DFX Intelligence
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Borrower
P••••••••• N•••• L••
group grade Aoff every schedule since Dec 31, 2025sponsor unattributed
Also written as: P••••••••• Finco S.a.r.l; P••••••••• Acquisition, LLC; P••••••••• Finco
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
101¢ · 100¢ · 100¢ · 100¢ · 101¢Q4 2024 to Q4 2025
Principal held
at least $6.6M
sum of BDC pieces, a lower bound
Fair value
$6.6M
101c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
6
1 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
Dec 1, 2032
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Dec 31, 2025
Events
7
dated, non-routine
Lender marks
each lender's own fair value over cost at Dec 31, 2025, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| G•••• C•••••• P•••••• C••••• F••• | $6.6M | 101¢ | +1 pts |
Every BDC piece · 1 position across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| G•••• C•••••• P•••••• C••••• F••• | term loan first lien S••••• secured | $6.6M | $6.6M 101c | S+250 bp |
Capital structure as the BDCs see it
latest quarter end Dec 31, 2025
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| term loan lien unstated exited Jun 30, 2024 | at least $20.4M | 102c | S+650 bp | Jul 31, 2026 | 2 |
| first lien term loan first lien exited Dec 31, 2025 | at least $6.6M | 101c | S+250 bp | Dec 1, 2032 | 1 |
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Dec 31, 2025 | 1 | $6.6M | $6.6M | 101c | 0 |
| Sep 30, 2025 | 1 | $28.3M | $28.5M | 100c | 0 |
| Jun 30, 2025 | 1 | $14.2M | $14.3M | 100c | 0 |
| Mar 31, 2025 | 2 | $19.9M | $19.9M | 100c | 0 |
All 14 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Dec 31, 2024 | 1 | $21.7M | $21.9M | 101c | 0 |
| Sep 30, 2024 | 1 | $14.8M | $14.8M | 100c | 0 |
| Jun 30, 2024 | 3 | $33.2M | $33.5M | 101c | 0 |
| Mar 31, 2024 | 3 | $24.4M | $24.6M | 101c | 0 |
| Dec 31, 2023 | 3 | $28.3M | $28.3M | 101c | 0 |
| Sep 30, 2023 | 3 | $26.4M | $26.3M | 100c | 0 |
| Jun 30, 2023 | 2 | $4.3B | $4.3B | 101c | 0 |
| Mar 31, 2023 | 1 | $798,000 | $781,300 | 98c | 0 |
| Sep 30, 2022 | 1 | $60.0M | $60.0M | 105c | 0 |
| Dec 31, 2021 | 1 | $60.5M | $61.1M | 108c | 0 |
What changed
- Maturity extended (observed)Dec 31, 2025
- Facility left every BDC scheduleDec 31, 2025
- Lender left a facilityDec 31, 2025
- Maturity extended (observed)Dec 31, 2025
- Spread changed (observed)Sep 30, 2025
Full timeline · 12 eventsShow fewer
- Lender left a facilityMar 31, 2025
- New lender joined a facilityMar 31, 2025
- Facility left every BDC scheduleJun 30, 2024
- Maturity extended (observed)Mar 31, 2023
- Spread changed (observed)Mar 31, 2023
- Lender left a facilitySep 30, 2022
- New borrower on a BDC scheduleDec 31, 2021
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- PROPULSIONderivedthe codename stem after legal suffixes and deal words
- Spellings
- 3 across 6 BDCsderived