The capital structure graph behind private markets. Who lent, to whom, under which sponsor, through which facility, how large the piece was, when it matures and what changed, with a filing behind every number. A BDC piece is that BDC's piece, a sum of pieces is a lower bound, and a sponsor is named with the evidence that names it.

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Borrower

M••••••• C••••••••• L••

Telecommunicationsgroup grade Aon a schedule nowsponsor unattributed
Principal held
at least $45.7M
sum of BDC pieces, a lower bound
Fair value
$43.7M
96c on cost, debt pieces
Unfunded
n/a
commitments not yet drawn
BDC lenders
3
3 on the latest quarter
Facilities
4
0 equity pieces beside them
Next maturity
Jul 17, 2028
no dated debt inside 24 months
On the tape since
Sep 30, 2022
latest Jun 30, 2026
Events
5
dated, non-routine
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
FacilityHeldOn costPricingMaturityBDCs
first lien revolver first lienat least $20.7M93cSOFR+500 bpJul 17, 20282
first lien term loan first lienat least $17.9M99cSOFR+500 bpJul 17, 20282
first lien delayed draw term loan first lienat least $7.1M99cSOFR+510 bpJul 17, 20282
other lien unstated
exited Mar 31, 2026
unknown94cS+500 bpJul 17, 20281
Lenders
every BDC piece at the latest quarter end
BDCInstrumentPrincipalFair valueRate
B••• C•••••• S•••••••• F••••••• I•••revolver first lien
First Lien Senior Secured Loan - Revolver SOFR Floor 0.75% Spread 5.10% Interest Rate 8.74
$2.8M$2.8M
99c
SOFR+510 bp
B••• C•••••• S•••••••• F••••••• I•••term loan first lien
First Lien Senior Secured Loan SOFR Floor 0.75% Spread 5.10% Interest Rate 8.74% Maturity
$1.1M$1.1M
99c
SOFR+510 bp
B••• C•••••• S•••••••• F••••••• I•••delayed draw term loan first lien
First Lien Senior Secured Loan - Delayed Draw SOFR Floor 0.75% Spread 5.10% Interest Rate
$7.1M$6.9M
99c
SOFR+510 bp
B••• C•••••• S•••••••• F••••••• I•••term loan first lien
First Lien Senior Secured Loan SOFR Floor 0.75% Spread 5.10% Interest Rate 8.74% Maturity
$11.9M$11.7M
99c
SOFR+510 bp
H•• C•••••••• L•••••• F•••revolver first lien
Non-Affiliated Issuer
$13.5M$12.4M
92c
S+500 bp
H•• C•••••••• L•••••• F•••revolver first lien
Non-Affiliated Issuer
$1.1M$1.0M
92c
S+500 bp
H•• C•••••••• L•••••• F•••revolver first lien
Non-Affiliated Issuer
$380,000$348,000
93c
S+500 bp
H•• C•••••••• L•••••• F•••revolver first lien
Non-Affiliated Issuer
$2.9M$2.6M
92c
S+500 bp
S•••••••• P•••••• C••••• F••• L••term loan first lien
Term Loan | NCNA Debt Inv. | First Lien Senior Secured Loan | 07/17/2028 One
$3.2M$3.1M
99c
SOFR+500 bp
S•••••••• P•••••• C••••• F••• L••term loan first lien
Term Loan | NCNA Debt Inv. | First Lien Senior Secured Loan | 07/17/2028
$1.7M$1.7M
99c
SOFR+500 bp
Through time
the borrower's pieces summed across BDCs, every quarter end
Quarter endBDCsPrincipal heldFair valueOn costPIK pieces
Jun 30, 20263$45.7M$43.7M96c0
Mar 31, 20263$27.5M$27.1M99c0
Dec 31, 20253$49.3M$48.5M99c0
Sep 30, 20253$44.5M$43.2M98c0
Jun 30, 20253$44.6M$43.4M98c0
Mar 31, 20253$44.6M$43.9M99c0
Dec 31, 20243$72.5M$72.1M100c0
Sep 30, 20243$44.8M$44.5M100c0
Jun 30, 20243$44.1M$40.3M100c0
Mar 31, 20243$44.2M$39.8M98c0
Dec 31, 20233$59.3M$55.3M100c0
Sep 30, 20233$43.6M$39.9M101c0
Jun 30, 20232$37.3M$33.2M101c0
Mar 31, 20232$39.8M$35.1M101c0
Dec 31, 20222$57.8M$51.8M100c0
Sep 30, 20221$17.8M$17.4M100c0
What changed
Every change including routine ones
Identity
Group key
MERIPLEX COMMUNICATIONSderivedthe codename stem after legal suffixes and deal words
Spellings
1 across 3 BDCsderived
Industry
Telecommunicationsreportedas one filer wrote it