DFX Intelligence
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Borrower
N•••••• N••••••••• L••
Packaged Foods & Meatsgroup grade Aon a schedule nowsponsor unattributed
Also written as: LLC Term A-1 Loan; Packaged Foods & Meats
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
100¢ · 101¢ · 101¢ · 101¢ · 101¢Q2 2025 to Q2 2026
Where each lender marks it on the first lien term loan, 2 points apart
100¢102¢
Principal held
at least $125M
sum of BDC pieces, a lower bound
Fair value
$119M
101c on cost, debt pieces
Unfunded
$16.1M
commitments not yet drawn
BDC lenders
10
6 on the latest quarter
Facilities
6
0 equity pieces beside them
Next maturity
Apr 17, 2031
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
7
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 |
|---|---|---|---|
| O•••••• S•••••••• C••••• F••• | $66.5M | 100¢ | 0 pts |
| M••••• C•••••• I••••• P••• C••• | $39.2M | 101¢ | -1 pts |
| O•••••• S•••••••• L•••••• C••• | $13.2M | 100¢ | 0 pts |
| J•••••••• C••••• P••••••• B•• I••• | $3.6M | 101¢ | 0 pts |
| S••••• C••••• I••••••••• L•• | $1.19M | 101¢ | 0 pts |
View all 6 lendersShow fewerlargest exposure first
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| N••••• C•••••••• D••••• L•••••• C•••• | $993K | 101¢ | 0 pts |
Every BDC piece · 29 positions across 6 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| O•••••• S•••••••• C••••• F••• | term loan first lien F•••• L••• T••• L••• | $48.2M | $47.7M 100c | S+575 bp |
| M••••• C•••••• I••••• P••• C••• | term loan first lien S••••• S•••••• L•••• | $24.8M | $24.9M 102c | S+575 bp |
| O•••••• S•••••••• C••••• F••• | term loan first lien F•••• L••• T••• L••• 2 | $14.3M | $14.1M 100c | S+575 bp |
| O•••••• S•••••••• L•••••• C••• | term loan first lien F•••• L••• T••• L••• 2 | $9.6M | $9.5M 100c | S+575 bp |
| M••••• C•••••• I••••• P••• C••• | term loan first lien S••••• S•••••• L•••• | $7.4M | $7.4M 102c | S+575 bp |
View all 29 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| M••••• C•••••• I••••• P••• C••• | revolver first lien R•••••••) | S••••• S•••••• L•••• | $5.1M | $2.0M 100c | S+575 bp |
| O•••••• S•••••••• C••••• F••• | revolver first lien F•••• L••• R••••••• | $3.9M | $3.8M 100c | S+475 bp |
| J•••••••• C••••• P••••••• B•• I••• | term loan first lien T••• F•••• L••• T••• L••• R•••••••• R••• and S••••• S + 5.75% M••••••• D••• 4/17/2031 | $3.5M | $3.5M 101c | SOFR+575 bp |
| O•••••• S•••••••• L•••••• C••• | term loan first lien F•••• L••• T••• L••• 1 | $2.8M | $2.8M 100c | S+575 bp |
| M••••• C•••••• I••••• P••• C••• | delayed draw term loan first lien D•••••• D•••) | S••••• S•••••• L•••• | $2.0M | $0 | S+575 bp |
| S••••• C••••• I••••••••• L•• | term loan first lien T••• F•••• L••• T••• L••• R•••••••• R••• and S••••• S + 5.75% M••••••• D••• 4/17/2031 | $1.2M | $1.2M 101c | SOFR+575 bp |
| N••••• C•••••••• D••••• L•••••• C•••• | term loan first lien F•••• L••• D••• | $921,000 | $921,000 101c | S+575 bp |
| O•••••• S•••••••• L•••••• C••• | revolver first lien F•••• L••• R••••••• | $784,000 | $761,000 100c | S+475 bp |
| J•••••••• C••••• P••••••• B•• I••• | revolver first lien T••• F•••• L••• R••••••• R•••••••• R••• and S••••• P + 4.75% M••••••• D••• 4/17/2031 | $97,000 | $97,000 103c | Prime+475 bp |
| N••••• C•••••••• D••••• L•••••• C•••• | delayed draw term loan first lien F•••• L••• D••• (D•••••• D•••) | $72,000 | $0 | S+575 bp |
| S••••• C••••• I••••••••• L•• | revolver first lien T••• F•••• L••• R••••••• R•••••••• R••• and S••••• P + 4.75% M••••••• D••• 4/17/2031 | $32,000 | $32,000 103c | Prime+475 bp |
| J•••••••• C••••• P••••••• B•• I••• | delayed draw term loan first lien T••• F•••• L••• D•••••• D••• T••• L••• R•••••••• R••• and S••••• S + 5.75% M••••••• D••• 4 | $0 | $0 0c | SOFR+575 bp |
| O•••••• S•••••••• L•••••• C••• | term loan first lien F•••• L••• T••• L••• 3 | $0 | -$5,000 83c | S+575 bp |
| O•••••• S•••••••• C••••• F••• | term loan first lien F•••• L••• T••• L••• 1 | $0 | -$23,000 82c | S+575 bp |
| S••••• C••••• I••••••••• L•• | delayed draw term loan first lien T••• F•••• L••• D•••••• D••• T••• L••• R•••••••• R••• and S••••• S + 5.75% M••••••• D••• 4 | $0 | $0 0c | SOFR+575 bp |
| J•••••••• C••••• P••••••• B•• I••• | delayed draw term loan first lien Investment T••• F•••• L••• D•••••• D••• T••• L••• | Not disclosed | $0 | S+575 bp |
| J•••••••• C••••• P••••••• B•• I••• | revolver first lien Investment T••• F•••• L••• R••••••• | Not disclosed | $0 | S+475 bp |
| M••••• C•••••• I••••• P••• C••• | delayed draw term loan first lien D•••••• D•••) | Not disclosed | Not disclosed | |
| M••••• C•••••• I••••• P••• C••• | revolver first lien R•••••••) | Not disclosed | Not disclosed | |
| N••••• C•••••••• D••••• L•••••• C•••• | delayed draw term loan first lien D•••••• D••• L••• | Not disclosed | Not disclosed | |
| O•••••• S•••••••• L•••••• C••• | unstated lien unstated | Not disclosed | Not disclosed | |
| O•••••• S•••••••• C••••• F••• | unstated lien unstated | Not disclosed | Not disclosed | |
| S••••• C••••• I••••••••• L•• | revolver first lien Investment T••• F•••• L••• R••••••• | Not disclosed | $0 | S+475 bp |
| S••••• C••••• I••••••••• L•• | delayed draw term loan first lien Investment T••• F•••• L••• D•••••• D••• T••• L••• | Not disclosed | $0 | S+575 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 $113M | 101c | SOFR+575 bp | Apr 17, 2031 | 6 |
| first lien revolver first lien | at least $9.9M | 100c | Prime+475 bp | Apr 17, 2031 | 5 |
| first lien delayed draw term loan first lien | at least $2.0M | n/a | SOFR+575 bp | Apr 17, 2031 | 4 |
| other lien unstated | unknown | n/a | unstated | 2 | |
| revolver lien unstated exited Jun 30, 2025 | unknown | n/a | unstated | 1 |
All 6 facilitiesShow fewerheld first, largest first
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| delayed draw term loan lien unstated exited Jun 30, 2025 | unknown | n/a | unstated | 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 | 6 | $125M | $119M | 101c | 0 |
| Mar 31, 2026 | 6 | $124M | $118M | 101c | 0 |
| Dec 31, 2025 | 6 | $123M | $116M | 101c | 0 |
| Sep 30, 2025 | 6 | $122M | $115M | 101c | 0 |
All 17 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 6 | $124M | $116M | 100c | 0 |
| Mar 31, 2025 | 4 | $74.1M | $73.6M | 100c | 0 |
| Dec 31, 2024 | 5 | $159M | $158M | 100c | 0 |
| Sep 30, 2024 | 6 | $74.5M | $73.9M | 100c | 0 |
| Jun 30, 2024 | 4 | $74.7M | $73.7M | 99c | 0 |
| Mar 31, 2024 | 4 | $74.8M | $73.7M | 99c | 0 |
| Dec 31, 2023 | 4 | $75.0M | $74.0M | 99c | 0 |
| Sep 30, 2023 | 2 | $44.3M | $43.8M | 99c | 0 |
| Jun 30, 2023 | 3 | $75.3M | $74.6M | 100c | 0 |
| Mar 31, 2023 | 3 | $75.4M | $74.5M | 100c | 0 |
| Dec 31, 2022 | 3 | $75.6M | $74.5M | 100c | 0 |
| Sep 30, 2022 | 1 | $26.0M | $25.4M | 99c | 0 |
| Dec 31, 2021 | 1 | $27.3M | $26.7M | 101c | 0 |
What changed
- Spread changed (observed)Mar 31, 2026
- New lender joined a facilityDec 31, 2025
- Spread increasedSep 30, 2025
- Spread increasedSep 30, 2025
- Maturity extended (observed)Jun 30, 2025
Full timeline · 30 eventsShow fewer
- New lender joined a facilityJun 30, 2025
- New lender joined a facilityJun 30, 2025
- New lender joined a facilityJun 30, 2025
- New lender joined a facilityJun 30, 2025
- New lender joined a facilityJun 30, 2025
- New lender joined a facilityJun 30, 2025
- New lender joined a facilityJun 30, 2025
- Lender left a facilityJun 30, 2025
- Facility left every BDC scheduleJun 30, 2025
- New lender joined a facilityJun 30, 2025
- New lender joined a facilityJun 30, 2025
- Facility left every BDC scheduleJun 30, 2025
- Lender left a facilityMar 31, 2025
- Lender left a facilityMar 31, 2025
- Lender left a facilityMar 31, 2025
- Lender left a facilityMar 31, 2025
- New lender joined a facilitySep 30, 2024
- New lender joined a facilitySep 30, 2024
- New lender joined a facilityDec 31, 2023
- Maturity extended (observed)Dec 31, 2022
- Spread changed (observed)Dec 31, 2022
- New lender joined a facilityDec 31, 2022
- Spread increasedDec 31, 2022
- Maturity extended (observed)Dec 31, 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
- N•••••• N•••••••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 10 BDCsderived
- Industry
- Packaged Foods & Meatsreportedas one filer wrote it