DFX Intelligence
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Borrower
E••••••• C•••• T••••••••• I••
Commercial & Professional Servicesgroup grade Aon a schedule nowsponsor unattributed
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
100¢ · 100¢ · 100¢ · 100¢ · 100¢Q2 2025 to Q2 2026
Where each lender marks it, 2 points apart
100¢102¢
Principal held
at least $148M
sum of BDC pieces, a lower bound
Fair value
$145M
100c on cost, debt pieces
Unfunded
$1.7M
commitments not yet drawn
BDC lenders
3
3 on the latest quarter
Facilities
5
0 equity pieces beside them
Next maturity
Nov 15, 2029
no dated debt inside 24 months
On the tape since
Dec 31, 2024
latest Jun 30, 2026
Events
2
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 |
|---|---|---|---|
| M•• I••••••••• C•••• | $132M | 100¢ | 0 pts |
| W••••• T••• C•••••• C••• | $13.6M | 102¢ | 0 pts |
| S••••• P•••• S•••••••• L•••••• F••• | $2.67M | 102¢ | 0 pts |
Every BDC piece · 9 positions across 3 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| M•• I••••••••• C•••• | term loan first lien F•••• L••• D••• R•••••••• R••• and S••••• S + 6.00% I••••••• R••• F•••• 1.00% I••••••• R•• | $132M | $130M 100c | SOFR+600 bp |
| W••••• T••• C•••••• C••• | term loan lien unstated T••• L••• | N••••••••• I••••• | $11.9M | $12.0M 102c | S+600 bp |
| S••••• P•••• S•••••••• L•••••• F••• | term loan first lien 1st L•••/S•••••• L•••• I••••••••• 1st L••• T••• L••• I••••••• S•••••••• C•••••••• R••• S+6 | $2.4M | $2.4M 102c | SOFR+600 bp |
| W••••• T••• C•••••• C••• | revolver lien unstated R••••••• | N••••••••• I••••• | $1.7M | $0 0c | S+600 bp |
| S••••• P•••• S•••••••• L•••••• F••• | revolver first lien 1st L•••/S•••••• L•••• I••••••••• 1st L••• R••••••• I••••••• S•••••••• C•••••••• R••• S+6. | $241,448 | $696 -21c | SOFR+600 bp |
View all 9 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| M•• I••••••••• C•••• | revolver first lien F•••• L••• D••• C••••••••• T••• R••••••• C••••••••• E••••••••• D••• 11/15/2029 | Not disclosed | Not disclosed | S+600 bp |
| M•• I••••••••• C•••• | revolver first lien F•••• L••• D••• R•••••••• Credit F••••••• R•••••••• R••• and S••••• S + 6.00% I••••••• R•• | Not disclosed | $-178,000 100c | SOFR+600 bp |
| M•• I••••••••• C•••• | revolver first lien F•••• L••• D••• C••••••••• T••• R••••••• C••••••••• E••••••••• D••• 11/15/2029 | Not disclosed | Not disclosed | S+600 bp |
| W••••• T••• C•••••• C••• | revolver lien unstated R••••••• | Not disclosed | Not disclosed | S+600 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 $135M | 100c | SOFR+600 bp | Nov 15, 2029 | 2 |
| term loan lien unstated | at least $11.9M | 102c | S+600 bp | Nov 15, 2029 | 1 |
| revolver lien unstated | at least $1.7M | n/a | S+600 bp | Nov 15, 2029 | 1 |
| first lien revolver first lien | at least $241,448 | n/a | SOFR+600 bp | Nov 15, 2029 | 2 |
| other lien unstated exited Mar 31, 2025 | at least $14.0M | 101c | S+600 bp | Nov 15, 2029 | 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 | $148M | $145M | 100c | 0 |
| Mar 31, 2026 | 3 | $152M | $148M | 100c | 0 |
| Dec 31, 2025 | 3 | $152M | $148M | 100c | 0 |
| Sep 30, 2025 | 3 | $153M | $148M | 100c | 0 |
All 7 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 3 | $153M | $148M | 100c | 0 |
| Mar 31, 2025 | 3 | $153M | $148M | 100c | 0 |
| Dec 31, 2024 | 3 | $182M | $173M | 100c | 0 |
What changed
- Facility left every BDC scheduleMar 31, 2025
- New borrower on a 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
- E••••••• C•••• T•••••••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 3 BDCsderived
- Industry
- Commercial & Professional Servicesreportedas one filer wrote it