DFX Intelligence
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Borrower
B••• R•••••• L••
Food & Staples Security 1st Lien, Secured Loangroup grade Aoff every schedule since Dec 31, 2025sponsor not established · possible relationship
Also written as: Brewers; LLC 110 E Houston St. San Antonio; TX 78205
Nothing material in the last 200 days. Last change: 31 Dec 2025, Consensus mark 100¢ on cost, up from 69¢ a year ago, 101¢ last quarter.
Mark path, consensus per quarter end
69¢ · 101¢ · 102¢ · 101¢ · 100¢Q4 2024 to Q4 2025
Principal held
at least $252,000
sum of BDC pieces, a lower bound
Fair value
$247,000
100c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
2
1 on the latest quarter
Facilities
1
0 equity pieces beside them
Next maturity
May 8, 2028
no dated debt inside 24 months
On the tape since
Dec 31, 2022
latest Dec 31, 2025
Events
7
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 |
|---|---|---|---|
| G•••• E•• C•••••• C•••• | $252K | 100¢ | -1 pts |
Every BDC piece · 1 position across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| G•••• E•• C•••••• C•••• | term loan first lien I••••••• F••• & S•••••• S••••••• 1st L•••, S•••••• L••• I••••••• R••• 3M S••• + 8.00% (7.8 | $252,000 | $247,000 100c | SOFR+800 bp PIK 4.00% |
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 $252,000 | 100c | SOFR+800 bp PIK 4.00% | May 8, 2028 | 1 |
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 | $252,000 | $247,000 | 100c | 1 |
| Sep 30, 2025 | 1 | $249,000 | $245,000 | 101c | 1 |
| Jun 30, 2025 | 1 | $246,000 | $246,000 | 102c | 1 |
| Mar 31, 2025 | 1 | $729,000 | $597,000 | 101c | 0 |
All 13 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Dec 31, 2024 | 2 | $11.4M | $7.6M | 69c | 0 |
| Sep 30, 2024 | 2 | $19.6M | $13.6M | 79c | 0 |
| Jun 30, 2024 | 2 | $17.0M | $12.9M | 83c | 0 |
| Mar 31, 2024 | 1 | $11.4M | $9.9M | 88c | 0 |
| Dec 31, 2023 | 1 | $11.6M | $10.0M | 88c | 0 |
| Sep 30, 2023 | 1 | $11.9M | $10.0M | 86c | 0 |
| Jun 30, 2023 | 1 | $12.1M | $8.4M | 71c | 0 |
| Mar 31, 2023 | 1 | $12.1M | $8.9M | 75c | 0 |
| Dec 31, 2022 | 1 | $12.2M | $9.1M | 76c | 0 |
What changed
- Facility left every BDC scheduleDec 31, 2025
- Spread changed (observed)Jun 30, 2025
- PIK interest appearsJun 30, 2025
- PIK interest appearsJun 30, 2025
- Mark recoveredMar 31, 2025
Full timeline · 13 eventsShow fewer
- Spread increasedMar 31, 2025
- Marked down (one lender)Sep 30, 2024
- Marked down (one lender)Sep 30, 2024
- Marked down across lendersJun 30, 2024
- New lender joined a facilityJun 30, 2024
- Marked down (one lender)Jun 30, 2024
- Mark recoveredSep 30, 2023
- New borrower on a BDC scheduleDec 31, 2022
Sponsor
Possible relationship, not established: Q•••••• P••• E••••• L••, because a company of this name is on the sponsor's portfolio page (confidence 0.5). No deal announcement or filing names it as a party, so it is not shown as this borrower’s sponsor.
- Q•••••• P••• E••••• L••
- the sponsor's own portfolio page lists a company of this nameestimatedqpequity.com"••• Locked"
Identity
- Group key
- B••• R•••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived
- Industry
- Food & Staples Security 1st Lien, Secured Loanreportedas one filer wrote it