DFX Intelligence
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Borrower
W•••••• M••••• E••••••• E••••••••• L••
group grade Aoff every schedule since Dec 31, 2024sponsor unattributed
Also written as: LLC 1 Emerald JV LP; LLC Emerald JV LP
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
101¢ · 100¢ · 100¢ · 100¢ · 100¢Q4 2023 to Q4 2024
Principal held
at least $59.6M
sum of BDC pieces, a lower bound
Fair value
$59.7M
100c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
May 1, 2025
$59.6M inside 24 months
On the tape since
Sep 30, 2022
latest Dec 31, 2024
Events
3
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 |
|---|---|---|---|
| A••• S•••••••• I••••• F••• | $39.6M | 100¢ | 0 pts |
| B••••••••• P•••••• C••••• F••• | $19.9M | 100¢ | new this quarter |
Every BDC piece · 3 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A••• S•••••••• I••••• F••• | term loan first lien F•••• lien senior secured loan | $39.6M | $39.7M 100c | S+275 bp |
| B••••••••• P•••••• C••••• F••• | unstated lien unstated N••••••••• I••••• | $10.0M | $10.0M 100c | S+275 bp |
| B••••••••• P•••••• C••••• F••• | unstated lien unstated | $10.0M | $10.0M 100c | S+275 bp |
Capital structure as the BDCs see it
latest quarter end Dec 31, 2024
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Dec 31, 2024 | at least $39.6M | 100c | S+275 bp | May 1, 2025 | 1 |
| other lien unstated exited Dec 31, 2024 | at least $19.9M | 100c | S+275 bp | May 18, 2025 | 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 | $59.6M | $59.7M | 100c | 0 |
| Sep 30, 2024 | 1 | $32.4M | $32.4M | 100c | 0 |
| Jun 30, 2024 | 1 | $29.5M | $29.6M | 100c | 0 |
| Mar 31, 2024 | 2 | $26.8M | $26.7M | 100c | 0 |
All 10 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Dec 31, 2023 | 2 | $22.9M | $22.9M | 101c | 0 |
| Sep 30, 2023 | 2 | $17.6M | $17.5M | 100c | 0 |
| Jun 30, 2023 | 2 | $7.1M | $7.1M | 101c | 0 |
| Mar 31, 2023 | 1 | $4.1M | $4.1M | 100c | 0 |
| Dec 31, 2022 | 2 | $6.1M | $6.0M | 101c | 0 |
| Sep 30, 2022 | 1 | $4.5M | $4.3M | 99c | 0 |
What changed
- Facility left every BDC scheduleDec 31, 2024
- Facility left every BDC scheduleDec 31, 2024
- Spread increasedDec 31, 2022
- New borrower on a BDC scheduleSep 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
- W•••••• M••••• E••••••• E•••••••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived