DFX Intelligence
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Borrower
S••••••• C•••••• H•••••
Education)group grade Aon a schedule nowsponsor unattributed
Also written as: C••••••; LLC (dba C••••••
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
100¢ · 100¢ · 100¢ · 100¢ · 100¢Q2 2025 to Q2 2026
Where each lender marks it, 0 points apart
100¢100¢
Principal held
at least $382M
sum of BDC pieces, a lower bound
Fair value
$349M
100c on cost, debt pieces
Unfunded
$32.0M
commitments not yet drawn
BDC lenders
5
4 on the latest quarter
Facilities
4
0 equity pieces beside them
Next maturity
May 1, 2030
no dated debt inside 24 months
On the tape since
Sep 30, 2022
latest Jun 30, 2026
Events
8
dated, non-routine
Lender marks
each lender's own fair value over cost at Jun 30, 2026, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| B••••••••• P•••••• C••••• F••• | $248M | 100¢ | 0 pts |
| G•••••• S•••• P•••••• C••••• C•••• | $98.7M | 100¢ | 0 pts |
| G•••••• S•••• B••• I••• | $17.4M | 100¢ | 0 pts |
| P•••••• S••••• B•• L•• | $17.4M | 100¢ | 0 pts |
Every BDC piece · 15 positions across 4 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••••••••• P•••••• C••••• F••• | revolver lien unstated N••••••••• I••••• | $197M | $195M 100c | S+500 bp |
| G•••••• S•••• P•••••• C••••• C•••• | term loan first lien 1st L•••/S••••• S•••••• D••• I••••••• D••••••••• C••••••• Services I••••••• R••• 8.67% R•• | $59.1M | $58.5M 100c | SOFR+500 bp |
| B••••••••• P•••••• C••••• F••• | revolver lien unstated N••••••••• I••••• | $51.6M | $50.8M 99c | S+500 bp |
| G•••••• S•••• P•••••• C••••• C•••• | term loan first lien 1st L•••/S••••• S•••••• D••• I••••••• D••••••••• C••••••• Services I••••••• R••• 8.69% R•• | $15.6M | $15.4M 100c | SOFR+500 bp |
| G•••••• S•••• P•••••• C••••• C•••• | term loan first lien 1st L•••/S••••• S•••••• D••• I••••••• D••••••••• C••••••• Services I••••••• R••• 8.68% R•• | $14.9M | $3.0M 98c | SOFR+500 bp |
View all 15 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| G•••••• S•••• B••• I••• | term loan first lien 1st L•••/S••••• S•••••• D••• I••••••• D••••••••• C••••••• Services I••••••• R••• 8.67% R•• | $10.4M | $10.3M 100c | SOFR+500 bp |
| P•••••• S••••• B•• L•• | term loan first lien 1st L•••/S••••• S•••••• D••• I••••••• D••••••••• C••••••• Services I••••••• R••• 8.67% R•• | $10.4M | $10.3M 100c | SOFR+500 bp |
| G•••••• S•••• P•••••• C••••• C•••• | term loan first lien 1st L•••/S••••• S•••••• D••• I••••••• D••••••••• C••••••• Services R•••••••• R••• and S••• | $9.2M | $-92,000 148c | SOFR+500 bp |
| G•••••• S•••• B••• I••• | term loan first lien 1st L•••/S••••• S•••••• D••• I••••••• D••••••••• C••••••• Services I••••••• R••• 8.69% R•• | $2.7M | $2.7M 100c | SOFR+500 bp |
| P•••••• S••••• B•• L•• | term loan first lien 1st L•••/S••••• S•••••• D••• I••••••• D••••••••• C••••••• Services I••••••• R••• 8.69% R•• | $2.7M | $2.7M 100c | SOFR+500 bp |
| G•••••• S•••• B••• I••• | term loan first lien 1st L•••/S••••• S•••••• D••• I••••••• D••••••••• C••••••• Services I••••••• R••• 8.68% R•• | $2.6M | $522,000 98c | SOFR+500 bp |
| P•••••• S••••• B•• L•• | term loan first lien 1st L•••/S••••• S•••••• D••• I••••••• D••••••••• C••••••• Services I••••••• R••• 8.68% R•• | $2.6M | $522,000 98c | SOFR+500 bp |
| G•••••• S•••• B••• I••• | term loan first lien 1st L•••/S••••• S•••••• D••• I••••••• D••••••••• C••••••• Services R•••••••• R••• and S••• | $1.6M | $-16,000 160c | SOFR+500 bp |
| P•••••• S••••• B•• L•• | term loan first lien 1st L•••/S••••• S•••••• D••• I••••••• D••••••••• C••••••• Services R•••••••• R••• and S••• | $1.6M | $-16,000 160c | SOFR+500 bp |
| B••••••••• P•••••• C••••• F••• | revolver lien unstated R••••••• | Not disclosed | Not disclosed | S+500 bp |
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| revolver lien unstated | at least $248M | 100c | S+500 bp | May 1, 2031 | 1 |
| first lien term loan first lien | at least $134M | 100c | SOFR+500 bp | May 1, 2031 | 4 |
| other lien unstated exited Mar 31, 2026 | at least $249M | 100c | S+500 bp | May 1, 2031 | 1 |
| delayed draw term loan lien unstated exited Dec 31, 2025 | unknown | n/a | S+500 bp | unstated | 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, 2026 | 4 | $382M | $349M | 100c | 0 |
| Mar 31, 2026 | 4 | $347M | $346M | 100c | 0 |
| Dec 31, 2025 | 4 | $433M | $396M | 100c | 0 |
| Sep 30, 2025 | 4 | $326M | $303M | 100c | 0 |
All 16 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 5 | $333M | $304M | 100c | 0 |
| Mar 31, 2025 | 5 | $334M | $305M | 100c | 0 |
| Dec 31, 2024 | 5 | $565M | $531M | 100c | 0 |
| Sep 30, 2024 | 5 | $332M | $301M | 100c | 0 |
| Jun 30, 2024 | 5 | $300M | $278M | 100c | 0 |
| Mar 31, 2024 | 1 | $40.1M | $39.4M | 103c | 0 |
| Dec 31, 2023 | 1 | $40.1M | $38.9M | 102c | 0 |
| Sep 30, 2023 | 1 | $40.1M | $39.1M | 103c | 0 |
| Jun 30, 2023 | 1 | $40.1M | $39.3M | 104c | 0 |
| Mar 31, 2023 | 1 | $40.2M | $37.7M | 100c | 0 |
| Dec 31, 2022 | 1 | $40.4M | $37.1M | 99c | 0 |
| Sep 30, 2022 | 1 | $39.7M | $37.7M | 102c | 0 |
What changed
- Facility left every BDC scheduleMar 31, 2026
- Facility left every BDC scheduleDec 31, 2025
- Spread increasedDec 31, 2024
- Maturity extended (observed)Jun 30, 2024
- Spread changed (observed)Jun 30, 2024
Full timeline · 12 eventsShow fewer
- Maturity extended (observed)Jun 30, 2024
- Spread changed (observed)Dec 31, 2023
- Spread changed (observed)Sep 30, 2023
- Spread increasedSep 30, 2023
- Spread changed (observed)Jun 30, 2023
- Spread increasedDec 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
- SUNSHINE CADENCEderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 5 BDCsderived
- Industry
- Education)reportedas one filer wrote it