N•••• I• H••••••• I• L••

group grade Aon a schedule nowsponsor unattributed

What matters now

100¢ → 107¢
consensus mark
Consensus mark 107¢ on cost, up from 100¢ in Q3 2025, 103¢ last quarter.
Q2 2026 · The lenders' own valuations moved back up.
Derived1 of 1 lender' own marks, weighted by principal

Mark path, consensus per quarter end

100¢ · 103¢ · 107¢Q3 2025 to Q2 2026

Principal held

unknown

sum of BDC pieces, a lower bound

Fair value

$2.7M

n/a on cost, debt pieces

Unfunded

Not disclosed

commitments not yet drawn

BDC lenders

2 on the latest quarter

Facilities

2 equity pieces beside them

Next maturity

unstated

no dated debt inside 24 months

On the tape since

Sep 30, 2025

latest Jun 30, 2026

Events

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
N••••• C•••••••• D••••• L•••••• C••••	no principal filed	107¢	+4 pts

Every BDC piece · 2 positions across 2 lenderslargest principal first, with instrument and rate

BDC	Instrument	Principal	Fair value	Rate
N••••• C•••••••• D••••• L•••••• C••••	unstated lien unstated	Not disclosed	$519,000 107c
N••••• C•••••••• P•••••• C•••••• I••••• F•••	equity equity L•••••• P••••••••• I••••••••	Not disclosed	$2.2M 105c

Capital structure as the BDCs see it

latest quarter end Jun 30, 2026

No debt facility on the tape for this borrower; the BDC pieces are equity.

Equity pieces beside the debt: equity ($2.2M fair value, 1 BDC), other ($519,000 fair value, 1 BDC)

Through time

the borrower's pieces summed across BDCs, every quarter end

Quarter end	BDCs	Principal held	Fair value	On cost
Jun 30, 2026	2	$0	$0	n/a
Mar 31, 2026	2	$0	$0	n/a
Dec 31, 2025	2	$0	$0	n/a
Sep 30, 2025	2	$0	$0	n/a

What changed

Identity

Group key: N•••• IIderivedthe codename stem after legal suffixes and deal words
Spellings: 1 across 2 BDCsderived