DFX Intelligence
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Borrower
D•••• G•••
group grade Bon a schedule nowsponsor unattributed
Also written as: D•••• G••• 1; D•••• G••• 2; D•••• G••• 3; D•••• G••• 4
What matters now
- 1 of 1 lenderon non-accrual
Non-accrual at 1 of 1 lender on the latest schedules.
Q1 2026 · Interest has stopped accruing; the lenders no longer expect to be paid in full.
FactBDC schedules of investments, 31 Mar 2026For restructuring advisers, special situations funds, the lenders' LPsSee every lender → - 40¢ → 38¢consensus mark
Consensus mark 38¢ on cost, down from 40¢ a year ago, 38¢ last quarter.
Q1 2026 · The lenders' own valuations, the most direct read of what they expect to recover.
Derived1 of 1 lender' own marks, weighted by principal - $1.59Mprincipal outstanding
$1.59M principal held by 1 lender.
Q1 2026 · The loss if the marks hold, spread across the holders below.
FactBDC schedules of investments, 31 Mar 2026; a sum of the BDCs' pieces, a lower bound
Mark path, consensus per quarter end
40¢ · 47¢ · 47¢ · 38¢ · 38¢Q1 2025 to Q1 2026
Principal held
at least $1.6M
sum of BDC pieces, a lower bound
Fair value
$585,000
38c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
2
1 equity pieces beside them
Next maturity
unstated
no dated debt inside 24 months
On the tape since
Dec 31, 2022
latest Mar 31, 2026
Events
4
dated, non-routine
Lender marks
each lender's own fair value over cost at Mar 31, 2026, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| T••••••••• P•••••• V•••••• C••••• I••• | $1.59M | 38¢ | 0 pts |
Every BDC piece · 4 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| T••••••••• P•••••• V•••••• C••••• I••• | term loan lien unstated Growth Capital L••• 1 | N••••••••• I••••• | $723,000 | $260,000 36c | |
| T••••••••• P•••••• V•••••• C••••• I••• | term loan lien unstated Growth Capital L••• 4 | N••••••••• I••••• | $529,000 | $195,000 39c | |
| T••••••••• P•••••• V•••••• C••••• I••• | term loan lien unstated Growth Capital L••• 2 | N••••••••• I••••• | $268,000 | $104,000 39c | |
| T••••••••• P•••••• V•••••• C••••• I••• | term loan lien unstated Growth Capital L••• 3 | N••••••••• I••••• | $69,000 | $26,000 39c |
Capital structure as the BDCs see it
latest quarter end Mar 31, 2026
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Mar 31, 2026 | 1 | $1.6M | $585,000 | 38c | 0 |
| Dec 31, 2025 | 1 | $3.2M | $1.2M | 38c | 0 |
| Sep 30, 2025 | 1 | $1.6M | $733,000 | 47c | 0 |
| Jun 30, 2025 | 1 | $1.6M | $738,000 | 47c | 0 |
All 14 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Mar 31, 2025 | 1 | $1.6M | $630,000 | 40c | 0 |
| Dec 31, 2024 | 1 | $4.8M | $1.7M | 36c | 0 |
| Sep 30, 2024 | 1 | $1.6M | $559,000 | 36c | 0 |
| Jun 30, 2024 | 1 | $1.6M | $988,000 | 63c | 0 |
| Mar 31, 2024 | 1 | $1.6M | $997,000 | 64c | 0 |
| Dec 31, 2023 | 1 | $1.6M | $854,000 | 55c | 0 |
| Sep 30, 2023 | 1 | $0 | $0 | n/a | 0 |
| Jun 30, 2023 | 1 | $0 | $0 | n/a | 0 |
| Mar 31, 2023 | 1 | $0 | $0 | n/a | 0 |
| Dec 31, 2022 | 1 | $1.1M | $1.0M | 101c | 0 |
What changed
- Facility left every BDC scheduleMar 31, 2026
- Marked down across lendersDec 31, 2025
- Marked down (one lender)Dec 31, 2025
- Mark recoveredJun 30, 2025
- Facility left every BDC scheduleDec 31, 2024
Full timeline · 6 eventsShow fewer
- Marked down (one lender)Sep 30, 2024
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- DANCE #DEderivedthe codename stem after legal suffixes and deal words
- Spellings
- 5 across 1 BDCderived