DFX Intelligence
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Borrower
R••••• C••••••••• I••
Environmental & Facilities Servicesgroup grade Aon a schedule nowsponsor unattributed
What matters now
- $41.2Mprincipal outstanding
$41.2M principal held by 2 lenders; matures Dec 2026.
Q2 2026 · Refinancing is due in 3 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
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¢100¢
Principal held
at least $41.2M
sum of BDC pieces, a lower bound
Fair value
$41.2M
100c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
2
1 equity pieces beside them
Next maturity
Dec 20, 2026
$3.1M inside 24 months
On the tape since
Dec 31, 2022
latest Jun 30, 2026
Events
4
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 |
|---|---|---|---|
| L•••••••• S••••• U••• I••• | $37.6M | 100¢ | 0 pts |
| S•••••••• P•••••• C••••• F••• L•• | $3.58M | 100¢ | +2 pts |
Every BDC piece · 5 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| L•••••••• S••••• U••• I••• | term loan first lien F•••• lien senior secured loan 3 | $27.8M | $27.8M 99c | S+550 bp |
| L•••••••• S••••• U••• I••• | term loan first lien F•••• lien senior secured loan 1 | $5.3M | $5.3M 100c | S+550 bp |
| L•••••••• S••••• U••• I••• | term loan first lien F•••• lien senior secured loan 2 | $4.5M | $4.5M 101c | S+550 bp |
| S•••••••• P•••••• C••••• F••• L•• | term loan first lien T••• L••• | N••• D••• Inv. | F•••• L••• S••••• S•••••• L••• | 12/20/2026 | $3.1M | $3.1M 99c | SOFR+575 bp |
| S•••••••• P•••••• C••••• F••• L•• | delayed draw term loan first lien D•••••• D••• T••• L••• (2025) | N••• D••• Inv. | F•••• L••• S••••• S•••••• L••• | 01/31/20 | $487,000 | $487,000 100c | SOFR+575 bp |
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 $40.7M | 100c | SOFR+550 bp | Jan 31, 2031 | 2 |
| first lien delayed draw term loan first lien | at least $487,000 | 100c | SOFR+575 bp | Jan 31, 2031 | 1 |
Equity pieces beside the debt: other ($3.1M 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 | 2 | $41.2M | $41.2M | 100c | 0 |
| Mar 31, 2026 | 2 | $30.3M | $30.1M | 100c | 0 |
| Dec 31, 2025 | 2 | $36.1M | $36.0M | 100c | 0 |
| Sep 30, 2025 | 2 | $38.3M | $38.3M | 100c | 0 |
All 15 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 2 | $3.6M | $34.8M | 100c | 0 |
| Mar 31, 2025 | 2 | $3.1M | $23.4M | 101c | 0 |
| Dec 31, 2024 | 2 | $50.0M | $50.0M | 101c | 0 |
| Sep 30, 2024 | 2 | $3.2M | $23.5M | 101c | 0 |
| Jun 30, 2024 | 2 | $3.2M | $23.5M | 101c | 0 |
| Mar 31, 2024 | 2 | $3.2M | $23.5M | 100c | 0 |
| Dec 31, 2023 | 2 | $6.4M | $9.4M | 100c | 0 |
| Sep 30, 2023 | 1 | $0 | $3.1M | 100c | 0 |
| Jun 30, 2023 | 1 | $0 | $3.1M | 100c | 0 |
| Mar 31, 2023 | 1 | $0 | $3.2M | 100c | 0 |
| Dec 31, 2022 | 1 | $0 | $6.3M | 100c | 0 |
What changed
- Maturity shortened (observed)Mar 31, 2026
- Maturity extended (observed)Dec 31, 2025
- Maturity extended (observed)Mar 31, 2025
- Maturity extended (observed)Mar 31, 2025
- Spread changed (observed)Mar 31, 2025
Full timeline · 9 eventsShow fewer
- Maturity extended (observed)Mar 31, 2024
- Maturity extended (observed)Mar 31, 2024
- New lender joined a facilityDec 31, 2023
- New borrower on a BDC scheduleDec 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
- R••••• C•••••••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived
- Industry
- Environmental & Facilities Servicesreportedas one filer wrote it