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Borrower

C••• • C••• P••••••• L••

group grade Aon a schedule nowsponsor unattributed
Also written as: Emerald JV LP; Verdelite JV LP
See every lender's markFind rescue capital
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Special situations PE firms

What matters now

  1. 2 of 2 lenders
    on non-accrual

    Non-accrual at 2 of 2 lenders on the latest schedules, first placed in Q1 2026.

    since Q1 2026 · Interest has stopped accruing; the lenders no longer expect to be paid in full.

    FactBDC schedules of investments, 30 Jun 2026For restructuring advisers, special situations funds, the lenders' LPsSee every lender →
  2. 96¢ → 41¢
    consensus mark

    Consensus mark 41¢ on cost, down from 96¢ a year ago, 41¢ last quarter.

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

    Derived2 of 2 lenders' own marks, weighted by principal
  3. $51.9M
    principal outstanding

    $51.9M principal held by 2 lenders; matures Dec 2028.

    Q2 2026 · Refinancing is due in 26 months at a 41¢ mark.

    FactBDC schedules of investments, 30 Jun 2026; a sum of the BDCs' pieces, a lower bound
Mark path, consensus per quarter end
Q2 2025: 96¢Q3 2025: 92¢Q4 2025: 61¢Q1 2026: 41¢Q2 2026: 41¢96¢ · 92¢ · 61¢ · 41¢ · 41¢Q2 2025 to Q2 2026
Principal held
at least $51.9M
sum of BDC pieces, a lower bound
Fair value
$20.4M
41c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
4
2 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
Dec 1, 2028
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
5
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
B••••••••• P•••••• C••••• F•••$49.5M41¢0 pts
G•••• C•••••• P•••••• C••••• F•••$2.41M40¢0 pts
Every BDC piece · 4 positions across 2 lenderslargest principal first, with instrument and rate
BDCInstrumentPrincipalFair valueRate
B••••••••• P•••••• C••••• F•••unstated lien unstated$36.2M$14.2M
41c
S+375 bp
B••••••••• P•••••• C••••• F•••unstated lien unstated
N••••••••• I•••••
$11.4M$4.5M
40c
S+375 bp
G•••• C•••••• P•••••• C••••• F•••term loan first lien
S••••• secured
$2.4M$945,000
40c
S+375 bp
B••••••••• P•••••• C••••• F•••unstated lien unstated$1.9M$736,000
40c
S+375 bp
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
FacilityHeldOn costPricingMaturityBDCs
other lien unstatedat least $49.5M41cS+375 bpDec 29, 20281
first lien term loan first lienat least $2.4M40cS+375 bpDec 1, 20281
Through time
the borrower's pieces summed across BDCs, every quarter end
Quarter endBDCsPrincipal heldFair valueOn costPIK pieces
Jun 30, 20262$51.9M$20.4M41c0
Mar 31, 20262$52.0M$20.9M41c0
Dec 31, 20252$52.1M$31.5M61c0
Sep 30, 20252$55.3M$50.2M92c0
All 17 quarters
Quarter endBDCsPrincipal heldFair valueOn costPIK pieces
Jun 30, 20252$53.4M$50.6M96c0
Mar 31, 20253$83.3M$80.3M98c0
Dec 31, 20243$147M$143M98c0
Sep 30, 20243$48.7M$48.8M101c0
Jun 30, 20243$44.8M$44.9M101c0
Mar 31, 20242$26.0M$26.1M101c0
Dec 31, 20232$31.5M$31.5M101c0
Sep 30, 20232$23.1M$23.0M100c0
Jun 30, 20232$9.6M$9.4M99c0
Mar 31, 20231$1.2M$1.2M102c0
Dec 31, 20222$6.1M$6.0M99c0
Sep 30, 20221$23.5M$22.9M98c0
Dec 31, 20211$7.0M$7.0M101c0
What changed
Full timeline · 14 events
Every change including routine ones
Identity
Group key
CAST AND CREW PAYROLLderivedthe codename stem after legal suffixes and deal words
Spellings
1 across 4 BDCsderived