Medley LLC SR NT 26 (MDLX) represents the 6.00% senior notes due 2026 issued by Medley LLC, an alternative asset management firm that provided yield-focused investment solutions to retail and institutional investors in the United States. Medley LLC offered investment management services to permanent capital vehicles, long-dated private funds, and separately managed accounts; served as the general partner to its private funds; and focused on credit-related strategies, primarily originating and holding senior secured loans to private middle-market companies with revenues between $50 million and $1 billion. The firm targeted institutional and retail investors seeking credit opportunities, operated nationally across the U.S. middle market through a direct origination platform, and maintained headquarters in New York, New York, since its founding in 2010 as a subsidiary of Medley Management Inc. In March 2021, Medley LLC filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Delaware amid $140.8 million in liabilities against $5.4 million in assets, following missed interest payments on its note series and a decline in fee-earning assets under management to approximately $1.3 billion. The court approved its Chapter 11 plan of reorganization and wind-down in October 2021, establishing a creditor trust to receive revenues from non-bankrupt affiliates amid objections from federal regulators; trading in MDLX was suspended and delisted by the NYSE in July 2021. As of late 2025, the bankruptcy case remains administratively open with post-confirmation quarterly reporting ongoing through September 30, 2025, marking the completion of major litigation and operational wind-down without evidence of resumed primary business activities.