DFX Intelligence
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Borrower
E••••••• I••
group grade Aoff every schedule since Dec 31, 2024sponsor unattributed
Also written as: Emerald JV LP; Inc. 1 Emerald JV LP; Inc. 2 Emerald JV LP
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
101¢ · 101¢ · 101¢ · 101¢ · 101¢Q4 2023 to Q4 2024
Principal held
at least $1.4B
sum of BDC pieces, a lower bound
Fair value
$1.4B
101c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
3
2 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
Nov 20, 2028
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Dec 31, 2024
Events
2
dated, non-routine
Lender marks
each lender's own fair value over cost at Dec 31, 2024, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| B••••••••• P•••••• C••••• F••• | $912M | 101¢ | 0 pts |
| B••••••••• S•••••• L•••••• F••• | $465M | 101¢ | 0 pts |
Every BDC piece · 10 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••••••••• S•••••• L•••••• F••• | unstated lien unstated N••••••••• I••••• | $219M | $219M 101c | S+500 bp |
| B••••••••• S•••••• L•••••• F••• | unstated lien unstated | $219M | $219M 101c | S+500 bp |
| B••••••••• P•••••• C••••• F••• | unstated lien unstated N••••••••• I••••• | $204M | $204M 101c | S+500 bp |
| B••••••••• P•••••• C••••• F••• | unstated lien unstated | $204M | $204M 101c | S+500 bp |
| B••••••••• P•••••• C••••• F••• | unstated lien unstated N••••••••• I••••• | $155M | $155M 101c | S+500 bp |
View all 10 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••••••••• P•••••• C••••• F••• | unstated lien unstated | $155M | $155M 101c | S+500 bp |
| B••••••••• P•••••• C••••• F••• | unstated lien unstated | $96.2M | $96.2M 100c | S+500 bp |
| B••••••••• P•••••• C••••• F••• | unstated lien unstated N••••••••• I••••• | $96.2M | $96.2M 100c | S+500 bp |
| B••••••••• S•••••• L•••••• F••• | unstated lien unstated N••••••••• I••••• | $13.6M | $13.6M 101c | S+500 bp |
| B••••••••• S•••••• L•••••• F••• | unstated lien unstated | $13.6M | $13.6M 101c | S+500 bp |
Capital structure as the BDCs see it
latest quarter end Dec 31, 2024
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| other lien unstated exited Dec 31, 2024 | at least $1.4B | 101c | S+500 bp | Nov 20, 2028 | 2 |
| first lien term loan first lien exited Sep 30, 2023 | at least $1.4M | 102c | S+711 bp | Sep 21, 2026 | 1 |
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Dec 31, 2024 | 2 | $1.4B | $1.4B | 101c | 0 |
| Sep 30, 2024 | 2 | $689M | $689M | 101c | 5 |
| Jun 30, 2024 | 2 | $686M | $686M | 101c | 5 |
| Mar 31, 2024 | 2 | $684M | $684M | 101c | 0 |
All 11 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Dec 31, 2023 | 2 | $684M | $684M | 101c | 0 |
| Sep 30, 2023 | 3 | $410M | $413M | 102c | 0 |
| Jun 30, 2023 | 3 | $411M | $414M | 102c | 0 |
| Mar 31, 2023 | 3 | $385M | $387M | 102c | 0 |
| Dec 31, 2022 | 3 | $413M | $417M | 102c | 0 |
| Sep 30, 2022 | 2 | $386M | $392M | 103c | 0 |
| Dec 31, 2021 | 2 | $388M | $393M | 103c | 0 |
What changed
- Facility left every BDC scheduleDec 31, 2024
- Maturity extended (observed)Dec 31, 2024
- PIK interest appearsJun 30, 2024
- PIK interest appearsJun 30, 2024
- Maturity extended (observed)Dec 31, 2023
Full timeline · 10 eventsShow fewer
- Facility left every BDC scheduleSep 30, 2023
- Maturity shortened (observed)Jun 30, 2023
- Maturity shortened (observed)Jun 30, 2023
- Maturity extended (observed)Mar 31, 2023
- Maturity extended (observed)Mar 31, 2023
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- EDIFECSderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 3 BDCsderived