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Borrower

M••••• F••••• L••

Hotels, Restaurants and Leisuregroup grade Aon a schedule nowsponsor unattributed
Also written as: Emerald JV LP; M••••• Acquisition; Verdelite JV LP
See every lender's markFind rescue capital
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Special situations PE firms

What matters now

  1. 96¢ → 86¢
    consensus mark

    Consensus mark 86¢ on cost, down from 96¢ a year ago, 89¢ last quarter.

    Q2 2026 · The lenders' own valuations, the most direct read of what they expect to recover.

    Derived2 of 2 lenders' own marks, weighted by principal
  2. $8.1M
    principal outstanding

    $8.1M principal held by 2 lenders; matures Nov 2029.

    Q2 2026 · Refinancing is due in 38 months at a 86¢ mark.

    FactBDC schedules of investments, 30 Jun 2026; a sum of the BDCs' pieces, a lower bound
Mark path, consensus per quarter end
Q2 2025: 96¢Q3 2025: 91¢Q4 2025: 90¢Q1 2026: 89¢Q2 2026: 86¢96¢ · 91¢ · 90¢ · 89¢ · 86¢Q2 2025 to Q2 2026
Where each lender marks it, 1 points apart
85¢Consensus: 86¢B••••••••• P•••••• C••••• F•••: 86¢B•••••••• P•••••• C••••• F•••: 85¢86¢
Principal held
at least $8.1M
sum of BDC pieces, a lower bound
Fair value
$6.9M
86c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
Nov 12, 2029
no dated debt inside 24 months
On the tape since
Sep 30, 2022
latest Jun 30, 2026
Events
2
dated, non-routine
Lender marks
each lender's own fair value over cost at Jun 30, 2026, folded to one row per lender
LenderExposureCurrent markQoQ change
B••••••••• P•••••• C••••• F•••$7.42M86¢-3 pts
B•••••••• P•••••• C••••• F•••$683K85¢-3 pts
Every BDC piece · 3 positions across 2 lenderslargest principal first, with instrument and rate
BDCInstrumentPrincipalFair valueRate
B••••••••• P•••••• C••••• F•••unstated lien unstated$4.9M$4.2M
86c
S+350 bp
B••••••••• P•••••• C••••• F•••unstated lien unstated$2.5M$2.1M
86c
S+350 bp
B•••••••• P•••••• C••••• F•••term loan first lien
I••••••••• F•••• L••• T••• L••• B Ref S•••(Q) S••••• 3.50% T•••• C••••• 6.89% M••••••• 11/
$683,263$584,473
85c
SOFR+350 bp
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
FacilityHeldOn costPricingMaturityBDCs
other lien unstatedat least $7.4M86cS+350 bpNov 12, 20291
first lien term loan first lienat least $683,26385cSOFR+350 bpNov 12, 20291
Through time
the borrower's pieces summed across BDCs, every quarter end
Quarter endBDCsPrincipal heldFair valueOn costPIK pieces
Jun 30, 20262$8.1M$6.9M86c0
Mar 31, 20262$8.1M$7.1M89c0
Dec 31, 20252$8.1M$7.2M90c0
Sep 30, 20252$8.2M$7.4M91c0
All 16 quarters
Quarter endBDCsPrincipal heldFair valueOn costPIK pieces
Jun 30, 20252$8.2M$7.8M96c0
Mar 31, 20252$8.2M$7.9M97c0
Dec 31, 20242$5.9M$5.9M99c0
Sep 30, 20242$31.5M$30.4M97c0
Jun 30, 20241$30.8M$30.8M100c0
Mar 31, 20241$18.3M$18.3M100c0
Dec 31, 20231$20.5M$20.5M103c0
Sep 30, 20231$12.1M$12.1M103c0
Jun 30, 20231$12.3M$12.2M102c0
Mar 31, 20231$4.0M$4.0M101c0
Dec 31, 20221$27.9M$26.7M99c0
Sep 30, 20221$22.4M$20.5M94c0
What changed
Every change including routine ones
Identity
Group key
MOTIONderivedthe codename stem after legal suffixes and deal words
Spellings
2 across 2 BDCsderived
Industry
Hotels, Restaurants and Leisurereportedas one filer wrote it