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Borrower

U•• W•••• I••••••••• H•••••••• L••

group grade Aon a schedule nowsponsor unattributed
Also written as: USA W••••; W••••; W•••• Buyer, LLC; W•••• Holdings Acquisition LLC
See every lender's markFind rescue capital
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Special situations PE firms

Nothing material in the last 200 days. No dated change on record yet.

Mark path, consensus per quarter end
Q2 2025: 101¢Q3 2025: 101¢Q4 2025: 101¢Q1 2026: 101¢Q2 2026: 100¢101¢ · 101¢ · 101¢ · 101¢ · 100¢Q2 2025 to Q2 2026
Where each lender marks it, 0 points apart
100¢Consensus: 100¢N••••• C•••••••• P•••••• C•••••• I••••• F•••: 100¢N••••• C•••••••• D••••• L•••••• C••••: 100¢100¢
Principal held
at least $37.7M
sum of BDC pieces, a lower bound
Fair value
$31.7M
100c on cost, debt pieces
Unfunded
$5.9M
commitments not yet drawn
BDC lenders
8
2 on the latest quarter
Facilities
5
0 equity pieces beside them
Next maturity
Feb 21, 2031
no dated debt inside 24 months
On the tape since
Jun 30, 2023
latest Jun 30, 2026
Events
14
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
N••••• C•••••••• P•••••• C•••••• I••••• F•••$27M100¢0 pts
N••••• C•••••••• D••••• L•••••• C••••$10.7M100¢0 pts
Every BDC piece · 8 positions across 2 lenderslargest principal first, with instrument and rate
BDCInstrumentPrincipalFair valueRate
N••••• C•••••••• P•••••• C•••••• I••••• F•••term loan first lien
F•••• L••• D••• 2
$13.2M$13.1M
100c
S+450 bp
N••••• C•••••••• D••••• L•••••• C••••term loan first lien
F•••• L••• D•••
$7.7M$7.7M
100c
S+450 bp
N••••• C•••••••• P•••••• C•••••• I••••• F•••delayed draw term loan first lien
F•••• L••• D••• (D•••••• D•••) 1
$5.7M$1.0M
97c
S+450 bp
N••••• C•••••••• P•••••• C•••••• I••••• F•••term loan first lien
F•••• L••• D••• 1
$4.7M$4.7M
100c
S+450 bp
N••••• C•••••••• P•••••• C•••••• I••••• F•••delayed draw term loan first lien
F•••• L••• D••• (D•••••• D•••) 2
$3.5M$2.8M
99c
S+450 bp
View all 8 positionslargest principal first
BDCInstrumentPrincipalFair valueRate
N••••• C•••••••• D••••• L•••••• C••••delayed draw term loan first lien
F•••• L••• D••• (D•••••• D•••)
$3.0M$2.4M
99c
S+450 bp
N••••• C•••••••• D••••• L•••••• C••••delayed draw term loan first lien
D•••••• D••• L•••
Not disclosedNot disclosed
N••••• C•••••••• P•••••• C•••••• I••••• F•••delayed draw term loan first lien
D•••••• D••• L•••
Not disclosedNot disclosed
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
FacilityHeldOn costPricingMaturityBDCs
first lien term loan first lienat least $25.6M100cS+450 bpFeb 21, 20315
first lien delayed draw term loan first lienat least $12.2M99cS+450 bpFeb 21, 20315
delayed draw term loan lien unstated
exited Mar 31, 2026
at least $255M101cS+525 bpJul 31, 20315
other lien unstated
exited Mar 31, 2025
at least $23.4M101cS+475 bpFeb 21, 20315
first lien revolver first lien
exited Dec 31, 2025
at least $3.0M100cS+525 bpAug 8, 20302
Through time
the borrower's pieces summed across BDCs, every quarter end
Quarter endBDCsPrincipal heldFair valueOn costPIK pieces
Jun 30, 20262$37.7M$31.7M100c0
Mar 31, 20264$288M$281M101c0
Dec 31, 20255$512M$502M101c6
Sep 30, 20255$286M$275M101c4
All 14 quarters
Quarter endBDCsPrincipal heldFair valueOn costPIK pieces
Jun 30, 20255$280M$268M101c1
Mar 31, 20255$265M$250M100c2
Dec 31, 20245$524M$492M100c4
Sep 30, 20245$256M$239M100c0
Jul 31, 20241$2.9M$2.2M100c0
Jun 30, 20243$20.8M$14.9M100c0
Mar 31, 20243$20.8M$14.9M100c0
Dec 31, 20233$33.4M$33.4M103c0
Sep 30, 20231$33.1M$33.1M103c0
Jun 30, 20231$33.1M$32.1M100c0
What changed
Full timeline · 30 events
Every change including routine ones
Identity
Group key
WATERderivedthe codename stem after legal suffixes and deal words
Spellings
4 across 8 BDCsderived