DFX Intelligence
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Borrower
O••••• C•••• E•••••• L••
Independent Power and Renewable Electricity Producersgroup grade Aoff every schedule since Dec 31, 2025sponsor unattributed
Also written as: First and
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
101¢ · 101¢ · 101¢ · 101¢ · 101¢Q4 2024 to Q4 2025
Principal held
at least $6.6M
sum of BDC pieces, a lower bound
Fair value
$6.7M
101c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
Jul 12, 2030
no dated debt inside 24 months
On the tape since
Jun 30, 2024
latest Dec 31, 2025
Events
3
dated, non-routine
Lender marks
each lender's own fair value over cost at Dec 31, 2025, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| P••••• S••••• C•••••• B•• I••• | $3.87M | 101¢ | 0 pts |
| K•••••• L•••• C•••••• C• | $2.78M | 101¢ | 0 pts |
Every BDC piece · 3 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| K•••••• L•••• C•••••• C• | term loan first lien F•••• L••• D••• O••••••• P••••••• D••• 6/26/2024 S+3.50% I••••••• R••• 7.18% Due 7/12/2030 | $2.8M | $2.8M 101c | SOFR+350 bp |
| P••••• S••••• C•••••• B•• I••• | term loan first lien Investment F•••• L••• S••••• S•••••• L••• I••••••• R••• 7.17% (S + 3.50%) M••••••• D••• 7/ | $1.9M | $1.9M 101c | SOFR+350 bp |
| P••••• S••••• C•••••• B•• I••• | term loan first lien F•••• L••• S••••• S•••••• I••••••• I••••••••• P•••• and R•••••••• E••••••••• P•••••••• I•• | $1.9M | $1.9M 101c | SOFR+350 bp |
Capital structure as the BDCs see it
latest quarter end Dec 31, 2025
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Dec 31, 2025 | at least $6.6M | 101c | SOFR+350 bp | Jul 12, 2030 | 2 |
| second lien term loan second lien exited Sep 30, 2025 | at least $2.9M | 101c | SOFR+350 bp | Jul 12, 2030 | 1 |
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Dec 31, 2025 | 2 | $6.6M | $6.7M | 101c | 0 |
| Sep 30, 2025 | 2 | $5.0M | $5.0M | 101c | 0 |
| Jun 30, 2025 | 2 | $5.4M | $5.4M | 101c | 0 |
| Mar 31, 2025 | 2 | $5.4M | $5.4M | 101c | 0 |
All 7 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Dec 31, 2024 | 2 | $8.9M | $8.9M | 101c | 0 |
| Sep 30, 2024 | 2 | $5.7M | $5.7M | 101c | 0 |
| Jun 30, 2024 | 1 | $5.0M | $5.0M | 101c | 0 |
What changed
- Facility left every BDC scheduleDec 31, 2025
- Facility left every BDC scheduleSep 30, 2025
- New lender joined a facilityDec 31, 2024
- New borrower on a BDC scheduleJun 30, 2024
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- O••••• C•••• E•••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived
- Industry
- Independent Power and Renewable Electricity Producersreportedas one filer wrote it