DFX Intelligence
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Borrower
D••••••••• M••••• I••
group grade Aoff every schedule since Sep 30, 2025sponsor unattributed
Also written as: Equity Securities; Inc. 1; Inc. 2; Inc.Senior; Shares of
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
105¢ · 104¢ · 104¢Q3 2024 to Q1 2025
Principal held
unknown
sum of BDC pieces, a lower bound
Fair value
$5.3M
n/a on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
2
1 on the latest quarter
Facilities
3
1 equity pieces beside them
Next maturity
unstated
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Sep 30, 2025
Events
8
dated, non-routine
Lender marks
each lender's own fair value over cost at Sep 30, 2025, folded to one row per lender
Every BDC piece · 1 position across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| M••••• C•••••• I••••• P••• C••• | equity equity common stock | $0 | $5.3M 110c |
Capital structure as the BDCs see it
latest quarter end Sep 30, 2025
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Mar 31, 2025 | at least $9.1M | 104c | S+675 bp | Jun 21, 2028 | 2 |
| first lien revolver first lien exited Mar 31, 2025 | at least $773,000 | 100c | S+665 bp | Jun 21, 2028 | 2 |
| first lien delayed draw term loan first lien exited Dec 31, 2024 | at least $227,000 | 102c | S+665 bp | unstated | 1 |
Equity pieces beside the debt: equity ($5.3M fair value, 1 BDC)
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Sep 30, 2025 | 1 | $0 | $0 | n/a | 0 |
| Jun 30, 2025 | 1 | $0 | $0 | n/a | 0 |
| Mar 31, 2025 | 2 | $9.8M | $9.4M | 104c | 0 |
| Dec 31, 2024 | 2 | $22.3M | $21.4M | 104c | 0 |
All 14 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Sep 30, 2024 | 2 | $11.9M | $8.9M | 105c | 0 |
| Jun 30, 2024 | 2 | $11.9M | $8.4M | 105c | 0 |
| Mar 31, 2024 | 2 | $12.0M | $8.2M | 105c | 0 |
| Dec 31, 2023 | 2 | $33.4M | $22.5M | 105c | 0 |
| Sep 30, 2023 | 2 | $12.0M | $7.7M | 104c | 0 |
| Jun 30, 2023 | 2 | $12.0M | $7.2M | 100c | 0 |
| Mar 31, 2023 | 1 | $599,000 | $57,000 | 100c | 0 |
| Dec 31, 2022 | 1 | $2.8M | $1.1M | 100c | 0 |
| Sep 30, 2022 | 1 | $1.3M | $759,000 | 100c | 0 |
| Dec 31, 2021 | 1 | $2.3M | $1.7M | 100c | 0 |
What changed
- Facility left every BDC scheduleMar 31, 2025
- Facility left every BDC scheduleMar 31, 2025
- Facility left every BDC scheduleDec 31, 2024
- New lender joined a facilityJun 30, 2023
- Spread changed (observed)Jun 30, 2023
Full timeline · 14 eventsShow fewer
- Maturity extended (observed)Jun 30, 2023
- Spread changed (observed)Jun 30, 2023
- Maturity extended (observed)Jun 30, 2023
- New lender joined a facilityJun 30, 2023
- Spread increasedJun 30, 2023
- Spread increasedJun 30, 2023
- Maturity extended (observed)Jun 30, 2023
- Maturity extended (observed)Jun 30, 2023
- New borrower on a BDC scheduleDec 31, 2021
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- D••••••••• M••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived