DFX Intelligence
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Borrower
A•• R••••••••• L••
Construction & Engineeringgroup grade Aon a schedule nowsponsor unattributed
Also written as: LLC Second Amendment
Principal held
at least $96.3M
sum of BDC pieces, a lower bound
Fair value
$84.8M
88c on cost, debt pieces
Unfunded
$900,000
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
3
1 equity pieces beside them
Next maturity
Jul 1, 2026
$54.2M inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
16
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 $83.6M | 88c | S+650 bp PIK 1.00% | Jan 1, 2029 | 1 |
| first lien revolver first lien | at least $12.2M | 89c | S+650 bp PIK 1.00% | Jan 1, 2029 | 1 |
| first lien delayed draw term loan first lien | at least $482,000 | 90c | SOFR+550 bp | Jan 31, 2029 | 1 |
Equity pieces beside the debt: other (n/a fair value, 1 BDC)
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A••• C•••••• C••• | revolver first lien F•••• lien senior secured revolving loan | $12.2M | $10.8M 89c | S+650 bp PIK 1.00% |
| A••• C•••••• C••• | term loan first lien F•••• lien senior secured loan 2 | $100,000 | $100,000 100c | S+650 bp PIK 1.00% |
| A••• C•••••• C••• | term loan first lien F•••• lien senior secured loan 3 | $43.4M | $38.2M 88c | S+650 bp PIK 1.00% |
| A••• C•••••• C••• | unstated lien unstated | n/a | n/a | |
| A••• C•••••• C••• | term loan first lien F•••• lien senior secured loan 4 | $10.8M | $9.5M 88c | S+650 bp PIK 1.00% |
| A••• C•••••• C••• | term loan first lien F•••• lien senior secured loan 1 | $29.3M | $25.8M 88c | S+650 bp PIK 1.00% |
| S•••••••• P•••••• C••••• F••• L•• | delayed draw term loan first lien D•••••• D••• T••• L••• | N••• D••• Inv. | F•••• L••• S••••• S•••••• L••• | 1/31/2029 | $482,000 | $432,000 90c | SOFR+550 bp |
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 | $96.3M | $84.8M | 88c | 5 |
| Mar 31, 2026 | 2 | $104M | $90.0M | 87c | 0 |
| Dec 31, 2025 | 2 | $101M | $101M | 100c | 0 |
| Sep 30, 2025 | 2 | $101M | $101M | 100c | 0 |
| Jun 30, 2025 | 2 | $101M | $101M | 100c | 0 |
| Mar 31, 2025 | 2 | $103M | $103M | 100c | 0 |
| Dec 31, 2024 | 2 | $101M | $98.6M | 98c | 0 |
| Sep 30, 2024 | 2 | $100M | $99.0M | 99c | 0 |
| Jun 30, 2024 | 2 | $101M | $101M | 100c | 0 |
| Mar 31, 2024 | 2 | $102M | $102M | 100c | 0 |
| Dec 31, 2023 | 2 | $93.1M | $93.1M | 100c | 0 |
| Sep 30, 2023 | 1 | $113M | $113M | 100c | 0 |
| Jun 30, 2023 | 1 | $92.5M | $92.5M | 100c | 0 |
| Mar 31, 2023 | 1 | $82.9M | $82.9M | 100c | 0 |
| Dec 31, 2022 | 1 | $78.9M | $78.9M | 100c | 0 |
| Sep 30, 2022 | 1 | $37.4M | $37.4M | 100c | 0 |
| Dec 31, 2021 | 1 | $43.9M | $43.9M | 100c | 0 |
What changed
- Maturity extended (observed)Jun 30, 2026
- PIK interest appearsJun 30, 2026
- Spread changed (observed)Jun 30, 2026
- PIK interest appearsJun 30, 2026
- Spread changed (observed)Jun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- Mark recoveredJun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
- PIK interest appearsJun 30, 2026
- PIK interest appearsJun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- Marked down across lendersMar 31, 2026
- Marked down across lendersMar 31, 2026
- Marked down across lendersMar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Mark recoveredJun 30, 2025
- Marked down across lendersSep 30, 2024
- Spread changed (observed)Sep 30, 2024
- Marked down (one lender)Sep 30, 2024
- Spread increasedSep 30, 2024
- Spread changed (observed)Mar 31, 2024
- Spread increasedMar 31, 2024
- Spread increasedMar 31, 2024
- Spread increasedDec 31, 2023
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- A•• R•••••••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived
- Industry
- Construction & Engineeringreportedas one filer wrote it