DFX Intelligence
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Borrower
S•••••• B••••• L••
Containers, Packaging & Glassgroup grade Aon a schedule nowsponsor unattributed
Also written as: Paper &
What matters now
- 98¢ → 93¢consensus mark
Consensus mark 93¢ on cost, down from 98¢ a year ago, 93¢ last quarter.
Q2 2026 · The lenders' own valuations, the most direct read of what they expect to recover.
Derived2 of 2 lenders' own marks, weighted by principal
Mark path, consensus per quarter end
98¢ · 98¢ · 95¢ · 93¢ · 93¢Q2 2025 to Q2 2026
Where each lender marks it, 8 points apart
89¢97¢
Principal held
at least $27.8M
sum of BDC pieces, a lower bound
Fair value
$25.8M
93c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
3
2 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
Dec 30, 2028
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
3
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 |
|---|---|---|---|
| F••••••• B•• C•••••• C••• | $15M | 97¢ | 0 pts |
| C•••••• S•••••• L••••••• I••• | $12.8M | 89¢ | 0 pts |
Every BDC piece · 2 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| F••••••• B•• C•••••• C••• | unstated lien unstated | $15.0M | $14.5M 97c | S+550 bp |
| C•••••• S•••••• L••••••• I••• | term loan first lien Credit Fund | F•••• L••• D••• | $12.8M | $11.3M 89c | S+550 bp |
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| other lien unstated | at least $15.0M | 97c | S+550 bp | Jan 2, 2029 | 3 |
| first lien term loan first lien | at least $12.8M | 89c | S+550 bp | Dec 30, 2028 | 1 |
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 | $27.8M | $25.8M | 93c | 0 |
| Mar 31, 2026 | 2 | $30.8M | $28.8M | 93c | 0 |
| Dec 31, 2025 | 2 | $30.9M | $29.5M | 95c | 0 |
| Sep 30, 2025 | 2 | $31.0M | $30.3M | 98c | 0 |
All 17 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 2 | $31.1M | $30.2M | 98c | 0 |
| Mar 31, 2025 | 2 | $31.1M | $30.6M | 98c | 0 |
| Dec 31, 2024 | 2 | $79.3M | $78.1M | 99c | 0 |
| Sep 30, 2024 | 2 | $31.3M | $30.7M | 98c | 0 |
| Jun 30, 2024 | 2 | $31.4M | $30.7M | 98c | 0 |
| Mar 31, 2024 | 2 | $31.5M | $30.7M | 98c | 0 |
| Dec 31, 2023 | 2 | $34.0M | $33.8M | 100c | 0 |
| Sep 30, 2023 | 3 | $31.6M | $31.5M | 100c | 0 |
| Jun 30, 2023 | 3 | $31.7M | $31.6M | 100c | 0 |
| Mar 31, 2023 | 3 | $31.8M | $31.7M | 100c | 0 |
| Dec 31, 2022 | 3 | $51.5M | $51.3M | 100c | 0 |
| Sep 30, 2022 | 1 | $14.7M | $14.7M | 101c | 0 |
| Dec 31, 2021 | 3 | $47.1M | $47.1M | 101c | 0 |
What changed
- Maturity extended (observed)Jun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- Marked down across lendersDec 31, 2025
- Marked down (one lender)Dec 31, 2025
Full timeline · 7 eventsShow fewer
- New borrower on a BDC scheduleDec 31, 2021
- Lender left a facilityDec 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
- STRIPERderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 3 BDCsderived
- Industry
- Containers, Packaging & Glassreportedas one filer wrote it