DFX Intelligence
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Borrower
K•••••• D••••••••• C••• I••
group grade Aon a schedule nowsponsor unattributed
Also written as: Inc. First and; Undrawn Commitment
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
102¢ · 103¢ · 102¢ · 101¢ · 101¢Q2 2024 to Q2 2025
Principal held
unknown
sum of BDC pieces, a lower bound
Fair value
Not disclosed
n/a on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
5
0 on the latest quarter
Facilities
2
1 equity pieces beside them
Next maturity
unstated
no dated debt inside 24 months
On the tape since
Sep 30, 2023
latest Jun 30, 2026
Events
5
dated, non-routine
Lender marks
each lender's own fair value over cost at Jun 30, 2025, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| K•••••• L•••• C•••••• C• | $3.99M | 102¢ | 0 pts |
| F•••• E•••• P•••••• C••••• F••• | $2M | 100¢ | 0 pts |
Every BDC piece · 2 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| K•••••• L•••• C•••••• C• | term loan second lien S••••• L••• D••• O••••••• P••••••• D••• 8/3/2023 S+4.00% I••••••• R••• 8.33% Due 8/15/2028 | $4.0M | $4.0M 102c | SOFR+400 bp |
| F•••• E•••• P•••••• C••••• F••• | term loan first lien F•••• L••• D••• R•••••••• R••• and S••••• S + 4.00% I••••••• R••• F•••• 0.00% I••••••• R•• | $2.0M | $2.0M 100c | SOFR+400 bp |
Capital structure as the BDCs see it
latest quarter end Jun 30, 2025
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| second lien term loan second lien exited Jun 30, 2025 | at least $4.0M | 102c | SOFR+400 bp | Aug 15, 2028 | 1 |
| first lien term loan first lien exited Jun 30, 2025 | at least $2.0M | 100c | SOFR+400 bp | Aug 15, 2028 | 1 |
Equity pieces beside the debt: other (Not disclosed fair value, 1 BDC)
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, 2025 | 2 | $6.0M | $6.0M | 101c | 0 |
| Mar 31, 2025 | 2 | $6.0M | $6.0M | 101c | 0 |
| Dec 31, 2024 | 2 | $12.0M | $12.1M | 102c | 0 |
| Sep 30, 2024 | 1 | $4.0M | $4.0M | 103c | 0 |
All 8 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2024 | 2 | $19.2M | $19.3M | 102c | 0 |
| Mar 31, 2024 | 2 | $27.8M | $27.8M | 103c | 0 |
| Dec 31, 2023 | 2 | $35.8M | $35.5M | 102c | 0 |
| Sep 30, 2023 | 3 | $34.0M | $32.8M | 100c | 0 |
What changed
- Facility left every BDC scheduleJun 30, 2025
- Facility left every BDC scheduleJun 30, 2025
- New lender joined a facilityDec 31, 2024
- New lender joined a facilityDec 31, 2024
- Spread changed (observed)Jun 30, 2024
Full timeline · 7 eventsShow fewer
- Spread changed (observed)Jun 30, 2024
- New borrower on a BDC scheduleSep 30, 2023
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- KDC ONE DEVELOPMENTderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 5 BDCsderived