DFX Intelligence
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Borrower
F••••• M••••• I••
group grade Aon a schedule nowsponsor unattributed
Also written as: Equity Securities; Junior
What matters now
- 1 of 1 lenderon non-accrual
Non-accrual at 1 of 1 lender on the latest schedules, first placed in Q4 2023.
since Q4 2023 · Interest has stopped accruing; the lenders no longer expect to be paid in full.
FactBDC schedules of investments, 30 Jun 2026For restructuring advisers, special situations funds, the lenders' LPsSee every lender → - 73¢ → 101¢consensus mark
Consensus mark 101¢ on cost, up from 73¢ a year ago, 82¢ last quarter.
Q2 2026 · The lenders' own valuations moved back up.
Derived1 of 1 lender' own marks, weighted by principal - $1.31Mprincipal outstanding
$1.31M principal held by 1 lender; matures Jun 2028.
Q2 2026 · Refinancing is due in 21 months at a 101¢ mark.
FactBDC schedules of investments, 30 Jun 2026; a sum of the BDCs' pieces, a lower bound
Mark path, consensus per quarter end
73¢ · 74¢ · 78¢ · 82¢ · 101¢Q1 2025 to Q2 2026
Principal held
at least $1.3M
sum of BDC pieces, a lower bound
Fair value
$1.1M
101c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
2
1 on the latest quarter
Facilities
3
1 equity pieces beside them
Next maturity
Jun 20, 2028
$1.3M inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
16
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 |
|---|---|---|---|
| M••••• C•••••• I••••• P••• C••• | $1.31M | 101¢ | new this quarter |
Every BDC piece · 1 position across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| M••••• C•••••• I••••• P••• C••• | term loan unsecured or subordinated J••••• S•••••• L•••• | $1.3M | $1.1M 101c | PIK 5.00% |
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| unsecured or subordinated term loan unsecured or subordinated | at least $1.3M | 101c | PIK 5.00% | Jun 20, 2028 | 2 |
| term loan lien unstated exited Sep 30, 2025 | at least $1.3M | 78c | PIK 5.00% | unstated | 1 |
| first lien term loan first lien exited Dec 31, 2025 | at least $1.3M | 82c | PIK 5.00% | unstated | 1 |
Equity pieces beside the debt: warrants (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 | 1 | $1.3M | $1.1M | 101c | 1 |
| Dec 31, 2025 | 1 | $1.3M | $1.1M | 82c | 1 |
| Sep 30, 2025 | 1 | $1.3M | $1.0M | 78c | 1 |
| Jun 30, 2025 | 1 | $1.3M | $971,000 | 74c | 1 |
All 16 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Mar 31, 2025 | 1 | $1.3M | $953,000 | 73c | 1 |
| Dec 31, 2024 | 1 | $3.9M | $2.8M | 70c | 3 |
| Sep 30, 2024 | 1 | $1.3M | $897,000 | 69c | 1 |
| Jun 30, 2024 | 1 | $1.3M | $839,000 | 64c | 1 |
| Mar 31, 2024 | 1 | $1.3M | $840,000 | 64c | 1 |
| Dec 31, 2023 | 1 | $1.3M | $955,000 | 73c | 1 |
| Sep 30, 2023 | 1 | $1.3M | $965,000 | 74c | 1 |
| Jun 30, 2023 | 1 | $1.3M | $966,000 | 74c | 1 |
| Mar 31, 2023 | 1 | $8.2M | $6.4M | 79c | 2 |
| Dec 31, 2022 | 1 | $16.4M | $15.9M | 97c | 4 |
| Sep 30, 2022 | 1 | $8.3M | $8.2M | 98c | 2 |
| Dec 31, 2021 | 1 | $9.2M | $9.1M | 99c | 3 |
What changed
- Maturity approachingJun 20, 2028
- Mark recoveredJun 30, 2026
- Mark recoveredDec 31, 2025
- Facility left every BDC scheduleDec 31, 2025
- Facility left every BDC scheduleSep 30, 2025
Full timeline · 22 eventsShow fewer
- Lender left a facilityDec 31, 2024
- PIK interest increasedJun 30, 2024
- non accrual placedJun 30, 2024
- PIK interest increasedJun 30, 2024
- Marked down across lendersMar 31, 2024
- Marked down (one lender)Mar 31, 2024
- returned to accrualMar 31, 2024
- non accrual placedDec 31, 2023
- Spread changed (observed)Jun 30, 2023
- Maturity extended (observed)Jun 30, 2023
- PIK interest increasedJun 30, 2023
- PIK interest increasedJun 30, 2023
- Maturity extended (observed)Jun 30, 2023
- Marked down across lendersMar 31, 2023
- Marked down (one lender)Mar 31, 2023
- Maturity extended (observed)Sep 30, 2022
- New borrower on a BDC scheduleDec 31, 2021
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- F••••• M••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived