DFX Intelligence
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Borrower
M•••••• B•••• I••
Professional Servicesgroup grade Aon a schedule nowsponsor unattributed
Also written as: Emerald JV LP; Verdelite JV LP
Principal held
at least $51.7M
sum of BDC pieces, a lower bound
Fair value
$50.1M
97c on cost, debt pieces
Unfunded
n/a
commitments not yet drawn
BDC lenders
10
8 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
Jul 1, 2031
no dated debt inside 24 months
On the tape since
Jun 30, 2023
latest Jun 30, 2026
Events
3
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 $39.1M | 97c | SOFR+325 bp | Jul 3, 2031 | 7 |
| other lien unstated | at least $12.7M | 97c | S+325 bp | Jul 3, 2031 | 3 |
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A• P•••••• L•••••• F••• | term loan first lien US C•••••••• D••• | 1st L•••/S••••• S•••••• D••• | T••• L••• | 6.98% (S + 3.25%) | 7/3/203 | $498,731 | $482,108 99c | SOFR+325 bp |
| A••• S•••••••• I••••• F••• | term loan first lien F•••• lien senior secured loan | $25.7M | $24.9M 97c | S+325 bp |
| B••••••••• P•••••• C••••• F••• | unstated lien unstated | $2.6M | $2.5M 97c | S+325 bp |
| B••••••••• P•••••• C••••• F••• | unstated lien unstated | $2.6M | $2.5M 97c | S+325 bp |
| F••••••• B•• C•••••• C••• | unstated lien unstated | $7.4M | $7.2M 97c | S+325 bp |
| N•••• H•••• P•••••• I••••• F••• L•• | term loan first lien Investment F•••• L••• D••• R•••••••• R••• & S••••• S + 3.25% I••••••• R••• 6.91% M••••••• | $3.9M | $3.8M 96c | SOFR+325 bp |
| N••••• C•••••••• P•••••• C•••••• I••••• F••• | term loan first lien F•••• L••• D••• | $4.0M | $3.9M 99c | S+325 bp |
| P••••• S••••• C•••••• B•• I••• | term loan first lien Investment F•••• L••• S••••• S•••••• L••• I••••••• R••• 6.91% (S + 3.25%) M••••••• D••• 7/ | $4.5M | $4.3M 97c | SOFR+325 bp |
| S••••• C•••• C•••••• C••• | term loan first lien F•••• L••• - T••• L••• | $491,000 | $477,000 97c | 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 | 8 | $51.7M | $50.1M | 97c | 0 |
| Mar 31, 2026 | 7 | $60.9M | $59.6M | 98c | 0 |
| Dec 31, 2025 | 8 | $65.3M | $65.5M | 100c | 0 |
| Sep 30, 2025 | 8 | $67.6M | $67.5M | 100c | 0 |
| Jun 30, 2025 | 6 | $52.5M | $52.5M | 100c | 0 |
| Mar 31, 2025 | 3 | $28.3M | $28.3M | 100c | 0 |
| Dec 31, 2024 | 4 | $32.4M | $32.6M | 100c | 0 |
| Sep 30, 2024 | 2 | $10.6M | $10.6M | 100c | 0 |
| Jun 30, 2024 | 2 | $6.6M | $6.6M | 100c | 0 |
| Dec 31, 2023 | 1 | $2.0M | $2.0M | 102c | 0 |
| Sep 30, 2023 | 1 | $4.3M | $4.3M | 102c | 0 |
| Jun 30, 2023 | 1 | $5.3M | $5.2M | 101c | 0 |
What changed
- New lender joined a facilityJun 30, 2026
- Lender left a facilityDec 31, 2025
- New lender joined a facilitySep 30, 2025
- New lender joined a facilityJun 30, 2025
- New lender joined a facilityJun 30, 2025
- Lender left a facilityDec 31, 2024
- New lender joined a facilityDec 31, 2024
- New lender joined a facilityDec 31, 2024
- Maturity extended (observed)Jun 30, 2024
- Spread changed (observed)Jun 30, 2024
- New borrower on a BDC scheduleJun 30, 2023
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- MERMAIDderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 10 BDCsderived
- Industry
- Professional Servicesreportedas one filer wrote it