Galaxy Cosmos Mezz and Phoenix Vega Mezz report interim financial results

Galaxy Cosmos Mezz Plc and Phoenix Vega Mezz PLC have released their interim financial statements for the period of January 1, 2026, to June 30, 2026.

Galaxy Cosmos Mezz Plc reported coupon income of €2.31 million. The company primarily manages mezzanine and junior bonds from the Cosmos, Galaxy II, Galaxy IV, and Orion portfolios. As of June 30, 2026, the fair value of these bonds was estimated at €4.4 million by an independent appraiser using a discounted cash flow method with a 14.33% cost of equity.

Phoenix Vega Mezz PLC reported significant losses, with the accounting value of its bond holdings decreasing to €23.1 million from €64.8 million at the end of 2025. This €41.7 million reduction is attributed to updated business plans for the underlying Phoenix and Vega portfolios, which resulted in lower projected short- and medium-term cash flows. Additionally, interest payments on these bonds have been deferred due to collection indices falling below contractual thresholds.