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
F••••• L••
Softwaregroup grade Bon a schedule nowsponsor unattributed
What matters now
- 86¢ → 72¢consensus mark
Consensus mark 72¢ on cost, down from 86¢ in Q4 2025.
Q1 2026 · The lenders' own valuations, the most direct read of what they expect to recover.
Derived1 of 1 lender' own marks, weighted by principal - $11.6Mprincipal outstanding
$11.6M principal held by 1 lender; matures May 2029.
Q1 2026 · Refinancing is due in 32 months at a 72¢ mark.
FactBDC schedules of investments, 31 Mar 2026; a sum of the BDCs' pieces, a lower bound - 86¢ → 72¢-14 pts, one lender
O••••• S••••• C•••••• C•••• marked it 86¢ → 72¢, the largest move among 1 lender this quarter.
Q1 2026 · One holder repriced far more than the rest.
Mark path, consensus per quarter end
86¢ · 72¢Q4 2025 to Q1 2026
Principal held
at least $11.6M
sum of BDC pieces, a lower bound
Fair value
$7.1M
72c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
May 21, 2029
no dated debt inside 24 months
On the tape since
Dec 31, 2025
latest Mar 31, 2026
Events
6
dated, non-routine
Lender marks
each lender's own fair value over cost at Mar 31, 2026, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| O••••• S••••• C•••••• C•••• | $11.6M | 72¢ | -14 pts |
Every BDC piece · 2 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| O••••• S••••• C•••••• C•••• | term loan second lien S••••• S•••••• N•••• second lien senior secured notes | $8.3M | $4.3M 64c | 3.76% PIK 9.00% |
| O••••• S••••• C•••••• C•••• | term loan first lien S••••• S•••••• N•••• first lien senior secured notes | $3.2M | $2.8M 90c | S+600 bp |
Capital structure as the BDCs see it
latest quarter end Mar 31, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| second lien term loan second lien exited Mar 31, 2026 | at least $8.3M | 64c | 3.76% PIK 9.00% | May 21, 2029 | 1 |
| first lien term loan first lien exited Mar 31, 2026 | at least $3.2M | 90c | S+600 bp | May 21, 2029 | 1 |
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Mar 31, 2026 | 1 | $11.6M | $7.1M | 72c | 1 |
| Dec 31, 2025 | 1 | $11.4M | $8.2M | 86c | 0 |
What changed
- Facility left every BDC scheduleMar 31, 2026
- PIK interest appearsMar 31, 2026
- Marked down across lendersMar 31, 2026
- Marked down across lendersMar 31, 2026
- Facility left every BDC scheduleMar 31, 2026
Full timeline · 9 eventsShow fewer
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- PIK interest appearsMar 31, 2026
- New borrower on a BDC scheduleDec 31, 2025
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- FORTAderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived
- Industry
- Softwarereportedas one filer wrote it