DFX Intelligence
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Borrower
S••••••••• M••••• L••
Also written as: LLC 1; LLC 2; LLC 3; LLC 4; S••••••••• Intermediate, LLC
Principal held
at least $43.8M
sum of BDC pieces, a lower bound
Fair value
$41.3M
100c on cost, debt pieces
Unfunded
$2.6M
commitments not yet drawn
BDC lenders
5
2 on the latest quarter
Facilities
3
0 equity pieces beside them
Next maturity
Jan 12, 2027
$41.9M inside 24 months
On the tape since
Dec 31, 2022
latest Jun 30, 2026
Events
14
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 $38.8M | 100c | S+585 bp | Jan 12, 2027 | 5 |
| first lien revolver first lien | at least $5.0M | 100c | S+585 bp | Jan 12, 2027 | 3 |
| revolver lien unstated exited Dec 31, 2025 | unknown | n/a | unstated | 2 |
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| M••••• C•••••• E••••••• C•••••••• L•••••• F••• | term loan first lien S••••• S•••••• L•••• | N••••••••• I••••• | $342,000 | $342,000 100c | S+585 bp |
| M••••• C•••••• E••••••• C•••••••• L•••••• F••• | term loan first lien S••••• S•••••• L•••• | N••••••••• I••••• | $201,000 | $201,000 100c | S+585 bp |
| M••••• C•••••• E••••••• C•••••••• L•••••• F••• | revolver first lien R•••••••) | S••••• S•••••• L•••• | N••••••••• I••••• | $450,000 | $221,000 100c | S+585 bp |
| M••••• C•••••• E••••••• C•••••••• L•••••• F••• | term loan first lien S••••• S•••••• L•••• | N••••••••• I••••• | $111,000 | $111,000 100c | S+585 bp |
| M••••• C•••••• E••••••• C•••••••• L•••••• F••• | term loan first lien S••••• S•••••• L•••• | N••••••••• I••••• | $790,000 | $790,000 100c | S+585 bp |
| M••••• C•••••• E••••••• C•••••••• L•••••• F••• | revolver first lien R•••••••) | n/a | n/a | |
| M••••• C•••••• I••••• P••• C••• | term loan first lien S••••• S•••••• L•••• | $2.7M | $2.7M 100c | S+585 bp |
| M••••• C•••••• I••••• P••• C••• | term loan first lien S••••• S•••••• L•••• | $697,000 | $697,000 100c | S+585 bp |
| M••••• C•••••• I••••• P••• C••• | term loan first lien S••••• S•••••• L•••• | $29.4M | $29.4M 100c | S+585 bp |
| M••••• C•••••• I••••• P••• C••• | revolver first lien R•••••••) | n/a | n/a | |
| M••••• C•••••• I••••• P••• C••• | revolver first lien R•••••••) | S••••• S•••••• L•••• | $4.6M | $2.2M 100c | S+585 bp |
| M••••• C•••••• I••••• P••• C••• | term loan first lien S••••• S•••••• L•••• | $4.6M | $4.6M 100c | S+585 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 | 2 | $43.8M | $41.3M | 100c | 0 |
| Mar 31, 2026 | 2 | $40.7M | $37.8M | 100c | 0 |
| Dec 31, 2025 | 3 | $43.8M | $40.8M | 100c | 0 |
| Sep 30, 2025 | 2 | $41.9M | $39.4M | 101c | 0 |
| Jun 30, 2025 | 2 | $41.9M | $39.9M | 101c | 0 |
| Mar 31, 2025 | 2 | $41.9M | $39.9M | 101c | 0 |
| Dec 31, 2024 | 2 | $89.4M | $86.9M | 101c | 0 |
| Sep 30, 2024 | 2 | $39.2M | $37.8M | 101c | 0 |
| Jun 30, 2024 | 4 | $46.9M | $44.8M | 100c | 0 |
| Mar 31, 2024 | 4 | $46.9M | $44.8M | 100c | 0 |
| Dec 31, 2023 | 4 | $91.7M | $85.7M | 100c | 0 |
| Sep 30, 2023 | 3 | $44.0M | $41.2M | 100c | 0 |
| Jun 30, 2023 | 3 | $44.0M | $4.0M | 100c | 0 |
| Mar 31, 2023 | 2 | $20.6M | $0 | n/a | 0 |
| Dec 31, 2022 | 4 | $89.9M | $80.4M | 100c | 0 |
What changed
- Maturity approachingJan 12, 2027
- Maturity approachingJan 12, 2027
- Maturity approachingJan 12, 2027
- Maturity approachingJan 12, 2027
- Maturity approachingJan 12, 2027
- Maturity approachingJan 12, 2027
- Lender left a facilityDec 31, 2025
- Facility left every BDC scheduleDec 31, 2025
- Spread changed (observed)Sep 30, 2024
- Spread changed (observed)Sep 30, 2024
- Spread changed (observed)Jun 30, 2024
- Lender left a facilityJun 30, 2024
- Lender left a facilityJun 30, 2024
- Spread changed (observed)Jun 30, 2024
- Spread increasedJun 30, 2024
- Spread increasedJun 30, 2024
- Spread increasedJun 30, 2024
- Spread increasedJun 30, 2024
- Spread increasedJun 30, 2024
- Spread increasedJun 30, 2024
- Spread changed (observed)Mar 31, 2024
- Spread changed (observed)Mar 31, 2024
- Lender left a facilityDec 31, 2023
- New borrower on a BDC scheduleDec 31, 2022
Sponsor
- M••••• E••••• P•••••••
- the sponsor's own portfolio page lists a company of this nameestimatedmarlinequity.com"••• Locked"
Identity
- Group key
- STARCOMPLIANCEderivedthe codename stem after legal suffixes and deal words
- Spellings
- 2 across 5 BDCsderived