DFX Intelligence
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Borrower
T•••••• A••••••••• I••
Motorcycle, Bicycle, and Parts Manufacturing IR 9.74%group grade Aon a schedule nowsponsor unattributed
What matters now
- 90¢ → 60¢consensus mark
Consensus mark 60¢ on cost, down from 90¢ a year ago, 64¢ last quarter.
Q2 2026 · The lenders' own valuations, the most direct read of what they expect to recover.
Derived1 of 2 lenders' own marks, weighted by principal - $1.33Mprincipal outstanding
$1.33M principal held by 2 lenders; matures Oct 2027.
Q2 2026 · Refinancing is due in 13 months at a 60¢ mark.
FactBDC schedules of investments, 30 Jun 2026; a sum of the BDCs' pieces, a lower bound
Mark path, consensus per quarter end
90¢ · 89¢ · 71¢ · 64¢ · 60¢Q2 2025 to Q2 2026
Principal held
at least $1.3M
sum of BDC pieces, a lower bound
Fair value
$789,369
60c on cost, debt pieces
Unfunded
$614,529
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
Oct 14, 2027
$1.3M inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
17
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•••••• P••• C•••••••• I•••••• I••• | $1.33M | 60¢ | -4 pts |
| O•• C•••••• C••• | no principal filed | no cost filed | no comparable mark |
Every BDC piece · 4 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| H•••••• P••• C•••••••• I•••••• I••• | revolver first lien F•••• L••• D••• (R•••••••) I••••••• M•••••••••, B••••••, and P•••• M••••••••• IR 9.74% cas | $1.2M | $757,428 61c | SOFR+600 bp PIK 1.25% |
| H•••••• P••• C•••••••• I•••••• I••• | revolver first lien F•••• L••• D••• (R•••••••) I••••••• M•••••••••, B••••••, and P•••• M••••••••• IR 9.74% S•• | $83,824 | $31,941 38c | SOFR+600 bp |
| H•••••• P••• C•••••••• I•••••• I••• | revolver first lien F•••• L••• D••• (R•••••••) | Not disclosed | Not disclosed | S+600 bp |
| O•• C•••••• C••• | revolver first lien F•••• L••• D••• (R•••••••) | 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 revolver first lien | at least $1.3M | 60c | SOFR+600 bp PIK 1.25% | Oct 14, 2027 | 2 |
| first lien term loan first lien exited Mar 31, 2026 | at least $15.7M | 66c | SOFR+600 bp PIK 1.25% | Oct 14, 2027 | 2 |
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 | 2 | $1.3M | $789,369 | 60c | 1 |
| Mar 31, 2026 | 2 | $16.5M | $10.4M | 64c | 2 |
| Dec 31, 2025 | 2 | $33.9M | $24.0M | 71c | 5 |
| Sep 30, 2025 | 2 | $16.1M | $14.2M | 89c | 2 |
All 17 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 2 | $15.9M | $14.2M | 90c | 2 |
| Mar 31, 2025 | 2 | $17.7M | $16.6M | 94c | 2 |
| Dec 31, 2024 | 2 | $51.8M | $48.9M | 95c | 5 |
| Sep 30, 2024 | 2 | $17.6M | $16.6M | 95c | 2 |
| Jun 30, 2024 | 2 | $16.9M | $16.0M | 95c | 2 |
| Mar 31, 2024 | 2 | $17.3M | $16.0M | 93c | 0 |
| Dec 31, 2023 | 2 | $17.3M | $16.0M | 93c | 0 |
| Sep 30, 2023 | 2 | $17.3M | $16.2M | 94c | 0 |
| Jun 30, 2023 | 2 | $16.7M | $16.2M | 97c | 0 |
| Mar 31, 2023 | 2 | $17.3M | $16.7M | 97c | 0 |
| Dec 31, 2022 | 2 | $50.6M | $50.6M | 100c | 0 |
| Sep 30, 2022 | 1 | $15.5M | $15.5M | 100c | 0 |
| Dec 31, 2021 | 1 | $30.5M | $30.3M | 100c | 0 |
What changed
- Maturity approachingOct 14, 2027
- PIK interest appearsJun 30, 2026
- Mark recoveredJun 30, 2026
- PIK interest appearsJun 30, 2026
- Marked down across lendersMar 31, 2026
Full timeline · 30 eventsShow fewer
- Facility left every BDC scheduleMar 31, 2026
- Marked down across lendersMar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down across lendersDec 31, 2025
- Marked down across lendersDec 31, 2025
- Marked down (one lender)Dec 31, 2025
- Marked down (one lender)Dec 31, 2025
- Marked down (one lender)Dec 31, 2025
- Marked down (one lender)Dec 31, 2025
- Mark recoveredSep 30, 2025
- Marked down across lendersJun 30, 2025
- Marked down (one lender)Jun 30, 2025
- Marked down (one lender)Jun 30, 2025
- Mark recoveredSep 30, 2024
- PIK interest appearsJun 30, 2024
- Mark recoveredJun 30, 2024
- PIK interest appearsJun 30, 2024
- PIK interest appearsJun 30, 2024
- Marked down across lendersMar 31, 2023
- Spread changed (observed)Mar 31, 2023
- Marked down (one lender)Mar 31, 2023
- Marked down (one lender)Mar 31, 2023
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- TOLEMARderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived
- Industry
- Motorcycle, Bicycle, and Parts Manufacturing IR 9.74%reportedas one filer wrote it