DFX Intelligence
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Borrower
D•• H•••••• L••
group grade Aoff every schedule since Dec 31, 2025sponsor unattributed
Also written as: LLC Asset Type
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
101¢ · 101¢ · 101¢ · 101¢Q4 2024 to Q3 2025
Principal held
unknown
sum of BDC pieces, a lower bound
Fair value
Not disclosed
n/a on cost, debt pieces
Unfunded
$0
commitments not yet drawn
BDC lenders
5
2 on the latest quarter
Facilities
4
0 equity pieces beside them
Next maturity
unstated
no dated debt inside 24 months
On the tape since
Dec 31, 2022
latest Dec 31, 2025
Events
5
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 |
|---|---|---|---|
| N••••• C•••••••• D••••• L•••••• C•••• | no principal filed | no cost filed | new this quarter |
| N••••• C•••••••• P•••••• C•••••• I••••• F••• | no principal filed | no cost filed | new this quarter |
Every BDC piece · 2 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| N••••• C•••••••• D••••• L•••••• C•••• | delayed draw term loan first lien D•••••• D••• L••• | Not disclosed | Not disclosed | |
| N••••• C•••••••• P•••••• C•••••• I••••• F••• | delayed draw term loan first lien D•••••• D••• L••• | Not disclosed | Not disclosed |
Capital structure as the BDCs see it
latest quarter end Dec 31, 2025
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| other lien unstated exited Mar 31, 2025 | at least $7.9M | 102c | S+475 bp | Jul 13, 2029 | 3 |
| first lien term loan first lien exited Sep 30, 2025 | at least $444,000 | 101c | SOFR+475 bp | Jul 13, 2029 | 4 |
| first lien delayed draw term loan first lien exited Dec 31, 2025 | unknown | n/a | unstated | 2 | |
| delayed draw term loan lien unstated exited Dec 31, 2024 | unknown | n/a | S+575 bp | unstated | 3 |
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 | 2 | $0 | $0 | n/a | 0 |
| Sep 30, 2025 | 4 | $6.7M | $6.7M | 101c | 0 |
| Jun 30, 2025 | 4 | $8.4M | $6.7M | 101c | 0 |
| Mar 31, 2025 | 4 | $8.4M | $6.8M | 101c | 0 |
All 12 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Dec 31, 2024 | 4 | $16.6M | $13.4M | 102c | 0 |
| Sep 30, 2024 | 1 | $248,000 | $246,000 | 100c | 0 |
| Jul 31, 2024 | 1 | $1.3M | $1.4M | 100c | 0 |
| Jun 30, 2024 | 2 | $6.9M | $5.3M | 102c | 0 |
| Mar 31, 2024 | 2 | $6.9M | $5.2M | 101c | 0 |
| Dec 31, 2023 | 2 | $6.7M | $5.0M | 101c | 0 |
| Sep 30, 2023 | 1 | $6.7M | $4.9M | 100c | 0 |
| Dec 31, 2022 | 1 | $0 | $0 | n/a | 0 |
What changed
- Facility left every BDC scheduleDec 31, 2025
- Facility left every BDC scheduleSep 30, 2025
- Facility left every BDC scheduleMar 31, 2025
- Spread changed (observed)Dec 31, 2024
- New lender joined a facilityDec 31, 2024
Full timeline · 9 eventsShow fewer
- New lender joined a facilityDec 31, 2024
- New lender joined a facilityDec 31, 2024
- Facility left every BDC scheduleDec 31, 2024
- New lender joined a facilityDec 31, 2023
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- D•• H•••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 5 BDCsderived