DFX Intelligence
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Borrower
M•••• F•••• F••• G••••• L••
group grade Aon a schedule nowsponsor unattributed
Principal held
at least $8.8M
sum of BDC pieces, a lower bound
Fair value
$30.9M
98c on cost, debt pieces
Unfunded
n/a
commitments not yet drawn
BDC lenders
5
2 on the latest quarter
Facilities
2
3 equity pieces beside them
Next maturity
Jan 28, 2031
no dated debt inside 24 months
On the tape since
Sep 30, 2021
latest Jun 30, 2026
Events
10
dated, non-routine
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| term loan lien unstated | at least $8.8M | 98c | S+550 bp PIK 9.17% | Jan 28, 2031 | 2 |
| first lien term loan first lien exited Dec 31, 2023 | at least $43.7M | 101c | S+700 bp | Dec 1, 2026 | 2 |
Equity pieces beside the debt: preferred equity ($22.3M fair value, 2 BDCs), other (n/a fair value, 2 BDCs), equity ($61.6M fair value, 2 BDCs)
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| M••• S••••• C•••••• C••• | term loan lien unstated Secured Debt 1 | $3.0M | $3.0M 98c | S+550 bp PIK 9.16% |
| M••• S••••• C•••••• C••• | preferred equity equity Preferred Equity | n/a | $12.3M 80c | |
| M••• S••••• C•••••• C••• | term loan lien unstated Secured Debt 2 | $1.8M | $1.8M 98c | S+550 bp PIK 9.17% |
| M•• I••••• F•••• I••• | term loan lien unstated Secured Debt 1 | $2.5M | $2.4M 98c | S+550 bp PIK 9.16% |
| M•• I••••• F•••• I••• | term loan lien unstated Secured Debt 2 | $1.5M | $1.4M 98c | S+550 bp PIK 9.17% |
| M•• I••••• F•••• I••• | preferred equity equity Preferred Equity | n/a | $10.0M 80c |
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 | $8.8M | $8.6M | 98c | 4 |
| Mar 31, 2026 | 2 | $8.6M | $8.3M | 96c | 4 |
| Dec 31, 2025 | 2 | $8.4M | $8.1M | 96c | 4 |
| Sep 30, 2025 | 2 | $8.1M | $8.1M | 100c | 4 |
| Jun 30, 2025 | 2 | $5.0M | $15.0M | 300c | 5 |
| Mar 31, 2025 | 2 | $4.8M | $12.2M | 255c | 0 |
| Dec 31, 2024 | 2 | $0 | $0 | n/a | 0 |
| Sep 30, 2024 | 2 | $40.6M | $36.4M | 91c | 0 |
| Jun 30, 2024 | 2 | $40.6M | $40.0M | 100c | 0 |
| Mar 31, 2024 | 2 | $40.6M | $39.5M | 99c | 0 |
| Dec 31, 2023 | 3 | $80.0M | $131M | 166c | 0 |
| Sep 30, 2023 | 3 | $82.7M | $81.1M | 98c | 0 |
| Jun 30, 2023 | 3 | $82.6M | $80.9M | 98c | 0 |
| Mar 31, 2023 | 3 | $82.6M | $81.8M | 100c | 0 |
| Dec 31, 2022 | 3 | $82.7M | $81.8M | 100c | 0 |
| Sep 30, 2022 | 2 | $63.9M | $63.4M | 100c | 0 |
| Dec 31, 2021 | 2 | $49.1M | $49.1M | 101c | 0 |
| Sep 30, 2021 | 1 | $46.5M | $46.5M | 100c | 0 |
What changed
- Maturity extended (observed)Dec 31, 2025
- Maturity extended (observed)Dec 31, 2025
- Maturity extended (observed)Dec 31, 2025
- PIK interest appearsJun 30, 2025
- PIK interest appearsJun 30, 2025
- PIK interest appearsJun 30, 2025
- Spread changed (observed)Dec 31, 2024
- Marked down across lendersSep 30, 2024
- Marked down (one lender)Sep 30, 2024
- Marked down (one lender)Sep 30, 2024
- Spread changed (observed)Dec 31, 2023
- Facility left every BDC scheduleDec 31, 2023
- Maturity extended (observed)Dec 31, 2023
- Spread changed (observed)Dec 31, 2023
- Maturity extended (observed)Dec 31, 2023
- Spread increasedDec 31, 2023
- Spread increasedDec 31, 2023
- Spread increasedDec 31, 2023
- Maturity extended (observed)Dec 31, 2023
- Maturity extended (observed)Dec 31, 2023
- Maturity extended (observed)Dec 31, 2023
- New lender joined a facilityDec 31, 2022
- New lender joined a facilityDec 31, 2021
- New borrower on a BDC scheduleSep 30, 2021
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- MILLS FLEET FARMderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 5 BDCsderived