DFX Intelligence
Private Credit Intelligence
The capital structure graph behind private markets. Who lent, to whom, under which sponsor, through which facility, how large the piece was, when it matures and what changed, with a filing behind every number. A BDC piece is that BDC's piece, a sum of pieces is a lower bound, and a sponsor is named with the evidence that names it.
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Borrower
Z•• H•••••••• I••
group grade Con a schedule nowsponsor unattributed
Principal held
at least $2.0M
sum of BDC pieces, a lower bound
Fair value
$2.0M
100c on cost, debt pieces
Unfunded
n/a
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
2
2 equity pieces beside them
Next maturity
Feb 12, 2027
$2.0M inside 24 months
On the tape since
Dec 31, 2022
latest Jun 30, 2026
Events
9
dated, non-routine
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| unsecured or subordinated subordinated debt unsecured or subordinated | at least $2.0M | 100c | 14.00% PIK 10.00% | Feb 12, 2027 | 1 |
| first lien term loan first lien exited Jun 30, 2023 | unknown | 98c | S+645 bp | May 15, 2026 | 1 |
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| L•••••••• S••••• U••• I••• | subordinated debt unsecured or subordinated Subordinated debt | $2.0M | $2.0M 100c | 14.00% PIK 10.00% |
| L•••••••• S••••• U••• I••• | warrants equity Warrants | n/a | $0 |
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 | 1 | $2.0M | $2.0M | 100c | 1 |
| Mar 31, 2026 | 1 | $1.9M | $1.9M | 100c | 1 |
| Dec 31, 2025 | 1 | $1.9M | $1.9M | 100c | 1 |
| Sep 30, 2025 | 1 | $1.8M | $1.8M | 100c | 1 |
| Jun 30, 2025 | 1 | $0 | $1.8M | 100c | 1 |
| Mar 31, 2025 | 1 | $0 | $1.7M | 99c | 1 |
| Dec 31, 2024 | 1 | $3.5M | $3.4M | 99c | 2 |
| Sep 30, 2024 | 1 | $0 | $1.7M | 97c | 1 |
| Jun 30, 2024 | 1 | $0 | $1.9M | 96c | 1 |
| Mar 31, 2024 | 1 | $0 | $1.8M | 95c | 1 |
| Dec 31, 2023 | 1 | $0 | $1.8M | 94c | 1 |
| Sep 30, 2023 | 1 | $0 | $1.7M | 92c | 1 |
| Jun 30, 2023 | 1 | $0 | $15.4M | 98c | 0 |
| Mar 31, 2023 | 1 | $0 | $14.8M | 97c | 0 |
| Dec 31, 2022 | 1 | $0 | $16.3M | 97c | 2 |
What changed
- Maturity approachingFeb 12, 2027
- Maturity approachingFeb 12, 2027
- Maturity approachingFeb 12, 2027
- PIK interest increasedMar 31, 2024
- PIK interest increasedMar 31, 2024
- PIK interest appearsSep 30, 2023
- PIK interest appearsSep 30, 2023
- Spread changed (observed)Sep 30, 2023
- Spread changed (observed)Jun 30, 2023
- Facility left every BDC scheduleJun 30, 2023
- Spread increasedMar 31, 2023
- Spread changed (observed)Mar 31, 2023
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- ZWR HOLDINGSderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived