DFX Intelligence
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Borrower
S••••• A••••••••• I••
Aerospace & Defensegroup grade Aoff every schedule since Sep 30, 2025sponsor unattributed
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
99¢ · 100¢ · 100¢ · 100¢Q4 2021 to Q3 2025
Where each lender marks it on the first lien term loan, 0 points apart
100¢100¢
Principal held
at least $125M
sum of BDC pieces, a lower bound
Fair value
$125M
100c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
3
2 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
Dec 31, 2025
$47.8M inside 24 months
On the tape since
Dec 31, 2021
latest Sep 30, 2025
Events
5
dated, non-routine
Lender marks
each lender's own fair value over cost at Sep 30, 2025, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| A••• S•••••••• I••••• F••• | $77.1M | 100¢ | 0 pts |
| A••••• D••• S•••••••• B•• | $47.8M | 100¢ | 0 pts |
Every BDC piece · 2 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A••• S•••••••• I••••• F••• | term loan first lien F•••• lien senior secured loan | $77.1M | $77.1M 100c | 9.28% |
| A••••• D••• S•••••••• B•• | term loan first lien Investment T••• F•••• L••• S•••••• D••• - T••• L••• I••••••• R••• S+050, 0.00% F•••• M•••• | $47.8M | $47.8M 100c | SOFR+50 bp |
Capital structure as the BDCs see it
latest quarter end Sep 30, 2025
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Sep 30, 2025 | at least $125M | 100c | SOFR+50 bp | Dec 31, 2025 | 2 |
| other lien unstated exited Dec 31, 2021 | at least $2.6M | 99c | S+375 bp | Jan 15, 2025 | 1 |
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Sep 30, 2025 | 2 | $125M | $125M | 100c | 0 |
| Jun 30, 2025 | 2 | $125M | $125M | 100c | 0 |
| Mar 31, 2025 | 2 | $125M | $125M | 100c | 0 |
| Dec 31, 2021 | 1 | $2.6M | $2.6M | 99c | 0 |
What changed
- Maturity extended (observed)Sep 30, 2025
- Facility left every BDC scheduleSep 30, 2025
- Maturity extended (observed)Sep 30, 2025
- Maturity extended (observed)Jun 30, 2025
- Maturity extended (observed)Jun 30, 2025
Full timeline · 8 eventsShow fewer
- Maturity extended (observed)Jun 30, 2025
- New borrower on a BDC scheduleDec 31, 2021
- Facility left every 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
- S••••• A•••••••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 3 BDCsderived
- Industry
- Aerospace & Defensereportedas one filer wrote it