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As of 10 Oct 2026 · demonstration dates
Portfolio reports show the current active book. Closed and archived borrowers, including their history, are available in All Borrowers.
Havenmark Logistics Group
Valuation support — Q3 2026
Marks received: 2/2 credit positions; 0/0 equity positions. Totals include known marks only. LTM analysis requires four consecutive financial quarters.
$9.7M
Credit FV · Q3 2026
—
No prior mark
0.61x
Credit FV / LTM EBITDA
$15.9M
LTM EBITDA (unadjusted)
Breach
Binding Covenant
Mark against Credit
Credit fair value ($M)$9.7M latest
13.812.510.88.49.7
Interest Coverage cushion (%)
———-9.8-20.1
Minimum LTM EBITDA ($M) cushion (%)
———-20.0-38.8
Total Leverage cushion (%)
———-4.0-35.8
Q3 2025Q4 2025Q1 2026Q2 2026Q3 2026
Method and Assumptions
| Quarter | Credit FV | Method | Note |
|---|---|---|---|
| Q3 2025 | $13.8M | Not documented | — |
| Q4 2025 | $12.5M | Not documented | — |
| Q1 2026 | $10.8M | Not documented | — |
| Q2 2026 | $8.4M | Income / DCF | Restructuring scenario weighting 60/40; discount rate 16% |
| Q3 2026 | $9.7M | Income / DCF | Reviewed source: Holdings and Marks!G2; 7.5 |
Valuation Events
| Quarter | Event | Note | Recorded by |
|---|---|---|---|
| Q4 2025 | PIK flip | Cash interest converted to PIK per Amendment 2; leverage now compounds | portfolio.analyst@nsns-fund.example |
| Q2 2026 | Restructuring opened | Advisors engaged; standstill through Q3 | portfolio.analyst@nsns-fund.example |