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Borrower

T•••• B•••• C•••

Services: Businessgroup grade Aon a schedule nowsponsor not established · possible relationship
Also written as: Emerald JV LP; Global Claims Services; T•••• Acquisition, LLC; T•••• B•••• C•••. 1; T•••• B•••• C•••. 2; Verdelite JV LP
See every lender's markFind rescue capital
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Special situations PE firms

What matters now

  1. 100¢ → 85¢
    consensus mark

    Consensus mark 85¢ on cost, down from 100¢ a year ago, 100¢ last quarter.

    Q2 2026 · The lenders' own valuations, the most direct read of what they expect to recover.

    Derived1 of 5 lenders' own marks, weighted by principal
  2. $73.8M
    principal outstanding

    $73.8M principal held by 5 lenders; matures Aug 2028.

    Q2 2026 · Refinancing is due in 22 months at a 85¢ mark.

    FactBDC schedules of investments, 30 Jun 2026; a sum of the BDCs' pieces, a lower bound
  3. 73¢ → 85¢
    +12 pts, one lender

    S••••• C•••• C•••••• C••• marked it 73¢ → 85¢, the largest move among 5 lenders this quarter.

    Q2 2026 · One holder repriced far more than the rest.

    FactS••••• C•••• C•••••• C••• schedule of investmentsOpen the lender →
Mark path, consensus per quarter end
Q2 2025: 100¢Q3 2025: 98¢Q4 2025: 96¢Q1 2026: 100¢Q2 2026: 85¢100¢ · 98¢ · 96¢ · 100¢ · 85¢Q2 2025 to Q2 2026
Principal held
at least $73.8M
sum of BDC pieces, a lower bound
Fair value
$62.6M
117c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
16
5 on the latest quarter
Facilities
4
0 equity pieces beside them
Next maturity
Aug 1, 2028
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
10
dated, non-routine
Lender marks
each lender's own fair value over cost at Jun 30, 2026, folded to one row per lender
LenderExposureCurrent markQoQ change
N•• M••••••• F•••••• C•••$27.5Mno cost filednew this quarter
N•• M••••••• G••••••• I• B••• L•••••$22Mno cost filednew this quarter
N•• M••••••• P•••••• C••••• F•••$20.6Mno cost filednew this quarter
N•• M••••••• G••••••• I• I••••• F•••• L•••••$3.35Mno cost filednew this quarter
S••••• C•••• C•••••• C•••$247K85¢+12 pts
Every BDC piece · 5 positions across 5 lenderslargest principal first, with instrument and rate
BDCInstrumentPrincipalFair valueRate
N•• M••••••• F•••••• C•••term loan first lien
F•••• lien
$27.5M$23.4M
118c
S+175 bp
N•• M••••••• G••••••• I• B••• L•••••term loan first lien
F•••• L•••
$22.0M$18.7M
116c
S+175 bp
N•• M••••••• P•••••• C••••• F•••term loan first lien
F•••• L••• | N••••••••• I•••••
$20.6M$17.5M
116c
S+175 bp
N•• M••••••• G••••••• I• I••••• F•••• L•••••term loan first lien
F•••• L••• | N••••••••• I•••••
$3.4M$2.8M
124c
S+175 bp
S••••• C•••• C•••••• C•••term loan first lien
F•••• L••• - T••• L•••
$247,000$210,000
85c
S+175 bp
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
FacilityHeldOn costPricingMaturityBDCs
first lien term loan first lienat least $73.8M117cS+175 bpAug 31, 202815
other lien unstated
exited Mar 31, 2026
at least $8.3M73cS+175 bpAug 31, 20283
first lien delayed draw term loan first lien
exited Dec 31, 2023
unknownn/aunstated4
first lien revolver first lien
exited Mar 31, 2025
unknownn/aS+475 bpunstated4
Through time
the borrower's pieces summed across BDCs, every quarter end
Quarter endBDCsPrincipal heldFair valueOn costPIK pieces
Jun 30, 20265$73.8M$62.6M117c0
Mar 31, 20267$67.8M$49.2M97c0
Dec 31, 20255$35.9M$34.5M96c0
Sep 30, 20255$28.4M$27.9M98c0
All 17 quarters
Quarter endBDCsPrincipal heldFair valueOn costPIK pieces
Jun 30, 20254$29.0M$28.8M100c0
Mar 31, 20259$102M$102M101c0
Dec 31, 20248$103M$103M101c0
Sep 30, 20248$89.5M$89.5M101c0
Jun 30, 20248$92.3M$92.3M101c0
Mar 31, 20248$89.7M$89.5M101c0
Dec 31, 20237$87.8M$87.2M101c0
Sep 30, 20235$81.8M$80.7M100c0
Jun 30, 20235$82.7M$81.3M100c0
Mar 31, 20235$82.2M$80.6M100c0
Dec 31, 20225$79.9M$77.4M99c0
Sep 30, 20221$0$0n/a0
Dec 31, 20211$1.1M$1.1M100c0
What changed
Full timeline · 30 events
Every change including routine ones
Identity
Group key
TEMPOderivedthe codename stem after legal suffixes and deal words
Spellings
4 across 16 BDCsderived
Industry
Services: Businessreportedas one filer wrote it