DFX Intelligence
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Borrower
T•• B•••• T••• L••
Also written as: T•• B•••• T•• Holdings, Inc
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
101¢ · 100¢ · 100¢ · 100¢ · 100¢Q2 2025 to Q2 2026
Principal held
at least $12.1M
sum of BDC pieces, a lower bound
Fair value
$11.8M
100c on cost, debt pieces
Unfunded
$1.2M
commitments not yet drawn
BDC lenders
3
3 on the latest quarter
Facilities
6
2 equity pieces beside them
Next maturity
Dec 27, 2028
no dated debt inside 24 months
On the tape since
Dec 31, 2022
latest Jun 30, 2026
Events
4
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••••• C•••••• I••••• P••• C••• | $12.1M | 100¢ | 0 pts |
Every BDC piece · 6 positions across 3 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| M••••• C•••••• I••••• P••• C••• | term loan first lien S••••• S•••••• L•••• | $9.3M | $9.3M 100c | S+650 bp |
| M••••• C•••••• I••••• P••• C••• | revolver first lien R•••••••) | S••••• S•••••• L•••• | $1.9M | $778,000 100c | S+650 bp |
| M••••• C•••••• I••••• P••• C••• | term loan first lien S••••• S•••••• L•••• | $792,000 | $792,000 100c | S+650 bp |
| M••••• C•••••• I••••• P••• C••• | revolver first lien R•••••••) | Not disclosed | Not disclosed | |
| T••••••••• P•••••• V•••••• C••••• I••• | preferred equity equity P•••••••• S•••• | W•••••• Investments | Not disclosed | $450,000 324c |
View all 6 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| T••••••••• V•••••• G••••• B•• C•••• | preferred equity equity P•••••••• S•••• | W•••••• Investments | Not disclosed | $450,000 324c |
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 $10.1M | 100c | S+650 bp | Dec 27, 2028 | 1 |
| first lien revolver first lien | at least $1.9M | 100c | S+650 bp | Dec 27, 2028 | 1 |
| other lien unstated exited Dec 31, 2022 | at least $10.0M | 100c | S+875 bp | unstated | 1 |
| first lien delayed draw term loan first lien exited Dec 31, 2025 | at least $1.9M | 100c | S+650 bp | Dec 27, 2028 | 1 |
| revolver lien unstated exited Dec 31, 2023 | unknown | n/a | unstated | 1 |
All 6 facilitiesShow fewerheld first, largest first
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| delayed draw term loan lien unstated exited Dec 31, 2023 | unknown | n/a | unstated | 1 |
Equity pieces beside the debt: preferred equity ($900,000 fair value, 2 BDCs), warrants ($937,000 fair value, 2 BDCs)
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 | $12.1M | $10.9M | 100c | 0 |
| Mar 31, 2026 | 3 | $12.1M | $10.9M | 100c | 0 |
| Dec 31, 2025 | 3 | $13.2M | $10.2M | 100c | 0 |
| Sep 30, 2025 | 3 | $13.2M | $10.2M | 100c | 0 |
All 12 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 3 | $13.3M | $10.0M | 101c | 0 |
| Mar 31, 2025 | 2 | $14.3M | $10.6M | 101c | 0 |
| Dec 31, 2024 | 3 | $28.6M | $20.9M | 101c | 0 |
| Sep 30, 2024 | 2 | $14.3M | $10.5M | 101c | 0 |
| Jun 30, 2024 | 2 | $14.3M | $10.5M | 101c | 0 |
| Mar 31, 2024 | 2 | $14.4M | $11.1M | 101c | 0 |
| Dec 31, 2023 | 2 | $43.2M | $31.3M | 100c | 0 |
| Dec 31, 2022 | 1 | $10.0M | $10.0M | 100c | 0 |
What changed
- Facility left every BDC scheduleDec 31, 2025
- Facility left every BDC scheduleDec 31, 2023
- Facility left every BDC scheduleDec 31, 2023
- Facility left every BDC scheduleDec 31, 2022
Sponsor
Possible relationship, not established: T•• M••••••••• A••••••••• L••, 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.
- T•• M••••••••• A••••••••• L••
- the sponsor's own portfolio page lists a company of this nameestimatedtzpgroup.com"••• Locked"
- S••••••• L••
- the sponsor's own portfolio page lists a company of this nameestimatedstripes.co"••• Locked"
Identity
- Group key
- BLACK TUXderivedthe codename stem after legal suffixes and deal words
- Spellings
- 2 across 3 BDCsderived