DFX Intelligence
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Borrower
S•• R••••• A••••••••• I••
Softwaregroup grade Aoff every schedule since Mar 31, 2025sponsor unattributed
Also written as: Inc. Sr Secured
Principal held
at least $18.2M
sum of BDC pieces, a lower bound
Fair value
$18.0M
101c on cost, debt pieces
Unfunded
n/a
commitments not yet drawn
BDC lenders
3
2 on the latest quarter
Facilities
3
0 equity pieces beside them
Next maturity
Mar 31, 2027
$18.2M inside 24 months
On the tape since
Dec 31, 2022
latest Mar 31, 2025
Events
9
dated, non-routine
Capital structure as the BDCs see it
latest quarter end Mar 31, 2025
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Mar 31, 2025 | at least $18.0M | 101c | SOFR+550 bp | Mar 31, 2027 | 3 |
| first lien revolver first lien exited Dec 31, 2023 | at least $409,584 | 99c | S+700 bp | Mar 31, 2027 | 1 |
| revolver lien unstated exited Mar 31, 2025 | at least $197,187 | n/a | SOFR+550 bp | Mar 31, 2027 | 2 |
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B•••••••• D••••• L•••••• C•••• | term loan first lien F•••• L••• T••• L••• Ref S•••(S) F•••• 1.00% S••••• 5.50% T•••• C••••• 9.93% M••••••• 3/31 | $1.5M | $1.5M 101c | SOFR+550 bp |
| B•••••••• D••••• L•••••• C•••• | revolver lien unstated R••••••• Ref S•••(S) F•••• 1.00% S••••• 5.50% T•••• C••••• 9.93% M••••••• 3/31/2027 | $197,187 | n/a | SOFR+550 bp |
| B•••••••• D••••• L•••••• C•••• | term loan first lien F•••• L••• T••• L••• Ref S•••(S) F•••• 1.00% S••••• 5.50% T•••• C••••• 9.93% M••••••• 3/31 | $162,541 | $162,541 101c | SOFR+550 bp |
| B•••••••• T•• C•••••• C•••• | term loan first lien F•••• L••• T••• L••• Ref S•••(S) F•••• 1.00% S••••• 5.50% T•••• C••••• 9.93% M••••••• 3/31 | $1.6M | $1.6M 101c | SOFR+550 bp |
| B•••••••• T•• C•••••• C•••• | term loan first lien F•••• L••• T••• L••• Ref S•••(S) F•••• 1.00% S••••• 5.50% T•••• C••••• 9.93% M••••••• 3/31 | $14.7M | $14.7M 101c | SOFR+550 bp |
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, 2025 | 2 | $18.2M | $18.0M | 101c | 0 |
| Dec 31, 2024 | 2 | $19.6M | $19.6M | 101c | 0 |
| Sep 30, 2024 | 2 | $18.0M | $17.9M | 101c | 0 |
| Jun 30, 2024 | 2 | $18.0M | $17.8M | 101c | 0 |
| Mar 31, 2024 | 2 | $18.0M | $17.8M | 101c | 0 |
| Dec 31, 2023 | 3 | $19.6M | $19.3M | 99c | 0 |
| Sep 30, 2023 | 3 | $17.1M | $16.8M | 99c | 0 |
| Jun 30, 2023 | 3 | $16.2M | $15.9M | 109c | 0 |
| Mar 31, 2023 | 3 | $16.2M | $15.9M | 109c | 6 |
| Dec 31, 2022 | 3 | $23.7M | $23.2M | 99c | 10 |
What changed
- Facility left every BDC scheduleMar 31, 2025
- Lender left a facilityMar 31, 2025
- Lender left a facilityMar 31, 2025
- Facility left every BDC scheduleMar 31, 2025
- Spread changed (observed)Jun 30, 2024
- Spread changed (observed)Jun 30, 2024
- Spread changed (observed)Dec 31, 2023
- Facility left every BDC scheduleDec 31, 2023
- Spread increasedDec 31, 2023
- Spread increasedDec 31, 2023
- Spread changed (observed)Sep 30, 2023
- non accrual placedMar 31, 2023
- Marked down (one lender)Mar 31, 2023
- New borrower on a BDC scheduleDec 31, 2022
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- SEP RAPTORderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 3 BDCsderived
- Industry
- Softwarereportedas one filer wrote it