The capital structure graph behind private markets. Who lent, to whom, under which sponsor, through which facility, how large the piece was, when it matures and what changed, with a filing behind every number. A BDC piece is that BDC's piece, a sum of pieces is a lower bound, and a sponsor is named with the evidence that names it.

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Borrower

F•••••••• R••• S••••• L••

Services: Businessgroup grade Aon a schedule nowsponsor T•• S••••••• G••••• L••• inferred
Also written as: Capital Goods; Frontline Road Safety Holdings II, LLC; Frontline Road Safety Investments, LLC; LLC - A; LLC - B; LLC Emerald JV LP
Principal held
at least $490M
sum of BDC pieces, a lower bound
Fair value
$470M
111c on cost, debt pieces
Unfunded
$52.7M
commitments not yet drawn
BDC lenders
8
8 on the latest quarter
Facilities
4
1 equity pieces beside them
Next maturity
Mar 1, 2032
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
3
dated, non-routine
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
FacilityHeldOn costPricingMaturityBDCs
other lien unstatedat least $485M111cS+475 bp
PIK 2.30%
Mar 4, 20326
first lien term loan first lienat least $5.1M97cS+500 bpMar 4, 20322
revolver lien unstatedunknownn/aunstated2
delayed draw term loan lien unstatedunknownn/aunstated4
Equity pieces beside the debt: equity ($48.8M fair value, 2 BDCs)
Lenders
every BDC piece at the latest quarter end
BDCInstrumentPrincipalFair valueRate
B••••••••• P•••••• C••••• F•••delayed draw term loan lien unstated
Delayed Draw Term Loan
n/an/a
B••••••••• P•••••• C••••• F•••unstated lien unstated
Non-Affiliated Issuer
$24.5M$23.8M
99c
S+475 bp
PIK 2.00%
B••••••••• P•••••• C••••• F•••revolver lien unstated
Revolver
n/an/a
B••••••••• P•••••• C••••• F•••unstated lien unstated
Non-Affiliated Issuer
$26.0M$25.5M
98c
S+475 bp
PIK 2.00%
B••••••••• P•••••• C••••• F•••unstated lien unstated
Non-Affiliated Issuer
$29.1M$28.5M
98c
S+475 bp
PIK 2.00%
B••••••••• P•••••• C••••• F•••unstated lien unstated
Non-Affiliated Issuer
$83.6M$81.9M
99c
S+475 bp
PIK 2.00%
B••••••••• P•••••• C••••• F•••unstated lien unstated
Non-Affiliated Issuer
$15.4M$15.1M
99c
S+475 bp
PIK 2.00%
B••••••••• S•••••• L•••••• F•••unstated lien unstated
Non-Affiliated Issuer
$4.8M$4.7M
99c
S+475 bp
PIK 2.00%
B••••••••• S•••••• L•••••• F•••unstated lien unstated
Non-Affiliated Issuer
$15.4M$15.1M
99c
S+475 bp
PIK 2.00%
B••••••••• S•••••• L•••••• F•••unstated lien unstated
Non-Affiliated Issuer
$2.8M$2.8M
99c
S+475 bp
PIK 2.00%
B••••••••• S•••••• L•••••• F•••delayed draw term loan lien unstated
Delayed Draw Term Loan
n/an/a
B••••••••• S•••••• L•••••• F•••unstated lien unstated
Non-Affiliated Issuer
$5.4M$5.3M
99c
S+475 bp
PIK 2.00%
B••••••••• S•••••• L•••••• F•••revolver lien unstated
Revolver
n/an/a
B••••••••• S•••••• L•••••• F•••unstated lien unstated
Non-Affiliated Issuer
$4.5M$4.4M
98c
S+475 bp
PIK 2.00%
F• K•• C•••••• C•••unstated lien unstated$5.0M$4.9M
98c
S+480 bp
F• K•• C•••••• C•••unstated lien unstated$9.3M$9.0M
97c
S+480 bp
F• K•• C•••••• C•••unstated lien unstatedn/an/a
F• K•• C•••••• C•••unstated lien unstated$107M$104M
98c
S+500 bp
PIK 2.30%
F• K•• C•••••• C•••unstated lien unstated$15.7M$15.3M
97c
S+480 bp
F• K•• C•••••• C•••unstated lien unstatedn/an/a
K•• E••••••• U• D••••• L•••••• F••••• I•••unstated lien unstated$13.0M$12.5MS+475 bp
K•• E••••••• U• D••••• L•••••• F••••• I•••unstated lien unstated$24.7M$24.0MS+250 bp
PIK 2.25%
K•• E••••••• U• D••••• L•••••• F••••• I•••unstated lien unstated$3.6M$3.5MS+250 bp
PIK 2.25%
K•• E••••••• U• D••••• L•••••• F••••• I•••unstated lien unstated$7.3M$7.1MS+250 bp
PIK 2.25%
K•• E••••••• U• D••••• L•••••• F••••• I•••unstated lien unstated$7.6M$7.4MS+250 bp
PIK 2.25%
K•• E••••••• U• D••••• L•••••• F••••• I•••unstated lien unstated$4.1M$-115,000S+475 bp
K•• F• I••••• T••••unstated lien unstatedn/an/a
K•• F• I••••• T••••unstated lien unstated$667,000$648,000
97c
S+700 bp
K•• F• I••••• T••••unstated lien unstated$4.2M$4.0M
97c
S+480 bp
K•• F• I••••• T••••unstated lien unstated$41.2M$40.0M
98c
S+500 bp
K•• F• I••••• T••••unstated lien unstatedn/an/a
K•• F• I••••• T••••unstated lien unstated$6,000$6,000
100c
S+700 bp
K•• F• I••••• T•••• S•••••unstated lien unstated$27.8M$27.0M
98c
S+500 bp
K•• F• I••••• T•••• S•••••unstated lien unstatedn/an/a
K•• F• I••••• T•••• S•••••unstated lien unstated$3.0M$2.9M
97c
S+480 bp
O•• S••••• P•••••• L•••••• F••• •• L••delayed draw term loan lien unstated
2026 Delayed Draw Term Loan
n/an/a
O•• S••••• P•••••• L•••••• F••• •• L••term loan first lien
First Lien Debt
$100,000$24,000
96c
S+500 bp
T• R••• P•••• O•• S••••• P•••••• C••••• F•••term loan first lien
First Lien Debt
$5.0M$1.2M
97c
S+500 bp
T• R••• P•••• O•• S••••• P•••••• C••••• F•••delayed draw term loan lien unstated
2026 Delayed Draw Term Loan
n/an/a
Through time
the borrower's pieces summed across BDCs, every quarter end
Quarter endBDCsPrincipal heldFair valueOn costPIK pieces
Jun 30, 20268$490M$470M111c15
Mar 31, 20266$466M$454M112c15
Dec 31, 20256$460M$447M113c16
Sep 30, 20256$405M$402M110c10
Jun 30, 20256$382M$374M110c9
Mar 31, 20256$285M$279M109c10
Dec 31, 20242$704M$704M101c0
Sep 30, 20242$329M$328M101c0
Jun 30, 20242$317M$317M101c0
Mar 31, 20242$307M$307M101c0
Dec 31, 20232$304M$299M100c0
Sep 30, 20232$272M$268M100c0
Jun 30, 20232$272M$261M97c0
Mar 31, 20232$260M$249M97c0
Dec 31, 20222$274M$257M95c0
Sep 30, 20222$262M$249M97c0
Dec 31, 20212$228M$219M98c0
What changed
Every change including routine ones
Identity
Group key
FRONTLINE ROAD SAFETYderivedthe codename stem after legal suffixes and deal words
Spellings
3 across 8 BDCsderived
Industry
Services: Businessreportedas one filer wrote it