DFX Intelligence
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Borrower
T•••••• c•••••••• • d••••••••• A••••••••• L•
group grade Aoff every schedule since Jun 30, 2025sponsor unattributed
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
103¢ · 103¢Q4 2024 to Q2 2025
Where each lender marks it on the first lien term loan, 0 points apart
103¢103¢
Principal held
at least $31.1M
sum of BDC pieces, a lower bound
Fair value
$31.4M
103c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
May 10, 2029
no dated debt inside 24 months
On the tape since
Dec 31, 2024
latest Jun 30, 2025
Events
2
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 |
|---|---|---|---|
| K•••• A••••••• B••• I••• | $26M | 103¢ | new this quarter |
| K•••• D• 2•••• I••• | $5.08M | 103¢ | 0 pts |
Every BDC piece · 4 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| K•••• A••••••• B••• I••• | term loan first lien F•••• lien senior secured loan-SOFR(Q) | $26.0M | $26.3M 103c | S+650 bp |
| K•••• D• 2•••• I••• | term loan first lien F•••• lien senior secured loan-SOFR(Q) | $5.1M | $5.1M 103c | S+650 bp |
| K•••• A••••••• B••• I••• | delayed draw term loan first lien F•••• lien senior secured delayed draw loan-SOFR(Q) | Not disclosed | Not disclosed | S+650 bp |
| K•••• D• 2•••• I••• | delayed draw term loan first lien F•••• lien senior secured delayed draw loan-SOFR(Q) | Not disclosed | Not disclosed | S+650 bp |
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 $31.1M | 103c | S+650 bp | May 10, 2029 | 2 |
| first lien delayed draw term loan first lien exited Jun 30, 2025 | unknown | n/a | S+650 bp | May 10, 2029 | 2 |
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 | 2 | $31.1M | $31.4M | 103c | 0 |
| Dec 31, 2024 | 1 | $5.1M | $5.2M | 103c | 0 |
What changed
- Facility left every BDC scheduleJun 30, 2025
- New lender joined a facilityJun 30, 2025
- New lender joined a facilityJun 30, 2025
- Facility left every BDC scheduleJun 30, 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
- TRADING COMPANIES AND DISTRIBUTORS ENERGYderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived