DFX Intelligence
Private Credit Intelligence
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Borrower
S•••• D•••••• S••••••• L••
Telecommunicationsgroup grade Aon a schedule nowsponsor unattributed
Also written as: 01; 2021; 23; 27; LLC - Funded; LLC - Unfunded; LLC Acquisition 12
Principal held
at least $90.5M
sum of BDC pieces, a lower bound
Fair value
$76.6M
100c 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
Dec 18, 2027
$90.5M inside 24 months
On the tape since
Sep 30, 2022
latest Jun 30, 2026
Events
17
dated, non-routine
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien | at least $83.5M | 100c | SOFR+640 bp | Dec 20, 2027 | 3 |
| first lien revolver first lien | at least $7.0M | 98c | SOFR+625 bp | Dec 20, 2027 | 3 |
| first lien delayed draw term loan first lien | at least $0 | n/a | SOFR+100 bp | Dec 18, 2027 | 1 |
| other lien unstated exited Mar 31, 2024 | at least $8.4M | 100c | S+715 bp | Dec 18, 2027 | 1 |
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| P••••••••• F••••••• R••• C•••••• L••• | term loan first lien First Lien Secured Debt Acquisition 12/27/2021 Maturity 12/20/2027 Industry Aerospace and | $20.3M | $20.1M 100c | SOFR+640 bp |
| P••••••••• F••••••• R••• C•••••• L••• | revolver first lien First Lien Secured Debt Revolver Acquisition 11/30/2021 Maturity 12/20/2027 Industry IT Se | $1.5M | $1.5M 99c | SOFR+625 bp |
| P••••••••• F••••••• R••• C•••••• L••• | term loan first lien First Lien Secured Debt Term Loan Acquisition 11/30/2021 Maturity 12/20/2027 Industry IT S | $5.0M | $0 | 0.00% |
| P••••••••• F••••••• R••• C•••••• L••• | term loan first lien First Lien Secured Debt Acquisition 11/30/2021 Maturity 12/20/2027 Industry IT Services Cu | $18.1M | $17.9M 100c | 10.14% |
| P••••••••• F••••••• R••• C•••••• L••• | revolver first lien First Lien Secured Debt Revolver Acquisition 11/30/2021 Maturity 12/20/2027 Industry IT Se | $1.8M | $-18,000 | 0.00% |
| P••••••••• I••••••••• C••• | revolver first lien First Lien Secured Debt Revolver Acquisition 11/30/2021 Maturity 12/20/2027 Industry Telec | $1.7M | $1.7M 99c | SOFR+625 bp |
| P••••••••• I••••••••• C••• | revolver first lien First Lien Secured Debt Revolver Acquisition 11/30/2021 Maturity 12/20/2027 Industry Telec | $2.0M | $-20,000 | 0.00% |
| P••••••••• I••••••••• C••• | term loan first lien First Lien Secured Debt Acquisition 12/01/23 Maturity 12/20/27 Industry Telecommunications | $26.6M | $26.3M 99c | SOFR+640 bp |
| P••••••••• I••••••••• C••• | term loan first lien First Lien Secured Debt Term Loan Acquisition 11/30/2021 Maturity 12/20/2027 Industry Tele | $4.3M | $0 | 0.00% |
| P••••••••• I••••••••• C••• | term loan first lien First Lien Secured Debt Acquisition 11/30/2021 Maturity 12/20/2027 Industry Telecommunicat | $7.0M | $7.0M 100c | SOFR+640 bp |
| S•••••••• P•••••• C••••• F••• L•• | delayed draw term loan first lien Delayed Draw Term A Loan | NCNA Debt Inv. | First Lien Senior Secured Loan | 12/18/2027 | $0 | $-16,000 229c | SOFR+100 bp |
| S•••••••• P•••••• C••••• F••• L•• | term loan first lien Term Loan | NCNA Debt Inv. | First Lien Senior Secured Loan | 12/18/2027 | $2.2M | $2.1M 97c | SOFR+625 bp |
| S•••••••• P•••••• C••••• F••• L•• | revolver first lien Revolving Loan | NCNA Debt Inv. | First Lien Senior Secured Loan | 12/18/2027 | $35,000 | $32,000 94c | SOFR+625 bp |
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 | 3 | $90.5M | $76.6M | 100c | 0 |
| Mar 31, 2026 | 3 | $101M | $86.0M | 100c | 0 |
| Dec 31, 2025 | 3 | $108M | $91.1M | 100c | 0 |
| Sep 30, 2025 | 3 | $141M | $133M | 101c | 0 |
| Jun 30, 2025 | 3 | $81.6M | $76.2M | 101c | 0 |
| Mar 31, 2025 | 3 | $87.6M | $81.2M | 101c | 0 |
| Dec 31, 2024 | 3 | $91.7M | $84.2M | 101c | 0 |
| Sep 30, 2024 | 3 | $215M | $198M | 100c | 0 |
| Jun 30, 2024 | 2 | $87.1M | $82.5M | 101c | 0 |
| Mar 31, 2024 | 2 | $73.4M | $70.5M | 101c | 0 |
| Dec 31, 2023 | 2 | $70.3M | $67.4M | 101c | 0 |
| Sep 30, 2023 | 2 | $124M | $119M | 100c | 0 |
| Jun 30, 2023 | 2 | $61.9M | $59.4M | 100c | 0 |
| Mar 31, 2023 | 2 | $62.2M | $59.7M | 100c | 0 |
| Sep 30, 2022 | 2 | $91.3M | $84.3M | 100c | 0 |
What changed
- Maturity approachingDec 20, 2027
- Maturity approachingDec 20, 2027
- Maturity approachingDec 20, 2027
- Maturity approachingDec 20, 2027
- Spread changed (observed)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Spread changed (observed)Mar 31, 2026
- Spread increasedMar 31, 2026
- Spread changed (observed)Dec 31, 2025
- Spread changed (observed)Dec 31, 2025
- Spread increasedDec 31, 2025
- Spread increasedDec 31, 2025
- Spread changed (observed)Sep 30, 2025
- Spread changed (observed)Mar 31, 2025
- Spread changed (observed)Sep 30, 2024
- New lender joined a facilitySep 30, 2024
- New lender joined a facilitySep 30, 2024
- Facility left every BDC scheduleMar 31, 2024
- Lender left a facilityMar 31, 2024
- Spread changed (observed)Dec 31, 2023
- Maturity extended (observed)Dec 31, 2023
- Spread changed (observed)Dec 31, 2023
- Maturity extended (observed)Dec 31, 2023
- Maturity extended (observed)Dec 31, 2023
- Maturity extended (observed)Dec 31, 2023
- Maturity extended (observed)Dec 31, 2023
- Maturity extended (observed)Dec 31, 2023
- New borrower on a BDC scheduleSep 30, 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
- S•••• D•••••• S••••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 3 BDCsderived
- Industry
- Telecommunicationsreportedas one filer wrote it