DFX Intelligence
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Borrower
C•••• I••••••••• I••
Also written as: Inc. Building Products PIK; Inc.First Lien; Senneca Holdings
What matters now
- 2 of 6 lenderson non-accrual
Non-accrual at 2 of 6 lenders on the latest schedules.
Q2 2026 · Interest has stopped accruing; the lenders no longer expect to be paid in full.
FactBDC schedules of investments, 30 Jun 2026For restructuring advisers, special situations funds, the lenders' LPsSee every lender → - $113Mprincipal outstanding
$113M principal held by 6 lenders; matures May 2029.
Q2 2026 · Refinancing is due in 32 months at a 100¢ mark.
FactBDC schedules of investments, 30 Jun 2026; a sum of the BDCs' pieces, a lower bound
Mark path, consensus per quarter end
96¢ · 102¢ · 100¢ · 100¢ · 100¢Q2 2025 to Q2 2026
Where each lender marks it on the first lien term loan, 1 point apart
100¢101¢
Principal held
at least $113M
sum of BDC pieces, a lower bound
Fair value
$108M
100c on cost, debt pieces
Unfunded
$1.0M
commitments not yet drawn
BDC lenders
9
6 on the latest quarter
Facilities
5
1 equity pieces beside them
Next maturity
May 11, 2029
no dated debt inside 24 months
On the tape since
Sep 30, 2021
latest Jun 30, 2026
Events
33
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••• C•••••• P•••••• C••••• | $39.2M | 100¢ | -1 pts |
| S••••• C•••••• H••••••• L•• | $34.2M | 101¢ | no comparable mark |
| G•••••• S•••• B••• I••• | $32.4M | 101¢ | no comparable mark |
| O•••••• S•••••••• L•••••• C••• | $6.27M | 101¢ | new this quarter |
| N••••• C•••••••• P•••••• C•••••• I••••• F••• | $998K | 100¢ | new this quarter |
View all 6 lendersShow fewerlargest exposure first
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| N••••• C•••••••• D••••• L•••••• C•••• | $100K | 100¢ | new this quarter |
Every BDC piece · 11 positions across 6 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••• C•••••• P•••••• C••••• | term loan first lien F•••• L••• S••••• S•••••• L••• S••• F•••• 1.00% S••••• 5.00% I••••••• R••• 8.67% M••••••• | $38.6M | $38.2M 100c | SOFR+500 bp |
| S••••• C•••••• H••••••• L•• | term loan second lien 2nd L•••/S••••• S•••••• D••• I••••••• R••• 10.00% R•••••••• R••• and S••••• 10.00% M•••••• | $17.5M | $17.0M 100c | S+1000 bp PIK 10.00% |
| S••••• C•••••• H••••••• L•• | term loan second lien 2nd L•••/S••••• S•••••• D••• R•••••••• R••• and S••••• 10.00% PIK M••••••• 11/12/29 | $16.7M | $15.0M 102c | S+1000 bp PIK 10.00% |
| G•••••• S•••• B••• I••• | term loan second lien 2nd L•••/S••••• S•••••• D••• I••••••• B••••••• P••••••• I••••••• R••• 10.00% R•••••••• R•• | $16.6M | $16.1M 100c | S+1000 bp |
| G•••••• S•••• B••• I••• | term loan second lien 2nd L•••/S••••• S•••••• D••• I••••••• B••••••• P••••••• R•••••••• R••• and S••••• 10.00% P | $15.8M | $14.2M 102c | S+1000 bp PIK 10.00% |
View all 11 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| O•••••• S•••••••• L•••••• C••• | term loan first lien F•••• L••• T••• L••• | $6.2M | $6.1M 101c | S+500 bp |
| N••••• C•••••••• P•••••• C•••••• I••••• F••• | term loan first lien F•••• L••• D••• | $998,000 | $991,000 100c | S+500 bp |
| B••• C•••••• P•••••• C••••• | revolver first lien F•••• L••• S••••• S•••••• L••• - R••••••• S••• F•••• 1.00% S••••• 5.00% I••••••• R••• 8.65 | $545,000 | $474,000 102c | SOFR+500 bp |
| N••••• C•••••••• D••••• L•••••• C•••• | term loan first lien F•••• L••• D••• | $100,000 | $99,000 100c | S+500 bp |
| O•••••• S•••••••• L•••••• C••• | revolver first lien F•••• L••• R••••••• | $83,000 | $69,000 115c | S+500 bp |
| O•••••• S•••••••• L•••••• C••• | unstated lien unstated | Not disclosed | Not disclosed |
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| second lien term loan second lien | at least $66.6M | 101c | S+1000 bp PIK 10.00% | Nov 12, 2029 | 2 |
| first lien term loan first lien | at least $45.9M | 100c | SOFR+500 bp | Nov 12, 2029 | 4 |
| first lien revolver first lien | at least $628,000 | 104c | SOFR+500 bp | Nov 12, 2029 | 2 |
| term loan lien unstated exited Sep 30, 2022 | at least $13.4M | 81c | S+700 bp | May 1, 2025 | 1 |
| first lien delayed draw term loan first lien exited Mar 31, 2026 | at least $2.7M | 100c | SOFR+565 bp PIK 1.50% | Nov 11, 2027 | 1 |
Equity pieces beside the debt: other (Not disclosed fair value, 1 BDC)
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 | 6 | $113M | $108M | 100c | 3 |
| Mar 31, 2026 | 5 | $112M | $106M | 141c | 10 |
| Dec 31, 2025 | 5 | $112M | $85.0M | 112c | 11 |
| Sep 30, 2025 | 6 | $128M | $93.6M | 103c | 14 |
All 18 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 5 | $113M | $74.1M | 97c | 11 |
| Mar 31, 2025 | 5 | $113M | $68.8M | 90c | 11 |
| Dec 31, 2024 | 5 | $145M | $94.9M | 89c | 15 |
| Sep 30, 2024 | 5 | $105M | $51.2M | 75c | 11 |
| Jun 30, 2024 | 5 | $105M | $49.7M | 73c | 9 |
| Mar 31, 2024 | 6 | $105M | $49.6M | 73c | 14 |
| Dec 31, 2023 | 6 | $161M | $50.6M | 58c | 14 |
| Sep 30, 2023 | 5 | $88.8M | $33.3M | 63c | 9 |
| Jun 30, 2023 | 5 | $88.8M | $31.9M | 100c | 3 |
| Mar 31, 2023 | 5 | $88.6M | $29.3M | 93c | 3 |
| Dec 31, 2022 | 4 | $102M | $41.7M | 64c | 6 |
| Sep 30, 2022 | 3 | $44.4M | $36.0M | 81c | 2 |
| Dec 31, 2021 | 1 | $13.8M | $10.9M | 79c | 2 |
| Sep 30, 2021 | 1 | $13.3M | $10.7M | 79c | 3 |
What changed
- Maturity extended (observed)Jun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- Spread changed (observed)Jun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
Full timeline · 30 eventsShow fewer
- Spread changed (observed)Jun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- Spread changed (observed)Mar 31, 2026
- Lender left a facilityMar 31, 2026
- Lender left a facilityMar 31, 2026
- Facility left every BDC scheduleMar 31, 2026
- Lender left a facilityMar 31, 2026
- Mark recoveredSep 30, 2025
- Mark recoveredJun 30, 2025
- PIK interest increasedJun 30, 2025
- PIK interest increasedJun 30, 2025
- Mark recoveredMar 31, 2025
- Maturity extended (observed)Mar 31, 2025
- Maturity extended (observed)Mar 31, 2025
- Maturity extended (observed)Mar 31, 2025
- Maturity extended (observed)Mar 31, 2025
- Maturity extended (observed)Mar 31, 2025
- Maturity extended (observed)Mar 31, 2025
Sponsor
Possible relationship, not established: C•••• S••••• C••••••, because a company of this name is on the sponsor's portfolio page (confidence 0.65). No deal announcement or filing names it as a party, so it is not shown as this borrower’s sponsor.
- C•••• S••••• C••••••
- the sponsor's own portfolio page lists a company of this nameestimatedcourtsquare.com"••• Locked"
Identity
- Group key
- C•••• I•••••••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 9 BDCsderived
- Industry
- Building Productsreportedas one filer wrote it