DFX Intelligence
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Borrower
C••••••••• H•••••••• I••
Telecommunication Servicesgroup grade Aon a schedule nowsponsor unattributed
Also written as: IT Consulting & Other Services
What matters now
- 63¢ → 24¢consensus mark
Consensus mark 24¢ on cost, down from 63¢ a year ago, 47¢ last quarter.
Q2 2026 · The lenders' own valuations, the most direct read of what they expect to recover.
Derived1 of 1 lender' own marks, weighted by principal - $935Kprincipal outstanding
$935K principal held by 1 lender; matures Jun 2030.
Q2 2026 · Refinancing is due in 44 months at a 24¢ mark.
FactBDC schedules of investments, 30 Jun 2026; a sum of the BDCs' pieces, a lower bound - 47¢ → 24¢-23 pts, one lender
O••••• S••••• C•••••• C•••• marked it 47¢ → 24¢, the largest move among 1 lender this quarter.
Q2 2026 · One holder repriced far more than the rest.
Mark path, consensus per quarter end
63¢ · 54¢ · 42¢ · 47¢ · 24¢Q2 2025 to Q2 2026
Principal held
at least $934,808
sum of BDC pieces, a lower bound
Fair value
$228,415
24c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
5
1 on the latest quarter
Facilities
2
1 equity pieces beside them
Next maturity
Jun 4, 2030
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
12
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•••••• C•••• | $935K | 24¢ | -23 pts |
Every BDC piece · 2 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| O••••• S••••• C•••••• C•••• | term loan first lien S••••• S•••••• N•••• first lien senior secured notes | $934,808 | $215,006 24c | S+575 bp |
| O••••• S••••• C•••••• C•••• | equity equity C••••• S•••• common stock | Not disclosed | $13,409 1c |
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 $934,808 | 24c | S+575 bp | Jun 4, 2030 | 4 |
| other lien unstated exited Sep 30, 2022 | at least $29.6M | 74c | S+500 bp | Jan 4, 2026 | 1 |
Equity pieces beside the debt: equity ($13,409 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 | $934,808 | $215,006 | 24c | 0 |
| Mar 31, 2026 | 1 | $934,808 | $420,664 | 47c | 0 |
| Dec 31, 2025 | 1 | $934,808 | $373,923 | 42c | 0 |
| Sep 30, 2025 | 1 | $934,808 | $481,426 | 54c | 0 |
All 13 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 1 | $934,808 | $560,885 | 63c | 0 |
| Dec 31, 2024 | 2 | $2.7M | $2.6M | 99c | 0 |
| Sep 30, 2024 | 1 | $1.7M | $1.7M | 102c | 0 |
| Dec 31, 2023 | 1 | $9.7M | $5.5M | 58c | 0 |
| Jun 30, 2023 | 2 | $22.4M | $14.3M | 72c | 0 |
| Mar 31, 2023 | 2 | $22.5M | $13.7M | 69c | 0 |
| Dec 31, 2022 | 1 | $11.9M | $7.0M | 60c | 0 |
| Sep 30, 2022 | 3 | $58.4M | $42.1M | 74c | 0 |
| Dec 31, 2021 | 1 | $31.8M | $29.6M | 103c | 0 |
What changed
- Marked down across lendersJun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Mark recoveredMar 31, 2026
- Marked down across lendersDec 31, 2025
- Marked down (one lender)Dec 31, 2025
Full timeline · 25 eventsShow fewer
- Marked down across lendersSep 30, 2025
- Marked down (one lender)Sep 30, 2025
- Marked down across lendersJun 30, 2025
- Marked down (one lender)Jun 30, 2025
- Lender left a facilityDec 31, 2024
- New lender joined a facilityDec 31, 2024
- Mark recoveredSep 30, 2024
- Spread changed (observed)Sep 30, 2024
- Maturity extended (observed)Sep 30, 2024
- Spread increasedSep 30, 2024
- Maturity extended (observed)Sep 30, 2024
- Spread changed (observed)Dec 31, 2023
- Lender left a facilityJun 30, 2023
- Lender left a facilityJun 30, 2023
- Mark recoveredMar 31, 2023
- Marked down (one lender)Mar 31, 2023
- Marked down across lendersDec 31, 2022
- Marked down (one lender)Dec 31, 2022
- Facility left every BDC scheduleSep 30, 2022
- Marked down (one lender)Sep 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
- CONVERGEONEderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 5 BDCsderived
- Industry
- Telecommunication Servicesreportedas one filer wrote it