DFX Intelligence
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Borrower
W•• H•••••••• L••
group grade Aon a schedule nowsponsor unattributed
Also written as: Blade Landscape Investments
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
101¢ · 101¢ · 101¢ · 100¢ · 100¢Q2 2025 to Q2 2026
Principal held
at least $9.2M
sum of BDC pieces, a lower bound
Fair value
$9.3M
100c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
3
1 equity pieces beside them
Next maturity
Apr 11, 2030
no dated debt inside 24 months
On the tape since
Jun 30, 2024
latest Jun 30, 2026
Events
1
dated, non-routine
Lender marks
each lender's own fair value over cost at Jun 30, 2026, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| S•••••• C•••••• I••••••••• C••• | $5.6M | 100¢ | 0 pts |
| S•••••• P•••••• C••••• B•• | $3.61M | 100¢ | 0 pts |
Every BDC piece · 16 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| S•••••• C•••••• I••••••••• C••• | term loan lien unstated T••• L••• (S•••) | $2.7M | $2.6M 100c | 5.50% |
| S•••••• C•••••• I••••••••• C••• | delayed draw term loan lien unstated D•••••• D••• T••• L••• | $1.3M | $1.3M 100c | 5.50% |
| S•••••• P•••••• C••••• B•• | term loan lien unstated T••• L••• Two | $1.2M | $1.2M 100c | SOFR+550 bp |
| S•••••• C•••••• I••••••••• C••• | delayed draw term loan lien unstated D•••••• D••• T••• L••• One | $882,574 | $873,748 100c | 5.50% |
| S•••••• P•••••• C••••• B•• | term loan lien unstated T••• L••• | $775,967 | $768,207 100c | SOFR+550 bp |
View all 16 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| S•••••• P•••••• C••••• B•• | delayed draw term loan lien unstated D•••••• D••• T••• L••• One | $536,672 | $531,305 100c | SOFR+550 bp |
| S•••••• C•••••• I••••••••• C••• | term loan lien unstated T••• L••• (S•••) One | $422,616 | $418,390 100c | 5.50% |
| S•••••• P•••••• C••••• B•• | delayed draw term loan lien unstated D•••••• D••• T••• L••• | $358,924 | $355,335 100c | SOFR+550 bp |
| S•••••• P•••••• C••••• B•• | term loan lien unstated T••• L••• (P••• SPV) | $301,765 | $298,747 100c | SOFR+550 bp |
| S•••••• C•••••• I••••••••• C••• | revolver lien unstated R••••••• | $214,260 | $212,117 99c | 5.50% |
| S•••••• P•••••• C••••• B•• | term loan lien unstated T••• L••• One | $171,869 | $170,150 100c | SOFR+550 bp |
| S•••••• P•••••• C••••• B•• | revolver lien unstated R••••••• One | $131,820 | $44,238 99c | SOFR+550 bp |
| S•••••• P•••••• C••••• B•• | revolver lien unstated R••••••• | $131,820 | $86,264 99c | SOFR+550 bp |
| S•••••• C•••••• I••••••••• C••• | revolver lien unstated R••••••• One | $109,877 | $108,778 99c | 5.50% |
| S•••••• C•••••• I••••••••• C••• | equity equity C•••• A U•••• | Not disclosed | $250,463 139c | |
| S•••••• P•••••• C••••• B•• | equity equity C•••• A U•••• | Not disclosed | $101,824 139c |
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| term loan lien unstated | at least $5.5M | 100c | SOFR+550 bp | Apr 11, 2030 | 2 |
| delayed draw term loan lien unstated | at least $3.1M | 100c | SOFR+550 bp | Apr 11, 2030 | 2 |
| revolver lien unstated | at least $587,777 | 99c | //stelluscapital.com/20260630#Six Month Term Secured Overnight Financing Rate+550 bp | Apr 11, 2030 | 2 |
Equity pieces beside the debt: equity ($352,287 fair value, 2 BDCs)
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2026 | 2 | $9.2M | $9.0M | 100c | 0 |
| Mar 31, 2026 | 2 | $7.8M | $7.7M | 100c | 0 |
| Dec 31, 2025 | 2 | $8.1M | $8.1M | 101c | 0 |
| Sep 30, 2025 | 2 | $8.1M | $8.1M | 101c | 0 |
All 9 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 2 | $6.3M | $6.3M | 101c | 0 |
| Mar 31, 2025 | 2 | $4.9M | $4.8M | 100c | 0 |
| Dec 31, 2024 | 2 | $8.8M | $8.6M | 100c | 0 |
| Sep 30, 2024 | 2 | $4.1M | $4.0M | 99c | 0 |
| Jun 30, 2024 | 2 | $3.9M | $3.9M | 100c | 0 |
What changed
- New borrower on a BDC scheduleJun 30, 2024
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- WER HOLDINGderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived