DFX Intelligence
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Borrower
D••••••••• C••••••• I••
Application Softwaregroup grade Aon a schedule nowsponsor unattributed
Also written as: and D••••••••• C••••••• I••
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
100¢ · 100¢ · 101¢ · 98¢ · 99¢Q2 2025 to Q2 2026
Principal held
at least $40.0M
sum of BDC pieces, a lower bound
Fair value
$39.6M
99c on cost, debt pieces
Unfunded
$0
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
1
2 equity pieces beside them
Next maturity
Apr 1, 2029
no dated debt inside 24 months
On the tape since
Dec 31, 2024
latest Jun 30, 2026
Events
1
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 |
|---|---|---|---|
| H••••••• C••••••• I••• | $40M | 99¢ | +1 pts |
Every BDC piece · 3 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| H••••••• C••••••• I••• | term loan first lien S••••• S••••••, A•••• 2029, P•••• + 3.00%, F•••• rate 10.25%, 4.50% E••• Fee | $40.0M | $39.3M 99c | S+300 bp |
| H••••••• C••••••• I••• | warrants equity W••••••, 4/21/2025, C••••• S•••• | Not disclosed | $280,000 156c | |
| H••••••• C••••••• I••• | unstated lien unstated | Not disclosed | Not disclosed |
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 $40.0M | 99c | S+300 bp | Apr 1, 2029 | 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 | $40.0M | $39.3M | 99c | 0 |
| Mar 31, 2026 | 1 | $25.0M | $24.4M | 98c | 0 |
| Dec 31, 2025 | 1 | $25.0M | $25.0M | 101c | 0 |
| Sep 30, 2025 | 1 | $25.0M | $24.7M | 100c | 0 |
All 6 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 1 | $25.0M | $24.7M | 100c | 0 |
| Dec 31, 2024 | 1 | $0 | $0 | n/a | 0 |
What changed
- New borrower on a BDC scheduleDec 31, 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
- D••••••••• C•••••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived
- Industry
- Application Softwarereportedas one filer wrote it