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Borrower

T••••••••• H••••••• C•••••••••

Application Softwaregroup grade Aon a schedule nowsponsor not established · possible relationship
Also written as: T••••••••• 2 LLC; T••••••••• Topco 2 LLC
See every lender's markFind rescue capital
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Special situations PE firms

What matters now

  1. $38.6M
    principal outstanding

    $38.6M principal held by 3 lenders; matures Jun 2028.

    Q2 2026 · Refinancing is due in 20 months at a 100¢ mark.

    FactBDC schedules of investments, 30 Jun 2026; a sum of the BDCs' pieces, a lower bound
Mark path, consensus per quarter end
Q2 2025: 100¢Q3 2025: 100¢Q4 2025: 100¢Q1 2026: 100¢Q2 2026: 100¢100¢ · 100¢ · 100¢ · 100¢ · 100¢Q2 2025 to Q2 2026
Where each lender marks it on the first lien term loan, 1 point apart
99¢Consensus: 100¢O•••••• S•••••••• L•••••• C•••: 100¢W••••••••• F••••••• I•••: 100¢S••••• P•••• S•••••••• L•••••• F•••: 99¢100¢
Principal held
at least $38.6M
sum of BDC pieces, a lower bound
Fair value
$47.4M
100c on cost, debt pieces
Unfunded
$745,000
commitments not yet drawn
BDC lenders
3
3 on the latest quarter
Facilities
3
2 equity pieces beside them
Next maturity
Jun 7, 2028
$38.6M inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
25
dated, non-routine
Lender marks
each lender's own fair value over cost at Jun 30, 2026, folded to one row per lender
LenderExposureCurrent markQoQ change
O•••••• S•••••••• L•••••• C•••$17M100¢0 pts
W••••••••• F••••••• I•••$11.4M100¢0 pts
S••••• P•••• S•••••••• L•••••• F•••$10.2M99¢0 pts
Every BDC piece · 9 positions across 3 lenderslargest principal first, with instrument and rate
BDCInstrumentPrincipalFair valueRate
O•••••• S•••••••• L•••••• C•••term loan first lien
F•••• L••• T••• L•••
$17.0M$17.0M
100c
S+625 bp
W••••••••• F••••••• I•••term loan first lien
F•••• L••• S•••••• T••• L•••
$11.4M$11.4M
100c
SOFR+625 bp
S••••• P•••• S•••••••• L•••••• F•••term loan first lien
1st L•••/S•••••• L•••• I••••••••• 1st L••• T••• L••• I••••••• S••••••• & Services R••• S+6
$9.7M$9.6M
99c
SOFR+625 bp
W••••••••• F••••••• I•••equity equity
C••••• U••••
$497,000$8.1M
114c
S••••• P•••• S•••••••• L•••••• F•••revolver first lien
1st L•••/S•••••• L•••• I••••••••• 1st L••• R••••••• I••••••• S••••••• & Services R••• S+6.
$425,843Not disclosed
n/a
SOFR+625 bp
View all 9 positionslargest principal first
BDCInstrumentPrincipalFair valueRate
O•••••• S•••••••• L•••••• C•••revolver first lien
F•••• L••• R•••••••
$0$0
0c
S+625 bp
O•••••• S•••••••• L•••••• C•••unstated lien unstatedNot disclosedNot disclosed
O•••••• S•••••••• L•••••• C•••equity equity
C••••• S••••
Not disclosed$1.2M
17c
W••••••••• F••••••• I•••revolver first lien
F•••• L••• S•••••• R•••••••• L•••
Not disclosed$16,000SOFR+625 bp
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
FacilityHeldOn costPricingMaturityBDCs
first lien term loan first lienat least $38.2M100cSOFR+625 bpJun 7, 20283
first lien revolver first lienat least $425,843n/aSOFR+625 bpJun 7, 20283
first lien delayed draw term loan first lien
exited Dec 31, 2022
unknownn/aSOFR+925 bpOct 15, 20251
Equity pieces beside the debt: equity ($9.3M fair value, 2 BDCs), other (Not disclosed fair value, 1 BDC)
Through time
the borrower's pieces summed across BDCs, every quarter end
Quarter endBDCsPrincipal heldFair valueOn costPIK pieces
Jun 30, 20263$38.6M$38.1M100c0
Mar 31, 20263$38.7M$38.2M100c0
Dec 31, 20253$50.2M$49.7M100c2
Sep 30, 20253$38.8M$38.2M100c0
All 17 quarters
Quarter endBDCsPrincipal heldFair valueOn costPIK pieces
Jun 30, 20253$38.8M$38.2M100c0
Mar 31, 20252$50.8M$42.7M94c2
Dec 31, 20242$49.1M$42.2M93c2
Sep 30, 20242$47.6M$43.2M94c2
Jun 30, 20242$45.8M$42.7M94c4
Mar 31, 20242$44.6M$43.4M98c0
Dec 31, 20232$42.5M$41.3M98c0
Sep 30, 20232$42.2M$41.4M99c0
Jun 30, 20232$41.8M$41.1M100c0
Mar 31, 20232$41.9M$41.2M100c0
Dec 31, 20222$36.3M$35.6M100c0
Sep 30, 20222$55.9M$54.9M100c0
Dec 31, 20211$15.6M$15.6M103c0
What changed
Full timeline · 30 events
Every change including routine ones
Identity
Group key
TELESTREAMderivedthe codename stem after legal suffixes and deal words
Spellings
3 across 3 BDCsderived
Industry
Application Softwarereportedas one filer wrote it