DFX Intelligence

Private Credit Intelligence

The capital structure graph behind private markets. Who lent, to whom, under which sponsor, through which facility, how large the piece was, when it matures and what changed, with a filing behind every number. A BDC piece is that BDC's piece, a sum of pieces is a lower bound, and a sponsor is named with the evidence that names it.

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Borrower

V•••••• A•• P•• L••

Retailinggroup grade Aon a schedule nowsponsor unattributed

Also written as: Greencross

Principal held

at least $192M

sum of BDC pieces, a lower bound

Fair value

$138M

100c on cost, debt pieces

Unfunded

n/a

commitments not yet drawn

BDC lenders

7 on the latest quarter

Facilities

0 equity pieces beside them

Next maturity

Mar 1, 2028

$192M inside 24 months

On the tape since

Sep 30, 2021

latest Jun 30, 2026

Events

dated, non-routine

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 $137M	102c	//www.crescentcap.com/20260630#BBSY+450 bp	Mar 31, 2028	10
other lien unstated	at least $54.9M	96c	S+450 bp	Mar 23, 2028	4

Lenders

every BDC piece at the latest quarter end

BDC	Instrument	Principal	Fair value	Rate
B••• O•• C•••••• C•••	term loan first lien First lien senior secured AUD term loan \| Non-Affiliated	$2.1M	$1.4M 105c	S+450 bp
B••• O•• C•••••• C••• I•	term loan first lien First lien senior secured AUD term loan \| Non Affiliated	$569,000	$393,000 105c	S+450 bp
B••• O•• C••••• I••••• C••••	term loan first lien First lien senior secured AUD term loan \| Non-Affiliated Issuer	$69.6M	$48.1M 105c	S+450 bp
B••• O•• T••••••••• F•••••• C••••	term loan first lien First lien senior secured AUD term loan \| Non-Affiliated Issuer	$12.8M	$8.8M 105c	S+450 bp
C••••••• C•••••• B••• I•••	term loan first lien Investment Type Unitranche First Lien Term Loan Interest Term B + 450 Interest Rate 9.01%	$28.7M	$19.9M 94c	//www.crescentcap.com/20260630#BBSY+450 bp
C••••••• C•••••• B••• I•••	term loan first lien Investment Type Unitranche First Lien Term Loan Interest Term B + 450, 75 Floor Interest R	$4.8M	$3.3M 101c	//www.crescentcap.com/20260630#BBSY+450 bp
G•••• C•••••• B••• I•••	term loan first lien One stop \| Non-Affiliated Issuer	$18.4M	$18.4M 105c	S+450 bp
H•• C•••••••• L•••••• F•••	unstated lien unstated Non-Affiliated Issuer	$54.9M	$38.0M 96c	S+450 bp

Through time

the borrower's pieces summed across BDCs, every quarter end

Quarter end	BDCs	Principal held	Fair value	On cost
Jun 30, 2026	7	$192M	$138M	100c
Mar 31, 2026	7	$192M	$138M	100c
Dec 31, 2025	7	$182M	$135M	97c
Sep 30, 2025	7	$200M	$152M	95c
Jun 30, 2025	7	$183M	$133M	94c
Mar 31, 2025	7	$181M	$127M	89c
Dec 31, 2024	7	$309M	$205M	88c
Sep 30, 2024	8	$207M	$149M	99c
Jun 30, 2024	11	$209M	$186M	98c
Mar 31, 2024	13	$209M	$186M	97c
Dec 31, 2023	13	$210M	$188M	98c
Sep 30, 2023	12	$209M	$183M	96c
Jun 30, 2023	13	$211M	$185M	97c
Mar 31, 2023	13	$222M	$194M	96c
Dec 31, 2022	12	$219M	$190M	96c
Sep 30, 2022	3	$20.2M	$20.2M	94c
Sep 30, 2021	1	$3.3M	$3.3M	101c

What changed

Maturity approachingMar 31, 2028
V•••••• A•• P•• L•• term loan (first lien) matures 2028-03-31 (inside 24 months; $137.0M held by 10 BDCs)
Maturity approachingMar 23, 2028
V•••••• A•• P•• L•• other (unknown) matures 2028-03-23 (inside 24 months; $54.9M held by 5 BDCs)
Spread changed (observed)Dec 31, 2025
V•••••• A•• P•• L•• term loan: spread moved from 5.75% to 4.50%
Marked down (one lender)Dec 31, 2025
B••• O•• T••••••••• F•••••• C••••: fair value markdown in V•••••• A•• P•• L•• (106 to 101 cents on cost)
New lender joined a facilityMar 31, 2025
B••• O•• T••••••••• F•••••• C•••• joins V•••••• A•• P•• L•• term loan (first lien) held by 5 other BDCs
Marked down across lendersDec 31, 2024
V•••••• A•• P•• L•• term loan: marked from 101 to 90 cents on cost across 5 lender(s)
Marked down (one lender)Dec 31, 2024
B••• O•• C••••• I••••• C••••: fair value markdown in V•••••• A•• P•• L•• (102 to 91 cents on cost)
Marked down (one lender)Dec 31, 2024
B••• O•• T••••••••• F•••••• C•••• I•: fair value markdown in V•••••• A•• P•• L•• (102 to 91 cents on cost)
Marked down (one lender)Dec 31, 2024
B••• O•• C•••••• C•••: fair value markdown in V•••••• A•• P•• L•• (102 to 91 cents on cost)
Marked down (one lender)Dec 31, 2024
B••• O•• C•••••• C••• I•: fair value markdown in V•••••• A•• P•• L•• (102 to 91 cents on cost)
Marked down (one lender)Dec 31, 2024
G•••• C•••••• B••• I•••: fair value markdown in V•••••• A•• P•• L•• (97 to 87 cents on cost)
Marked down (one lender)Dec 31, 2024
H•• C•••••••• L•••••• F•••: fair value markdown in V•••••• A•• P•• L•• (97 to 87 cents on cost)
Marked down (one lender)Dec 31, 2024
C••••••• C•••••• B••• I•••: fair value markdown in V•••••• A•• P•• L•• (95 to 85 cents on cost)
Lender left a facilityJun 30, 2024
N•••• H•••• P•••••• I••••• F••• L•• no longer holds V•••••• A•• P•• L•• other after 2024-06-30; 2 BDC(s) still hold it
Lender left a facilityJun 30, 2024
T• S••••• B•• L•• no longer holds V•••••• A•• P•• L•• other after 2024-06-30; 2 BDC(s) still hold it
Lender left a facilityJun 30, 2024
M••••• S•••••• D••••• L•••••• F••• no longer holds V•••••• A•• P•• L•• term loan after 2024-06-30; 8 BDC(s) still hold it
New lender joined a facilityDec 31, 2022
B••• O•• C••••• I••••• C•••• joins V•••••• A•• P•• L•• term loan (first lien) held by 6 other BDCs
New lender joined a facilityDec 31, 2022
C••••••• C•••••• B••• I••• joins V•••••• A•• P•• L•• term loan (first lien) held by 8 other BDCs
New lender joined a facilityDec 31, 2022
B••• O•• T••••••••• F•••••• C•••• I• joins V•••••• A•• P•• L•• term loan (first lien) held by 6 other BDCs
New lender joined a facilityDec 31, 2022
B••• O•• C•••••• C••• I•• joins V•••••• A•• P•• L•• term loan (first lien) held by 6 other BDCs
New lender joined a facilityDec 31, 2022
B••• O•• C•••••• C••• I• joins V•••••• A•• P•• L•• term loan (first lien) held by 6 other BDCs
Marked down across lendersSep 30, 2022
V•••••• A•• P•• L•• term loan: marked from 101 to 94 cents on cost across 3 lender(s)
Spread changed (observed)Sep 30, 2022
V•••••• A•• P•• L•• term loan: spread moved from 4.75% to 5.50%
Maturity extended (observed)Sep 30, 2022
V•••••• A•• P•• L•• term loan: maturity moved from 2025-02-01 to 2028-03-22
New lender joined a facilitySep 30, 2022
B••• O•• C•••••• C••• joins V•••••• A•• P•• L•• term loan (first lien) held by 2 other BDCs
Marked down (one lender)Sep 30, 2022
G•••• C•••••• B••• I•••: fair value markdown in V•••••• A•• P•• L•• (101 to 94 cents on cost)
Spread increasedSep 30, 2022
G•••• C•••••• B••• I•••: spread increased in V•••••• A•• P•• L•• (4.75% to 5.75%)
Maturity extended (observed)Sep 30, 2022
G•••• C•••••• B••• I•••: maturity extended in V•••••• A•• P•• L•• (2025-02-01 to 2028-03-01)
New borrower on a BDC scheduleSep 30, 2021
V•••••• A•• P•• L•• first appears in a BDC schedule (1 lender)

Every change including routine ones

Identity

Group key: VERMONT AUSderivedthe codename stem after legal suffixes and deal words
Spellings: 1 across 14 BDCsderived
Industry: Retailingreportedas one filer wrote it