DFX Intelligence
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Borrower
N•• H•••••••• L••
Financial Servicesgroup grade Aon a schedule nowsponsor unattributed
Also written as: Finance; Insurance &; LLC -Banking
What matters now
- 100¢ → 94¢consensus mark
Consensus mark 94¢ on cost, down from 100¢ a year ago, 93¢ last quarter.
Q2 2026 · The lenders' own valuations, the most direct read of what they expect to recover.
Derived3 of 3 lenders' own marks, weighted by principal
Mark path, consensus per quarter end
100¢ · 98¢ · 97¢ · 93¢ · 94¢Q2 2025 to Q2 2026
Where each lender marks it on the first lien term loan, 0 points apart
94¢94¢
Principal held
at least $9.9M
sum of BDC pieces, a lower bound
Fair value
$9.2M
94c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
5
3 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
Nov 23, 2028
no dated debt inside 24 months
On the tape since
Feb 29, 2024
latest Jun 30, 2026
Events
1
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 |
|---|---|---|---|
| A•••••• S•••••••• C••••• F••• | $5.68M | 94¢ | +1 pts |
| A•••••• P•••••• C••••• F••• | $2.23M | 94¢ | +1 pts |
| N•••• H•••• P•••••• I••••• F••• A• L•• | $1.99M | 95¢ | +1 pts |
Every BDC piece · 3 positions across 3 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A•••••• S•••••••• C••••• F••• | term loan first lien Asset T••• F•••• L••• T••• L••• R•••••••• R••• and S••••• S + 2.50% I••••••• R••• 6.25% M• | $5.7M | $5.3M 94c | SOFR+250 bp |
| A•••••• P•••••• C••••• F••• | term loan first lien Asset T••• F•••• L••• T••• L••• R•••••••• R••• and S••••• S + 2.50% I••••••• R••• 6.25% M• | $2.2M | $2.1M 94c | SOFR+250 bp |
| N•••• H•••• P•••••• I••••• F••• A• L•• | term loan first lien Investment F•••• L••• D••• R•••••••• R••• and S••••• S + 2.50% I••••••• R••• 6.23% M•••••• | $2.0M | $1.8M 95c | SOFR+250 bp |
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 $9.9M | 94c | SOFR+250 bp | Nov 23, 2028 | 3 |
| other lien unstated exited Dec 31, 2024 | at least $5.8M | 101c | S+275 bp | Nov 23, 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 |
|---|---|---|---|---|---|
| Jun 30, 2026 | 3 | $9.9M | $9.2M | 94c | 0 |
| Mar 31, 2026 | 3 | $9.9M | $9.1M | 93c | 0 |
| Dec 31, 2025 | 3 | $10.4M | $10.0M | 97c | 0 |
| Sep 30, 2025 | 2 | $8.5M | $8.2M | 98c | 0 |
All 6 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 1 | $4.5M | $4.4M | 100c | 0 |
| Dec 31, 2024 | 1 | $5.8M | $5.9M | 101c | 0 |
What changed
- New lender joined a facilityDec 31, 2025
- New lender joined a facilitySep 30, 2025
- Facility left every BDC scheduleDec 31, 2024
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- NAB HOLDINGderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 5 BDCsderived
- Industry
- Financial Servicesreportedas one filer wrote it