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M••••••• B••••• H•••••••• L••
What matters now
- 13 pts87¢ to 100¢
Lenders disagree by 13 points: A••• C•••••• C••• 87¢ to T• R••• P•••• O•• S••••• P•••••• C••••• F••• 100¢.
Q2 2026 · Holders value the same loan differently, so a position could trade between them.
Derivedeach lender's own fair value over costFor secondary buyers, special situations fundsLender marks → - $193Mprincipal outstanding
$193M principal held by 11 lenders; matures Dec 2027.
Q2 2026 · Refinancing is due in 14 months at a 96¢ mark.
FactBDC schedules of investments, 30 Jun 2026; a sum of the BDCs' pieces, a lower bound
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| B••• O•• C••••• I••••• C•••• | $52.1M | 98¢ | +1 pts |
| A••• C•••••• C••• | $38.4M | 87¢ | +1 pts |
| G•••• C•••••• B••• I••• | $33.4M | 99¢ | 0 pts |
| S•••• P•••• C••••• C••• | $18.6M | 99¢ | +1 pts |
| B••• O•• T••••••••• I••••• C•••• | $17.9M | 98¢ | +1 pts |
View all 11 lendersShow fewerlargest exposure first
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| B••• O•• C•••••• C••• | $11.8M | 99¢ | +1 pts |
| N•• M••••••• P•••••• C••••• F••• | $8.12M | 100¢ | +1 pts |
| B••• O•• T••••••••• F•••••• C•••• | $8.1M | 98¢ | +1 pts |
| T• R••• P•••• O•• S••••• P•••••• C••••• F••• | $1.86M | 100¢ | 0 pts |
| G•••• C•••••• D••••• L•••••• C••• | $1.49M | 99¢ | 0 pts |
| B••• O•• C•••••• C••• I• | $744K | 98¢ | +1 pts |
Every BDC piece · 32 positions across 11 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••• O•• C••••• I••••• C•••• | term loan first lien F•••• lien senior secured loan | N••••••••• I••••• | $52.1M | $50.8M 98c | S+550 bp |
| A••• C•••••• C••• | term loan first lien F•••• lien senior secured loan | $31.4M | $30.1M 96c | S+550 bp |
| G•••• C•••••• B••• I••• | term loan first lien One stop 1 | N••••••••• I••••• | $30.5M | $30.1M 99c | S+550 bp |
| B••• O•• T••••••••• I••••• C•••• | term loan first lien F•••• lien senior secured loan | $17.9M | $17.4M 98c | S+550 bp |
| S•••• P•••• C••••• C••• | term loan first lien F•••• L••• T••• L•••, Due 12/28/2028 | $16.9M | $16.6M 99c | SOFR+550 bp |
View all 32 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••• O•• C•••••• C••• | term loan first lien F•••• lien senior secured loan | N••••••••• | $11.8M | $11.5M 99c | S+550 bp |
| B••• O•• T••••••••• F•••••• C•••• | term loan first lien F•••• lien senior secured loan | N••••••••• I••••• | $8.1M | $7.9M 98c | S+550 bp |
| A••• C•••••• C••• | term loan first lien F•••• lien senior secured loan 1 | $7.0M | $6.8M 97c | S+550 bp |
| N•• M••••••• P•••••• C••••• F••• | term loan first lien F•••• L••• 1 | N••••••••• I••••• | $6.8M | $6.7M 100c | S+550 bp |
| G•••• C•••••• B••• I••• | term loan first lien One stop 2 | N••••••••• I••••• | $2.9M | $2.8M 98c | S+550 bp |
| S•••• P•••• C••••• C••• | delayed draw term loan first lien F•••• L••• D•••••• D••• T••• L•••, Due 12/28/2028 | $1.7M | $1.7M 98c | SOFR+550 bp |
| T• R••• P•••• O•• S••••• P•••••• C••••• F••• | term loan first lien F•••• L••• D••• | $1.5M | $1.5M 100c | S+550 bp |
| G•••• C•••••• D••••• L•••••• C••• | term loan first lien One stop 1 | $1.2M | $1.1M 99c | S+550 bp |
| B••• O•• C•••••• C••• I• | term loan first lien F•••• lien senior secured loan | Non A••••••••• | $744,000 | $726,000 98c | S+550 bp |
| N•• M••••••• P•••••• C••••• F••• | term loan first lien F•••• L••• 2 | N••••••••• I••••• | $684,000 | $682,000 100c | S+550 bp |
| N•• M••••••• P•••••• C••••• F••• | term loan first lien F•••• L••• U•••••• | N••••••••• I••••• | $677,000 | $-2,000 200c | S+550 bp |
| G•••• C•••••• D••••• L•••••• C••• | term loan first lien One stop 2 | $332,000 | $327,000 99c | S+550 bp |
| T• R••• P•••• O•• S••••• P•••••• C••••• F••• | term loan first lien F•••• L••• D••• | $156,000 | $154,000 100c | S+550 bp |
| T• R••• P•••• O•• S••••• P•••••• C••••• F••• | term loan first lien F•••• L••• D••• | $155,000 | $-2,000 100c | S+550 bp |
| G•••• C•••••• B••• I••• | term loan first lien One stop 3 | N••••••••• I••••• | $0 | $-6,000 600c | S+550 bp |
| G•••• C•••••• D••••• L•••••• C••• | term loan first lien One stop 3 | $0 | $-2,000 | S+550 bp |
| S•••• P•••• C••••• C••• | revolver first lien F•••• L••• R•••••••• L•••, Due 12/30/2027 | $0 | $-32,000 800c | //www.stonepoint.com/20260630#Alternate Base Rate+550 bp |
| A••• C•••••• C••• | unstated lien unstated | Not disclosed | $5.0M 52c | |
| A••• C•••••• C••• | unstated lien unstated | Not disclosed | Not disclosed | |
| B••• O•• C•••••• C••• | revolver first lien F•••• lien senior secured revolving loan | Not disclosed | $-27,000 | S+550 bp |
| B••• O•• C•••••• C••• I• | revolver first lien F•••• lien senior secured revolving loan | N••••••••• | Not disclosed | Not disclosed | S+550 bp |
| B••• O•• C••••• I••••• C•••• | revolver first lien F•••• lien senior secured revolving loan | N•••••••••/non-affiliated | Not disclosed | Not disclosed | S+550 bp |
| B••• O•• T••••••••• F•••••• C•••• | revolver first lien F•••• lien senior secured revolving loan | N••••••••• I••••• | Not disclosed | $-18,000 | S+550 bp |
| B••• O•• T••••••••• I••••• C•••• | revolver first lien F•••• lien senior secured revolving loan | Not disclosed | $-41,000 | S+550 bp |
| G•••• C•••••• B••• I••• | equity equity LP interest | N••••••••• I••••• | Not disclosed | $578,000 75c | |
| G•••• C•••••• D••••• L•••••• C••• | equity equity LP interest | Not disclosed | $33,000 70c | |
| T• R••• P•••• O•• S••••• P•••••• C••••• F••• | revolver lien unstated R••••••• | Not disclosed | Not disclosed |
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien | at least $191M | 98c | SOFR+550 bp | Dec 29, 2028 | 14 |
| first lien delayed draw term loan first lien | at least $1.7M | 98c | SOFR+550 bp | Dec 28, 2028 | 7 |
| first lien revolver first lien | at least $0 | n/a | //www.stonepoint.com/20260630#Alternate Base Rate+550 bp | Dec 30, 2027 | 8 |
| other lien unstated | unknown | 52c | unstated | 3 | |
| revolver lien unstated | unknown | n/a | unstated | 1 |
All 6 facilitiesShow fewerheld first, largest first
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| second lien term loan second lien exited Dec 31, 2021 | at least $187M | 100c | S+925 bp | Jun 1, 2023 | 1 |
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2026 | 11 | $193M | $187M | 98c | 0 |
| Mar 31, 2026 | 11 | $195M | $188M | 97c | 0 |
| Dec 31, 2025 | 11 | $206M | $202M | 99c | 0 |
| Sep 30, 2025 | 11 | $230M | $226M | 99c | 0 |
All 15 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 11 | $197M | $193M | 99c | 0 |
| Mar 31, 2025 | 11 | $196M | $192M | 99c | 0 |
| Dec 31, 2024 | 11 | $270M | $265M | 100c | 0 |
| Sep 30, 2024 | 12 | $197M | $193M | 99c | 0 |
| Jun 30, 2024 | 12 | $197M | $193M | 99c | 0 |
| Mar 31, 2024 | 13 | $199M | $193M | 98c | 0 |
| Dec 31, 2023 | 14 | $230M | $222M | 98c | 0 |
| Sep 30, 2023 | 12 | $197M | $188M | 98c | 0 |
| Jun 30, 2023 | 13 | $195M | $184M | 97c | 0 |
| Mar 31, 2023 | 12 | $192M | $182M | 97c | 0 |
| Dec 31, 2022 | 7 | $109M | $105M | 98c | 0 |
- Spread increasedJun 30, 2026
- Spread changed (observed)Jun 30, 2026
- Lender left a facilityMar 31, 2026
- Marked down across lendersMar 31, 2026
- Lender left a facilityMar 31, 2026
Full timeline · 30 eventsShow fewer
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- New lender joined a facilityDec 31, 2025
- Spread changed (observed)Jun 30, 2025
- Lender left a facilityJun 30, 2024
- Marked down (one lender)Mar 31, 2024
- Marked down (one lender)Mar 31, 2024
- Marked down (one lender)Mar 31, 2024
- Marked down (one lender)Mar 31, 2024
- Marked down (one lender)Mar 31, 2024
- Marked down (one lender)Mar 31, 2024
- Marked down (one lender)Mar 31, 2024
- Lender left a facilityDec 31, 2023
- Maturity extended (observed)Dec 31, 2023
- Lender left a facilityDec 31, 2023
- Lender left a facilityDec 31, 2023
- Maturity extended (observed)Dec 31, 2023
- Maturity extended (observed)Sep 30, 2023
- Lender left a facilitySep 30, 2023
- Maturity extended (observed)Sep 30, 2023
Possible relationship, not established: R•••••••• C•••••• P•••••••, because a company of this name is on the sponsor's portfolio page (confidence 0.7). No deal announcement or filing names it as a party, so it is not shown as this borrower’s sponsor.
- F•••• I••••••••• A••••••• L•
- the sponsor's own portfolio page lists a company of this nameestimatedfarolam.com"••• Locked"
- R•••••••• C•••••• P•••••••
- the sponsor's own portfolio page lists a company of this nameestimatedgreatersumventures.com"••• Locked"
- G•••••• C••••••
- the sponsor's own portfolio page lists a company of this nameestimatedgencap.com"••• Locked"
- Group key
- MINISTRY BRANDSderivedthe codename stem after legal suffixes and deal words
- Spellings
- 3 across 17 BDCsderived
- Industry
- High Techreportedas one filer wrote it