DFX Intelligence
Private Credit Intelligence
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Borrower
I••••••••• B••••• I••
Also written as: Equity Securities; Inc. (169; Inc. (419; Inc. (81
Principal held
at least $19.8M
sum of BDC pieces, a lower bound
Fair value
$11.9M
72c on cost, debt pieces
Unfunded
$1.4M
commitments not yet drawn
BDC lenders
2
1 on the latest quarter
Facilities
4
1 equity pieces beside them
Next maturity
Jan 29, 2027
$19.8M inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
21
dated, non-routine
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien | at least $16.6M | 72c | S+790 bp PIK 2.00% | Jan 29, 2027 | 2 |
| first lien revolver first lien | at least $2.2M | 72c | S+785 bp PIK 2.00% | Jan 29, 2027 | 2 |
| first lien delayed draw term loan first lien | at least $1.0M | n/a | S+785 bp PIK 2.00% | Jan 29, 2027 | 1 |
| delayed draw term loan lien unstated | unknown | n/a | unstated | 1 |
Equity pieces beside the debt: equity ($0 fair value, 2 BDCs)
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| M••••• C•••••• I••••• P••• C••• | term loan first lien Senior Secured Loans | $16.6M | $10.7M 72c | S+790 bp PIK 2.00% |
| M••••• C•••••• I••••• P••• C••• | revolver first lien Revolver) | Senior Secured Loans | $2.2M | $1.2M 72c | S+785 bp PIK 2.00% |
| M••••• C•••••• I••••• P••• C••• | delayed draw term loan lien unstated Delayed Draw) | n/a | n/a | |
| M••••• C•••••• I••••• P••• C••• | delayed draw term loan first lien Delayed Draw) | Senior Secured Loans | $1.0M | $0 | S+785 bp PIK 2.00% |
| M••••• C•••••• I••••• P••• C••• | revolver first lien Revolver) | n/a | n/a | |
| M••••• C•••••• I••••• P••• C••• | equity equity Class B units) | Equity Securities | $0 | $0 | |
| M••••• C•••••• I••••• P••• C••• | equity equity Class A units) | Equity Securities | $0 | $0 0c |
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 | $19.8M | $11.9M | 72c | 3 |
| Mar 31, 2026 | 1 | $12.7M | $8.5M | 68c | 2 |
| Dec 31, 2025 | 2 | $18.7M | $13.5M | 74c | 4 |
| Sep 30, 2025 | 2 | $18.7M | $14.9M | 85c | 4 |
| Jun 30, 2025 | 2 | $20.9M | $14.6M | 88c | 0 |
| Mar 31, 2025 | 2 | $20.9M | $15.8M | 95c | 0 |
| Dec 31, 2024 | 2 | $48.5M | $39.0M | 97c | 0 |
| Sep 30, 2024 | 2 | $20.9M | $16.4M | 97c | 0 |
| Jun 30, 2024 | 2 | $20.9M | $16.2M | 99c | 0 |
| Mar 31, 2024 | 2 | $20.9M | $16.2M | 99c | 0 |
| Dec 31, 2023 | 2 | $40.1M | $27.9M | 100c | 0 |
| Sep 30, 2023 | 2 | $21.4M | $16.7M | 99c | 0 |
| Jun 30, 2023 | 2 | $21.4M | $16.8M | 100c | 0 |
| Mar 31, 2023 | 2 | $21.5M | $16.9M | 100c | 0 |
| Dec 31, 2022 | 2 | $45.4M | $36.2M | 100c | 0 |
| Sep 30, 2022 | 1 | $7.4M | $5.9M | 101c | 0 |
| Dec 31, 2021 | 1 | $7.4M | $6.0M | 102c | 0 |
What changed
- Maturity approachingJan 29, 2027
- Maturity approachingJan 29, 2027
- Maturity approachingJan 29, 2027
- Maturity approachingJan 29, 2027
- Maturity approachingJan 29, 2027
- Maturity approachingJan 29, 2027
- Maturity approachingJan 29, 2027
- Maturity approachingJan 29, 2027
- Maturity approachingJan 29, 2027
- Marked down across lendersMar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down across lendersDec 31, 2025
- Marked down across lendersDec 31, 2025
- Marked down (one lender)Dec 31, 2025
- Marked down (one lender)Dec 31, 2025
- Marked down (one lender)Dec 31, 2025
- Marked down (one lender)Dec 31, 2025
- PIK interest appearsSep 30, 2025
- Maturity extended (observed)Sep 30, 2025
- Spread changed (observed)Sep 30, 2025
- PIK interest appearsSep 30, 2025
- Maturity extended (observed)Sep 30, 2025
- Spread changed (observed)Sep 30, 2025
- Spread increasedSep 30, 2025
- Spread increasedSep 30, 2025
- Spread increasedSep 30, 2025
- Spread increasedSep 30, 2025
- PIK interest appearsSep 30, 2025
- PIK interest appearsSep 30, 2025
Sponsor
- M•••••• C•••••• A•••••••
- the sponsor's own portfolio page lists a company of this nameestimatedmaredin.com"portfolio card on https://www.maredin.com/portfolio: I••••••••• | As an independent advisor, our opinions and views, we only take action based on our independent judgment, and no institution dictates "
Identity
- Group key
- INDEPENDENCEderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived