M•••••• M••••••••• M•••• S•• r••

Softwaregroup grade Aon a schedule nowsponsor unattributed

Also written as: M•••••• M••••••••• M•••• S.ï¿½ r.l

See every lender's mark Find rescue capital

Special situations PE firms

What matters now

101¢ → 100¢
consensus mark
Consensus mark 100¢ on cost, down from 101¢ a year ago, 103¢ last quarter.
Q2 2026 · The lenders' own valuations, the most direct read of what they expect to recover.
Derived1 of 1 lender' own marks, weighted by principal

Mark path, consensus per quarter end

101¢ · 101¢ · 101¢ · 103¢ · 100¢Q2 2025 to Q2 2026

Principal held

at least $39.4M

sum of BDC pieces, a lower bound

Fair value

$40.1M

100c on cost, debt pieces

Unfunded

Not disclosed

commitments not yet drawn

BDC lenders

1 on the latest quarter

Facilities

1 equity pieces beside them

Next maturity

Nov 27, 2030

no dated debt inside 24 months

On the tape since

Dec 31, 2024

latest Jun 30, 2026

Events

dated, non-routine

Lender marks

each lender's own fair value over cost at Jun 30, 2026, folded to one row per lender

Lender	Exposure	Current mark	QoQ change
A••••• D••• S•••••••• B••	$39.4M	100¢	-3 pts

Every BDC piece · 4 positions across 1 lenderlargest principal first, with instrument and rate

BDC	Instrument	Principal	Fair value	Rate
A••••• D••• S•••••••• B••	term loan first lien F•••• L••• S•••••• D••• - T••• L••• E+500, 0.75% F•••• M••••••• D••• 11/27/2031	$21.2M	$22.9M 103c	//gwms.apollo.com/20260630#Euro Interbank Offered Rate+500 bp
A••••• D••• S•••••••• B••	term loan first lien F•••• L••• S•••••• D••• - T••• L••• E+500, 0.75% F•••• M••••••• D••• 11/27/2031 One	$15.9M	$14.9M 95c	SOFR+500 bp
A••••• D••• S•••••••• B••	delayed draw term loan first lien F•••• L••• S•••••• D••• - D•••••• D••• E+500, 0.75% F•••• M••••••• D••• 11/27/2031	$1.9M	$2.0M 103c	//gwms.apollo.com/20260630#Euro Interbank Offered Rate+500 bp
A••••• D••• S•••••••• B••	revolver first lien F•••• L••• S•••••• D••• - R••••••• E+500, 0.75% F•••• M••••••• D••• 11/27/2030	$429,000	$253,000 64c	//gwms.apollo.com/20260630#Euro Interbank Offered Rate+500 bp

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 $37.0M	100c	//gwms.apollo.com/20260630#Euro Interbank Offered Rate+500 bp	Nov 27, 2031	1
first lien delayed draw term loan first lien	at least $1.9M	103c	//gwms.apollo.com/20260630#Euro Interbank Offered Rate+500 bp	Nov 27, 2031	1
first lien revolver first lien	at least $429,000	64c	//gwms.apollo.com/20260630#Euro Interbank Offered Rate+500 bp	Nov 27, 2030	1

Equity pieces beside the debt: other ($38.7M fair value, 1 BDC)

Through time

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

Quarter end	BDCs	Principal held	Fair value	On cost
Jun 30, 2026	1	$39.4M	$40.1M	100c
Mar 31, 2026	1	$40.0M	$42.0M	103c
Dec 31, 2025	1	$43.2M	$47.8M	108c
Sep 30, 2025	1	$37.2M	$40.8M	108c

All 7 quarters

Quarter end	BDCs	Principal held	Fair value	On cost
Jun 30, 2025	1	$37.2M	$40.8M	108c
Mar 31, 2025	1	$37.2M	$38.7M	102c
Dec 31, 2024	1	$76.4M	$76.5M	99c

What changed

Marked down across lendersJun 30, 2026
••• Locked
Marked down (one lender)Jun 30, 2026
••• Locked
Marked down (one lender)Mar 31, 2026
••• Locked
Marked down (one lender)Mar 31, 2026
••• Locked
Marked down (one lender)Dec 31, 2025
••• Locked

Full timeline · 8 events

Mark recoveredMar 31, 2025
••• Locked
Marked down (one lender)Mar 31, 2025
••• Locked
New borrower on a BDC scheduleDec 31, 2024
••• Locked

Every change including routine ones

Identity

Group key: M FILES METATIEDOTderivedthe codename stem after legal suffixes and deal words
Spellings: 2 across 1 BDCderived
Industry: Softwarereportedas one filer wrote it