DFX Intelligence
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Borrower
K••••• H••••••• L••
Aerospace & Defensegroup grade Bon a schedule nowsponsor unattributed
Also written as: K••••• Buyer Corp
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
101¢ · 102¢ · 102¢ · 101¢ · 101¢Q2 2025 to Q2 2026
Where each lender marks it, 0 points apart
101¢101¢
Principal held
at least $13.9M
sum of BDC pieces, a lower bound
Fair value
$14.0M
101c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
4
2 on the latest quarter
Facilities
3
0 equity pieces beside them
Next maturity
Apr 1, 2032
no dated debt inside 24 months
On the tape since
Sep 30, 2022
latest Jun 30, 2026
Events
11
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••• | $11.9M | 101¢ | 0 pts |
| F•••• E•••• P•••••• C••••• F••• | $1.98M | 101¢ | 0 pts |
Every BDC piece · 2 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••••••••• P•••••• C••••• F••• | term loan lien unstated N••••••••• I••••• | $11.9M | $12.0M 101c | S+275 bp |
| F•••• E•••• P•••••• C••••• F••• | term loan first lien F•••• L••• D••• R•••••••• R••• and S••••• S + 2.75% I••••••• R••• F•••• 0.00% I••••••• R•• | $2.0M | $2.0M 101c | SOFR+275 bp |
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| term loan lien unstated | at least $11.9M | 101c | S+275 bp | Apr 1, 2032 | 2 |
| first lien term loan first lien | at least $2.0M | 101c | SOFR+275 bp | Apr 1, 2032 | 2 |
| revolver lien unstated exited Dec 31, 2024 | at least $6.6M | 100c | SOFR+625 bp | Dec 21, 2025 | 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 | 2 | $13.9M | $14.0M | 101c | 0 |
| Mar 31, 2026 | 2 | $13.9M | $14.0M | 101c | 0 |
| Dec 31, 2025 | 2 | $26.9M | $27.1M | 102c | 0 |
| Sep 30, 2025 | 2 | $26.9M | $27.1M | 102c | 0 |
All 16 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 2 | $27.0M | $27.1M | 101c | 0 |
| Mar 31, 2025 | 3 | $59.4M | $59.4M | 100c | 0 |
| Dec 31, 2024 | 1 | $64.4M | $64.4M | 100c | 0 |
| Sep 30, 2024 | 1 | $64.8M | $65.1M | 101c | 0 |
| Jun 30, 2024 | 1 | $65.0M | $65.3M | 101c | 0 |
| Mar 31, 2024 | 1 | $65.6M | $66.2M | 102c | 0 |
| Dec 31, 2023 | 1 | $66.0M | $66.2M | 101c | 0 |
| Sep 30, 2023 | 1 | $64.6M | $64.1M | 100c | 0 |
| Jun 30, 2023 | 2 | $68.8M | $67.4M | 99c | 0 |
| Mar 31, 2023 | 2 | $68.5M | $66.4M | 98c | 0 |
| Dec 31, 2022 | 2 | $68.8M | $66.8M | 98c | 0 |
| Sep 30, 2022 | 1 | $2.3M | $2.1M | 91c | 0 |
What changed
- Spread changed (observed)Mar 31, 2026
- Spread changed (observed)Mar 31, 2026
- Spread changed (observed)Jun 30, 2025
- Maturity extended (observed)Jun 30, 2025
- Lender left a facilityMar 31, 2025
Full timeline · 15 eventsShow fewer
- Spread changed (observed)Mar 31, 2025
- New lender joined a facilityMar 31, 2025
- Facility left every BDC scheduleDec 31, 2024
- Spread changed (observed)Jun 30, 2024
- Spread changed (observed)Jun 30, 2024
- Mark recoveredJun 30, 2023
- Lender left a facilityJun 30, 2023
- Marked down across lendersDec 31, 2022
- Marked down (one lender)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
- KARMANderivedthe codename stem after legal suffixes and deal words
- Spellings
- 2 across 4 BDCsderived
- Industry
- Aerospace & Defensereportedas one filer wrote it