DFX Intelligence
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Borrower
D••••• L•• F•••• a••
group grade Aoff every schedule since Dec 31, 2025sponsor unattributed
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
100¢ · 100¢ · 100¢ · 101¢Q1 2025 to Q4 2025
Principal held
at least $66.5M
sum of BDC pieces, a lower bound
Fair value
$65.9M
101c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
1
0 equity pieces beside them
Next maturity
Jan 31, 2031
no dated debt inside 24 months
On the tape since
Mar 31, 2025
latest Dec 31, 2025
Events
2
dated, non-routine
Lender marks
each lender's own fair value over cost at Dec 31, 2025, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| K•••••• L•••• C•••••• C• | $66.5M | 101¢ | +1 pts |
Every BDC piece · 1 position across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| K•••••• L•••• C•••••• C• | term loan second lien S••••• L••• D••• O••••••• P••••••• D••• 2/20/2025 S+5.50% I••••••• R••• 9.22% Due 1/31/203 | $66.5M | $65.9M 101c | SOFR+550 bp |
Capital structure as the BDCs see it
latest quarter end Dec 31, 2025
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| second lien term loan second lien exited Dec 31, 2025 | at least $66.5M | 101c | SOFR+550 bp | Jan 31, 2031 | 1 |
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Dec 31, 2025 | 1 | $66.5M | $65.9M | 101c | 0 |
| Sep 30, 2025 | 1 | $67.7M | $66.3M | 100c | 0 |
| Jun 30, 2025 | 1 | $70.2M | $68.8M | 100c | 0 |
| Mar 31, 2025 | 1 | $70.5M | $69.1M | 100c | 0 |
What changed
- Facility left every BDC scheduleDec 31, 2025
- New borrower on a BDC scheduleMar 31, 2025
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- DRUBIT FIRST ANDderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived