DFX Intelligence
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Borrower
M•• I••••••••• S•••••••• I••
group grade Aoff every schedule since Jun 30, 2025sponsor unattributed
Nothing material in the last 200 days. Last change: 30 Jun 2025, Non-accrual at 1 of 1 lender on the latest schedules.
Mark path, consensus per quarter end
87¢ · 92¢ · 92¢ · 88¢ · 83¢Q2 2024 to Q2 2025
Principal held
at least $10.5M
sum of BDC pieces, a lower bound
Fair value
$8.0M
83c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
Apr 24, 2026
$10.5M inside 24 months
On the tape since
Sep 30, 2022
latest Jun 30, 2025
Events
16
dated, non-routine
Lender marks
each lender's own fair value over cost at Jun 30, 2025, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| W••••••••• F••••••• I••• | $10.5M | 83¢ | -5 pts |
Every BDC piece · 2 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| W••••••••• F••••••• I••• | term loan first lien F•••• L••• S•••••• T••• L••• | $9.5M | $7.2M 84c | SOFR+975 bp PIK 14.20% |
| W••••••••• F••••••• I••• | revolver first lien F•••• L••• S•••••• R•••••••• L••• | $1.1M | $795,000 76c | //fasb.org/us-gaap/2024#Base Rate+882 bp PIK 16.10% |
Capital structure as the BDCs see it
latest quarter end Jun 30, 2025
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Jun 30, 2025 | at least $9.5M | 84c | SOFR+975 bp PIK 14.20% | Apr 24, 2026 | 1 |
| first lien revolver first lien exited Jun 30, 2025 | at least $1.1M | 76c | //fasb.org/us-gaap/2024#Base Rate+882 bp PIK 16.10% | Apr 24, 2026 | 1 |
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, 2025 | 1 | $10.5M | $8.0M | 83c | 2 |
| Mar 31, 2025 | 1 | $10.1M | $8.4M | 88c | 2 |
| Dec 31, 2024 | 1 | $19.6M | $17.6M | 92c | 4 |
| Sep 30, 2024 | 1 | $9.4M | $8.5M | 92c | 0 |
All 12 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2024 | 1 | $8.2M | $7.1M | 87c | 0 |
| Mar 31, 2024 | 1 | $8.2M | $7.5M | 93c | 0 |
| Dec 31, 2023 | 1 | $16.3M | $15.5M | 96c | 0 |
| Sep 30, 2023 | 1 | $8.3M | $7.8M | 96c | 0 |
| Jun 30, 2023 | 1 | $7.9M | $7.5M | 96c | 0 |
| Mar 31, 2023 | 1 | $8.0M | $7.8M | 99c | 0 |
| Dec 31, 2022 | 1 | $7.8M | $7.5M | 99c | 0 |
| Sep 30, 2022 | 1 | $8.2M | $7.9M | 99c | 0 |
What changed
- Facility left every BDC scheduleJun 30, 2025
- Facility left every BDC scheduleJun 30, 2025
- Marked down across lendersJun 30, 2025
- Marked down (one lender)Jun 30, 2025
- Marked down across lendersMar 31, 2025
Full timeline · 26 eventsShow fewer
- Marked down (one lender)Mar 31, 2025
- PIK interest appearsDec 31, 2024
- PIK interest appearsDec 31, 2024
- PIK interest appearsDec 31, 2024
- PIK interest appearsDec 31, 2024
- Spread changed (observed)Sep 30, 2024
- Spread changed (observed)Sep 30, 2024
- Mark recoveredSep 30, 2024
- Spread increasedSep 30, 2024
- Spread increasedSep 30, 2024
- Marked down across lendersJun 30, 2024
- Marked down across lendersJun 30, 2024
- Marked down (one lender)Jun 30, 2024
- Marked down (one lender)Jun 30, 2024
- Mark recoveredSep 30, 2023
- Marked down across lendersJun 30, 2023
- Marked down (one lender)Jun 30, 2023
- Spread changed (observed)Mar 31, 2023
- Spread increasedDec 31, 2022
- Spread changed (observed)Dec 31, 2022
- New borrower on a BDC scheduleSep 30, 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
- M•• I••••••••• S•••••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived