DFX Intelligence
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Borrower
W•••••• H•••••••• L••
Electrical Components & Equipmentgroup grade Aon a schedule nowsponsor unattributed
Also written as: W•••••• Opco LLC
What matters now
- 100¢ → 91¢consensus mark
Consensus mark 91¢ on cost, down from 100¢ a year ago, 92¢ last quarter.
Q2 2026 · The lenders' own valuations, the most direct read of what they expect to recover.
Derived1 of 1 lender' own marks, weighted by principal
Mark path, consensus per quarter end
100¢ · 96¢ · 92¢ · 92¢ · 91¢Q2 2025 to Q2 2026
Principal held
at least $25.3M
sum of BDC pieces, a lower bound
Fair value
$22.9M
91c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
2
1 on the latest quarter
Facilities
2
2 equity pieces beside them
Next maturity
Mar 27, 2030
no dated debt inside 24 months
On the tape since
Mar 31, 2025
latest Jun 30, 2026
Events
6
dated, non-routine
Lender marks
each lender's own fair value over cost at Jun 30, 2026, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| F••••••• P•••••• C••••• F••• | $25.3M | 91¢ | -1 pts |
Every BDC piece · 4 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| F••••••• P•••••• C••••• F••• | term loan first lien F•••• L••• D••• T••• L••• R•••••••• R••• and S••••• S••• + 7.00% (0.50% PIK) I••••••• R••• | $23.2M | $21.3M 93c | SOFR+700 bp PIK 0.50% |
| F••••••• P•••••• C••••• F••• | revolver first lien F•••• L••• D••• R•••••••• Credit F••••••• R•••••••• R••• and S••••• S••• + 6.50% I••••••• | $2.1M | $1.5M 74c | SOFR+650 bp |
| F••••••• P•••••• C••••• F••• | equity equity C••••• U•••• | Not disclosed | $0 0c | |
| F••••••• P•••••• C••••• F••• | preferred equity equity Series A P•••••••• U•••• | Not disclosed | $172,882 65c |
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 $23.2M | 93c | SOFR+700 bp PIK 0.50% | Mar 27, 2030 | 2 |
| first lien revolver first lien | at least $2.1M | 74c | SOFR+650 bp | Mar 27, 2030 | 2 |
Equity pieces beside the debt: equity ($0 fair value, 2 BDCs), preferred equity ($172,882 fair value, 2 BDCs)
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 | $25.3M | $22.7M | 91c | 1 |
| Mar 31, 2026 | 2 | $26.1M | $23.6M | 92c | 0 |
| Dec 31, 2025 | 2 | $26.1M | $23.6M | 92c | 0 |
| Sep 30, 2025 | 2 | $26.2M | $24.7M | 96c | 0 |
All 6 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 2 | $25.9M | $25.4M | 100c | 0 |
| Mar 31, 2025 | 2 | $25.1M | $24.6M | 100c | 0 |
What changed
- Spread changed (observed)Jun 30, 2026
- PIK interest appearsJun 30, 2026
- Spread changed (observed)Jun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
Full timeline · 13 eventsShow fewer
- PIK interest appearsJun 30, 2026
- Marked down across lendersDec 31, 2025
- Marked down (one lender)Dec 31, 2025
- Marked down (one lender)Dec 31, 2025
- Marked down across lendersSep 30, 2025
- Marked down (one lender)Sep 30, 2025
- Marked down (one lender)Sep 30, 2025
- New borrower on a BDC scheduleMar 31, 2025
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- WARSHAWderivedthe codename stem after legal suffixes and deal words
- Spellings
- 2 across 2 BDCsderived
- Industry
- Electrical Components & Equipmentreportedas one filer wrote it