DFX Intelligence
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Borrower
B•••••• H••••••• L••
Softwaregroup grade Aon a schedule nowsponsor unattributed
Also written as: B••••••, LLC; First lien; First Lien - Undrawn; LLC - Funded; LLC Sr Secured; Revoler
Principal held
at least $175M
sum of BDC pieces, a lower bound
Fair value
$174M
101c on cost, debt pieces
Unfunded
$10.0M
commitments not yet drawn
BDC lenders
14
11 on the latest quarter
Facilities
5
0 equity pieces beside them
Next maturity
Sep 1, 2029
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
12
dated, non-routine
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| revolver lien unstated | at least $118M | 101c | SOFR+425 bp | Sep 12, 2029 | 4 |
| first lien term loan first lien | at least $57.5M | 101c | SOFR+425 bp | Sep 12, 2029 | 11 |
| first lien revolver first lien | at least $0 | n/a | SOFR+425 bp | Sep 12, 2029 | 4 |
| second lien term loan second lien exited Jun 30, 2023 | at least $47.3M | 100c | S+775 bp | Sep 3, 2027 | 4 |
| other lien unstated exited Sep 30, 2023 | at least $45.5M | 100c | S+725 bp | Sep 12, 2029 | 2 |
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B•••••••• D••••• L•••••• C•••• | term loan first lien I••••••••• F•••• L••• T••• L••• Ref S•••(Q) F•••• 1.00% S••••• 4.25% T•••• C••••• 7.91% M• | $4.1M | $4.1M 102c | SOFR+425 bp |
| B•••••••• D••••• L•••••• C•••• | revolver lien unstated I••••••••• Sr S•••••• R••••••• Ref S•••(Q) F•••• 1.00% S••••• 4.25% T•••• C••••• 7.91% M•• | $0 | $0 0c | SOFR+425 bp |
| B•••••••• P•••••• C••••• F••• | revolver first lien I••••••••• F•••• L••• R••••••• Ref S•••(Q) F•••• 1.00% S••••• 4.25% T•••• C••••• 7.91% M•• | $0 | $-0 0c | SOFR+425 bp |
| B•••••••• P•••••• C••••• F••• | term loan first lien I••••••••• F•••• L••• T••• L••• Ref S•••(Q) F•••• 1.00% S••••• 4.25% T•••• C••••• 7.91% M• | $17.6M | $17.6M 101c | SOFR+425 bp |
| B•••••••• T•• C•••••• C•••• | term loan first lien F•••• L••• T••• L••• Ref S•••(Q) F•••• 1.00% S••••• 4.25% T•••• C••••• 7.91% M••••••• 9/12 | $11.3M | $11.3M 101c | SOFR+425 bp |
| B•••••••• T•• C•••••• C•••• | revolver lien unstated R••••••• Ref S•••(Q) F•••• 1.00% S••••• 4.25% T•••• C••••• 7.91% M••••••• 9/12/2029 | $0 | $-0 0c | SOFR+425 bp |
| B••••••••• P•••••• C••••• F••• | revolver lien unstated R••••••• | n/a | n/a | |
| B••••••••• P•••••• C••••• F••• | revolver lien unstated N••••••••• I••••• | $90.7M | $90.7M 101c | S+425 bp |
| B••••••••• S•••••• L•••••• F••• | revolver lien unstated R••••••• | n/a | n/a | |
| B••••••••• S•••••• L•••••• F••• | revolver lien unstated N••••••••• I••••• | $27.3M | $27.3M 101c | S+425 bp |
| J•••••••• C••••• P••••••• B•• I••• | term loan first lien T••• F•••• L••• T••• L••• R•••••••• R••• and S••••• S + 4.25% M••••••• D••• 9/12/2029 | $2.7M | $2.6M 99c | SOFR+425 bp |
| J•••••••• C••••• P••••••• B•• I••• | revolver first lien Investment T••• F•••• L••• R••••••• | n/a | $-2,000 | |
| J•••••••• C••••• P••••••• B•• I••• | revolver first lien T••• F•••• L••• R••••••• R•••••••• R••• and S••••• S + 4.25% M••••••• D••• 9/12/2029 | $0 | $-2,000 | SOFR+425 bp |
| N•• M••••••• G••••••• I• B••• L••••• | term loan first lien F•••• L••• | $8.1M | $8.1M 100c | S+425 bp |
| N•• M••••••• G••••••• I• B••• L••••• | term loan first lien F•••• L••• - U•••••• | $626,000 | $-3,000 75c | |
| N•• M••••••• G••••••• I• I••••• F•••• L••••• | term loan first lien F•••• L••• - U•••••• | N••••••••• I••••• | $313,000 | $-1,000 50c | |
| N•• M••••••• G••••••• I• I••••• F•••• L••••• | term loan first lien F•••• L••• | N••••••••• I••••• | $3.6M | $3.6M 100c | S+425 bp |
| N•• M••••••• P•••••• C••••• F••• | term loan first lien F•••• L••• U•••••• | N••••••••• I••••• | $327,000 | $-1,000 | |
| N•• M••••••• P•••••• C••••• F••• | term loan first lien F•••• L••• | N••••••••• I••••• | $3.9M | $3.9M 100c | S+425 bp |
| N•• S•• I• I••• | term loan first lien F•••• L••• - U•••••• | N••••••••• I••••• | n/a | $2,000 67c | |
| N•• S•• I• I••• | term loan first lien F•••• lien | N••••••••• I••••• | $4.1M | $4.1M 100c | S+425 bp |
| S••••• C••••• I••••••••• L•• | revolver first lien Investment T••• F•••• L••• R••••••• | n/a | $-1,000 | |
| S••••• C••••• I••••••••• L•• | revolver first lien T••• F•••• L••• R••••••• R•••••••• R••• and S••••• S + 4.25% M••••••• D••• 9/12/2029 | $0 | $-1,000 | SOFR+425 bp |
| S••••• C••••• I••••••••• L•• | term loan first lien T••• F•••• L••• T••• L••• R•••••••• R••• and S••••• S + 4.25% M••••••• D••• 9/12/2029 | $718,000 | $711,000 99c | SOFR+425 bp |
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 | 11 | $175M | $174M | 101c | 0 |
| Mar 31, 2026 | 11 | $175M | $173M | 101c | 0 |
| Dec 31, 2025 | 11 | $184M | $182M | 101c | 0 |
| Sep 30, 2025 | 11 | $176M | $175M | 102c | 0 |
| Jun 30, 2025 | 8 | $132M | $131M | 102c | 0 |
| Mar 31, 2025 | 8 | $133M | $131M | 102c | 0 |
| Dec 31, 2024 | 8 | $239M | $236M | 102c | 0 |
| Sep 30, 2024 | 8 | $107M | $105M | 102c | 0 |
| Jun 30, 2024 | 8 | $107M | $105M | 102c | 0 |
| Mar 31, 2024 | 8 | $107M | $105M | 102c | 0 |
| Dec 31, 2023 | 9 | $118M | $114M | 101c | 0 |
| Sep 30, 2023 | 9 | $107M | $103M | 100c | 0 |
| Jun 30, 2023 | 4 | $48.8M | $48.0M | 100c | 0 |
| Mar 31, 2023 | 4 | $48.8M | $46.6M | 98c | 0 |
| Dec 31, 2022 | 4 | $60.9M | $58.8M | 98c | 0 |
| Sep 30, 2022 | 1 | $19.0M | $18.5M | 97c | 0 |
| Dec 31, 2021 | 1 | $19.5M | $19.5M | 100c | 0 |
What changed
- Spread changed (observed)Dec 31, 2025
- Spread changed (observed)Sep 30, 2025
- New lender joined a facilitySep 30, 2025
- New lender joined a facilitySep 30, 2025
- New lender joined a facilitySep 30, 2025
- Spread changed (observed)Sep 30, 2025
- New lender joined a facilitySep 30, 2025
- New lender joined a facilitySep 30, 2025
- Spread changed (observed)Dec 31, 2024
- Spread changed (observed)Dec 31, 2024
- Spread changed (observed)Dec 31, 2024
- Maturity shortened (observed)Dec 31, 2023
- Maturity shortened (observed)Dec 31, 2023
- Maturity shortened (observed)Dec 31, 2023
- Maturity shortened (observed)Dec 31, 2023
- Maturity shortened (observed)Dec 31, 2023
- Maturity shortened (observed)Dec 31, 2023
- Facility left every BDC scheduleSep 30, 2023
- Spread changed (observed)Sep 30, 2023
- Maturity extended (observed)Sep 30, 2023
- New lender joined a facilitySep 30, 2023
- New lender joined a facilitySep 30, 2023
- New lender joined a facilitySep 30, 2023
- New lender joined a facilitySep 30, 2023
- New lender joined a facilitySep 30, 2023
- New lender joined a facilitySep 30, 2023
- New lender joined a facilitySep 30, 2023
- Facility left every BDC scheduleJun 30, 2023
- Lender left a facilityJun 30, 2023
- New lender joined a facilityDec 31, 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
- BLUEFINderivedthe codename stem after legal suffixes and deal words
- Spellings
- 2 across 14 BDCsderived
- Industry
- Softwarereportedas one filer wrote it