DFX Intelligence
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Borrower
M•••••• L•••• H•••••••• I••
Also written as: Inc - M•••••• L••••, Inc; Inc - Marketing Orchestration Software - Total Marketing Orchestration; Inc. - Marketing Orchestration; Inc. Instument; Inc. Sr Secured; M•••••• L••••
Principal held
at least $48.7M
sum of BDC pieces, a lower bound
Fair value
$41.5M
88c on cost, debt pieces
Unfunded
$635,000
commitments not yet drawn
BDC lenders
8
6 on the latest quarter
Facilities
4
2 equity pieces beside them
Next maturity
Dec 30, 2027
$635,000 inside 24 months
On the tape since
Dec 31, 2021
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 |
|---|---|---|---|---|---|
| first lien term loan first lien | at least $38.7M | 87c | SOFR+700 bp PIK 2.37% | Dec 30, 2028 | 6 |
| term loan lien unstated | at least $9.4M | 91c | SOFR+700 bp PIK 10.64% | Dec 30, 2028 | 2 |
| first lien revolver first lien | at least $635,000 | n/a | SOFR+700 bp PIK 2.37% | Dec 30, 2027 | 3 |
| revolver lien unstated | at least $0 | n/a | SOFR+700 bp | Dec 30, 2027 | 4 |
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B•••••••• D••••• L•••••• C•••• | revolver lien unstated I••••••••• Sr S•••••• R••••••• Ref S•••(M) F•••• 1.00% S••••• 7.50% T•••• C••••• 11.17% M• | $0 | $-13,311 3353c | SOFR+700 bp |
| B•••••••• D••••• L•••••• C•••• | term loan first lien I••••••••• F•••• L••• T••• L••• Ref S•••(M) F•••• 1.00% S••••• 7.50% T•••• C••••• 10.17% M | $2.2M | $1.9M 85c | SOFR+700 bp |
| B•••••••• P•••••• C••••• F••• | revolver first lien I••••••••• F•••• L••• R••••••• Ref S•••(M) F•••• 1.00% S••••• 7.00% T•••• C••••• 10.64% M• | $0 | $-13,815 17942c | SOFR+700 bp |
| B•••••••• P•••••• C••••• F••• | term loan first lien I••••••••• F•••• L••• T••• L••• Ref S•••(M) F•••• 1.00% S••••• 7.00% T•••• C••••• 10.64% M | $2.3M | $1.9M 85c | SOFR+700 bp |
| B•••••••• T•• C•••••• C•••• | revolver lien unstated R••••••• Ref S•••(M) F•••• 1.00% S••••• 7.00% T•••• C••••• 10.64% M••••••• 12/30/2027 | $0 | $-121,124 3016c | SOFR+700 bp |
| B•••••••• T•• C•••••• C•••• | term loan first lien F•••• L••• T••• L••• Ref S•••(M) F•••• 1.00% S••••• 7.00% T•••• C••••• 10.64% M••••••• 12/ | $20.1M | $16.8M 86c | SOFR+700 bp |
| M••••• C•••••• I••••• P••• C••• | revolver first lien R•••••••) | n/a | n/a | |
| M••••• C•••••• I••••• P••• C••• | revolver first lien R•••••••) | S••••• S•••••• L•••• | $635,000 | $0 | S+750 bp PIK 2.37% |
| M••••• C•••••• I••••• P••• C••• | term loan first lien S••••• S•••••• L•••• | $14.1M | $12.4M 90c | S+750 bp PIK 2.37% |
| S•••••• C•••••• I••••••••• C••• | term loan lien unstated T••• L••• | $4.6M | $4.1M 91c | //stelluscapital.com/20260630#One Month Term Secured Overnight Financing Rate+700 bp PIK 10.64% |
| S•••••• C•••••• I••••••••• C••• | unstated lien unstated Inc.BC Partners G•••••••• C••••••••• LP C•••• 1 I•••••••• | n/a | $66,310 16c | |
| S•••••• P•••••• C••••• B•• | term loan lien unstated T••• L••• (P••• SPV) | $1.9M | $1.7M 91c | SOFR+700 bp |
| S•••••• P•••••• C••••• B•• | term loan lien unstated T••• L••• | $2.9M | $2.6M 91c | SOFR+700 bp |
| S•••••• P•••••• C••••• B•• | unstated lien unstated BC Partners G•••••••• C••••••••• LP C•••• 1 I•••••••• | n/a | $77,495 16c |
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 | 6 | $48.7M | $41.3M | 88c | 3 |
| May 31, 2026 | 1 | $19.2M | $16.2M | 85c | 0 |
| Mar 31, 2026 | 6 | $48.5M | $41.7M | 89c | 5 |
| Feb 28, 2026 | 1 | $19.1M | $16.8M | 89c | 0 |
| Dec 31, 2025 | 6 | $53.8M | $46.4M | 89c | 10 |
| Nov 30, 2025 | 1 | $19.0M | $17.9M | 95c | 0 |
| Sep 30, 2025 | 6 | $48.3M | $44.7M | 96c | 11 |
| Aug 31, 2025 | 1 | $19.0M | $18.3M | 97c | 0 |
| Jun 30, 2025 | 6 | $48.6M | $45.2M | 97c | 11 |
| May 31, 2025 | 1 | $18.9M | $18.5M | 99c | 0 |
| Mar 31, 2025 | 6 | $48.0M | $45.4M | 99c | 8 |
| Feb 28, 2025 | 1 | $18.8M | $18.4M | 99c | 0 |
| Dec 31, 2024 | 6 | $76.5M | $72.7M | 99c | 17 |
| Nov 30, 2024 | 1 | $18.8M | $18.4M | 99c | 0 |
| Sep 30, 2024 | 6 | $48.7M | $46.8M | 101c | 0 |
| Jun 30, 2024 | 6 | $48.7M | $46.5M | 101c | 0 |
| Mar 31, 2024 | 6 | $44.3M | $46.3M | 100c | 0 |
| Feb 29, 2024 | 1 | $37.7M | $36.8M | 99c | 0 |
| Dec 31, 2023 | 7 | $83.9M | $79.0M | 101c | 0 |
| Sep 30, 2023 | 7 | $48.6M | $46.9M | 102c | 0 |
| Jun 30, 2023 | 7 | $48.8M | $46.8M | 106c | 0 |
| Mar 31, 2023 | 7 | $48.9M | $46.6M | 105c | 0 |
| Dec 31, 2022 | 7 | $83.4M | $78.5M | 100c | 0 |
| Sep 30, 2022 | 1 | $10.6M | $0 | n/a | 0 |
| Dec 31, 2021 | 1 | $3.8M | $10.6M | 100c | 0 |
What changed
- Maturity approachingDec 30, 2027
- Maturity approachingDec 30, 2027
- New lender joined a facilityMay 31, 2026
- Marked down (one lender)Feb 28, 2026
- Marked down across lendersDec 31, 2025
- Marked down (one lender)Dec 31, 2025
- Marked down (one lender)Dec 31, 2025
- Marked down (one lender)Dec 31, 2025
- Marked down (one lender)Dec 31, 2025
- Marked down (one lender)Dec 31, 2025
- PIK interest increasedDec 31, 2025
- Marked down (one lender)Jun 30, 2025
- PIK interest increasedJun 30, 2025
- PIK interest increasedJun 30, 2025
- PIK interest increasedJun 30, 2025
- PIK interest increasedMar 31, 2025
- PIK interest appearsDec 31, 2024
- PIK interest appearsDec 31, 2024
- PIK interest appearsDec 31, 2024
- PIK interest appearsDec 31, 2024
- PIK interest appearsDec 31, 2024
- PIK interest appearsDec 31, 2024
- PIK interest appearsDec 31, 2024
- PIK interest appearsDec 31, 2024
- PIK interest appearsDec 31, 2024
- PIK interest appearsDec 31, 2024
- PIK interest appearsDec 31, 2024
- PIK interest appearsDec 31, 2024
- Lender left a facilitySep 30, 2024
- New lender joined a facilitySep 30, 2024
Sponsor
- C•••••• C•••••• P•••••••• L••
- the sponsor's own portfolio page lists a company of this nameestimatedclarion-capital.com"••• Locked"
Identity
- Group key
- MADISON LOGICderivedthe codename stem after legal suffixes and deal words
- Spellings
- 2 across 8 BDCsderived
- Industry
- IT Servicesreportedas one filer wrote it