DFX Intelligence
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Borrower
I•• N•• S•• 2• L••
Energy: Electricitygroup grade Aon a schedule nowsponsor unattributed
Also written as: First Lien; First Lien - Undrawn
Principal held
at least $841M
sum of BDC pieces, a lower bound
Fair value
$828M
100c on cost, debt pieces
Unfunded
$171M
commitments not yet drawn
BDC lenders
8
7 on the latest quarter
Facilities
5
0 equity pieces beside them
Next maturity
Dec 1, 2027
$4.9M inside 24 months
On the tape since
Sep 30, 2024
latest Jun 30, 2026
Events
4
dated, non-routine
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| delayed draw term loan lien unstated | at least $757M | 100c | S+475 bp | Dec 3, 2031 | 3 |
| first lien term loan first lien | at least $83.9M | 100c | S+475 bp | Dec 3, 2031 | 5 |
| second lien delayed draw term loan second lien | unknown | n/a | unstated | 2 | |
| second lien revolver second lien exited Dec 31, 2025 | unknown | n/a | unstated | 1 | |
| other lien unstated exited Mar 31, 2025 | unknown | n/a | unstated | 3 |
Lenders
every BDC piece at the latest quarter end, largest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••••••••• P•••••• C••••• F••• | delayed draw term loan lien unstated N••••••••• I••••• | $643M | $636M 100c | S+475 bp |
| B••••••••• S•••••• L•••••• F••• | delayed draw term loan lien unstated N••••••••• I••••• | $114M | $113M 100c | S+475 bp |
| C•••••• C••••• S••••••••• I••• | term loan first lien Investment | N••••••••• I••••• | F•••• L••• D••• | $19.7M | $19.6M 100c | S+475 bp |
| C•••••• S•••••• L••••••• I••• | term loan first lien Credit Fund | F•••• L••• D••• | $19.7M | $19.6M 100c | S+475 bp |
| N•• M••••••• G••••••• I• B••• L••••• | term loan first lien F•••• L••• | $15.2M | $15.1M 100c | S+475 bp |
View all 16 positions across 7 lendersShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| N•• M••••••• P•••••• C••••• F••• | term loan first lien F•••• L••• | N••••••••• I••••• | $14.3M | $14.3M 100c | S+475 bp |
| N•• S•• I• I••• | term loan first lien F•••• L••• | N••••••••• I••••• | $10.1M | $10.1M 100c | S+475 bp |
| N•• M••••••• G••••••• I• B••• L••••• | term loan first lien F•••• L••• - U•••••• | $3.0M | $-7,000 | S+475 bp |
| N•• S•• I• I••• | term loan first lien F•••• L••• - U•••••• | N••••••••• I••••• | $2.0M | $5,000 | S+475 bp |
| C•••••• S•••••• L••••••• I••• | term loan first lien Investment | N••••••••• I••••• | F•••• L••• D••• | $0 | $-16,000 94c | S+475 bp |
| B••••••••• P•••••• C••••• F••• | delayed draw term loan lien unstated D•••••• D••• T••• L••• 1 | Not disclosed | Not disclosed | S+475 bp |
| B••••••••• P•••••• C••••• F••• | delayed draw term loan lien unstated D•••••• D••• T••• L••• 2 | Not disclosed | Not disclosed | S+475 bp |
| B••••••••• S•••••• L•••••• F••• | delayed draw term loan lien unstated D•••••• D••• T••• L••• 1 | Not disclosed | Not disclosed | S+475 bp |
| B••••••••• S•••••• L•••••• F••• | delayed draw term loan lien unstated D•••••• D••• T••• L••• 2 | Not disclosed | Not disclosed | S+475 bp |
| C•••••• C••••• S••••••••• I••• | delayed draw term loan second lien Investments | N••••••••• I••••• | F•••• and S••••• L••• D••• | D•••••• D••• | Not disclosed | Not disclosed | |
| C•••••• S•••••• L••••••• I••• | delayed draw term loan second lien Investments | N••••••••• | F•••• and S••••• L••• D••• | D•••••• D••• | Not disclosed | Not disclosed |
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 | 7 | $841M | $828M | 100c | 0 |
| Mar 31, 2026 | 7 | $846M | $834M | 100c | 0 |
| Dec 31, 2025 | 7 | $866M | $850M | 100c | 0 |
| Sep 30, 2025 | 3 | $431M | $421M | 101c | 0 |
All 8 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 3 | $432M | $422M | 101c | 0 |
| Mar 31, 2025 | 3 | $433M | $420M | 101c | 0 |
| Dec 31, 2024 | 3 | $912M | $878M | 101c | 0 |
| Sep 30, 2024 | 3 | $433M | $417M | 100c | 0 |
What changed
- New lender joined a facilityMar 31, 2026
- Maturity extended (observed)Dec 31, 2025
- Maturity extended (observed)Dec 31, 2025
- Facility left every BDC scheduleDec 31, 2025
- Maturity extended (observed)Dec 31, 2025
Full timeline · 12 eventsShow fewer
- Lender left a facilitySep 30, 2025
- Lender left a facilityMar 31, 2025
- Facility left every BDC scheduleMar 31, 2025
- New lender joined a facilityDec 31, 2024
- New borrower on a BDC scheduleSep 30, 2024
- Lender left a facilitySep 30, 2024
- Lender left a facilitySep 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
- IEM NEWderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 8 BDCsderived
- Industry
- Energy: Electricityreportedas one filer wrote it