DFX Intelligence
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Borrower
B•••••• P•••••• L••
Application Softwaregroup grade Aon a schedule nowsponsor unattributed
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
101¢ · 101¢ · 101¢ · 101¢ · 101¢Q2 2025 to Q2 2026
Where each lender marks it, 0 points apart
101¢101¢
Principal held
at least $188M
sum of BDC pieces, a lower bound
Fair value
$188M
101c on cost, debt pieces
Unfunded
$20.1M
commitments not yet drawn
BDC lenders
7
6 on the latest quarter
Facilities
2
1 equity pieces beside them
Next maturity
Feb 1, 2031
no dated debt inside 24 months
On the tape since
Sep 30, 2023
latest Jun 30, 2026
Events
1
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 |
|---|---|---|---|
| O•••••• S•••••••• C••••• F••• | $92.8M | 101¢ | 0 pts |
| G•••• C•••••• P•••••• C••••• F••• | $41.9M | 101¢ | 0 pts |
| G•••• C•••••• B••• I••• | $26.3M | 101¢ | 0 pts |
| G•••• C•••••• B•• 4• I••• | $17.4M | 101¢ | 0 pts |
| G•••• C•••••• D••••• L•••••• C••• | $6M | 101¢ | 0 pts |
View all 6 lendersShow fewerlargest exposure first
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| G•••• C•••••• D••••• L•••••• U•••••••• C••• | $3.41M | 101¢ | 0 pts |
Every BDC piece · 20 positions across 6 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| O•••••• S•••••••• C••••• F••• | term loan first lien F•••• L••• T••• L••• 2 | $60.4M | $60.4M 101c | S+475 bp |
| G•••• C•••••• P•••••• C••••• F••• | term loan first lien One stop 1 | $41.9M | $41.9M 101c | S+475 bp |
| O•••••• S•••••••• C••••• F••• | term loan first lien F•••• L••• T••• L••• 1 | $32.5M | $32.5M 101c | S+475 bp |
| G•••• C•••••• B••• I••• | term loan first lien One stop 1 | N••••••••• I••••• | $26.3M | $26.3M 101c | S+475 bp |
| G•••• C•••••• B•• 4• I••• | term loan first lien One stop 1 | $17.4M | $17.4M 101c | S+475 bp |
View all 20 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| G•••• C•••••• D••••• L•••••• C••• | term loan first lien One stop 2 | $6.0M | $6.0M 101c | S+475 bp |
| G•••• C•••••• D••••• L•••••• U•••••••• C••• | term loan first lien One stop 1 | $3.4M | $3.4M 101c | S+475 bp |
| G•••• C•••••• B•• 4• I••• | term loan first lien One stop 2 | $0 | $0 0c | S+475 bp |
| G•••• C•••••• B•• 4• I••• | term loan first lien One stop 3 | $0 | $0 | S+475 bp |
| G•••• C•••••• B••• I••• | term loan first lien One stop 2 | N••••••••• I••••• | $0 | $0 0c | S+475 bp |
| G•••• C•••••• B••• I••• | term loan first lien One stop 3 | N••••••••• I••••• | $0 | $0 0c | S+475 bp |
| G•••• C•••••• D••••• L•••••• C••• | term loan first lien One stop 3 | $0 | $0 0c | S+475 bp |
| G•••• C•••••• D••••• L•••••• C••• | term loan first lien One stop 1 | $0 | $0 | S+475 bp |
| G•••• C•••••• D••••• L•••••• U•••••••• C••• | term loan first lien One stop 3 | $0 | $0 | S+475 bp |
| G•••• C•••••• D••••• L•••••• U•••••••• C••• | term loan first lien One stop 2 | $0 | $0 0c | S+475 bp |
| G•••• C•••••• P•••••• C••••• F••• | term loan first lien One stop 2 | $0 | $0 0c | S+475 bp |
| G•••• C•••••• P•••••• C••••• F••• | term loan first lien One stop 3 | $0 | $0 0c | S+475 bp |
| O•••••• S•••••••• C••••• F••• | revolver first lien F•••• L••• R••••••• | $0 | $0 0c | S+475 bp |
| O•••••• S•••••••• C••••• F••• | term loan first lien F•••• L••• T••• L••• 3 | $0 | $0 0c | S+475 bp |
| O•••••• S•••••••• C••••• F••• | unstated lien unstated | Not disclosed | Not disclosed |
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 $188M | 101c | S+475 bp | Feb 27, 2031 | 7 |
| first lien revolver first lien | at least $0 | n/a | S+475 bp | Feb 27, 2031 | 1 |
Equity pieces beside the debt: other (Not disclosed 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 | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2026 | 6 | $188M | $188M | 101c | 0 |
| Mar 31, 2026 | 6 | $188M | $188M | 101c | 0 |
| Dec 31, 2025 | 6 | $182M | $182M | 101c | 0 |
| Sep 30, 2025 | 6 | $249M | $249M | 101c | 0 |
All 11 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 6 | $165M | $165M | 101c | 0 |
| Mar 31, 2025 | 6 | $166M | $166M | 101c | 0 |
| Dec 31, 2024 | 6 | $166M | $164M | 100c | 0 |
| Sep 30, 2024 | 6 | $96.3M | $95.9M | 101c | 0 |
| Jun 30, 2024 | 6 | $96.5M | $95.6M | 100c | 0 |
| Mar 31, 2024 | 7 | $96.5M | $95.1M | 100c | 0 |
| Sep 30, 2023 | 1 | $0 | $0 | n/a | 0 |
What changed
- New borrower on a BDC scheduleSep 30, 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
- BISCUITderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 7 BDCsderived
- Industry
- Application Softwarereportedas one filer wrote it