DFX Intelligence
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Borrower
D••• K••••• C••••••• L••
group grade Aoff every schedule since Dec 31, 2023sponsor unattributed
Also written as: Emerald JV LP
Nothing material in the last 200 days. Last change: 31 Dec 2023, $146M principal held by 2 lenders; matures Dec 2026.
Mark path, consensus per quarter end
101¢ · 101¢ · 101¢ · 101¢ · 101¢Q4 2022 to Q4 2023
Principal held
at least $146M
sum of BDC pieces, a lower bound
Fair value
$146M
101c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
1
0 equity pieces beside them
Next maturity
Dec 29, 2026
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Dec 31, 2023
Events
1
dated, non-routine
Lender marks
each lender's own fair value over cost at Dec 31, 2023, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| B••••••••• P•••••• C••••• F••• | $95.9M | 101¢ | 0 pts |
| B••••••••• S•••••• L•••••• F••• | $49.7M | 101¢ | 0 pts |
Every BDC piece · 3 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••••••••• P•••••• C••••• F••• | unstated lien unstated | $80.4M | $80.4M 101c | S+600 bp |
| B••••••••• S•••••• L•••••• F••• | unstated lien unstated | $49.7M | $49.7M 101c | S+600 bp |
| B••••••••• P•••••• C••••• F••• | unstated lien unstated | $15.6M | $15.6M 100c | S+600 bp |
Capital structure as the BDCs see it
latest quarter end Dec 31, 2023
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| other lien unstated exited Dec 31, 2023 | at least $146M | 101c | S+600 bp | Dec 29, 2026 | 2 |
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Dec 31, 2023 | 2 | $146M | $146M | 101c | 0 |
| Sep 30, 2023 | 2 | $146M | $145M | 101c | 0 |
| Jun 30, 2023 | 2 | $161M | $161M | 101c | 0 |
| Mar 31, 2023 | 2 | $146M | $146M | 101c | 0 |
All 7 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Dec 31, 2022 | 2 | $177M | $176M | 101c | 0 |
| Sep 30, 2022 | 2 | $147M | $146M | 101c | 0 |
| Dec 31, 2021 | 2 | $143M | $143M | 102c | 0 |
What changed
- Facility left every BDC scheduleDec 31, 2023
- Maturity shortened (observed)Sep 30, 2023
- Maturity shortened (observed)Sep 30, 2023
- Maturity extended (observed)Sep 30, 2022
- Maturity extended (observed)Sep 30, 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
- D••• K•••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived