DFX Intelligence
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Borrower
T•••• P••••••••• I••
Industrial Products & Services Rate S+6.00%, 1.00% Floorgroup grade Aon a schedule nowsponsor unattributed
Also written as: Emerald JV LP; T•••• Acquisition Ltd; T•••• Co-Borrower, LLC; T•••• Investment Company, Inc; T•••• Sub LLC; T•••• US Finco, LLC
Principal held
at least $58.3M
sum of BDC pieces, a lower bound
Fair value
$25.6M
44c on cost, debt pieces
Unfunded
n/a
commitments not yet drawn
BDC lenders
8
2 on the latest quarter
Facilities
3
0 equity pieces beside them
Next maturity
Jul 31, 2026
$44.0M inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
9
dated, non-routine
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| delayed draw term loan lien unstated | at least $44.0M | 26c | S+675 bp | Mar 20, 2027 | 2 |
| first lien term loan first lien | at least $14.3M | 103c | SOFR+600 bp | Mar 1, 2030 | 5 |
| other lien unstated exited Mar 31, 2026 | at least $43.7M | 39c | S+675 bp PIK 10.57% | Mar 20, 2027 | 3 |
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••••••••• S•••••• L•••••• F••• | delayed draw term loan lien unstated Non-Affiliated Issuer | $1.5M | $1.5M 100c | S+675 bp |
| B••••••••• S•••••• L•••••• F••• | delayed draw term loan lien unstated Non-Affiliated Issuer | $1.8M | $1.8M 100c | S+675 bp |
| B••••••••• S•••••• L•••••• F••• | delayed draw term loan lien unstated Non-Affiliated Issuer | $40.7M | $8.0M 20c | S+575 bp |
| S••••• P•••• S•••••••• L•••••• F••• | term loan first lien 1st Lien/S•••••• Loans Instrument 1st Lien Term Loan Industry Industrial Products & Servic | $14.3M | $14.3M 103c | SOFR+600 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 | 2 | $58.3M | $25.6M | 44c | 0 |
| Mar 31, 2026 | 2 | $58.2M | $31.5M | 55c | 2 |
| Dec 31, 2025 | 3 | $64.7M | $55.1M | 86c | 0 |
| Sep 30, 2025 | 3 | $64.9M | $59.3M | 93c | 0 |
| Jun 30, 2025 | 6 | $88.7M | $81.5M | 94c | 0 |
| Mar 31, 2025 | 6 | $74.6M | $72.0M | 98c | 0 |
| Dec 31, 2024 | 7 | $196M | $192M | 99c | 0 |
| Sep 30, 2024 | 5 | $81.6M | $79.6M | 99c | 0 |
| Jun 30, 2024 | 4 | $75.5M | $73.6M | 100c | 0 |
| Mar 31, 2024 | 4 | $76.0M | $74.2M | 100c | 0 |
| Dec 31, 2023 | 2 | $53.3M | $50.8M | 97c | 0 |
| Sep 30, 2023 | 1 | $41.7M | $39.4M | 97c | 0 |
| Jun 30, 2023 | 1 | $41.8M | $39.5M | 97c | 0 |
| Mar 31, 2023 | 1 | $41.9M | $40.0M | 99c | 0 |
| Dec 31, 2022 | 1 | $42.0M | $40.1M | 99c | 0 |
| Sep 30, 2022 | 1 | $42.1M | $40.2M | 99c | 0 |
| Dec 31, 2021 | 1 | $42.5M | $42.7M | 105c | 0 |
What changed
- Maturity approachingMar 20, 2027
- Maturity approachingMar 20, 2027
- Maturity approachingMar 20, 2027
- Facility left every BDC scheduleMar 31, 2026
- Marked down (one lender)Mar 31, 2026
- PIK interest appearsMar 31, 2026
- Spread increasedMar 31, 2026
- New lender joined a facilityMar 31, 2026
- Lender left a facilityDec 31, 2025
- Marked down (one lender)Dec 31, 2025
- Lender left a facilityDec 31, 2025
- Mark recoveredSep 30, 2025
- Marked down (one lender)Sep 30, 2025
- Marked down across lendersJun 30, 2025
- New lender joined a facilityJun 30, 2025
- Lender left a facilityJun 30, 2025
- Lender left a facilityJun 30, 2025
- Marked down (one lender)Jun 30, 2025
- Lender left a facilityMar 31, 2025
- Maturity extended (observed)Dec 31, 2024
- Lender left a facilityDec 31, 2024
- New lender joined a facilityDec 31, 2024
- New lender joined a facilityDec 31, 2024
- New lender joined a facilityMar 31, 2024
- Maturity extended (observed)Mar 31, 2024
- Spread changed (observed)Mar 31, 2024
- New lender joined a facilityMar 31, 2024
- New lender joined a facilityMar 31, 2024
- 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
- TITANderivedthe codename stem after legal suffixes and deal words
- Spellings
- 5 across 8 BDCsderived
- Industry
- Industrial Products & Services Rate S+6.00%, 1.00% Floorreportedas one filer wrote it