DFX Intelligence
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Borrower
D••••• A••••••••• I••
Softwaregroup grade Aon a schedule nowsponsor unattributed
Also written as: 3; 783; 922; D••••• Bidco, Inc; D••••• Buyer LLC; Equity Securities; Inc. (189; Inc. (531
Principal held
at least $59.6M
sum of BDC pieces, a lower bound
Fair value
$60.2M
99c on cost, debt pieces
Unfunded
$14.0M
commitments not yet drawn
BDC lenders
6
5 on the latest quarter
Facilities
3
2 equity pieces beside them
Next maturity
Jul 31, 2026
$32.8M inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
23
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 $59.2M | 99c | SOFR+660 bp PIK 3.37% | Sep 1, 2031 | 6 |
| first lien revolver first lien | at least $394,976 | 95c | SOFR+287 bp PIK 3.37% | Sep 1, 2031 | 4 |
| first lien delayed draw term loan first lien | at least $56,885 | n/a | SOFR+287 bp PIK 3.37% | Feb 6, 2030 | 3 |
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A• P•••••• C••••• I•••••••• C••• | term loan first lien US C•••••••• D••• | 1st L•••/S••••• S•••••• D••• | T••• L••• | 9.98% (S + 2.87%; 1.00% F•• | $6.7M | $6.5M 97c | SOFR+287 bp PIK 3.37% |
| A• P•••••• C••••• I•••••••• C••• | revolver first lien US C•••••••• D••• | 1st L•••/S••••• S•••••• D••• | R••••••• | 9.98% (S + 2.87%; 1.00% F••• | $394,976 | $370,853 95c | SOFR+287 bp PIK 3.37% |
| A• P•••••• C••••• I•••••••• C••• | delayed draw term loan first lien US C•••••••• D••• | 1st L•••/S••••• S•••••• D••• | D•••••• D••• T••• L••• | 9.98% (S + 2.8 | $56,885 | $54,752 97c | SOFR+287 bp PIK 3.37% |
| A••• C•••••• C••• | unstated lien unstated | n/a | n/a | |
| A••• C•••••• C••• | term loan first lien F•••• lien senior secured loan | $7.7M | $7.7M 100c | S+425 bp |
| A••• S•••••••• I••••• F••• | unstated lien unstated | n/a | n/a | |
| A••• S•••••••• I••••• F••• | revolver first lien F•••• lien senior secured revolving loan | $0 | $0 | S+425 bp |
| A••• S•••••••• I••••• F••• | term loan first lien F•••• lien senior secured loan | $6.9M | $6.9M 101c | S+425 bp |
| M••••• C•••••• E••••••• C•••••••• L•••••• F••• | term loan first lien S••••• S•••••• L•••• | N••••••••• I••••• | $2.2M | $2.2M 100c | S+660 bp |
| M••••• C•••••• E••••••• C•••••••• L•••••• F••• | term loan first lien S••••• S•••••• L•••• | N••••••••• I••••• | $2.9M | $2.9M 100c | S+660 bp |
| M••••• C•••••• I••••• P••• C••• | equity equity C•••• A-1 units) | Equity S••••••••• | $0 | $795,000 101c | |
| M••••• C•••••• I••••• P••• C••• | term loan first lien S••••• S•••••• L•••• | $17.9M | $17.8M 100c | S+660 bp |
| M••••• C•••••• I••••• P••• C••• | equity equity C•••• A-2 units) | Equity S••••••••• | $0 | $195,000 527c | |
| M••••• C•••••• I••••• P••• C••• | term loan first lien S••••• S•••••• L•••• | $14.9M | $14.8M 100c | S+660 bp |
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 | 5 | $59.6M | $59.2M | 99c | 3 |
| Mar 31, 2026 | 5 | $52.6M | $50.5M | 99c | 3 |
| Dec 31, 2025 | 6 | $68.9M | $65.9M | 100c | 6 |
| Sep 30, 2025 | 5 | $56.6M | $53.7M | 99c | 2 |
| Jun 30, 2025 | 5 | $56.7M | $53.5M | 99c | 2 |
| Mar 31, 2025 | 5 | $55.6M | $52.2M | 99c | 6 |
| Dec 31, 2024 | 5 | $110M | $102M | 99c | 19 |
| Sep 30, 2024 | 5 | $55.3M | $51.8M | 99c | 9 |
| Jun 30, 2024 | 3 | $42.3M | $39.0M | 99c | 2 |
| Mar 31, 2024 | 3 | $42.4M | $39.1M | 99c | 0 |
| Dec 31, 2023 | 2 | $78.2M | $68.3M | 99c | 0 |
| Sep 30, 2023 | 2 | $36.3M | $33.2M | 99c | 0 |
| Jun 30, 2023 | 2 | $36.4M | $33.5M | 100c | 0 |
| Mar 31, 2023 | 2 | $37.3M | $33.5M | 100c | 2 |
| Dec 31, 2022 | 2 | $79.7M | $77.9M | 102c | 0 |
| Sep 30, 2022 | 1 | $5.8M | $4.9M | 101c | 0 |
| Dec 31, 2021 | 1 | $5.8M | $5.0M | 102c | 0 |
What changed
- Spread changed (observed)Jun 30, 2026
- Maturity extended (observed)Mar 31, 2026
- Lender left a facilityMar 31, 2026
- Spread changed (observed)Dec 31, 2025
- Spread changed (observed)Sep 30, 2025
- Spread changed (observed)Jun 30, 2025
- Spread changed (observed)Jun 30, 2025
- Maturity extended (observed)Dec 31, 2024
- New lender joined a facilityDec 31, 2024
- Spread changed (observed)Sep 30, 2024
- Maturity extended (observed)Sep 30, 2024
- New lender joined a facilitySep 30, 2024
- New lender joined a facilitySep 30, 2024
- Spread changed (observed)Sep 30, 2024
- Spread increasedSep 30, 2024
- Spread increasedSep 30, 2024
- Spread increasedSep 30, 2024
- Spread increasedSep 30, 2024
- Spread increasedSep 30, 2024
- Spread increasedSep 30, 2024
- Spread increasedSep 30, 2024
- PIK interest appearsSep 30, 2024
- PIK interest appearsSep 30, 2024
- Spread changed (observed)Sep 30, 2024
- PIK interest appearsJun 30, 2024
- PIK interest appearsJun 30, 2024
- Spread changed (observed)Jun 30, 2024
- Maturity extended (observed)Jun 30, 2024
- Maturity extended (observed)Jun 30, 2024
- Maturity extended (observed)Mar 31, 2024
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- DORADOderivedthe codename stem after legal suffixes and deal words
- Spellings
- 3 across 6 BDCsderived
- Industry
- Softwarereportedas one filer wrote it