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Borrower

R• I••••••• H••••••• L••

Hotels, Restaurants & Leisuregroup grade Aon a schedule nowsponsor unattributed

What matters now

  1. 100¢ → 90¢
    consensus mark

    Consensus mark 90¢ on cost, down from 100¢ a year ago, 95¢ last quarter.

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

    Derived1 of 1 lender' own marks, weighted by principal
Mark path, consensus per quarter end
Q2 2025: 100¢Q3 2025: 100¢Q4 2025: 100¢Q1 2026: 95¢Q2 2026: 90¢100¢ · 100¢ · 100¢ · 95¢ · 90¢Q2 2025 to Q2 2026
Principal held
at least $61.1M
sum of BDC pieces, a lower bound
Fair value
$113M
96c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
Sep 16, 2029
no dated debt inside 24 months
On the tape since
Dec 31, 2023
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
LenderExposureCurrent markQoQ change
T•• D••••• L•••••• V•• L••$61.1M90¢-5 pts
Every BDC piece · 3 positions across 1 lenderlargest principal first, with instrument and rate
BDCInstrumentPrincipalFair valueRate
T•• D••••• L•••••• V•• L••term loan lien unstated
A••••••••• D••• 09/16/24, T••• L••• - 11.23% inc PIK (S••• + 7.50%, 2.00% F••••, all PIK)
$59.5M$53.9M
90c
SOFR+750 bp
T•• D••••• L•••••• V•• L••revolver lien unstated
A••••••••• D••• 01/28/26, S•••• S••••• R••••••• - 6.67% (S••• + 3.00%, 2.50% F••••) % of N
$1.6M$4.8M
297c
SOFR+300 bp
T•• D••••• L•••••• V•• L••term loan lien unstated
T••• L••• - 11.23% inc PIK
Not disclosed$53.9MS+750 bp
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
FacilityHeldOn costPricingMaturityBDCs
term loan lien unstatedat least $59.5M90cSOFR+750 bpSep 16, 20291
revolver lien unstatedat least $1.6M297cSOFR+300 bpSep 16, 20291
Through time
the borrower's pieces summed across BDCs, every quarter end
Quarter endBDCsPrincipal heldFair valueOn costPIK pieces
Jun 30, 20261$61.1M$113M184c0
Mar 31, 20261$59.5M$113M190c0
Dec 31, 20251$56.3M$225M400c0
Sep 30, 20251$54.7M$109M200c0
All 9 quarters
Quarter endBDCsPrincipal heldFair valueOn costPIK pieces
Jun 30, 20251$53.1M$106M200c0
Mar 31, 20251$47.4M$94.8M200c0
Dec 31, 20241$46.0M$230M500c0
Sep 30, 20241$37.4M$74.9M200c0
Dec 31, 20231$0$0n/a0
What changed
Every change including routine ones
Identity
Group key
RL INVESTORderivedthe codename stem after legal suffixes and deal words
Spellings
1 across 1 BDCderived
Industry
Hotels, Restaurants & Leisurereportedas one filer wrote it