L••• T••• L••• Ref S•••(M) S••••• 3.25% T•••• C••••• 6.89% M••••••• 2/28/ | $51,870 | $52,125 100c | SOFR+325 bp |
| B••••••••• P•••••• C••••• F••• | unstated lien unstated N••••••••• I••••• | $9.5M | $9.6M 101c | S+325 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 | 5 | $60.1M | $60.3M | 100c | 0 |
| Mar 31, 2026 | 4 | $60.7M | $60.7M | 100c | 0 |
| Dec 31, 2025 | 6 | $109M | $110M | 100c | 0 |
| Sep 30, 2025 | 5 | $91.3M | $91.6M | 100c | 0 |
| Jun 30, 2025 | 5 | $89.7M | $89.8M | 100c | 0 |
| Mar 31, 2025 | 5 | $78.5M | $78.0M | 99c | 0 |
| Dec 31, 2024 | 4 | $112M | $113M | 101c | 0 |
| Sep 30, 2024 | 4 | $60.2M | $60.2M | 101c | 0 |
| Jun 30, 2024 | 4 | $53.9M | $54.0M | 101c | 0 |
| Mar 31, 2024 | 3 | $36.9M | $36.9M | 101c | 0 |
| Dec 31, 2023 | 2 | $50.5M | $50.6M | 102c | 0 |
| Sep 30, 2023 | 2 | $35.8M | $35.6M | 100c | 0 |
| Jun 30, 2023 | 2 | $35.9M | $35.4M | 100c | 0 |
| Mar 31, 2023 | 2 | $23.1M | $22.4M | 97c | 0 |
| Dec 31, 2022 | 2 | $49.6M | $47.3M | 96c | 0 |
| Sep 30, 2022 | 2 | $45.8M | $43.9M | 96c | 0 |
| Dec 31, 2021 | 2 | $23.6M | $23.5M | 100c | 0 |
What changed
- New lender joined a facilityJun 30, 2026
- Maturity extended (observed)Mar 31, 2026
- Maturity extended (observed)Mar 31, 2026
- Maturity extended (observed)Mar 31, 2026
- Lender left a facilityDec 31, 2025
- Lender left a facilityDec 31, 2025
- New lender joined a facilityDec 31, 2025
- New lender joined a facilityMar 31, 2025
- New lender joined a facilityJun 30, 2024
- Spread changed (observed)Jun 30, 2024
- New lender joined a facilityDec 31, 2022
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- FCG ACQUISITIONderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 7 BDCsderived
- Industry
- Trading Companies and Distributorsreportedas one filer wrote it