DFX Intelligence
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Borrower
T•••••• T•• H•••••••• I••
Containers and Packaginggroup grade Aon a schedule nowsponsor unattributed
Also written as: Emerald JV LP; Inc. 1; Inc. 1 Emerald JV LP; Inc. 1 Verdelite JV LP; Inc. 2; Inc. 2 Emerald JV LP; Inc. 2 Verdelite JV LP; Inc. Asset Type
Principal held
at least $98.5M
sum of BDC pieces, a lower bound
Fair value
$94.7M
97c on cost, debt pieces
Unfunded
n/a
commitments not yet drawn
BDC lenders
11
7 on the latest quarter
Facilities
4
0 equity pieces beside them
Next maturity
Sep 1, 2028
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
5
dated, non-routine
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| delayed draw term loan lien unstated | at least $49.9M | 97c | S+375 bp | Sep 15, 2028 | 1 |
| first lien term loan first lien | at least $46.6M | 96c | SOFR+375 bp | Sep 18, 2028 | 9 |
| unsecured or subordinated notes unsecured or subordinated | at least $2.0M | 99c | 12.75% | Dec 31, 2028 | 1 |
| other lien unstated exited Dec 31, 2022 | at least $54.7M | 97c | S+400 bp | Sep 15, 2028 | 1 |
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A•••••• P•••••• C••••• F••• | term loan first lien Asset T••• F•••• L••• T••• L••• R•••••••• R••• and S••••• S + 3.75% I••••••• R••• 7.50% M• | $2.5M | $2.4M 96c | SOFR+375 bp |
| A•••••• S•••••••• C••••• F••• | term loan first lien Asset T••• F•••• L••• T••• L••• R•••••••• R••• and S••••• S + 3.75% I••••••• R••• 7.50% M• | $3.6M | $3.5M 96c | SOFR+375 bp |
| A••• S•••••••• I••••• F••• | term loan first lien F•••• lien senior secured loan | $28.6M | $27.4M 96c | S+375 bp |
| B•••••• P•••••• C••••• C••• | term loan first lien F•••• L••• S••••• S•••••• T••• L••• | $991,000 | $949,000 99c | S+375 bp |
| B••••••••• P•••••• C••••• F••• | delayed draw term loan lien unstated N••••••••• I••••• | $7.6M | $7.4M 96c | S+375 bp |
| B••••••••• P•••••• C••••• F••• | delayed draw term loan lien unstated | $37.9M | $36.4M 97c | S+375 bp |
| B••••••••• P•••••• C••••• F••• | delayed draw term loan lien unstated | $4.4M | $4.2M 96c | S+375 bp |
| G•••• E•• C•••••• C•••• | notes unsecured or subordinated I••••••• P•••••••• S••••••• U•••••••• B••• I••••••• R••• 12.75% I•••••• A••••••••• D••• 11 | $2.0M | $2.0M 99c | 12.75% |
| G•••• E•• C•••••• C•••• | term loan first lien I••••••• P•••••••• S••••••• 1st L•••, S•••••• L••• I••••••• R••• 3M S••• + 3.75% (7.48%) I | $995,000 | $952,000 101c | SOFR+375 bp |
| O•••••• S•••••••• C••••• F••• | term loan first lien F•••• L••• T••• L••• | $10.0M | $9.6M 96c | S+375 bp |
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 | 7 | $98.5M | $94.7M | 97c | 0 |
| Mar 31, 2026 | 7 | $100M | $95.1M | 95c | 0 |
| Dec 31, 2025 | 10 | $181M | $174M | 97c | 0 |
| Sep 30, 2025 | 8 | $136M | $134M | 99c | 0 |
| Jun 30, 2025 | 7 | $105M | $103M | 98c | 0 |
| Mar 31, 2025 | 6 | $95.7M | $92.5M | 96c | 0 |
| Dec 31, 2024 | 4 | $164M | $165M | 101c | 0 |
| Sep 30, 2024 | 3 | $81.0M | $81.2M | 100c | 0 |
| Jun 30, 2024 | 3 | $84.3M | $84.4M | 100c | 0 |
| Mar 31, 2024 | 3 | $67.8M | $68.0M | 101c | 0 |
| Dec 31, 2023 | 3 | $69.3M | $69.3M | 101c | 0 |
| Sep 30, 2023 | 3 | $43.2M | $43.1M | 101c | 0 |
| Jun 30, 2023 | 2 | $36.3M | $35.8M | 100c | 0 |
| Mar 31, 2023 | 2 | $19.8M | $19.3M | 98c | 0 |
| Dec 31, 2022 | 2 | $55.9M | $53.9M | 97c | 0 |
| Sep 30, 2022 | 1 | $42.8M | $40.9M | 96c | 0 |
| Dec 31, 2021 | 1 | $21.3M | $21.3M | 100c | 0 |
What changed
- New lender joined a facilityMar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Lender left a facilityDec 31, 2025
- Lender left a facilityDec 31, 2025
- Lender left a facilityDec 31, 2025
- New lender joined a facilitySep 30, 2025
- New lender joined a facilityJun 30, 2025
- New lender joined a facilityMar 31, 2025
- New lender joined a facilityMar 31, 2025
- New lender joined a facilityDec 31, 2024
- Spread changed (observed)Jun 30, 2024
- Spread changed (observed)Mar 31, 2024
- Spread increasedDec 31, 2023
- Spread increasedDec 31, 2023
- Spread increasedDec 31, 2023
- New lender joined a facilitySep 30, 2023
- Spread increasedSep 30, 2023
- Spread changed (observed)Jun 30, 2023
- Maturity extended (observed)Jun 30, 2023
- Spread increasedJun 30, 2023
- Maturity extended (observed)Jun 30, 2023
- Facility left every BDC scheduleDec 31, 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
- TRIDENT TPIderivedthe codename stem after legal suffixes and deal words
- Spellings
- 2 across 11 BDCsderived
- Industry
- Containers and Packagingreportedas one filer wrote it