DFX Intelligence
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Borrower
S••••• B•••• L••••••
Services: Consumergroup grade Bon a schedule nowsponsor unattributed
What matters now
- 1 of 1 lenderon non-accrual
Non-accrual at 1 of 1 lender on the latest schedules, first placed in Q4 2022.
since Q4 2022 · Interest has stopped accruing; the lenders no longer expect to be paid in full.
FactBDC schedules of investments, 31 Mar 2026For restructuring advisers, special situations funds, the lenders' LPsSee every lender → - $69Kprincipal outstanding
$69K principal held by 1 lender; matures Dec 2028.
Q1 2026 · Refinancing is due in 27 months.
FactBDC schedules of investments, 31 Mar 2026; a sum of the BDCs' pieces, a lower bound
Mark path, consensus per quarter end
69¢ · 49¢ · 45¢ · 29¢Q1 2025 to Q4 2025
Principal held
at least $69,000
sum of BDC pieces, a lower bound
Fair value
$0
n/a 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
Dec 31, 2028
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Mar 31, 2026
Events
9
dated, non-routine
Lender marks
each lender's own fair value over cost at Mar 31, 2026, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| B••• C•••••• S•••••••• F••••••• I••• | $69K | no cost filed | new this quarter |
Every BDC piece · 1 position across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••• C•••••• S•••••••• F••••••• I••• | term loan first lien F•••• L••• S••••• S•••••• L••• S•••• S••••• 6.28%PIK I••••••• R••• 10.00% M••••••• D••• 12 | $69,000 | $0 0c | //www.baincapital.com/20260331#Sterling Overnight Index Average+628 bp PIK 6.28% |
Capital structure as the BDCs see it
latest quarter end Mar 31, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Mar 31, 2026 | at least $69,000 | n/a | //www.baincapital.com/20260331#Sterling Overnight Index Average+628 bp PIK 6.28% | Dec 31, 2028 | 1 |
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Mar 31, 2026 | 1 | $69,000 | $0 | 0c | 1 |
| Dec 31, 2025 | 1 | $69,000 | $22,000 | 29c | 1 |
| Sep 30, 2025 | 1 | $69,000 | $34,000 | 45c | 1 |
| Jun 30, 2025 | 1 | $68,000 | $38,000 | 49c | 1 |
All 15 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Mar 31, 2025 | 1 | $68,000 | $53,000 | 69c | 1 |
| Dec 31, 2024 | 1 | $68,000 | $51,000 | 66c | 1 |
| Jun 30, 2024 | 1 | $64,000 | $63,000 | 86c | 0 |
| Mar 31, 2024 | 1 | $64,000 | $65,000 | 89c | 0 |
| Dec 31, 2023 | 1 | $61,000 | $62,000 | 91c | 1 |
| Sep 30, 2023 | 1 | $57,000 | $52,000 | 79c | 1 |
| Jun 30, 2023 | 1 | $57,000 | $51,000 | 5100c | 1 |
| Mar 31, 2023 | 1 | $57,000 | $49,000 | n/a | 1 |
| Dec 31, 2022 | 1 | $108,000 | $92,000 | 69c | 1 |
| Sep 30, 2022 | 1 | $54,000 | $52,000 | 78c | 0 |
| Dec 31, 2021 | 1 | $50,000 | $60,000 | 97c | 0 |
What changed
- Facility left every BDC scheduleMar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Dec 31, 2025
- Maturity extended (observed)Sep 30, 2025
- Maturity extended (observed)Sep 30, 2025
Full timeline · 19 eventsShow fewer
- Marked down (one lender)Jun 30, 2025
- PIK interest increasedMar 31, 2025
- PIK interest increasedMar 31, 2025
- Spread changed (observed)Jun 30, 2024
- returned to accrualDec 31, 2023
- PIK interest increasedSep 30, 2023
- Marked down (one lender)Sep 30, 2023
- PIK interest increasedSep 30, 2023
- non accrual placedDec 31, 2022
- PIK interest appearsDec 31, 2022
- Marked down (one lender)Dec 31, 2022
- PIK interest appearsDec 31, 2022
- Spread changed (observed)Sep 30, 2022
- Marked down (one lender)Sep 30, 2022
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- SURREY #UKderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived
- Industry
- Services: Consumerreportedas one filer wrote it