DFX Intelligence
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Borrower
N••••••••• L••
group grade Aon a schedule nowsponsor unattributed
Also written as: 667; 760; 827; Equity Securities; LLC (106; LLC (120; LLC (326; LLC (369
Principal held
at least $87.8M
sum of BDC pieces, a lower bound
Fair value
$93.6M
100c on cost, debt pieces
Unfunded
$4.3M
commitments not yet drawn
BDC lenders
2
1 on the latest quarter
Facilities
4
1 equity pieces beside them
Next maturity
Aug 26, 2027
$87.8M inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
13
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 $64.0M | 100c | S+610 bp | Aug 26, 2027 | 2 |
| first lien delayed draw term loan first lien | at least $16.5M | 100c | S+610 bp | Aug 26, 2027 | 2 |
| first lien revolver first lien | at least $7.2M | 100c | S+610 bp | Aug 26, 2027 | 2 |
| delayed draw term loan lien unstated exited Dec 31, 2024 | unknown | n/a | unstated | 2 |
Equity pieces beside the debt: equity ($10.2M fair value, 2 BDCs)
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| M••••• C•••••• I••••• P••• C••• | delayed draw term loan first lien D•••••• D•••) | n/a | n/a | |
| M••••• C•••••• I••••• P••• C••• | delayed draw term loan first lien D•••••• D•••) | S••••• S•••••• L•••• | $16.5M | $12.2M 100c | S+610 bp |
| M••••• C•••••• I••••• P••• C••• | term loan first lien S••••• S•••••• L•••• | $64.0M | $64.0M 100c | S+610 bp |
| M••••• C•••••• I••••• P••• C••• | revolver first lien R•••••••) | S••••• S•••••• L•••• | $7.2M | $7.2M 100c | S+610 bp |
| M••••• C•••••• I••••• P••• C••• | equity equity C••••• units) | Equity S••••••••• | $0 | $3.3M 237c | |
| M••••• C•••••• I••••• P••• C••• | equity equity S••••• B units) | Equity S••••••••• | $0 | $7.0M 164c | PIK 5.00% |
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 | 1 | $87.8M | $83.4M | 100c | 0 |
| Mar 31, 2026 | 1 | $87.9M | $80.7M | 100c | 0 |
| Dec 31, 2025 | 2 | $88.1M | $73.0M | 100c | 0 |
| Sep 30, 2025 | 2 | $88.3M | $67.4M | 100c | 0 |
| Jun 30, 2025 | 2 | $88.4M | $67.5M | 100c | 0 |
| Mar 31, 2025 | 2 | $74.6M | $66.6M | 100c | 0 |
| Dec 31, 2024 | 2 | $184M | $157M | 100c | 0 |
| Sep 30, 2024 | 2 | $64.1M | $57.8M | 100c | 0 |
| Jun 30, 2024 | 2 | $64.2M | $61.5M | 100c | 0 |
| Mar 31, 2024 | 2 | $64.4M | $62.2M | 101c | 0 |
| Dec 31, 2023 | 2 | $122M | $108M | 101c | 0 |
| Sep 30, 2023 | 2 | $64.6M | $59.7M | 101c | 0 |
| Jun 30, 2023 | 2 | $64.8M | $59.9M | 101c | 0 |
| Mar 31, 2023 | 2 | $64.9M | $50.6M | 102c | 0 |
| Dec 31, 2022 | 2 | $130M | $87.0M | 102c | 0 |
| Sep 30, 2022 | 1 | $16.0M | $8.9M | 103c | 0 |
| Dec 31, 2021 | 1 | $4.4M | $4.0M | 102c | 0 |
What changed
- Maturity approachingAug 26, 2027
- Maturity approachingAug 26, 2027
- Maturity approachingAug 26, 2027
- Maturity approachingAug 26, 2027
- Maturity approachingAug 26, 2027
- Maturity approachingAug 26, 2027
- Spread increasedDec 31, 2025
- Spread increasedDec 31, 2025
- Spread increasedDec 31, 2025
- Lender left a facilityMar 31, 2025
- Lender left a facilityMar 31, 2025
- Lender left a facilityMar 31, 2025
- Spread changed (observed)Dec 31, 2024
- Spread changed (observed)Dec 31, 2024
- Spread changed (observed)Dec 31, 2024
- Facility left every BDC scheduleDec 31, 2024
- New lender joined a facilityDec 31, 2022
- New lender joined a facilityDec 31, 2022
- New lender joined a facilityDec 31, 2022
- Maturity extended (observed)Sep 30, 2022
- Maturity extended (observed)Sep 30, 2022
- 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
- NATIONSBENEFITSderivedthe codename stem after legal suffixes and deal words
- Spellings
- 2 across 2 BDCsderived