DFX Intelligence
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Borrower
C•••• A••••••••• L••
Softwaregroup grade Aon a schedule nowsponsor unattributed
Principal held
at least $83.1M
sum of BDC pieces, a lower bound
Fair value
$81.3M
99c on cost, debt pieces
Unfunded
$5.0M
commitments not yet drawn
BDC lenders
4
3 on the latest quarter
Facilities
4
0 equity pieces beside them
Next maturity
Jun 28, 2029
no dated debt inside 24 months
On the tape since
Jun 30, 2023
latest Jun 30, 2026
Events
5
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 $83.1M | 99c | SOFR+550 bp | Jun 28, 2029 | 3 |
| first lien revolver first lien | unknown | n/a | unstated | 3 | |
| revolver lien unstated exited Dec 31, 2024 | at least $13.9M | 102c | S+625 bp PIK 2.25% | unstated | 3 |
| other lien unstated exited Jun 30, 2025 | unknown | n/a | unstated | 4 |
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| M••••• S•••••• D••••• L•••••• F••• | revolver first lien F•••• L••• D••• C••••••••• T••• R••••••• C••••••••• E••••••••• D••• 06/28/2029 | n/a | n/a | |
| M••••• S•••••• D••••• L•••••• F••• | term loan first lien Investment F•••• L••• D••• R•••••••• R••• and S••••• S + 5.50% I••••••• R••• 9.23% M•••••• | $5.9M | $5.8M 99c | SOFR+6 bp |
| M••••• S•••••• D••••• L•••••• F••• | term loan first lien Investment F•••• L••• D••• R•••••••• R••• and S••••• S + 5.50% I••••••• R••• 9.23% M•••••• | $0 | $-6,000 150c | SOFR+6 bp |
| N•••• H•••• P•••••• I••••• F••• L•• | term loan first lien Investment F•••• L••• D••• R•••••••• R••• & S••••• S + 5.50% I••••••• R••• 9.23% M••••••• | $0 | $-77,000 148c | SOFR+550 bp |
| N•••• H•••• P•••••• I••••• F••• L•• | term loan first lien Investment F•••• L••• D••• R•••••••• R••• & S••••• S + 5.50% I••••••• R••• 9.23% M••••••• | $63.1M | $61.8M 99c | SOFR+550 bp |
| N•••• H•••• P•••••• I••••• F••• L•• | revolver first lien F•••• L••• D••• C••••••••• T••• R••••••• C••••••••• E••••••••• D••• 06/28/2029 | n/a | n/a | |
| T• S••••• B•• L•• | term loan first lien F•••• L••• D••• R•••••••• R••• and S••••• S + 5.50% I••••••• R••• 9.23% M••••••• D••• 06/2 | $0 | $-18,000 150c | SOFR+550 bp |
| T• S••••• B•• L•• | term loan first lien F•••• L••• D••• R•••••••• R••• and S••••• S + 5.50% I••••••• R••• 9.23% M••••••• D••• 06/2 | $14.1M | $13.8M 99c | SOFR+550 bp |
| T• S••••• B•• L•• | revolver first lien F•••• L••• D••• C••••••••• T••• R••••••• C••••••••• E••••••••• D••• 06/28/2029 | n/a | n/a |
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 | 3 | $83.1M | $81.3M | 99c | 0 |
| Mar 31, 2026 | 3 | $83.1M | $81.3M | 99c | 0 |
| Dec 31, 2025 | 3 | $83.1M | $83.1M | 102c | 0 |
| Sep 30, 2025 | 3 | $83.1M | $83.1M | 102c | 6 |
| Jun 30, 2025 | 3 | $83.1M | $83.1M | 102c | 6 |
| Mar 31, 2025 | 3 | $82.6M | $82.6M | 102c | 6 |
| Dec 31, 2024 | 3 | $164M | $164M | 102c | 12 |
| Sep 30, 2024 | 3 | $81.7M | $81.2M | 102c | 6 |
| Jun 30, 2024 | 3 | $80.2M | $79.5M | 102c | 9 |
| Mar 31, 2024 | 4 | $75.6M | $74.4M | 101c | 8 |
| Dec 31, 2023 | 4 | $75.0M | $73.6M | 101c | 8 |
| Sep 30, 2023 | 4 | $74.5M | $72.8M | 101c | 8 |
| Jun 30, 2023 | 4 | $74.0M | $71.8M | 100c | 0 |
What changed
- Facility left every BDC scheduleJun 30, 2025
- Lender left a facilityJun 30, 2025
- New lender joined a facilityDec 31, 2024
- New lender joined a facilityDec 31, 2024
- Facility left every BDC scheduleDec 31, 2024
- Spread increasedDec 31, 2024
- Spread increasedDec 31, 2024
- New lender joined a facilityDec 31, 2024
- New lender joined a facilityDec 31, 2024
- Spread changed (observed)Sep 30, 2024
- Spread changed (observed)Sep 30, 2024
- Lender left a facilityJun 30, 2024
- New lender joined a facilityJun 30, 2024
- PIK interest appearsSep 30, 2023
- PIK interest appearsSep 30, 2023
- PIK interest appearsSep 30, 2023
- PIK interest appearsSep 30, 2023
- New borrower on a BDC scheduleJun 30, 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
- CYARAderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 4 BDCsderived
- Industry
- Softwarereportedas one filer wrote it