DFX Intelligence
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Borrower
T•• B•••• L••
group grade Con a schedule nowsponsor unattributed
What matters now
- 101¢ → 105¢consensus mark
Consensus mark 105¢ on cost, up from 101¢ a year ago, 107¢ last quarter.
Q1 2026 · The lenders' own valuations moved back up.
Derived1 of 1 lender' own marks, weighted by principal
Mark path, consensus per quarter end
101¢ · 107¢ · 105¢ · 107¢ · 105¢Q1 2025 to Q1 2026
Principal held
at least $17.2M
sum of BDC pieces, a lower bound
Fair value
$17.2M
105c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
2
1 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
Jun 14, 2031
no dated debt inside 24 months
On the tape since
Jun 30, 2024
latest Mar 31, 2026
Events
3
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 |
|---|---|---|---|
| M••••• C•••••• I••••• P••• C••• | $17.2M | 105¢ | -2 pts |
Every BDC piece · 1 position across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| M••••• C•••••• I••••• P••• C••• | term loan first lien S••••• S•••••• L•••• | $17.2M | $17.2M 105c | S+450 bp |
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 $17.2M | 105c | S+450 bp | Jun 14, 2031 | 1 |
| first lien delayed draw term loan first lien exited Sep 30, 2025 | at least $1.3M | 110c | //msdinvestmentcorp.com/20250930#Sterling Overnight Index Average+500 bp | Jun 16, 2031 | 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 | $17.2M | $17.2M | 105c | 0 |
| Dec 31, 2025 | 1 | $17.5M | $17.5M | 107c | 0 |
| Sep 30, 2025 | 2 | $28.0M | $31.6M | 105c | 0 |
| Jun 30, 2025 | 2 | $28.4M | $32.3M | 108c | 0 |
All 8 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Mar 31, 2025 | 2 | $27.3M | $30.3M | 101c | 0 |
| Dec 31, 2024 | 2 | $37.9M | $40.1M | 98c | 0 |
| Sep 30, 2024 | 2 | $24.5M | $27.6M | 106c | 0 |
| Jun 30, 2024 | 1 | $9.2M | $11.6M | 99c | 0 |
What changed
- Facility left every BDC scheduleMar 31, 2026
- Spread changed (observed)Dec 31, 2025
- Facility left every BDC scheduleSep 30, 2025
- Marked down (one lender)Dec 31, 2024
- Marked down (one lender)Dec 31, 2024
Full timeline · 6 eventsShow fewer
- New lender joined a facilitySep 30, 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
- T•• B•••• #UKderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived