DFX Intelligence
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Borrower
V••••• M•••• B••••••• L••
Diversified Telecommunication Servicesgroup grade Aon a schedule nowsponsor unattributed
Also written as: Emerald JV LP; LLC 1 Emerald JV LP; Telecom; Verdelite JV LP
Principal held
at least $10.5M
sum of BDC pieces, a lower bound
Fair value
$9.3M
90c on cost, debt pieces
Unfunded
n/a
commitments not yet drawn
BDC lenders
12
4 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
Mar 31, 2031
no dated debt inside 24 months
On the tape since
Dec 31, 2021
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 $7.8M | 90c | SOFR+318 bp | Mar 31, 2031 | 8 |
| other lien unstated | at least $2.7M | 90c | S+318 bp | Mar 31, 2031 | 4 |
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A•••••• P•••••• C••••• F••• | term loan first lien Asset T••• F•••• L••• T••• L••• R•••••••• R••• and S••••• S + 3.18% I••••••• R••• 7.15% M• | $1.5M | $1.3M 89c | SOFR+318 bp |
| A•••••• S•••••••• C••••• F••• | term loan first lien Asset T••• F•••• L••• T••• L••• R•••••••• R••• and S••••• S + 3.18% I••••••• R••• 7.15% M• | $4.4M | $3.9M 90c | SOFR+318 bp |
| B••••••••• P•••••• C••••• F••• | unstated lien unstated | $2.7M | $2.4M 90c | S+318 bp |
| C••••••• P•••••• C••••• I••••• C••• | term loan first lien Investment T••• S••••• S•••••• F•••• L••• T••• L••• I••••••• T••• S + 318 I••••••• R••• 6. | $1.9M | $1.7M 90c | SOFR+318 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 | 4 | $10.5M | $9.3M | 90c | 0 |
| Mar 31, 2026 | 4 | $11.8M | $10.8M | 92c | 0 |
| Dec 31, 2025 | 4 | $14.0M | $13.9M | 100c | 0 |
| Sep 30, 2025 | 6 | $21.4M | $21.1M | 100c | 0 |
| Jun 30, 2025 | 4 | $8.6M | $8.5M | 100c | 0 |
| Mar 31, 2025 | 4 | $8.6M | $8.3M | 97c | 0 |
| Dec 31, 2024 | 7 | $35.3M | $35.0M | 100c | 0 |
| Sep 30, 2024 | 5 | $18.4M | $17.6M | 97c | 0 |
| Jun 30, 2024 | 6 | $21.6M | $20.5M | 96c | 0 |
| Mar 31, 2024 | 4 | $17.9M | $17.6M | 99c | 0 |
| Dec 31, 2023 | 3 | $20.9M | $20.9M | 101c | 0 |
| Sep 30, 2023 | 3 | $11.8M | $11.5M | 98c | 0 |
| Jun 30, 2023 | 2 | $7.0M | $6.2M | 101c | 0 |
| Mar 31, 2023 | 1 | $1.5M | $1.5M | 99c | 0 |
| Dec 31, 2022 | 1 | $3.5M | $3.5M | 100c | 0 |
| Dec 31, 2021 | 1 | $2.5M | $2.5M | 100c | 0 |
What changed
- Marked down across lendersMar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- New lender joined a facilitySep 30, 2025
- Lender left a facilitySep 30, 2025
- Lender left a facilitySep 30, 2025
- New lender joined a facilitySep 30, 2025
- Lender left a facilityJun 30, 2025
- Lender left a facilityDec 31, 2024
- Lender left a facilityDec 31, 2024
- New lender joined a facilityDec 31, 2024
- Maturity extended (observed)Jun 30, 2024
- New lender joined a facilityJun 30, 2024
- New lender joined a facilityJun 30, 2024
- Lender left a facilityJun 30, 2024
- New lender joined a facilityMar 31, 2024
- New lender joined a facilitySep 30, 2023
- Lender left a facilityMar 31, 2023
- Lender left a facilityDec 31, 2021
- New borrower on a BDC scheduleDec 31, 2021
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- V••••• M•••• B••••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 12 BDCsderived
- Industry
- Diversified Telecommunication Servicesreportedas one filer wrote it