DFX Intelligence
Private Credit Intelligence
The capital structure graph behind private markets. Who lent, to whom, under which sponsor, through which facility, how large the piece was, when it matures and what changed, with a filing behind every number. A BDC piece is that BDC's piece, a sum of pieces is a lower bound, and a sponsor is named with the evidence that names it.
Borrower
Paving Lessor Corp
Business Servicesgroup grade Aon a schedule nowsponsor unattributed
Also written as: 1; 2024; 2026; 28; Paving Lessor Corp. Acquisition 1; Paving Lessor Corp. Acquisitions 7
Principal held
at least $57.8M
sum of BDC pieces, a lower bound
Fair value
$38.0M
101c on cost, debt pieces
Unfunded
n/a
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
Jul 1, 2027
$11.9M inside 24 months
On the tape since
Sep 30, 2025
latest Jun 30, 2026
Events
1
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 $49.8M | 101c | SOFR+525 bp | Jul 1, 2031 | 2 |
| first lien revolver first lien | at least $7.9M | n/a | 0.00% | Jul 1, 2031 | 2 |
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| PennantPark Floating Rate Capital Ltd. | term loan first lien First Lien Secured Debt Term Loan Acquisition 7/1/2025 Maturity 7/1/2027 Industry Business | $8.6M | $65,000 | 0.00% |
| PennantPark Floating Rate Capital Ltd. | revolver first lien First Lien Secured Debt Revolver Acquisition 7/1/2025 Maturity 7/1/2031 Industry Business | $5.8M | $-0 | 0.00% |
| PennantPark Floating Rate Capital Ltd. | term loan first lien First Lien Secured Debt Acquisition 7/1/2025 Maturity 7/1/2031 Industry Business Services | $6.4M | $6.4M 101c | SOFR+525 bp |
| PennantPark Floating Rate Capital Ltd. | term loan first lien First Lien Secured Debt Acquisition 1/28/2026 Maturity 7/1/2031 Industry Commercial Servic | $4.8M | $4.8M 100c | //www.pennantpark.com/20260630#Secured Overnight Financing Rate+525 bp |
| PennantPark Floating Rate Capital Ltd. | term loan first lien First Lien Secured Debt First Lien -Term Loan Acquisition 8/28/2025 Maturity 7/1/2031 Indu | $19.8M | $19.8M 101c | SOFR+525 bp |
| PENNANTPARK INVESTMENT CORP | revolver first lien First Lien Secured Debt Revolver Acquisition 07/01/2025 Maturity 07/01/2031 Industry Busin | $2.2M | $-0 | 0.00% |
| PENNANTPARK INVESTMENT CORP | term loan first lien First Lien Secured Debt First Lien -Term Loan Acquisition 10/24/25 Maturity 07/01/31 Indus | $6.9M | $6.9M 101c | SOFR+525 bp |
| PENNANTPARK INVESTMENT CORP | term loan first lien First Lien Secured Debt Term Loan Acquisition 07/01/2025 Maturity 07/01/2027 Industry Busi | $3.3M | $25,000 | 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 | 2 | $57.8M | $38.0M | 101c | 0 |
| Mar 31, 2026 | 2 | $57.9M | $38.1M | 101c | 0 |
| Dec 31, 2025 | 2 | $57.9M | $37.8M | 100c | 0 |
| Sep 30, 2025 | 2 | $130M | $80.4M | 100c | 0 |
What changed
- New borrower on a BDC scheduleSep 30, 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
- PAVING LESSORderivedthe codename stem after legal suffixes and deal words
- Spellings
- 2 across 2 BDCsderived
- Industry
- Business Servicesreportedas one filer wrote it