DFX Intelligence
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Borrower
J••• S••••••
group grade Con a schedule nowsponsor unattributed
Also written as: 1; 2; 3
Principal held
at least $12.8M
sum of BDC pieces, a lower bound
Fair value
$14.4M
87c on cost, debt pieces
Unfunded
n/a
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
3
3 equity pieces beside them
Next maturity
Dec 31, 2027
$4.9M inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
13
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 $10.9M | 86c | 10.95% PIK 7.30% | Jan 1, 2028 | 2 |
| revolver lien unstated | at least $1.9M | 94c | S+575 bp | Dec 31, 2027 | 2 |
| other lien unstated exited Sep 30, 2025 | at least $4.7M | 90c | S+575 bp PIK 7.30% | Dec 31, 2026 | 2 |
Equity pieces beside the debt: preferred equity ($2.4M fair value, 2 BDCs), equity ($3,000 fair value, 2 BDCs), warrants ($178,000 fair value, 2 BDCs)
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| T••••••••• P•••••• V•••••• C••••• I••• | term loan lien unstated G••••• Capital Loan 1 | $5.3M | $4.9M 85c | 8.70% PIK 5.80% |
| T••••••••• P•••••• V•••••• C••••• I••• | preferred equity equity Preferred Stock | Warrant Investments | n/a | $73,000 100c | |
| T••••••••• P•••••• V•••••• C••••• I••• | revolver lien unstated Revolver | $1.3M | $1.3M 94c | S+575 bp |
| T••••••••• P•••••• V•••••• C••••• I••• | preferred equity equity Preferred Stock 3 | Equity Investments | n/a | $1.3M 198c | |
| T••••••••• P•••••• V•••••• C••••• I••• | term loan lien unstated G••••• Capital Loan 2 | $1.2M | $1.2M 87c | 10.95% PIK 7.30% |
| T••••••••• P•••••• V•••••• C••••• I••• | preferred equity equity Preferred Stock 2 | Equity Investments | n/a | $23,000 33c | |
| T••••••••• P•••••• V•••••• C••••• I••• | equity equity Common Stock | Equity Investments | n/a | $2,000 6c | |
| T••••••••• P•••••• V•••••• C••••• I••• | preferred equity equity Preferred Stock 1 | Equity Investments | n/a | $114,000 33c | |
| T••••••••• V•••••• G••••• B•• C•••• | revolver lien unstated Revolver | $529,000 | $531,000 95c | S+575 bp |
| T••••••••• V•••••• G••••• B•• C•••• | preferred equity equity Preferred Stock 3 | Equity Investments | n/a | $752,000 213c | |
| T••••••••• V•••••• G••••• B•• C•••• | term loan lien unstated G••••• Capital Loan 1 | $3.2M | $2.9M 85c | 8.70% PIK 5.80% |
| T••••••••• V•••••• G••••• B•• C•••• | preferred equity equity Preferred Stock 2 | Equity Investments | n/a | $11,000 32c | |
| T••••••••• V•••••• G••••• B•• C•••• | equity equity Common Stock | Equity Investments | n/a | $1,000 6c | |
| T••••••••• V•••••• G••••• B•• C•••• | preferred equity equity Preferred Stock 1 | Equity Investments | n/a | $57,000 33c | |
| T••••••••• V•••••• G••••• B•• C•••• | preferred equity equity Preferred Stock | Warrant Investments | n/a | $47,000 100c | |
| T••••••••• V•••••• G••••• B•• C•••• | term loan lien unstated G••••• Capital Loan 2 | $1.2M | $1.2M 87c | 10.95% PIK 7.30% |
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 | $12.8M | $12.0M | 87c | 4 |
| Mar 31, 2026 | 2 | $12.6M | $12.8M | 94c | 4 |
| Dec 31, 2025 | 2 | $28.0M | $27.5M | 92c | 9 |
| Sep 30, 2025 | 2 | $12.3M | $11.7M | 90c | 4 |
| Jun 30, 2025 | 2 | $12.1M | $11.2M | 88c | 5 |
| Mar 31, 2025 | 1 | $7.1M | $7.4M | 100c | 2 |
| Dec 31, 2024 | 2 | $22.8M | $23.5M | 100c | 8 |
| Sep 30, 2024 | 2 | $6.9M | $7.1M | 99c | 2 |
| Jun 30, 2024 | 2 | $6.8M | $6.7M | 97c | 2 |
| Mar 31, 2024 | 2 | $6.5M | $6.6M | 99c | 0 |
| Dec 31, 2023 | 2 | $7.1M | $7.0M | 98c | 0 |
| Sep 30, 2023 | 1 | $0 | $0 | n/a | 0 |
| Jun 30, 2023 | 1 | $0 | $0 | n/a | 0 |
| Mar 31, 2023 | 1 | $0 | $0 | n/a | 0 |
| Dec 31, 2022 | 2 | $7.3M | $7.0M | 99c | 0 |
| Sep 30, 2022 | 1 | $0 | $0 | n/a | 0 |
| Dec 31, 2021 | 1 | $0 | $0 | n/a | 0 |
What changed
- Maturity approachingJan 1, 2028
- Maturity approachingDec 31, 2027
- Marked down across lendersJun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- Maturity extended (observed)Dec 31, 2025
- Mark recoveredDec 31, 2025
- Facility left every BDC scheduleSep 30, 2025
- PIK interest appearsJun 30, 2025
- Marked down across lendersJun 30, 2025
- Marked down (one lender)Jun 30, 2025
- PIK interest appearsJun 30, 2025
- Spread changed (observed)Dec 31, 2024
- New lender joined a facilityDec 31, 2024
- Spread changed (observed)Jun 30, 2024
- PIK interest appearsJun 30, 2024
- Spread increasedJun 30, 2024
- PIK interest appearsJun 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
- J••• S A R L #LUderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived