DFX Intelligence
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Borrower
E•• M••••• M•• H••••••• L••
Softwaregroup grade Aon a schedule nowsponsor unattributed
Also written as: Emerald JV LP; Verdelite JV LP
Principal held
at least $53.6M
sum of BDC pieces, a lower bound
Fair value
$50.9M
95c on cost, debt pieces
Unfunded
n/a
commitments not yet drawn
BDC lenders
4
4 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
May 1, 2030
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
2
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 $49.2M | 95c | SOFR+275 bp | May 9, 2030 | 3 |
| other lien unstated | at least $4.4M | 95c | S+275 bp | May 9, 2030 | 3 |
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A••• S•••••••• I••••• F••• | term loan first lien First lien senior secured loan | $21.3M | $20.2M 95c | S+275 bp |
| B••••••••• P•••••• C••••• F••• | unstated lien unstated | $4.4M | $4.2M 95c | S+275 bp |
| G•••• C•••••• P•••••• C••••• F••• | term loan first lien Senior secured | $23.2M | $22.1M 95c | S+275 bp |
| N•••• H•••• P•••••• I••••• F••• L•• | term loan first lien Investment First Lien Debt Reference Rate & Spread S + 2.75% Interest Rate 6.48% Maturity | $4.8M | $4.5M 95c | SOFR+275 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 | $53.6M | $50.9M | 95c | 0 |
| Mar 31, 2026 | 4 | $85.5M | $83.7M | 98c | 0 |
| Dec 31, 2025 | 4 | $92.2M | $92.7M | 100c | 0 |
| Sep 30, 2025 | 4 | $109M | $109M | 100c | 0 |
| Jun 30, 2025 | 3 | $56.0M | $56.3M | 100c | 0 |
| Mar 31, 2025 | 3 | $49.5M | $49.6M | 100c | 0 |
| Dec 31, 2024 | 3 | $97.3M | $98.3M | 101c | 0 |
| Sep 30, 2024 | 3 | $29.1M | $29.2M | 100c | 0 |
| Jun 30, 2024 | 2 | $26.8M | $27.0M | 101c | 0 |
| Mar 31, 2024 | 3 | $35.8M | $35.9M | 100c | 0 |
| Dec 31, 2023 | 3 | $41.5M | $41.6M | 101c | 0 |
| Sep 30, 2023 | 3 | $29.2M | $29.2M | 101c | 0 |
| Jun 30, 2023 | 2 | $27.3M | $27.0M | 100c | 0 |
| Mar 31, 2023 | 3 | $18.8M | $18.4M | 98c | 0 |
| Dec 31, 2022 | 3 | $26.4M | $25.4M | 97c | 0 |
| Sep 30, 2022 | 1 | $19.8M | $18.8M | 95c | 0 |
| Dec 31, 2021 | 1 | $30.0M | $30.1M | 100c | 0 |
What changed
- Spread changed (observed)Sep 30, 2025
- Lender left a facilityDec 31, 2024
- New lender joined a facilityDec 31, 2024
- Maturity extended (observed)Sep 30, 2024
- Maturity extended (observed)Mar 31, 2024
- New lender joined a facilitySep 30, 2023
- Lender left a facilityDec 31, 2022
- Marked down (one lender)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
- ECI MACOLA MAXderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 4 BDCsderived
- Industry
- Softwarereportedas one filer wrote it