M••••• H•••••• G•••

group grade Aon a schedule nowsponsor unattributed

What matters now

101¢ → 97¢
consensus mark
Consensus mark 97¢ on cost, down from 101¢ in Q3 2025.
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

Mark path, consensus per quarter end

101¢ · 97¢Q3 2025 to Q1 2026

Principal held

at least $1.0M

sum of BDC pieces, a lower bound

Fair value

$969,000

97c 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

Dec 1, 2029

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
G•••• C•••••• D••••• L•••••• C•••	$1.01M	97¢	-4 pts

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

BDC	Instrument	Principal	Fair value	Rate
G•••• C•••••• D••••• L•••••• C•••	term loan first lien One stop	$1.0M	$969,000 97c	S+625 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 $1.0M	97c	S+625 bp	Dec 1, 2029	1

Through time

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

Quarter end	BDCs	Principal held	Fair value	On cost	PIK pieces
Mar 31, 2026	1	$1.0M	$969,000	97c	0
Sep 30, 2025	3	$28.1M	$27.9M	101c	0

What changed

Identity

Group key: MATRIX #DEderivedthe codename stem after legal suffixes and deal words
Spellings: 1 across 3 BDCsderived