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Borrower

R•••• B••••• I••

Softwaregroup grade Aon a schedule nowsponsor not established · possible relationship
Also written as: Inc. Asset Type
See every lender's markFind rescue capital
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Special situations PE firms

What matters now

  1. 93¢ → 88¢
    consensus mark

    Consensus mark 88¢ on cost, down from 93¢ a year ago, 88¢ last quarter.

    Q2 2026 · The lenders' own valuations, the most direct read of what they expect to recover.

    Derived5 of 5 lenders' own marks, weighted by principal
  2. $187M
    principal outstanding

    $187M principal held by 5 lenders; matures Jul 2029.

    Q2 2026 · Refinancing is due in 34 months at a 88¢ mark.

    FactBDC schedules of investments, 30 Jun 2026; a sum of the BDCs' pieces, a lower bound
Mark path, consensus per quarter end
Q2 2025: 93¢Q3 2025: 92¢Q4 2025: 92¢Q1 2026: 88¢Q2 2026: 88¢93¢ · 92¢ · 92¢ · 88¢ · 88¢Q2 2025 to Q2 2026
Where each lender marks it, 4 points apart
87¢Consensus: 88¢B••••••••• P•••••• C••••• F•••: 87¢J•••••••• C••••• P••••••• B•• I•••: 91¢S••••• C••••• I••••••••• L••: 91¢B••••••••• S•••••• L•••••• F•••: 88¢A•••••• S•••••••• C••••• F•••: 87¢91¢
Principal held
at least $187M
sum of BDC pieces, a lower bound
Fair value
$163M
88c on cost, debt pieces
Unfunded
$2.8M
commitments not yet drawn
BDC lenders
5
5 on the latest quarter
Facilities
5
0 equity pieces beside them
Next maturity
Jul 19, 2029
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
LenderExposureCurrent markQoQ change
B••••••••• P•••••• C••••• F•••$163M87¢0 pts
J•••••••• C••••• P••••••• B•• I•••$15.8M91¢-2 pts
S••••• C••••• I••••••••• L••$6.92M91¢-2 pts
B••••••••• S•••••• L•••••• F•••$1.01M88¢+1 pts
A•••••• S•••••••• C••••• F•••$200K87¢+1 pts
Every BDC piece · 12 positions across 5 lenderslargest principal first, with instrument and rate
BDCInstrumentPrincipalFair valueRate
B••••••••• P•••••• C••••• F•••revolver lien unstated
N••••••••• I•••••
$148M$129M
88c
S+625 bp
PIK 3.50%
B••••••••• P•••••• C••••• F•••revolver lien unstated
N••••••••• I•••••
$15.0M$12.7M
85c
S+575 bp
J•••••••• C••••• P••••••• B•• I•••term loan first lien
T••• F•••• L••• T••• L••• R•••••••• R••• and S••••• S + 6.25% (includes 3.50% PIK) M••••••
$12.9M$11.6M
91c
SOFR+625 bp
PIK 3.50%
S••••• C••••• I••••••••• L••term loan first lien
T••• F•••• L••• T••• L••• R•••••••• R••• and S••••• S + 6.25% (includes 3.50% PIK) M••••••
$5.6M$5.1M
91c
SOFR+625 bp
PIK 3.50%
J•••••••• C••••• P••••••• B•• I•••delayed draw term loan first lien
T••• F•••• L••• D•••••• D••• T••• L••• R•••••••• R••• and S••••• S + 6.25% (includes 3.50%
$2.9M$2.7M
91c
SOFR+625 bp
PIK 3.50%
View all 12 positionslargest principal first
BDCInstrumentPrincipalFair valueRate
S••••• C••••• I••••••••• L••delayed draw term loan first lien
T••• F•••• L••• D•••••• D••• T••• L••• R•••••••• R••• and S••••• S + 6.25% (includes 3.50%
$1.3M$1.2M
91c
SOFR+625 bp
PIK 3.50%
B••••••••• S•••••• L•••••• F•••revolver lien unstated
N••••••••• I•••••
$919,000$799,000
88c
S+625 bp
PIK 3.50%
A•••••• S•••••••• C••••• F•••term loan first lien
Asset T••• F•••• L••• T••• L••• R•••••••• R••• and S••••• S + 6.25% I••••••• R••• 10.00% (
$184,000$160,000
87c
SOFR+625 bp
PIK 3.50%
B••••••••• S•••••• L•••••• F•••revolver lien unstated
N••••••••• I•••••
$93,000$79,000
86c
S+575 bp
A•••••• S•••••••• C••••• F•••delayed draw term loan first lien
Asset T••• F•••• L••• D•••••• D••• T••• L••• R•••••••• R••• and S••••• S + 6.25% I•••••••
$16,000$14,000
88c
SOFR+625 bp
PIK 3.50%
B••••••••• P•••••• C••••• F•••revolver lien unstated
R•••••••
Not disclosedNot disclosed
B••••••••• S•••••• L•••••• F•••revolver lien unstated
R•••••••
Not disclosedNot disclosed
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
FacilityHeldOn costPricingMaturityBDCs
revolver lien unstatedat least $164M87cS+625 bp
PIK 3.50%
Jul 19, 20292
first lien term loan first lienat least $18.7M91cSOFR+625 bp
PIK 3.50%
Jul 19, 20293
first lien delayed draw term loan first lienat least $4.2M91cSOFR+625 bp
PIK 3.50%
Jul 19, 20293
other lien unstated
exited Jun 30, 2024
at least $150M100cS+575 bp
PIK 1.75%
Jul 19, 20282
delayed draw term loan lien unstated
exited Mar 31, 2024
unknownn/aS+575 bpunstated2
Through time
the borrower's pieces summed across BDCs, every quarter end
Quarter endBDCsPrincipal heldFair valueOn costPIK pieces
Jun 30, 20265$187M$163M88c8
Mar 31, 20265$179M$156M88c8
Dec 31, 20255$201M$183M92c12
Sep 30, 20255$173M$159M92c8
All 16 quarters
Quarter endBDCsPrincipal heldFair valueOn costPIK pieces
Jun 30, 20255$184M$170M93c0
Mar 31, 20255$178M$164M93c0
Dec 31, 20245$352M$327M94c10
Sep 30, 20245$177M$168M96c6
Jun 30, 20245$172M$170M100c6
Mar 31, 20245$165M$163M100c0
Dec 31, 20234$188M$185M100c0
Sep 30, 20232$123M$120M100c0
Jun 30, 20232$120M$117M100c0
Mar 31, 20232$120M$117M100c0
Dec 31, 20222$117M$114M100c0
Sep 30, 20222$117M$114M100c0
What changed
Full timeline · 30 events
Every change including routine ones
Identity
Group key
RALLYderivedthe codename stem after legal suffixes and deal words
Spellings
1 across 5 BDCsderived
Industry
Softwarereportedas one filer wrote it