DFX Intelligence
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Borrower
S••••••• O• H•••• L••
Also written as: 074; 1; 786
What matters now
- 1 of 1 lenderon non-accrual
Non-accrual at 1 of 1 lender on the latest schedules.
Q2 2026 · Interest has stopped accruing; the lenders no longer expect to be paid in full.
FactBDC schedules of investments, 30 Jun 2026For restructuring advisers, special situations funds, the lenders' LPsSee every lender → - 89¢ → 69¢consensus mark
Consensus mark 69¢ on cost, down from 89¢ a year ago, 42¢ 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 - $54.3Mprincipal outstanding
$54.3M principal held by 1 lender; matures Dec 2029.
Q2 2026 · Refinancing is due in 39 months at a 69¢ mark.
FactBDC schedules of investments, 30 Jun 2026; a sum of the BDCs' pieces, a lower bound - 42¢ → 69¢+27 pts, one lender
C•••••• S•••••••• C••• marked it 42¢ → 69¢, the largest move among 1 lender this quarter.
Q2 2026 · One holder repriced far more than the rest.
Mark path, consensus per quarter end
89¢ · 74¢ · 71¢ · 42¢ · 69¢Q2 2025 to Q2 2026
Principal held
at least $54.3M
sum of BDC pieces, a lower bound
Fair value
$22.1M
41c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
1
2 equity pieces beside them
Next maturity
Dec 31, 2029
no dated debt inside 24 months
On the tape since
Sep 30, 2022
latest Jun 30, 2026
Events
11
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 |
|---|---|---|---|
| C•••••• S•••••••• C••• | $54.3M | 69¢ | +27 pts |
Every BDC piece · 8 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| C•••••• S•••••••• C••• | term loan first lien F•••• L••• - T•••••• B T••• L••• | $11.1M | $0 0c | 8.00% PIK 8.00% |
| C•••••• S•••••••• C••• | term loan first lien F•••• L••• - T•••••• A T••• L••• | $11.1M | $6.1M | |
| C•••••• S•••••••• C••• | term loan first lien F•••• L••• - T•••••• A T••• L••• | $11.1M | $6.1M 55c | 6.00% PIK 6.00% |
| C•••••• S•••••••• C••• | term loan first lien F•••• L••• - T•••••• B T••• L••• | $11.1M | $0 | |
| C•••••• S•••••••• C••• | term loan first lien F•••• L••• - S••••••••• T••• L••• | $4.9M | $4.9M 100c | 7.00% PIK 7.00% |
View all 8 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| C•••••• S•••••••• C••• | term loan first lien F•••• L••• - S••••••••• T••• L••• | $4.9M | $4.9M | |
| C•••••• S•••••••• C••• | equity equity C••••• U•••• | $0 | $0 | |
| C•••••• S•••••••• C••• | equity equity C••••• U•••• | Not disclosed | $0 0c |
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 $54.3M | 41c | 8.00% PIK 8.00% | Dec 31, 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 | $54.3M | $22.1M | 81c | 3 |
| Mar 31, 2026 | 1 | $26.6M | $22.5M | 85c | 3 |
| Dec 31, 2025 | 1 | $53.0M | $21.9M | 83c | 3 |
| Sep 30, 2025 | 1 | $51.7M | $21.6M | 84c | 3 |
All 16 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 1 | $50.7M | $25.2M | 99c | 3 |
| Mar 31, 2025 | 1 | $71.3M | $71.3M | 100c | 8 |
| Dec 31, 2024 | 1 | $22.7M | $13.8M | 61c | 2 |
| Sep 30, 2024 | 1 | $22.3M | $17.8M | 80c | 0 |
| Jun 30, 2024 | 1 | $22.4M | $18.4M | 82c | 0 |
| Mar 31, 2024 | 1 | $22.2M | $20.8M | 94c | 0 |
| Dec 31, 2023 | 1 | $22.2M | $20.9M | 95c | 0 |
| Sep 30, 2023 | 1 | $22.2M | $21.6M | 98c | 0 |
| Jun 30, 2023 | 1 | $22.3M | $21.9M | 99c | 0 |
| Mar 31, 2023 | 1 | $22.4M | $21.9M | 100c | 0 |
| Dec 31, 2022 | 1 | $17.2M | $16.9M | 100c | 0 |
| Sep 30, 2022 | 1 | $13.1M | $12.9M | 100c | 0 |
What changed
- 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
- PIK interest increasedMar 31, 2025
Full timeline · 21 eventsShow fewer
- Maturity extended (observed)Mar 31, 2025
- PIK interest increasedMar 31, 2025
- Maturity extended (observed)Mar 31, 2025
- PIK interest appearsDec 31, 2024
- Marked down across lendersDec 31, 2024
- Marked down (one lender)Dec 31, 2024
- PIK interest appearsDec 31, 2024
- Spread changed (observed)Jun 30, 2024
- Marked down across lendersJun 30, 2024
- Maturity extended (observed)Jun 30, 2024
- Marked down (one lender)Jun 30, 2024
- Spread increasedJun 30, 2024
- Maturity extended (observed)Jun 30, 2024
- Spread changed (observed)Jun 30, 2023
- Spread increasedJun 30, 2023
- New borrower on a BDC scheduleSep 30, 2022
Sponsor
- P••• T••• E••••• M••••••••• L•
- the sponsor's own portfolio page lists a company of this nameestimatedpinetreeequity.com"••• Locked"
Identity
- Group key
- S••••••• O• H•••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived