DFX Intelligence
Private Credit Intelligence
The capital structure graph behind private markets. Who lent, to whom, under which sponsor, through which facility, how large the piece was, when it matures and what changed, with a filing behind every number. A BDC piece is that BDC's piece, a sum of pieces is a lower bound, and a sponsor is named with the evidence that names it.
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Borrower
S•••••• T••••••• L••
Also written as: S•••••• Ultiimate Holdings; S•••••• Ultimate Holdings; Trade Education Holdings
Principal held
at least $3.0M
sum of BDC pieces, a lower bound
Fair value
$3.7M
100c on cost, debt pieces
Unfunded
n/a
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
2
2 equity pieces beside them
Next maturity
Mar 21, 2030
no dated debt inside 24 months
On the tape since
Dec 31, 2024
latest Jun 30, 2026
Events
2
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 $3.0M | 100c | 10.00% PIK 10.00% | Mar 21, 2030 | 1 |
| revolver lien unstated | unknown | n/a | unstated | 1 |
Equity pieces beside the debt: preferred equity ($698,954 fair value, 1 BDC), equity (n/a fair value, 1 BDC)
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| S•••••• C•••••• I••••••••• C••• | term loan lien unstated Term Loan (SBIC) | $3.0M | $3.0M 100c | 10.00% PIK 10.00% |
| S•••••• C•••••• I••••••••• C••• | equity equity Class A Units (SBIC) | n/a | n/a n/a | |
| S•••••• C•••••• I••••••••• C••• | equity equity Class A Units | n/a | n/a | |
| S•••••• C•••••• I••••••••• C••• | preferred equity equity Preferred Units (SBIC) | n/a | $698,954 42c | |
| S•••••• C•••••• I••••••••• C••• | revolver lien unstated Revolver | n/a | n/a |
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 | 1 | $3.0M | $3.0M | 100c | 1 |
| Mar 31, 2026 | 1 | $2.9M | $2.9M | 100c | 1 |
| Dec 31, 2025 | 1 | $2.9M | $2.9M | 100c | 1 |
| Sep 30, 2025 | 1 | $2.8M | $2.8M | 99c | 1 |
| Jun 30, 2025 | 1 | $2.7M | $2.7M | 100c | 1 |
| Mar 31, 2025 | 1 | $2.7M | $2.7M | 100c | 0 |
| Dec 31, 2024 | 1 | $0 | $5.3M | n/a | 0 |
What changed
- PIK interest appearsJun 30, 2025
- PIK interest appearsJun 30, 2025
- New borrower on a BDC scheduleDec 31, 2024
Sponsor
- Z•• A•••••••• L•••
- the sponsor's own portfolio page lists a company of this nameestimatedzmclp.com"portfolio card on https://zmclp.com/portfolio/: S•••••• T••••••"
Identity
- Group key
- SIMPLER TRADINGderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived