DFX Intelligence
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Borrower
P•••••• N•• M•••• 1• L••••••
group grade Aon a schedule nowsponsor unattributed
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
99¢ · 103¢ · 103¢ · 103¢ · 102¢Q1 2025 to Q1 2026
Principal held
at least $5.1M
sum of BDC pieces, a lower bound
Fair value
$5.1M
102c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
1
0 equity pieces beside them
Next maturity
unstated
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Mar 31, 2026
Events
5
dated, non-routine
Lender marks
each lender's own fair value over cost at Mar 31, 2026, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| B•••••• B••• I••• | $4.47M | 103¢ | -1 pts |
| B•••••• P•••••• C••••• C••• | $597K | 98¢ | -1 pts |
Every BDC piece · 4 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B•••••• B••• I••• | term loan first lien F•••• L••• S••••• S•••••• T••• L••• 2 | $2.4M | $2.4M 100c | S+550 bp |
| B•••••• B••• I••• | term loan first lien F•••• L••• S••••• S•••••• T••• L••• 1 | $2.1M | $2.1M 106c | S+550 bp |
| B•••••• P•••••• C••••• C••• | term loan first lien F•••• L••• S••••• S•••••• T••• L••• 2 | $320,000 | $320,000 100c | S+550 bp |
| B•••••• P•••••• C••••• C••• | term loan first lien F•••• L••• S••••• S•••••• T••• L••• 1 | $277,000 | $277,000 96c | S+550 bp |
Capital structure as the BDCs see it
latest quarter end Mar 31, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Mar 31, 2026 | at least $5.1M | 102c | S+550 bp | unstated | 2 |
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Mar 31, 2026 | 2 | $5.1M | $5.1M | 102c | 0 |
| Dec 31, 2025 | 2 | $5.1M | $5.1M | 103c | 0 |
| Sep 30, 2025 | 2 | $5.1M | $5.1M | 103c | 0 |
| Jun 30, 2025 | 2 | $5.1M | $5.1M | 103c | 0 |
All 16 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Mar 31, 2025 | 2 | $4.9M | $4.9M | 99c | 0 |
| Dec 31, 2024 | 2 | $10.6M | $10.6M | 98c | 0 |
| Sep 30, 2024 | 2 | $5.5M | $5.4M | 100c | 0 |
| Jun 30, 2024 | 2 | $5.4M | $5.3M | 98c | 0 |
| Mar 31, 2024 | 2 | $5.9M | $5.8M | 98c | 0 |
| Dec 31, 2023 | 2 | $6.3M | $6.2M | 99c | 0 |
| Sep 30, 2023 | 2 | $6.3M | $6.0M | 95c | 0 |
| Jun 30, 2023 | 2 | $6.0M | $5.7M | 96c | 0 |
| Mar 31, 2023 | 2 | $6.4M | $6.1M | 96c | 0 |
| Dec 31, 2022 | 2 | $7.0M | $6.6M | 95c | 0 |
| Sep 30, 2022 | 1 | $6.1M | $5.9M | 94c | 0 |
| Dec 31, 2021 | 1 | $7.0M | $6.7M | 99c | 0 |
What changed
- Facility left every BDC scheduleMar 31, 2026
- Spread changed (observed)Jun 30, 2025
- Spread changed (observed)Mar 31, 2025
- New lender joined a facilityDec 31, 2022
- Marked down across lendersSep 30, 2022
Full timeline · 7 eventsShow fewer
- Marked down (one lender)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
- PATRIOT NEWderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived