DFX Intelligence
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Borrower
S••••• B••••• L••
Chemicals, Plastics and Rubbergroup grade Aon a schedule nowsponsor unattributed
Also written as: 11; 14; 2023; 22; Allure Lounge; LLC - Funded; LLC - Unfunded; LLC Acquisition 09
What matters now
- 95¢ → 101¢consensus mark
Consensus mark 101¢ on cost, up from 95¢ a year ago, 101¢ last quarter.
Q2 2026 · The lenders' own valuations moved back up.
Derived2 of 2 lenders' own marks, weighted by principal - $29.6Mprincipal outstanding
$29.6M principal held by 2 lenders; matures Jun 2028.
Q2 2026 · Refinancing is due in 21 months at a 101¢ mark.
FactBDC schedules of investments, 30 Jun 2026; a sum of the BDCs' pieces, a lower bound
Mark path, consensus per quarter end
95¢ · 94¢ · 96¢ · 101¢ · 101¢Q2 2025 to Q2 2026
Where each lender marks it, 0 points apart
101¢101¢
Principal held
at least $29.6M
sum of BDC pieces, a lower bound
Fair value
$29.4M
101c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
3
2 on the latest quarter
Facilities
4
1 equity pieces beside them
Next maturity
Jun 13, 2028
$3.2M inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
9
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 |
|---|---|---|---|
| P••••••••• I••••••••• C••• | $22.8M | 101¢ | 0 pts |
| P••••••••• F••••••• R••• C•••••• L••• | $6.86M | 101¢ | 0 pts |
Every BDC piece · 8 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| P••••••••• I••••••••• C••• | term loan first lien F•••• L••• S•••••• D••• A••••••••• 09/14/22 M••••••• 06/13/29 I••••••• C••••••••, P••••••• | $14.8M | $14.8M 101c | SOFR+715 bp |
| P••••••••• F••••••• R••• C•••••• L••• | term loan first lien F•••• L••• S•••••• D••• A••••••••• 4/11/2023 M••••••• 6/13/2029 I••••••• C••••••••, P••••• | $4.9M | $4.9M 101c | SOFR+715 bp |
| P••••••••• I••••••••• C••• | term loan first lien F•••• L••• S•••••• D••• A••••••••• 06/08/2022 M••••••• 06/13/2029 I••••••• C••••••••, P••• | $4.7M | $4.7M 101c | SOFR+715 bp |
| P••••••••• I••••••••• C••• | revolver first lien F•••• L••• S•••••• D••• R••••••• A••••••••• 06/08/2022 M••••••• 06/13/2028 I••••••• C••••• | $3.0M | $3.0M 100c | SOFR+715 bp |
| P••••••••• F••••••• R••• C•••••• L••• | term loan first lien F•••• L••• S•••••• D••• A••••••••• 7/25/2024 M••••••• 6/13/2029 I••••••• C••••••••, P••••• | $1.9M | $1.9M 101c | SOFR+715 bp |
View all 8 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| P••••••••• I••••••••• C••• | revolver first lien F•••• L••• S•••••• D••• R••••••• A••••••••• 06/08/2022 M••••••• 06/13/2028 I••••••• C••••• | $208,000 | $-0 | S+715 bp |
| P••••••••• F••••••• R••• C•••••• L••• | equity equity C••••• Equity C••••• Equity A••••••••• 10/31/2024 I••••••• C••••••••, P••••••• and R••••• | Not disclosed | $0 0c | |
| P••••••••• I••••••••• C••• | equity equity C••••• Equity A••••••••• 06/08/2022 I••••••• C••••••••, P••••••• and R••••• | Not disclosed | $0 0c |
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 $26.4M | 101c | SOFR+715 bp | Jun 13, 2029 | 2 |
| first lien revolver first lien | at least $3.2M | 100c | SOFR+715 bp | Jun 13, 2028 | 1 |
| other lien unstated exited Mar 31, 2024 | at least $14.8M | 98c | S+615 bp | Jun 13, 2029 | 1 |
| term loan lien unstated exited Sep 30, 2022 | at least $121,700 | 113c | S+275 bp | unstated | 1 |
Equity pieces beside the debt: equity ($0 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 | 2 | $29.6M | $29.4M | 101c | 0 |
| Mar 31, 2026 | 2 | $29.6M | $29.4M | 101c | 0 |
| Dec 31, 2025 | 2 | $29.0M | $27.5M | 96c | 0 |
| Sep 30, 2025 | 2 | $54.6M | $50.4M | 94c | 0 |
All 16 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 2 | $29.1M | $26.9M | 95c | 0 |
| Mar 31, 2025 | 2 | $29.2M | $26.4M | 95c | 0 |
| Dec 31, 2024 | 2 | $29.3M | $26.9M | 97c | 0 |
| Sep 30, 2024 | 2 | $80.2M | $71.7M | 97c | 0 |
| Jun 30, 2024 | 2 | $29.4M | $25.6M | 98c | 0 |
| Mar 31, 2024 | 2 | $29.5M | $25.8M | 98c | 0 |
| Dec 31, 2023 | 2 | $29.8M | $25.9M | 97c | 0 |
| Sep 30, 2023 | 2 | $49.2M | $40.5M | 98c | 0 |
| Jun 30, 2023 | 2 | $29.7M | $26.3M | 99c | 0 |
| Mar 31, 2023 | 2 | $29.7M | $30.5M | 116c | 0 |
| Sep 30, 2022 | 3 | $36.9M | $33.3M | 100c | 0 |
| Dec 31, 2021 | 1 | $124,100 | $140,100 | 113c | 0 |
What changed
- Maturity approachingJun 13, 2028
- Spread changed (observed)Jun 30, 2026
- Spread changed (observed)Jun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
Full timeline · 16 eventsShow fewer
- Spread increasedJun 30, 2026
- Spread changed (observed)Mar 31, 2025
- Mark recoveredDec 31, 2024
- Spread changed (observed)Dec 31, 2024
- Spread increasedDec 31, 2024
- Maturity shortened (observed)Dec 31, 2024
- Marked down across lendersSep 30, 2024
- Marked down (one lender)Sep 30, 2024
- Facility left every BDC scheduleMar 31, 2024
- Lender left a facilityMar 31, 2024
- Facility left every BDC scheduleSep 30, 2022
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- SEAWAYderivedthe codename stem after legal suffixes and deal words
- Spellings
- 3 across 3 BDCsderived
- Industry
- Chemicals, Plastics and Rubberreportedas one filer wrote it