DFX Intelligence
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Borrower
S•••• S•••••• T••••••••• S••••••••• L••
Government Servicesgroup grade Aon a schedule nowsponsor unattributed
Also written as: 07; 11; 2024; 2025; 25; 31; LLC - Funded; LLC - Unfunded
Principal held
at least $96.7M
sum of BDC pieces, a lower bound
Fair value
$90.1M
101c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
3
3 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
Oct 31, 2030
no dated debt inside 24 months
On the tape since
Dec 31, 2024
latest Jun 30, 2026
Events
4
dated, non-routine
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 $90.1M | 101c | SOFR+600 bp | Oct 31, 2030 | 3 |
| first lien revolver first lien | at least $6.7M | n/a | SOFR+600 bp | Oct 31, 2030 | 3 |
Lenders
every BDC piece at the latest quarter end, largest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| P••••••••• F••••••• R••• C•••••• L••• | term loan first lien F•••• L••• S•••••• D••• A••••••••• 10/31/2024 M••••••• 10/31/2030 I••••••• G••••••••• Serv | $38.9M | $38.9M 101c | SOFR+600 bp |
| P••••••••• I••••••••• C••• | term loan first lien F•••• L••• S•••••• D••• A••••••••• 01/07/25 M••••••• 10/31/30 I••••••• B••••••• Services C | $22.1M | $22.1M 100c | SOFR+600 bp |
| P••••••••• F••••••• R••• C•••••• L••• | term loan first lien F•••• L••• S•••••• D••• A••••••••• 11/11/2024 M••••••• 10/31/2030 I••••••• G••••••••• Serv | $17.4M | $17.4M 100c | SOFR+600 bp |
| P••••••••• F••••••• R••• C•••••• L••• | term loan first lien F•••• L••• S•••••• D••• A••••••••• 1/31/2025 M••••••• 10/31/2030 I••••••• IT Services C••• | $9.0M | $9.0M 100c | //www.pennantpark.com/20260630#Secured Overnight Financing Rate+600 bp |
| P••••••••• F••••••• R••• C•••••• L••• | revolver first lien F•••• L••• S•••••• D••• R••••••• A••••••••• 10/31/2024 M••••••• 10/31/2030 I••••••• G••••• | $5.0M | $0 | S+600 bp |
View all 8 positions across 3 lendersShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| S•••••••• P•••••• C••••• F••• L•• | term loan first lien T••• L••• | N••• D••• Inv. | F•••• L••• S••••• S•••••• L••• | 10/31/2030 | $2.8M | $2.7M 100c | SOFR+600 bp |
| P••••••••• I••••••••• C••• | revolver first lien F•••• L••• S•••••• D••• R••••••• A••••••••• 10/31/2024 M••••••• 10/31/2030 I••••••• G••••• | $1.7M | $0 | S+600 bp |
| S•••••••• P•••••• C••••• F••• L•• | revolver first lien R•••••••• L••• | N••• D••• Inv. | F•••• L••• S••••• S•••••• L••• | 10/31/2030 | $0 | $-2,000 100c | SOFR+50 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 | 3 | $96.7M | $90.1M | 101c | 0 |
| Mar 31, 2026 | 3 | $97.0M | $90.6M | 101c | 0 |
| Dec 31, 2025 | 3 | $100M | $93.3M | 101c | 0 |
| Sep 30, 2025 | 2 | $122M | $110M | 101c | 0 |
All 7 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 2 | $49.6M | $44.6M | 101c | 0 |
| Mar 31, 2025 | 2 | $49.7M | $44.7M | 101c | 0 |
| Dec 31, 2024 | 2 | $49.8M | $44.4M | 100c | 0 |
What changed
- Spread changed (observed)Jun 30, 2026
- Spread changed (observed)Mar 31, 2026
- Spread increasedMar 31, 2026
- Spread changed (observed)Dec 31, 2025
- New lender joined a facilityDec 31, 2025
Full timeline · 7 eventsShow fewer
- New lender joined a facilityDec 31, 2025
- New borrower on a BDC scheduleDec 31, 2024
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- S•••• S•••••• T••••••••• S••••••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 3 BDCsderived
- Industry
- Government Servicesreportedas one filer wrote it