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C••••••••• H••••••• L••
What matters now
- 1 of 1 lenderon non-accrual
Non-accrual at 1 of 1 lender on the latest schedules, first placed in Q1 2026.
since Q1 2026 · Interest has stopped accruing; the lenders no longer expect to be paid in full.
FactBDC schedules of investments, 30 Jun 2026For restructuring advisers, special situations funds, the lenders' LPsSee every lender → - 43¢ → 1¢consensus mark
Consensus mark 1¢ on cost, down from 43¢ a year ago, 29¢ 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 - $8.3Mprincipal outstanding
$8.3M principal held by 1 lender; matures Dec 2028.
Q2 2026 · Refinancing is due in 26 months at a 1¢ mark.
FactBDC schedules of investments, 30 Jun 2026; a sum of the BDCs' pieces, a lower bound - 29¢ → 1¢-28 pts, one lender
F• K•• C•••••• C••• marked it 29¢ → 1¢, the largest move among 1 lender this quarter.
Q2 2026 · One holder repriced far more than the rest.
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| F• K•• C•••••• C••• | $8.3M | 1¢ | -28 pts |
Every BDC piece · 3 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| F• K•• C•••••• C••• | unstated lien unstated | $8.3M | $100,000 1c | S+900 bp |
| F• K•• C•••••• C••• | preferred equity equity P•••••••• Equity | Not disclosed | $0 | |
| H•••••• P••• C•••••••• I•••••• I••• | equity equity C••••• Equity (1,362 units) I••••••• O•••• J••••••, Public O••••, and S••••• A••••••••• I• | Not disclosed | $1,177 3c |
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| other lien unstated | at least $8.3M | 1c | S+900 bp | Dec 1, 2028 | 1 |
| second lien term loan second lien exited Dec 31, 2022 | unknown | n/a | unstated | 1 | |
| first lien term loan first lien exited Dec 31, 2022 | unknown | n/a | unstated | 1 |
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2026 | 2 | $8.3M | $100,000 | 1c | 0 |
| Mar 31, 2026 | 3 | $8.0M | $2.3M | 29c | 0 |
| Dec 31, 2025 | 3 | $7.7M | $6.8M | 89c | 0 |
| Sep 30, 2025 | 3 | $7.5M | $7.3M | 100c | 0 |
All 18 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 3 | $7.5M | $7.5M | 103c | 0 |
| Mar 31, 2025 | 3 | $7.5M | $7.5M | 103c | 0 |
| Dec 31, 2024 | 3 | $14.0M | $14.0M | 103c | 0 |
| Sep 30, 2024 | 3 | $7.0M | $7.0M | 103c | 0 |
| Jun 30, 2024 | 3 | $28.7M | $24.3M | 87c | 0 |
| Mar 31, 2024 | 3 | $28.7M | $24.7M | 89c | 0 |
| Dec 31, 2023 | 3 | $57.4M | $48.2M | 87c | 0 |
| Sep 30, 2023 | 3 | $28.7M | $24.6M | 88c | 0 |
| Jun 30, 2023 | 3 | $28.7M | $28.7M | 104c | 0 |
| Mar 31, 2023 | 3 | $28.5M | $28.5M | 104c | 0 |
| Dec 31, 2022 | 3 | $70.5M | $99.0M | 147c | 0 |
| Sep 30, 2022 | 2 | $28.5M | $28.5M | 106c | 0 |
| Dec 31, 2021 | 2 | $28.5M | $54.0M | 204c | 0 |
| Dec 31, 2020 | 1 | $0 | $0 | n/a | 0 |
- Marked down (one lender)Jun 30, 2026
- non accrual placedMar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Dec 31, 2025
- Marked down (one lender)Sep 30, 2024
Full timeline · 11 eventsShow fewer
- Maturity extended (observed)Sep 30, 2024
- Marked down (one lender)Sep 30, 2023
- Marked down (one lender)Mar 31, 2023
- Maturity extended (observed)Mar 31, 2023
- Facility left every BDC scheduleDec 31, 2022
- Facility left every BDC scheduleDec 31, 2022
- Group key
- CONSTELLISderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 3 BDCsderived
- Industry
- Capital Goodsreportedas one filer wrote it