DFX Intelligence
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Borrower
Z••••• C•••••••• H•••••••• L••
Insurancegroup grade Aon a schedule nowsponsor unattributed
Also written as: LLC Undrawn Commitment
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
101¢ · 102¢ · 102¢ · 101¢ · 101¢Q2 2025 to Q2 2026
Where each lender marks it on the first lien term loan, 1 point apart
100¢101¢
Principal held
at least $66.5M
sum of BDC pieces, a lower bound
Fair value
$65.9M
101c on cost, debt pieces
Unfunded
$3.5M
commitments not yet drawn
BDC lenders
3
2 on the latest quarter
Facilities
4
0 equity pieces beside them
Next maturity
Sep 21, 2029
no dated debt inside 24 months
On the tape since
Sep 30, 2024
latest Jun 30, 2026
Events
5
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 |
|---|---|---|---|
| R••••• G••••• F•••••• C•••• | $40M | 100¢ | 0 pts |
| V•••• C••••• S•••••••• L•••••• C•••• | $26.5M | 101¢ | 0 pts |
Every BDC piece · 3 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| R••••• G••••• F•••••• C•••• | term loan first lien Investment T••• S••••• S•••••• I••••••• R••• S•••+6.50%, 7.50% floor I•••••• A••••••••• D• | $40.0M | $39.6M 100c | SOFR+650 bp |
| V•••• C••••• S•••••••• L•••••• C•••• | term loan first lien F••••••••• D••• R•••••••• R••• and S••••• S••• + 6.50% I••••••• R••• 10.23% M••••••• D••• | $26.5M | $26.3M 101c | SOFR+650 bp |
| V•••• C••••• S•••••••• L•••••• C•••• | delayed draw term loan lien unstated C••••••••• T••• D•••••• D••• C••••••••• E••••••••• D••• 9/21/2029 | Not disclosed | Not disclosed |
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 $66.5M | 101c | SOFR+650 bp | Sep 21, 2029 | 2 |
| delayed draw term loan lien unstated | unknown | n/a | unstated | 1 | |
| other lien unstated exited Mar 31, 2025 | at least $26.5M | 101c | SOFR+800 bp | Aug 30, 2029 | 1 |
| first lien delayed draw term loan first lien exited Dec 31, 2024 | unknown | n/a | SOFR+800 bp | Sep 23, 2029 | 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 | 2 | $66.5M | $65.9M | 101c | 0 |
| Mar 31, 2026 | 2 | $66.5M | $65.8M | 101c | 0 |
| Dec 31, 2025 | 2 | $66.5M | $66.6M | 102c | 0 |
| Sep 30, 2025 | 2 | $66.5M | $66.5M | 102c | 0 |
All 8 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 2 | $66.5M | $65.6M | 101c | 0 |
| Mar 31, 2025 | 2 | $66.5M | $65.6M | 101c | 0 |
| Dec 31, 2024 | 3 | $111M | $109M | 100c | 0 |
| Sep 30, 2024 | 3 | $84.1M | $82.4M | 100c | 0 |
What changed
- Spread changed (observed)Mar 31, 2026
- Spread increasedMar 31, 2026
- Spread increasedMar 31, 2026
- Spread increasedDec 31, 2025
- Spread increasedDec 31, 2025
Full timeline · 11 eventsShow fewer
- Spread changed (observed)Sep 30, 2025
- Facility left every BDC scheduleMar 31, 2025
- New lender joined a facilityDec 31, 2024
- Lender left a facilityDec 31, 2024
- Facility left every BDC scheduleDec 31, 2024
- New borrower on a BDC scheduleSep 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
- ZINNIA CORPORATEderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 3 BDCsderived
- Industry
- Insurancereportedas one filer wrote it