DFX Intelligence
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Borrower
I••••• I•••• M••••••••• L••••••
Softwaregroup grade Aon a schedule nowsponsor unattributed
Principal held
at least $23.2M
sum of BDC pieces, a lower bound
Fair value
$22.4M
96c on cost, debt pieces
Unfunded
n/a
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
3
1 equity pieces beside them
Next maturity
Dec 7, 2029
no dated debt inside 24 months
On the tape since
Dec 31, 2023
latest Jun 30, 2026
Events
1
dated, non-routine
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien | at least $17.9M | 96c | SOFR+600 bp | Dec 8, 2029 | 2 |
| first lien delayed draw term loan first lien | at least $4.1M | 95c | SOFR+600 bp | Dec 7, 2029 | 1 |
| first lien revolver first lien | at least $1.3M | 101c | SOFR+600 bp | Dec 7, 2029 | 1 |
Equity pieces beside the debt: other ($10.3M fair value, 1 BDC)
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A••••• D••• S•••••••• B•• | term loan first lien First Lien Secured D••• - Term Loan S+600, 1.00% Floor Maturity Date 12/07/2029 | $9.0M | $8.6M 96c | SOFR+600 bp |
| A••••• D••• S•••••••• B•• | revolver first lien First Lien Secured D••• - Revolver S+600, 1.00% Floor Maturity Date 12/07/2029 | $1.3M | $1.6M 101c | SOFR+600 bp |
| A••••• D••• S•••••••• B•• | delayed draw term loan first lien First Lien Secured D••• - Delayed Draw S+600, 1.00% Floor Maturity Date 12/07/2029 | $4.1M | $3.9M 95c | SOFR+600 bp |
| M••••• F•••••••• I••••••••• C••• | term loan first lien First Lien Secured D••• - Term Loan SOFR+600, 1.00% Floor Maturity Date 12/08/29 | $8.8M | $8.4M 96c | SOFR+600 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 | 2 | $23.2M | $22.4M | 96c | 0 |
| Mar 31, 2026 | 2 | $23.3M | $22.5M | 97c | 0 |
| Dec 31, 2025 | 2 | $23.8M | $23.2M | 100c | 0 |
| Sep 30, 2025 | 2 | $22.4M | $23.2M | 100c | 0 |
| Jun 30, 2025 | 1 | $10.6M | $10.6M | 98c | 0 |
| Mar 31, 2025 | 1 | $10.6M | $10.3M | 96c | 0 |
| Dec 31, 2024 | 1 | $10.7M | $10.5M | 98c | 0 |
| Sep 30, 2024 | 1 | $10.5M | $10.4M | 99c | 0 |
| Jun 30, 2024 | 1 | $10.5M | $10.3M | 98c | 0 |
| Mar 31, 2024 | 1 | $13.8M | $10.5M | 99c | 0 |
| Dec 31, 2023 | 1 | $13.8M | $8.9M | 100c | 0 |
What changed
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Dec 31, 2025
- New lender joined a facilitySep 30, 2025
- Marked down (one lender)Dec 31, 2024
- New borrower on a BDC scheduleDec 31, 2023
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- INSTEM ICHORderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived
- Industry
- Softwarereportedas one filer wrote it