DFX Intelligence
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Borrower
M•••• L••
Software & Servicesgroup grade Aon a schedule nowsponsor unattributed
Also written as: 1; 2; Software & Services
Principal held
at least $21.9M
sum of BDC pieces, a lower bound
Fair value
$59.4M
93c on cost, debt pieces
Unfunded
n/a
commitments not yet drawn
BDC lenders
5
3 on the latest quarter
Facilities
3
1 equity pieces beside them
Next maturity
unstated
no dated debt inside 24 months
On the tape since
Dec 31, 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 |
|---|---|---|---|---|---|
| other lien unstated | at least $21.9M | 93c | S+400 bp | unstated | 4 |
| first lien term loan first lien exited Jun 30, 2023 | at least $10.1M | 99c | S+350 bp | Jun 1, 2024 | 1 |
| second lien term loan second lien exited Jun 30, 2025 | at least $1.5M | 100c | S+730 bp | Sep 1, 2029 | 1 |
Equity pieces beside the debt: preferred equity ($39.2M fair value, 1 BDC)
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| F• K•• C•••••• C••• | preferred equity equity Preferred Stock | n/a | $39.2M 97c | S+1330 bp |
| K•• F• I••••• T•••• | unstated lien unstated | $14.0M | $13.0M 93c | S+400 bp |
| K•• F• I••••• T•••• S••••• | unstated lien unstated | $7.9M | $7.3M 93c | S+400 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 | $21.9M | $20.2M | 93c | 0 |
| Mar 31, 2026 | 3 | $43.0M | $40.4M | 95c | 0 |
| Dec 31, 2025 | 4 | $46.4M | $45.6M | 107c | 0 |
| Sep 30, 2025 | 4 | $46.5M | $46.4M | 109c | 0 |
| Jun 30, 2025 | 2 | $15.4M | $14.5M | 964c | 0 |
| Mar 31, 2025 | 2 | $15.4M | $14.7M | 979c | 0 |
| Dec 31, 2024 | 2 | $17.2M | $16.9M | 528c | 0 |
| Sep 30, 2024 | 2 | $15.5M | $15.0M | 1002c | 0 |
| Jun 30, 2024 | 2 | $15.6M | $14.7M | 916c | 0 |
| Mar 31, 2024 | 1 | $1.6M | $1.5M | 94c | 0 |
| Dec 31, 2023 | 1 | $3.0M | $3.0M | 100c | 0 |
| Sep 30, 2023 | 1 | $16.3M | $16.0M | 100c | 0 |
| Jun 30, 2023 | 2 | $26.4M | $24.6M | 97c | 0 |
| Mar 31, 2023 | 1 | $16.3M | $13.3M | 85c | 0 |
| Dec 31, 2022 | 1 | $32.6M | $24.6M | 79c | 0 |
| Sep 30, 2022 | 1 | $16.3M | $13.4M | 86c | 0 |
| Dec 31, 2021 | 1 | $21.8M | $21.8M | 106c | 0 |
What changed
- Lender left a facilityDec 31, 2025
- New lender joined a facilitySep 30, 2025
- New lender joined a facilitySep 30, 2025
- Facility left every BDC scheduleJun 30, 2025
- Lender left a facilityJun 30, 2025
- Mark recoveredJun 30, 2024
- Marked down across lendersMar 31, 2024
- Marked down (one lender)Mar 31, 2024
- Mark recoveredSep 30, 2023
- Maturity extended (observed)Sep 30, 2023
- Maturity extended (observed)Sep 30, 2023
- Mark recoveredJun 30, 2023
- Facility left every BDC scheduleJun 30, 2023
- Mark recoveredMar 31, 2023
- Marked down across lendersDec 31, 2022
- Marked down (one lender)Dec 31, 2022
- New borrower on a BDC scheduleDec 31, 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
- MISYS #UKderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 5 BDCsderived
- Industry
- Software & Servicesreportedas one filer wrote it