DFX Intelligence
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Borrower
B•••• A••••••••• B•••• L••
Textiles, Apparel & luxury goodsgroup grade Aon a schedule nowsponsor unattributed
Also written as: Consumer; Fixed Rate; Skechers
What matters now
- 102¢ → 100¢consensus mark
Consensus mark 100¢ on cost, down from 102¢ a year ago, 102¢ last quarter.
Q2 2026 · The lenders' own valuations, the most direct read of what they expect to recover.
Derived3 of 3 lenders' own marks, weighted by principal
Mark path, consensus per quarter end
102¢ · 103¢ · 100¢ · 102¢ · 100¢Q2 2025 to Q2 2026
Where each lender marks it, 1 points apart
100¢101¢
Principal held
at least $27.2M
sum of BDC pieces, a lower bound
Fair value
$27.3M
100c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
6
3 on the latest quarter
Facilities
4
0 equity pieces beside them
Next maturity
Jun 25, 2032
no dated debt inside 24 months
On the tape since
Jun 30, 2025
latest Jun 30, 2026
Events
6
dated, non-routine
Lender marks
each lender's own fair value over cost at Jun 30, 2026, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| G•••••• S•••• P•••••• C••••• C•••• | $25.1M | 100¢ | +1 pts |
| F••••••• B•• C•••••• C••• | $1.44M | 101¢ | +1 pts |
| B•••••••• P•••••• C••••• F••• | $579K | 101¢ | 0 pts |
Every BDC piece · 3 positions across 3 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| G•••••• S•••• P•••••• C••••• C•••• | term loan second lien 2nd L•••/S••••• S•••••• D••• I••••••• T•••••••, A•••••• & L••••• G•••• I••••••• R••• 6.39% | $25.1M | $25.2M 100c | SOFR+275 bp |
| F••••••• B•• C•••••• C••• | unstated lien unstated | $1.4M | $1.4M 101c | S+275 bp |
| B•••••••• P•••••• C••••• F••• | term loan first lien I••••••••• F•••• L••• T••• L••• Ref S•••(M) S••••• 2.75% T•••• C••••• 6.39% M••••••• 6/25/ | $579,094 | $582,922 101c | SOFR+275 bp |
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| second lien term loan second lien | at least $25.1M | 100c | SOFR+275 bp | Sep 12, 2032 | 1 |
| other lien unstated | at least $1.4M | 101c | S+275 bp | Sep 13, 2032 | 1 |
| first lien term loan first lien | at least $579,094 | 101c | SOFR+275 bp | Jun 25, 2032 | 2 |
| notes lien unstated exited Mar 31, 2026 | at least $18.4M | 107c | PIK 10.75% | Jul 15, 2033 | 1 |
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 | $27.2M | $27.3M | 100c | 0 |
| Mar 31, 2026 | 4 | $45.7M | $46.9M | 102c | 1 |
| Dec 31, 2025 | 5 | $116M | $120M | 103c | 0 |
| Sep 30, 2025 | 5 | $83.7M | $86.5M | 103c | 0 |
All 5 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 5 | $82.9M | $84.5M | 102c | 0 |
What changed
- Spread changed (observed)Jun 30, 2026
- Spread changed (observed)Jun 30, 2026
- Facility left every BDC scheduleMar 31, 2026
- PIK interest appearsMar 31, 2026
- PIK interest appearsMar 31, 2026
Full timeline · 8 eventsShow fewer
- Lender left a facilityDec 31, 2025
- Spread changed (observed)Sep 30, 2025
- New borrower on a BDC scheduleJun 30, 2025
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- BEACHderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 6 BDCsderived
- Industry
- Textiles, Apparel & luxury goodsreportedas one filer wrote it