DFX Intelligence
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Borrower
N••••••• I••••••••• P••••••••• A••••••• C••••••
group grade Aoff every schedule since Jun 30, 2023sponsor unattributed
Also written as: Emerald JV LP; Verdelite JV LP
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
100¢ · 97¢ · 100¢ · 99¢ · 100¢Q4 2021 to Q2 2023
Principal held
at least $9.8M
sum of BDC pieces, a lower bound
Fair value
$9.8M
100c on cost, debt pieces
Unfunded
$9.0M
commitments not yet drawn
BDC lenders
3
2 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
May 23, 2025
$9.8M inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2023
Events
3
dated, non-routine
Lender marks
each lender's own fair value over cost at Jun 30, 2023, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| B••••••••• P•••••• C••••• F••• | $9.85M | 100¢ | +1 pts |
| A••• C•••••• C••• | no principal filed | no cost filed | no comparable mark |
Every BDC piece · 4 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••••••••• P•••••• C••••• F••• | unstated lien unstated | $4.9M | $4.9M 100c | S+350 bp |
| B••••••••• P•••••• C••••• F••• | unstated lien unstated | $4.2M | $4.2M 100c | S+350 bp |
| B••••••••• P•••••• C••••• F••• | unstated lien unstated | $719,000 | $716,000 100c | S+350 bp |
| A••• C•••••• C••• | unstated lien unstated | Not disclosed | Not disclosed |
Capital structure as the BDCs see it
latest quarter end Jun 30, 2023
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| other lien unstated exited Jun 30, 2023 | at least $9.8M | 100c | S+350 bp | May 23, 2025 | 2 |
| first lien revolver first lien exited Dec 31, 2022 | at least $1.2M | 100c | S+300 bp | May 1, 2026 | 1 |
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, 2023 | 2 | $9.8M | $9.8M | 100c | 0 |
| Mar 31, 2023 | 2 | $4.2M | $4.1M | 99c | 0 |
| Dec 31, 2022 | 2 | $10.4M | $10.3M | 100c | 0 |
| Sep 30, 2022 | 1 | $19.9M | $19.3M | 97c | 0 |
All 5 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Dec 31, 2021 | 2 | $5.0M | $5.0M | 100c | 0 |
What changed
- Facility left every BDC scheduleJun 30, 2023
- Facility left every BDC scheduleDec 31, 2022
- New borrower on a BDC scheduleDec 31, 2021
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- N••••••• I••••••••• P••••••••• A•••••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 3 BDCsderived