DFX Intelligence
Private Credit Intelligence
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Borrower
S•••• P••••••••• L••
Commercial Services & Suppliesgroup grade Aon a schedule nowsponsor unattributed
Also written as: LLC Investments; S•••• Midco LLC
Principal held
at least $149M
sum of BDC pieces, a lower bound
Fair value
$90.3M
93c on cost, debt pieces
Unfunded
$1.3M
commitments not yet drawn
BDC lenders
6
5 on the latest quarter
Facilities
6
0 equity pieces beside them
Next maturity
Jun 30, 2027
$94.0M inside 24 months
On the tape since
Dec 31, 2022
latest Jun 30, 2026
Events
20
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 $94.0M | 99c | SOFR+575 bp PIK 5.75% | Jun 30, 2027 | 5 |
| second lien term loan second lien | at least $54.8M | 34c | 0.00% | Mar 12, 2036 | 5 |
| first lien revolver first lien | unknown | n/a | unstated | 2 | |
| other lien unstated exited Jun 30, 2025 | at least $5.6M | 102c | S+575 bp PIK 5.75% | unstated | 4 |
| delayed draw term loan lien unstated exited Dec 31, 2024 | at least $5.5M | 102c | S+575 bp PIK 5.75% | unstated | 2 |
| revolver lien unstated exited Jun 30, 2024 | unknown | n/a | unstated | 1 |
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| G•••••• S•••• B••• I••• | term loan second lien 2nd Lien/Senior Secured Debt Industry Commercial Services & Supplies Reference Rate and Sp | $16.4M | $0 | |
| G•••••• S•••• B••• I••• | term loan first lien 1st Lien/Senior Secured Debt Industry Commercial Services & Supplies Interest Rate 10.15% | $4.5M | $1.3M 98c | SOFR+575 bp |
| G•••••• S•••• B••• I••• | term loan second lien 2nd Lien/Senior Secured Debt Industry Commercial Services & Supplies Reference Rate and Sp | $5.6M | $1.1M 27c | |
| G•••••• S•••• B••• I••• | term loan first lien 1st Lien/Senior Secured Debt Industry Commercial Services & Supplies Interest Rate 9.52% R | $23.5M | $23.2M 99c | 9.52% PIK 5.75% |
| G•••••• S•••• B••• I••• | term loan first lien 1st Lien/Senior Secured Debt Industry Commercial Services & Supplies Interest Rate 9.51% R | $10.5M | $10.4M 99c | SOFR+575 bp |
| G•••••• S•••• P•••••• M••••• M••••• C••••• I• L•• | term loan first lien 1st Lien/Senior Secured Debt Industry Commercial Services & Supplies Interest Rate 9.52% R | $21.1M | $20.8M 99c | 9.52% PIK 5.75% |
| G•••••• S•••• P•••••• M••••• M••••• C••••• I• L•• | term loan first lien 1st Lien/Senior Secured Debt Industry Commercial Services & Supplies Interest Rate 9.51% R | $9.4M | $9.3M 99c | SOFR+575 bp |
| G•••••• S•••• P•••••• M••••• M••••• C••••• I• L•• | term loan second lien 2nd Lien/Senior Secured Debt Industry Commercial Services & Supplies Maturity 03/12/34 | $5.1M | $1.0M 27c | |
| G•••••• S•••• P•••••• M••••• M••••• C••••• I• L•• | term loan first lien 1st Lien/Senior Secured Debt Industry Commercial Services & Supplies Interest Rate 10.15% | $4.2M | $1.2M 98c | SOFR+575 bp |
| G•••••• S•••• P•••••• M••••• M••••• C••••• I• L•• | term loan second lien 2nd Lien/Senior Secured Debt Industry Commercial Services & Supplies Maturity 03/12/36 | $14.7M | n/a | |
| M••••• S•••••• D••••• L•••••• F••• | term loan second lien Investment Second Lien Debt Maturity Date 03/12/2036 | $4.9M | $1,000 | |
| M••••• S•••••• D••••• L•••••• F••• | term loan first lien Investment First Lien Debt Reference Rate and Spread S + 5.75% Interest Rate 9.51% Maturit | $3.1M | $3.1M 100c | SOFR+575 bp |
| M••••• S•••••• D••••• L•••••• F••• | term loan first lien Investment First Lien Debt Reference Rate and Spread S + 5.75% Interest Rate 9.51% Maturit | $422,000 | $422,000 100c | SOFR+575 bp |
| M••••• S•••••• D••••• L•••••• F••• | revolver first lien First Lien Debt Commitment Type Revolver Commitment Expiration Date 06/30/2027 | n/a | n/a | |
| M••••• S•••••• D••••• L•••••• F••• | term loan second lien Investment Second Lien Debt Maturity Date 03/12/2034 | $1.7M | $588,000 70c | |
| M••••• S•••••• D••••• L•••••• F••• | term loan first lien Investment First Lien Debt Reference Rate and Spread S + 5.75% PIK Interest Rate 9.52% Mat | $7.0M | $7.0M 100c | 9.52% PIK 5.75% |
| N•••• H•••• P•••••• I••••• F••• L•• | term loan first lien Investment First Lien Debt Reference Rate & Spread S + 5.75% Interest Rate 9.51% Maturity | $2.0M | $2.0M 100c | SOFR+575 bp |
| N•••• H•••• P•••••• I••••• F••• L•• | term loan second lien Investment Second Lien Debt Maturity Date 03/12/2036 | $1.1M | $382,000 70c | |
| N•••• H•••• P•••••• I••••• F••• L•• | term loan first lien Investment First Lien Debt Reference Rate & Spread S + 5.75% PIK Interest Rate 9.52% Matur | $4.5M | $4.5M 100c | 9.52% PIK 5.75% |
| N•••• H•••• P•••••• I••••• F••• L•• | term loan first lien Investment First Lien Debt Reference Rate & Spread S + 5.75% Interest Rate 9.51% Maturity | $141,000 | $141,000 100c | SOFR+575 bp |
| N•••• H•••• P•••••• I••••• F••• L•• | term loan second lien Investment Second Lien Debt Maturity Date 03/12/2034 | $3.2M | $0 | |
| N•••• H•••• P•••••• I••••• F••• L•• | revolver first lien First Lien Debt Commitment Type Revolver Commitment Expiration Date 06/30/2027 | n/a | n/a | |
| T• S••••• B•• L•• | term loan second lien Investment Second Lien Debt Reference Rate and Spread Interest Rate 0.00% Maturity Date 3/ | $1.7M | $0 | 0.00% |
| T• S••••• B•• L•• | term loan first lien Investment First Lien Debt Reference Rate and Spread S + 5.75% PIK Interest Rate 9.52% Mat | $2.4M | $2.4M 100c | 9.52% PIK 5.75% |
| T• S••••• B•• L•• | term loan first lien Investment First Lien Debt Reference Rate and Spread S + 5.75% PIK Interest Rate 9.51% Mat | $1.1M | $1.1M 100c | SOFR+575 bp |
| T• S••••• B•• L•• | term loan second lien Investment Second Lien Debt Reference Rate and Spread Interest Rate 0.00% Maturity Date 3/ | $580,000 | $204,000 70c | 0.00% |
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 | $149M | $90.3M | 93c | 5 |
| Mar 31, 2026 | 5 | $147M | $91.0M | 96c | 5 |
| Dec 31, 2025 | 5 | $126M | $71.5M | 97c | 4 |
| Sep 30, 2025 | 5 | $125M | $71.3M | 98c | 4 |
| Jun 30, 2025 | 5 | $125M | $72.3M | 100c | 4 |
| Mar 31, 2025 | 5 | $111M | $56.7M | 100c | 4 |
| Dec 31, 2024 | 5 | $213M | $134M | 101c | 10 |
| Sep 30, 2024 | 5 | $105M | $55.1M | 100c | 3 |
| Jun 30, 2024 | 5 | $134M | $81.4M | 100c | 4 |
| Mar 31, 2024 | 6 | $138M | $83.5M | 100c | 3 |
| Dec 31, 2023 | 6 | $233M | $176M | 76c | 0 |
| Sep 30, 2023 | 6 | $132M | $124M | 95c | 0 |
| Jun 30, 2023 | 6 | $132M | $29.2M | 97c | 0 |
| Mar 31, 2023 | 6 | $83.7M | $28.6M | 97c | 0 |
| Dec 31, 2022 | 6 | $145M | $121M | 99c | 0 |
What changed
- Maturity approachingJun 30, 2027
- Maturity approachingJun 30, 2027
- Maturity approachingJun 30, 2027
- Marked down across lendersJun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Maturity shortened (observed)Jun 30, 2026
- Maturity extended (observed)Mar 31, 2026
- Marked down across lendersMar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- PIK interest appearsMar 31, 2026
- Maturity extended (observed)Mar 31, 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
- Facility left every BDC scheduleJun 30, 2025
- Lender left a facilityJun 30, 2025
- Lender left a facilityJun 30, 2025
- Marked down (one lender)Mar 31, 2025
- New lender joined a facilityDec 31, 2024
- Facility left every BDC scheduleDec 31, 2024
- New lender joined a facilityDec 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
- SWEEPderivedthe codename stem after legal suffixes and deal words
- Spellings
- 2 across 6 BDCsderived
- Industry
- Commercial Services & Suppliesreportedas one filer wrote it