DFX Intelligence
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Borrower
F• A••••••• L••
Financial Servicesgroup grade Aon a schedule nowsponsor unattributed
Also written as: Sonic ACA A•••••• LLC
What matters now
- $24.7Mprincipal outstanding
$24.7M principal held by 3 lenders; matures Jul 2027.
Q1 2026 · Refinancing is due in 10 months at a 101¢ mark.
FactBDC schedules of investments, 31 Mar 2026; a sum of the BDCs' pieces, a lower bound
Mark path, consensus per quarter end
102¢ · 102¢ · 101¢ · 101¢ · 101¢Q1 2025 to Q1 2026
Where each lender marks it on the first lien term loan, 0 points apart
101¢101¢
Principal held
at least $24.7M
sum of BDC pieces, a lower bound
Fair value
$24.7M
101c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
3
3 on the latest quarter
Facilities
1
0 equity pieces beside them
Next maturity
Jul 31, 2027
$24.7M inside 24 months
On the tape since
Sep 30, 2024
latest Mar 31, 2026
Events
2
dated, non-routine
Lender marks
each lender's own fair value over cost at Mar 31, 2026, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| S•• I••••••••• C•••• | $20.9M | 101¢ | 0 pts |
| S•• H• B•• L•• | $2.41M | 101¢ | 0 pts |
| S•• P•••••• C••••• B•• I• L•• | $1.44M | 101¢ | 0 pts |
Every BDC piece · 3 positions across 3 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| S•• I••••••••• C•••• | term loan first lien | F•••• L••• B••• D•••/S••••• S•••••• L•••• | 7/2024 | 7/2027 | $20.9M | $20.9M 101c | SOFR+650 bp |
| S•• H• B•• L•• | term loan first lien B••• D•••/S••••• S•••••• L•••• | 7/2024 | 7/2027 | $2.4M | $2.4M 101c | SOFR+650 bp |
| S•• P•••••• C••••• B•• I• L•• | term loan first lien B••• D•••/S••••• S•••••• L•••• — 242.8% | 7/2024 | 7/2027 | $1.4M | $1.4M 101c | S+650 bp |
Capital structure as the BDCs see it
latest quarter end Mar 31, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Mar 31, 2026 | at least $24.7M | 101c | SOFR+650 bp | Jul 31, 2027 | 3 |
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Mar 31, 2026 | 3 | $24.7M | $24.7M | 101c | 0 |
| Dec 31, 2025 | 3 | $24.7M | $24.7M | 101c | 0 |
| Sep 30, 2025 | 3 | $24.7M | $24.7M | 101c | 0 |
| Jun 30, 2025 | 3 | $24.7M | $24.7M | 102c | 0 |
All 7 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Mar 31, 2025 | 3 | $24.7M | $24.7M | 102c | 0 |
| Dec 31, 2024 | 3 | $49.5M | $49.5M | 102c | 0 |
| Sep 30, 2024 | 3 | $20.1M | $19.7M | 100c | 0 |
What changed
- Facility left every BDC scheduleMar 31, 2026
- New borrower on a BDC scheduleSep 30, 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
- F• A••••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 3 BDCsderived
- Industry
- Financial Servicesreportedas one filer wrote it