G•••

group grade Con a schedule nowsponsor unattributed

What matters now

100¢ → 93¢
consensus mark
Consensus mark 93¢ on cost, down from 100¢ in Q3 2025, 83¢ last quarter.
Q1 2026 · The lenders' own valuations, the most direct read of what they expect to recover.
Derived1 of 1 lender' own marks, weighted by principal
83¢ → 93¢
+10 pts, one lender
B•••••• P•••••• C••••• C••• marked it 83¢ → 93¢, the largest move among 1 lender this quarter.
Q1 2026 · One holder repriced far more than the rest.
FactB•••••• P•••••• C••••• C••• schedule of investmentsOpen the lender →

Mark path, consensus per quarter end

100¢ · 83¢ · 93¢Q3 2025 to Q1 2026

Principal held

at least $3.0M

sum of BDC pieces, a lower bound

Fair value

$2.6M

93c on cost, debt pieces

Unfunded

Not disclosed

commitments not yet drawn

BDC lenders

1 on the latest quarter

Facilities

0 equity pieces beside them

Next maturity

unstated

no dated debt inside 24 months

On the tape since

Sep 30, 2025

latest Mar 31, 2026

Events

dated, non-routine

Lender marks

each lender's own fair value over cost at Mar 31, 2026, folded to one row per lender

Lender	Exposure	Current mark	QoQ change
B•••••• P•••••• C••••• C•••	$2.98M	93¢	+10 pts

Every BDC piece · 1 position across 1 lenderlargest principal first, with instrument and rate

BDC	Instrument	Principal	Fair value	Rate
B•••••• P•••••• C••••• C•••	term loan first lien F•••• L••• S••••• S•••••• T••• L•••	$3.0M	$2.6M 93c	S+425 bp

Capital structure as the BDCs see it

latest quarter end Mar 31, 2026

Facility	Held	On cost	Pricing	Maturity	BDCs
first lien term loan first lien exited Mar 31, 2026	at least $3.0M	93c	S+425 bp	unstated	1

Through time

the borrower's pieces summed across BDCs, every quarter end

Quarter end	BDCs	Principal held	Fair value	On cost
Mar 31, 2026	1	$3.0M	$2.6M	93c
Dec 31, 2025	1	$3.0M	$2.3M	83c
Sep 30, 2025	1	$3.0M	$2.8M	100c

What changed

Identity