DFX Intelligence
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Borrower
R••••••••• N•••• S•• R••
group grade Aon a schedule nowsponsor unattributed
Also written as: Netceed
Principal held
at least $15.7M
sum of BDC pieces, a lower bound
Fair value
$11.2M
94c on cost, debt pieces
Unfunded
n/a
commitments not yet drawn
BDC lenders
3
3 on the latest quarter
Facilities
1
0 equity pieces beside them
Next maturity
Jan 1, 2033
no dated debt inside 24 months
On the tape since
Mar 31, 2026
latest Jun 30, 2026
Events
2
dated, non-routine
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien | at least $15.7M | 94c | PIK 9.00% | Jan 1, 2033 | 3 |
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••• O•• C•••••• C••• | term loan first lien F•••• lien senior secured loan | N••••••••• | $4.5M | $3.2M 94c | PIK 9.00% |
| B••• O•• C•••••• C••• I• | term loan first lien F•••• lien senior secured loan | Non A••••••••• | $1.3M | $895,000 94c | PIK 9.00% |
| B••• O•• C••••• I••••• C•••• | term loan first lien F•••• lien senior secured loan | N••••••••• I••••• | $10.0M | $7.1M 94c | PIK 9.00% |
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 | 3 | $15.7M | $11.2M | 94c | 3 |
| Mar 31, 2026 | 3 | $15.2M | $11.2M | 100c | 3 |
What changed
- Marked down across lendersJun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- New borrower on a BDC scheduleMar 31, 2026
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- REINSTATED #LUderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 3 BDCsderived