DFX Intelligence
The names on this page are hidden. Create a free account to reveal 5 records a month, or get Private Credit Intelligence at $249 a month for every name. Every figure, date and source on this page is public either way.
Borrower
H••• L••••••• I••
Industrialsgroup grade Aoff every schedule since Jun 30, 2025sponsor unattributed
Also written as: H••• L•••••• T; HW L••••••; HW L•••••• T; L; L Incremental
Nothing material in the last 200 days. Last change: 30 Jun 2025, $51.8M principal held by 4 lenders; matures Jul 2027.
Mark path, consensus per quarter end
101¢ · 101¢ · 101¢ · 101¢ · 101¢Q2 2024 to Q2 2025
Where each lender marks it, 0 points apart
101¢101¢
Principal held
at least $51.8M
sum of BDC pieces, a lower bound
Fair value
$59.4M
101c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
5
4 on the latest quarter
Facilities
2
1 equity pieces beside them
Next maturity
Jul 2, 2027
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2025
Events
8
dated, non-routine
Lender marks
each lender's own fair value over cost at Jun 30, 2025, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| C••• I••••••••• C••• | $27.3M | 101¢ | 0 pts |
| B•• I••••••••• C••• | $17.4M | 101¢ | 0 pts |
| B• P••••••• L•••••• C••• | $7.08M | 101¢ | 0 pts |
| L•••••••• S••••• U••• I••• | no principal filed | 101¢ | 0 pts |
Every BDC piece · 10 positions across 4 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B•• I••••••••• C••• | term loan first lien F•••• L•••/S••••• S•••••• D••• I••••••• R••• 10.68% R•••••••• R••• and S••••• S••• + 6.25% | $17.4M | $17.4M 101c | SOFR+625 bp |
| C••• I••••••••• C••• | term loan first lien S••••• S•••••• F•••• L••• D•••, 7/2/2027 M•••••••, 1 | $16.2M | $16.2M 102c | S+625 bp |
| C••• I••••••••• C••• | term loan first lien S••••• S•••••• F•••• L••• D•••, 7/2/2027 M•••••••, 2 | $8.6M | $8.6M 100c | S+625 bp |
| B• P••••••• L•••••• C••• | term loan first lien S••••• S•••••• L••• Term L••• (E•••••• I•••••••••) I••••••••• I••••••• R••• 10.04% R•••••• | $2.9M | $2.9M 101c | SOFR+575 bp |
| C••• I••••••••• C••• | term loan first lien S••••• S•••••• F•••• L••• D•••, 7/2/2027 M•••••••, 3 | $2.5M | $2.5M 102c | S+625 bp |
View all 10 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B• P••••••• L•••••• C••• | term loan first lien S••••• S•••••• L••• I••••••• R••• 11.04% R•••••••• R••• and S••••• S + 6.75% F•••• 0.00% M | $2.1M | $2.1M 102c | SOFR+675 bp |
| B• P••••••• L•••••• C••• | term loan first lien S••••• S•••••• L••• I••••••• R••• 11.04% R•••••••• R••• and S••••• S + 6.75% F•••• 1.00% M | $2.0M | $2.0M 102c | SOFR+675 bp |
| B• P••••••• L•••••• C••• | term loan first lien S••••• S•••••• L••• I••••••• R••• 11.04% R•••••••• R••• and S••••• S + 6.75% F•••• 0.00% M | $87,000 | $87,000 101c | SOFR+675 bp |
| L•••••••• S••••• U••• I••• | term loan first lien F•••• lien senior secured loan 1 | Not disclosed | $4.0M 102c | S+625 bp |
| L•••••••• S••••• U••• I••• | term loan first lien F•••• lien senior secured loan 2 | Not disclosed | $3.7M 100c | S+625 bp |
Capital structure as the BDCs see it
latest quarter end Jun 30, 2025
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Jun 30, 2025 | at least $51.8M | 101c | SOFR+625 bp | Jul 2, 2027 | 5 |
| first lien revolver first lien exited Sep 30, 2024 | at least $8.0M | 99c | S+625 bp | Jul 2, 2027 | 1 |
Equity pieces beside the debt: other (Not disclosed 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, 2025 | 4 | $51.8M | $59.4M | 101c | 0 |
| Mar 31, 2025 | 5 | $54.5M | $62.1M | 101c | 0 |
| Dec 31, 2024 | 5 | $91.1M | $91.1M | 101c | 0 |
| Sep 30, 2024 | 5 | $51.2M | $66.8M | 101c | 0 |
All 13 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2024 | 5 | $51.3M | $66.8M | 101c | 0 |
| Mar 31, 2024 | 4 | $28.8M | $43.4M | 102c | 0 |
| Dec 31, 2023 | 5 | $47.4M | $59.9M | 100c | 0 |
| Sep 30, 2023 | 4 | $25.4M | $33.4M | 102c | 0 |
| Jun 30, 2023 | 4 | $24.0M | $31.8M | 101c | 0 |
| Mar 31, 2023 | 3 | $17.3M | $24.8M | 100c | 0 |
| Dec 31, 2022 | 2 | $20.3M | $19.7M | 100c | 0 |
| Sep 30, 2022 | 1 | $12.9M | $12.7M | 101c | 0 |
| Dec 31, 2021 | 1 | $13.0M | $12.6M | 100c | 0 |
What changed
- Facility left every BDC scheduleJun 30, 2025
- Spread changed (observed)Dec 31, 2024
- Facility left every BDC scheduleSep 30, 2024
- Spread changed (observed)Mar 31, 2024
- Spread changed (observed)Dec 31, 2023
Full timeline · 13 eventsShow fewer
- New lender joined a facilityDec 31, 2023
- Spread increasedSep 30, 2023
- Spread changed (observed)Jun 30, 2023
- New lender joined a facilityJun 30, 2023
- New lender joined a facilityMar 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
- H W LOCHNERderivedthe codename stem after legal suffixes and deal words
- Spellings
- 2 across 5 BDCsderived
- Industry
- Industrialsreportedas one filer wrote it