DFX Intelligence
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Borrower
P••••••••• F••••••• L•••••• L••
group grade Aon a schedule nowsponsor unattributed
Also written as: PFL MMA LLC
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
101¢ · 100¢ · 100¢ · 100¢ · 100¢Q2 2025 to Q2 2026
Principal held
at least $14.5M
sum of BDC pieces, a lower bound
Fair value
$14.4M
100c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
4
3 equity pieces beside them
Next maturity
Jan 1, 2029
no dated debt inside 24 months
On the tape since
Sep 30, 2022
latest Jun 30, 2026
Events
6
dated, non-routine
Lender marks
each lender's own fair value over cost at Jun 30, 2026, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| A••• C•••••• C••• | $14.5M | 100¢ | 0 pts |
Every BDC piece · 3 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A••• C•••••• C••• | term loan first lien F•••• lien senior secured loan | $14.2M | $14.2M 100c | PIK 14.00% |
| A••• C•••••• C••• | term loan unsecured or subordinated S••••• subordinated loan | $300,000 | $200,000 100c | PIK 8.00% |
| A••• C•••••• C••• | warrants equity W•••••• to purchase common units | Not disclosed | $0 |
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 $14.2M | 100c | PIK 14.00% | Jan 1, 2029 | 1 |
| unsecured or subordinated term loan unsecured or subordinated | at least $300,000 | 100c | PIK 8.00% | Jan 1, 2036 | 1 |
| second lien term loan second lien exited Dec 31, 2025 | at least $300,000 | 100c | PIK 16.00% | Jan 1, 2026 | 1 |
| term loan lien unstated exited Mar 31, 2026 | at least $300,000 | 100c | PIK 8.00% | Jan 1, 2036 | 1 |
Equity pieces beside the debt: warrants ($0 fair value, 1 BDC), preferred equity ($0 fair value, 1 BDC), other (Not disclosed 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 |
|---|---|---|---|---|---|
| Jun 30, 2026 | 1 | $14.5M | $14.4M | 100c | 2 |
| Mar 31, 2026 | 1 | $13.6M | $13.5M | 100c | 2 |
| Dec 31, 2025 | 1 | $25.8M | $25.7M | 100c | 2 |
| Sep 30, 2025 | 1 | $24.8M | $24.8M | 100c | 2 |
All 16 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 1 | $24.0M | $24.0M | 101c | 2 |
| Mar 31, 2025 | 1 | $23.1M | $23.1M | 101c | 2 |
| Dec 31, 2024 | 1 | $22.4M | $22.4M | 102c | 2 |
| Sep 30, 2024 | 1 | $21.6M | $21.6M | 103c | 2 |
| Jun 30, 2024 | 1 | $20.8M | $20.8M | 103c | 2 |
| Mar 31, 2024 | 1 | $20.1M | $20.1M | 103c | 2 |
| Dec 31, 2023 | 1 | $19.5M | $19.5M | 104c | 2 |
| Sep 30, 2023 | 1 | $18.9M | $18.9M | 105c | 2 |
| Jun 30, 2023 | 1 | $18.4M | $18.4M | 106c | 2 |
| Mar 31, 2023 | 1 | $17.9M | $17.8M | 107c | 2 |
| Dec 31, 2022 | 1 | $17.2M | $17.2M | 107c | 1 |
| Sep 30, 2022 | 1 | $16.6M | $15.8M | 102c | 1 |
What changed
- Maturity extended (observed)Mar 31, 2026
- Facility left every BDC scheduleMar 31, 2026
- Maturity extended (observed)Mar 31, 2026
- Facility left every BDC scheduleDec 31, 2025
- PIK interest increasedMar 31, 2024
Full timeline · 9 eventsShow fewer
- PIK interest increasedMar 31, 2024
- PIK interest increasedMar 31, 2024
- PIK interest increasedMar 31, 2024
- New borrower on a BDC scheduleSep 30, 2022
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- P••••••••• F••••••• L•••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived