DFX Intelligence
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Borrower
A••• L•••••• R•••••••••
L•••••• Productsgroup grade Aoff every schedule since Dec 31, 2025sponsor unattributed
Nothing material in the last 200 days. Last change: 31 Dec 2025, Non-accrual at 1 of 1 lender on the latest schedules.
Mark path, consensus per quarter end
91¢ · 93¢ · 94¢ · 70¢Q4 2024 to Q4 2025
Principal held
at least $25.6M
sum of BDC pieces, a lower bound
Fair value
$17.7M
71c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
1
1 equity pieces beside them
Next maturity
Dec 31, 2028
no dated debt inside 24 months
On the tape since
Dec 31, 2024
latest Dec 31, 2025
Events
2
dated, non-routine
Lender marks
each lender's own fair value over cost at Dec 31, 2025, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| M••••••• B••• I••• | $25.6M | 70¢ | -24 pts |
Every BDC piece · 5 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| M••••••• B••• I••• | term loan first lien S••••• S•••••• L••• T••• L••• B-1 | $24.7M | $17.3M 70c | 10.00% PIK 10.00% |
| M••••••• B••• I••• | preferred equity equity P•••••••• S•••• P•••••••• S•••• | $2.1M | Not disclosed n/a | 8.00% |
| M••••••• B••• I••• | term loan first lien S••••• S•••••• L••• T••• L••• B-2 | $968,750 | $393,494 114c | 10.00% |
| M••••••• B••• I••• | preferred equity equity P•••••••• S•••• P•••••••• S•••• 2 | $156,250 | Not disclosed n/a | 8.00% |
| M••••••• B••• I••• | preferred equity equity P•••••••• S•••• P•••••••• S•••• 2 | $156,250 | Not disclosed n/a | 8.00% |
Capital structure as the BDCs see it
latest quarter end Dec 31, 2025
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Dec 31, 2025 | at least $25.6M | 71c | 10.00% PIK 10.00% | Dec 31, 2028 | 1 |
Equity pieces beside the debt: preferred equity (Not disclosed fair value, 1 BDC)
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Dec 31, 2025 | 1 | $25.6M | $17.7M | 71c | 1 |
| Sep 30, 2025 | 1 | $25.6M | $23.5M | 94c | 1 |
| Jun 30, 2025 | 1 | $25.0M | $22.5M | 93c | 1 |
| Dec 31, 2024 | 1 | $22.9M | $20.6M | 91c | 1 |
What changed
- Facility left every BDC scheduleDec 31, 2025
- Marked down across lendersDec 31, 2025
- Marked down (one lender)Dec 31, 2025
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- A••• L•••••• R•••••••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived
- Industry
- L•••••• Productsreportedas one filer wrote it