DFX Intelligence
The names on this page are hidden. Create a free account to reveal 5 records a month, or get Private Credit Intelligence at $249 a month for every name. Every figure, date and source on this page is public either way.
Borrower
R•••• B•••• C•••••• •
Software)group grade Aon a schedule nowsponsor unattributed
Also written as: Absorb; Absorb Software; R•••• AcquisitionCo LLC; R•••• B•••• C•••••• •dba Absorb
What matters now
- $88Mprincipal outstanding
$88M principal held by 4 lenders; matures May 2027.
Q2 2026 · Refinancing is due in 7 months at a 99¢ mark.
FactBDC schedules of investments, 30 Jun 2026; a sum of the BDCs' pieces, a lower bound
Mark path, consensus per quarter end
100¢ · 100¢ · 100¢ · 100¢ · 99¢Q2 2025 to Q2 2026
Where each lender marks it, 2 points apart
98¢100¢
Principal held
at least $88.0M
sum of BDC pieces, a lower bound
Fair value
$80.3M
99c on cost, debt pieces
Unfunded
$3.7M
commitments not yet drawn
BDC lenders
4
4 on the latest quarter
Facilities
2
1 equity pieces beside them
Next maturity
May 1, 2027
$69.4M inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
6
dated, non-routine
Lender marks
each lender's own fair value over cost at Jun 30, 2026, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| G•••••• S•••• B••• I••• | $24.6M | 98¢ | -1 pts |
| G•••• C•••••• B••• I••• | $22.7M | 99¢ | new this quarter |
| G•••••• S•••• P•••••• M••••• M••••• C••••• I• L•• | $22.2M | 98¢ | -1 pts |
| A••• C•••••• C••• | $18.6M | 100¢ | 0 pts |
Every BDC piece · 11 positions across 4 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| G•••••• S•••• B••• I••• | term loan first lien 1st L•••/S••••• S•••••• D••• I••••••• P••••••••• S••••••s I••••••• R••• 10.07% R•••••••• R | $21.2M | $20.7M 98c | SOFR+625 bp |
| G•••••• S•••• P•••••• M••••• M••••• C••••• I• L•• | term loan first lien 1st L•••/S••••• S•••••• D••• I••••••• P••••••••• S••••••s I••••••• R••• 10.07% R•••••••• R | $19.2M | $18.7M 98c | SOFR+625 bp |
| A••• C•••••• C••• | term loan first lien F•••• lien senior secured loan | $18.4M | $18.4M 100c | S+475 bp |
| G•••• C•••••• B••• I••• | term loan first lien One stop 3 | N••••••••• I••••• | $13.1M | $12.9M 99c | S+625 bp |
| G•••• C•••••• B••• I••• | term loan first lien One stop 1 | N••••••••• I••••• | $7.6M | $7.5M 99c | S+625 bp |
View all 11 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| G•••••• S•••• B••• I••• | term loan first lien 1st L•••/S••••• S•••••• D••• I••••••• P••••••••• S••••••s R•••••••• R••• and S••••• S + 6. | $3.4M | $-76,000 691c | SOFR+625 bp |
| G•••••• S•••• P•••••• M••••• M••••• C••••• I• L•• | term loan first lien 1st L•••/S••••• S•••••• D••• I••••••• P••••••••• S••••••s R•••••••• R••• and S••••• S + 6. | $3.1M | $-69,000 690c | SOFR+625 bp |
| G•••• C•••••• B••• I••• | term loan first lien One stop 4 | N••••••••• I••••• | $2.0M | $2.0M 99c | S+625 bp |
| A••• C•••••• C••• | revolver first lien F•••• lien senior secured revolving loan | $200,000 | $200,000 100c | S+475 bp |
| G•••• C•••••• B••• I••• | term loan first lien One stop 2 | N••••••••• I••••• | $0 | $-1,000 | S+625 bp |
| A••• C•••••• C••• | unstated lien unstated | Not disclosed | Not disclosed |
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 $87.8M | 99c | SOFR+625 bp | Jul 1, 2029 | 4 |
| first lien revolver first lien | at least $200,000 | 100c | S+475 bp | Jul 1, 2029 | 1 |
Equity pieces beside the debt: other (Not disclosed fair value, 1 BDC)
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 | 4 | $88.0M | $80.3M | 99c | 0 |
| Mar 31, 2026 | 3 | $77.2M | $70.3M | 100c | 0 |
| Dec 31, 2025 | 3 | $77.2M | $70.5M | 100c | 0 |
| Sep 30, 2025 | 3 | $65.4M | $58.6M | 100c | 0 |
All 17 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 3 | $61.4M | $58.0M | 100c | 0 |
| Mar 31, 2025 | 3 | $64.5M | $57.7M | 100c | 0 |
| Dec 31, 2024 | 3 | $136M | $119M | 100c | 0 |
| Sep 30, 2024 | 3 | $64.8M | $58.0M | 100c | 0 |
| Jun 30, 2024 | 3 | $65.2M | $58.3M | 100c | 0 |
| Mar 31, 2024 | 3 | $65.3M | $58.0M | 99c | 0 |
| Dec 31, 2023 | 3 | $112M | $97.6M | 100c | 0 |
| Sep 30, 2023 | 3 | $65.5M | $60.7M | 100c | 0 |
| Jun 30, 2023 | 3 | $65.3M | $17.6M | 95c | 0 |
| Mar 31, 2023 | 2 | $43.2M | $17.6M | 95c | 0 |
| Dec 31, 2022 | 3 | $65.0M | $57.4M | 98c | 0 |
| Sep 30, 2022 | 1 | $17.9M | $17.4M | 97c | 0 |
| Dec 31, 2021 | 1 | $17.5M | $17.2M | 98c | 0 |
What changed
- New lender joined a facilityJun 30, 2026
- Maturity extended (observed)Dec 31, 2025
- Spread changed (observed)Dec 31, 2025
- Maturity extended (observed)Dec 31, 2025
- Maturity extended (observed)Dec 31, 2025
Full timeline · 11 eventsShow fewer
- Maturity extended (observed)Dec 31, 2025
- Mark recoveredSep 30, 2023
- New lender joined a facilityDec 31, 2022
- Marked down across lendersDec 31, 2022
- Marked down (one lender)Dec 31, 2022
- Mark recoveredSep 30, 2022
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- RODEOderivedthe codename stem after legal suffixes and deal words
- Spellings
- 2 across 4 BDCsderived
- Industry
- Software)reportedas one filer wrote it