DFX Intelligence
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Borrower
T•••••• P••••••••• I••
Also written as: Inc. 1; Inc. 2; Inc. Asset Type; Inc. Sr Secured; T•••••• Buyer, Inc; T•••••• Topco L.P; Vector Solutions
Principal held
at least $307M
sum of BDC pieces, a lower bound
Fair value
$333M
99c on cost, debt pieces
Unfunded
$29.8M
commitments not yet drawn
BDC lenders
11
10 on the latest quarter
Facilities
5
1 equity pieces beside them
Next maturity
Jun 1, 2028
$307M inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
7
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 $292M | 99c | SOFR+525 bp | Oct 17, 2030 | 11 |
| first lien delayed draw term loan first lien | at least $14.8M | 100c | SOFR+540 bp | Oct 17, 2030 | 10 |
| revolver lien unstated | at least $0 | n/a | SOFR+540 bp | Jun 30, 2028 | 1 |
| first lien revolver first lien | unknown | 100c | SOFR+475 bp | Oct 17, 2030 | 6 |
| other lien unstated exited Dec 31, 2023 | at least $147M | 100c | S+575 bp | Jun 1, 2028 | 2 |
Equity pieces beside the debt: equity ($16.1M fair value, 5 BDCs)
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| 2•••••• B••• I••• | revolver first lien Debt Investments | First Lien Senior Secured Revolving Loan | SOFR + 4.750% | 8.726% | 10/ | n/a | $1.3M 100c | SOFR+475 bp |
| 2•••••• B••• I••• | delayed draw term loan first lien Debt Investments | First Lien Senior Secured Delayed Draw Term Loan | SOFR + 4.750% | 8.41 | n/a | $655,000 94c | SOFR+475 bp |
| 2•••••• B••• I••• | term loan first lien Debt Investments | First Lien Senior Secured Term Loan | SOFR + 4.750% | 8.482% | 10/17/20 | n/a | $16.1M 100c | SOFR+475 bp |
| A•••••• P•••••• C••••• F••• | term loan first lien Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.15% Ma | $197,000 | $197,000 100c | SOFR+525 bp |
| A•••••• S•••••••• C••••• F••• | term loan first lien Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.15% Ma | $4.1M | $4.1M 100c | SOFR+525 bp |
| A•••••• S•••••••• C••••• F••• | delayed draw term loan first lien Asset Type First Lien Delayed Draw Term Loan Reference Rate and Spread S + 5.25% Interest | $9.8M | $7.3M 100c | SOFR+525 bp |
| A•••••• S•••••••• C••••• F••• | term loan first lien Asset Type First Lien Term Loan Reference Rate and Spread S + 5.25% Interest Rate 9.15% Ma | $244,000 | $244,000 100c | SOFR+525 bp |
| A•••••• S•••••••• C••••• F••• | delayed draw term loan first lien Commitment Type Delayed Draw Term Loan Commitment Expiration Date 10/31/2026 | n/a | $0 | |
| B•••••••• D••••• L•••••• C•••• | term loan first lien Instrument First Lien Term Loan Ref SOFR(Q) Floor 1.00% Spread 5.40% Total Coupon 9.13% Ma | $3.4M | $3.3M 99c | SOFR+540 bp |
| B•••••••• D••••• L•••••• C•••• | revolver lien unstated Instrument Sr Secured Revolver Ref SOFR(Q) Floor 1.00% Spread 5.40% Total Coupon 9.13% Mat | $0 | $-1,397 175c | SOFR+540 bp |
| B•••••••• P•••••• C••••• F••• | delayed draw term loan first lien Instrument First Lien Incremental Delayed Draw Term Loan Ref SOFR(Q) Floor 1.00% Spread 5. | $1.0M | $993,704 99c | SOFR+540 bp |
| B•••••••• P•••••• C••••• F••• | term loan first lien Instrument First Lien Incremental Term Loan Ref SOFR(Q) Floor 1.00% Spread 5.40% Total Cou | $566,263 | $558,949 99c | SOFR+540 bp |
| B•••••••• T•• C•••••• C•••• | term loan first lien First Lien Incremental Term Loan Ref SOFR(Q) Floor 1.00% Spread 5.40% Total Coupon 9.13% M | $2.2M | $2.2M 100c | SOFR+540 bp |
| B•••••••• T•• C•••••• C•••• | delayed draw term loan first lien First Lien Incremental Delayed Draw Term Loan Ref SOFR(Q) Floor 1.00% Spread 5.40% Total C | $4.0M | $3.9M 100c | SOFR+540 bp |
| B••• O•• C•••••• C••• | term loan first lien First lien senior secured loan | Non-Affiliated | $96.7M | $95.0M 99c | S+525 bp |
| B••• O•• C•••••• C••• | revolver first lien First lien senior secured revolving loan | n/a | $-138,000 | |
| B••• O•• C•••••• C••• | equity equity Common Units | Non-Affiliated | n/a | $6.3M 99c | |
| B••• O•• C•••••• C••• I• | equity equity Common Units | Non Affiliated | n/a | $862,000 105c | |
| B••• O•• C•••••• C••• I• | revolver first lien First lien senior secured revolving loan | Non-Affiliated | n/a | n/a | |
| B••• O•• C•••••• C••• I• | term loan first lien First lien senior secured loan | Non Affiliated | $2.9M | $2.9M 99c | S+525 bp |
| B••• O•• C••••• I••••• C•••• | revolver first lien First lien senior secured revolving loan | Non-controlled/non-affiliated | n/a | n/a | |
| B••• O•• C••••• I••••• C•••• | delayed draw term loan first lien First lien senior secured delayed draw term loan | Non-controlled/non-affiliated | n/a | n/a | |
| B••• O•• C••••• I••••• C•••• | term loan first lien First lien senior secured loan | Non-Affiliated Issuer | $44.1M | $43.2M 98c | S+525 bp |
| B••• O•• C••••• I••••• C•••• | equity equity Common Units | Non-Affiliated Issuer | n/a | $749,000 105c | |
| B••• O•• T••••••••• F•••••• C•••• | term loan first lien First lien senior secured loan | Non-Affiliated Issuer | $138M | $135M 99c | S+525 bp |
| B••• O•• T••••••••• F•••••• C•••• | revolver first lien First lien senior secured revolving loan | Non-Affiliated Issuer | n/a | $-197,000 | |
| B••• O•• T••••••••• F•••••• C•••• | equity equity Common Units | Non-Affiliated Issuer | n/a | $8.3M 105c |
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 | 10 | $307M | $317M | 99c | 0 |
| Mar 31, 2026 | 10 | $308M | $317M | 98c | 0 |
| Dec 31, 2025 | 10 | $328M | $359M | 100c | 0 |
| Sep 30, 2025 | 10 | $329M | $343M | 101c | 0 |
| Jun 30, 2025 | 10 | $330M | $343M | 101c | 0 |
| Mar 31, 2025 | 10 | $331M | $344M | 101c | 0 |
| Dec 31, 2024 | 10 | $385M | $390M | 100c | 0 |
| Sep 30, 2024 | 7 | $295M | $295M | 101c | 0 |
| Jun 30, 2024 | 7 | $296M | $295M | 101c | 0 |
| Mar 31, 2024 | 7 | $294M | $293M | 100c | 0 |
| Dec 31, 2023 | 6 | $442M | $440M | 100c | 0 |
| Sep 30, 2023 | 5 | $221M | $219M | 100c | 0 |
| Jun 30, 2023 | 6 | $288M | $286M | 101c | 0 |
| Mar 31, 2023 | 6 | $286M | $283M | 101c | 0 |
| Dec 31, 2022 | 6 | $282M | $276M | 99c | 0 |
| Sep 30, 2022 | 1 | $69.6M | $68.1M | 99c | 0 |
| Dec 31, 2021 | 1 | $64.8M | $64.3M | 100c | 0 |
What changed
- Maturity extended (observed)Jun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- Marked down (one lender)Dec 31, 2025
- Maturity extended (observed)Dec 31, 2024
- Maturity extended (observed)Dec 31, 2024
- New lender joined a facilityDec 31, 2024
- New lender joined a facilityDec 31, 2024
- New lender joined a facilityDec 31, 2024
- New lender joined a facilityDec 31, 2024
- New lender joined a facilityDec 31, 2024
- Maturity extended (observed)Dec 31, 2024
- New lender joined a facilityDec 31, 2024
- New lender joined a facilityDec 31, 2024
- Lender left a facilitySep 30, 2024
- Lender left a facilityMar 31, 2024
- Facility left every BDC scheduleDec 31, 2023
- Lender left a facilityDec 31, 2023
- Lender left a facilityDec 31, 2023
- Lender left a facilityDec 31, 2023
- Maturity shortened (observed)Dec 31, 2023
- Maturity extended (observed)Sep 30, 2023
- Maturity extended (observed)Sep 30, 2023
- New lender joined a facilityDec 31, 2022
- New lender joined a facilityDec 31, 2022
- New lender joined a facilityDec 31, 2022
- Maturity extended (observed)Dec 31, 2022
- New lender joined a facilityDec 31, 2022
- New lender joined a facilityDec 31, 2022
- New lender joined a facilityDec 31, 2022
- New lender joined a facilityDec 31, 2022
Sponsor
- G•••••• C••••••
- the sponsor's own portfolio page lists a company of this nameestimatedgencap.com"••• Locked"
- G••••• G••• C••••••
- the sponsor's own portfolio page lists a company of this nameestimatedprovequity.com"••• Locked"
Identity
- Group key
- THUNDERderivedthe codename stem after legal suffixes and deal words
- Spellings
- 3 across 11 BDCsderived
- Industry
- Softwarereportedas one filer wrote it