DFX Intelligence
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Borrower
F••••• P••• L••
group grade Aon a schedule nowsponsor unattributed
Also written as: CION/EagleTree; LLC First and
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
100¢ · 100¢ · 100¢ · 101¢ · 101¢Q2 2025 to Q2 2026
Principal held
at least $51.4M
sum of BDC pieces, a lower bound
Fair value
$51.4M
101c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
3
1 on the latest quarter
Facilities
3
0 equity pieces beside them
Next maturity
Mar 21, 2030
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
10
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 |
|---|---|---|---|
| K•••••• L•••• C•••••• C• | $51.4M | 101¢ | 0 pts |
Every BDC piece · 1 position across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| K•••••• L•••• C•••••• C• | term loan first lien F•••• L••• D••• O••••••• P••••••• D••• 9/23/2025 S+6.25% I••••••• R••• 9.99% Due 3/21/2030 | $51.4M | $51.4M 101c | SOFR+625 bp |
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 $51.4M | 101c | SOFR+625 bp | Mar 21, 2030 | 1 |
| second lien term loan second lien exited Sep 30, 2025 | at least $48.3M | 100c | SOFR+650 bp | Mar 21, 2030 | 1 |
| other lien unstated exited Jun 30, 2025 | at least $31.4M | 100c | S+600 bp | Mar 21, 2030 | 1 |
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 | $51.4M | $51.4M | 101c | 0 |
| Mar 31, 2026 | 2 | $70.2M | $70.3M | 101c | 0 |
| Dec 31, 2025 | 2 | $119M | $118M | 100c | 0 |
| Sep 30, 2025 | 2 | $72.4M | $71.9M | 100c | 0 |
All 17 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 2 | $55.9M | $55.3M | 100c | 0 |
| Mar 31, 2025 | 2 | $56.7M | $56.1M | 100c | 0 |
| Dec 31, 2024 | 1 | $12.6M | $12.6M | 100c | 0 |
| Sep 30, 2024 | 1 | $15.2M | $15.2M | 100c | 0 |
| Jun 30, 2024 | 1 | $17.3M | $17.3M | 100c | 0 |
| Mar 31, 2024 | 1 | $18.1M | $18.1M | 100c | 0 |
| Dec 31, 2023 | 1 | $18.8M | $18.8M | 100c | 0 |
| Sep 30, 2023 | 1 | $19.6M | $19.6M | 100c | 0 |
| Jun 30, 2023 | 1 | $21.3M | $21.3M | 100c | 0 |
| Mar 31, 2023 | 1 | $23.5M | $23.5M | 100c | 0 |
| Dec 31, 2022 | 1 | $25.6M | $25.1M | 98c | 0 |
| Sep 30, 2022 | 1 | $27.0M | $26.4M | 98c | 0 |
| Dec 31, 2021 | 1 | $33.8M | $33.4M | 100c | 0 |
What changed
- Lender left a facilityMar 31, 2026
- New lender joined a facilityDec 31, 2025
- Facility left every BDC scheduleSep 30, 2025
- Spread changed (observed)Sep 30, 2025
- Maturity extended (observed)Sep 30, 2025
Full timeline · 16 eventsShow fewer
- Spread increasedSep 30, 2025
- Maturity extended (observed)Sep 30, 2025
- Facility left every BDC scheduleJun 30, 2025
- Spread changed (observed)Mar 31, 2025
- Spread changed (observed)Sep 30, 2023
- Maturity extended (observed)Sep 30, 2023
- Maturity extended (observed)Sep 30, 2023
- Spread changed (observed)Mar 31, 2023
- Spread increasedDec 31, 2022
- Spread changed (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
- F••••• P••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 3 BDCsderived