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Borrower

M•••••• B••••• L••

Softwaregroup grade Aon a schedule nowsponsor unattributed
Also written as: Emerald JV LP; LLC - Second-Out; LLC - Third-Out; LLC -First out; Trellix
Principal held
at least $16.8M
sum of BDC pieces, a lower bound
Fair value
$3.7M
35c on cost, debt pieces
Unfunded
n/a
commitments not yet drawn
BDC lenders
12
3 on the latest quarter
Facilities
3
0 equity pieces beside them
Next maturity
Jul 27, 2028
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
36
dated, non-routine
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
FacilityHeldOn costPricingMaturityBDCs
first lien term loan first lienat least $16.8M35cSOFR+700 bpJul 27, 202810
other lien unstated
exited Dec 31, 2024
at least $4.9M30cS+500 bpunstated2
second lien term loan second lien
exited Mar 31, 2026
at least $2.4M33cSOFR+726 bpJul 27, 20286
Lenders
every BDC piece at the latest quarter end
BDCInstrumentPrincipalFair valueRate
B•••••••• D••••• L•••••• C••••term loan first lien
I••••••••• F•••• L••• F•••• Out T••• L••• Ref S•••(Q) F•••• 0.75% S••••• 6.25% T•••• C••••
$0$0
0c
SOFR+625 bp
B•••••••• D••••• L•••••• C••••term loan first lien
I••••••••• F•••• L••• T••• L••• Ref S•••(Q) F•••• 0.75% S••••• 6.25% T•••• C••••• 9.92% M•
$94,668$93,272
99c
SOFR+625 bp
N•••• H•••• P•••••• I••••• F••• L••term loan first lien
Investment F•••• L••• D••• R•••••••• R••• & S••••• S + 5.00% I••••••• R••• 8.93% M•••••••
$4.8M$1.4M
30c
SOFR+500 bp
O••••• S••••• C•••••• C••••term loan first lien
S••••• S•••••• N•••• first lien first out senior secured notes
$234,573$157,164
72c
S+675 bp
O••••• S••••• C•••••• C••••term loan first lien
S••••• S•••••• N•••• first lien second out senior secured notes
$1.3M$483,192
46c
S+700 bp
O••••• S••••• C•••••• C••••term loan first lien
S••••• S•••••• N•••• first lien third out senior secured notes
$10.3M$1.6M
35c
S+625 bp
Through time
the borrower's pieces summed across BDCs, every quarter end
Quarter endBDCsPrincipal heldFair valueOn costPIK pieces
Jun 30, 20263$16.8M$3.7M35c0
Mar 31, 20264$21.7M$7.3M50c0
Dec 31, 20254$21.7M$7.7M54c0
Sep 30, 20254$22.7M$13.6M65c2
Jun 30, 20256$29.6M$16.6M60c2
Mar 31, 20256$31.2M$18.8M64c7
Dec 31, 20246$55.2M$28.3M58c15
Sep 30, 20246$52.0M$26.9M58c0
Jun 30, 20248$126M$61.9M52c0
Mar 31, 20247$58.9M$27.5M53c0
Dec 31, 20239$73.1M$40.6M57c0
Sep 30, 20238$69.6M$44.7M67c0
Jun 30, 20238$59.1M$42.4M79c0
Mar 31, 20238$59.1M$48.2M90c0
Dec 31, 20226$63.6M$52.8M85c0
Sep 30, 20222$8.5M$7.7M96c0
Dec 31, 20211$9.7M$9.7M100c0
What changed
Every change including routine ones
Identity
Group key
MAGENTAderivedthe codename stem after legal suffixes and deal words
Spellings
1 across 12 BDCsderived
Industry
Softwarereportedas one filer wrote it