DFX Intelligence
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Borrower
A••• L•••• S••••••••• L••
Also written as: SG AL Investment
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
100¢ · 100¢ · 101¢ · 100¢ · 100¢Q2 2025 to Q2 2026
Principal held
at least $11.9M
sum of BDC pieces, a lower bound
Fair value
$15.3M
100c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
3
1 equity pieces beside them
Next maturity
May 29, 2030
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
6
dated, non-routine
Lender marks
each lender's own fair value over cost at Jun 30, 2026, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| P••• P•••••• C••••• F••• | $11.9M | 100¢ | 0 pts |
Every BDC piece · 4 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| P••• P•••••• C••••• F••• | revolver lien unstated Due 5/29/2030 | $11.0M | $10.9M 100c | S+500 bp |
| P••• P•••••• C••••• F••• | revolver lien unstated R•••••••), Due 5/29/2030 | $843,000 | -$11,000 110c | S+500 bp |
| S•••••• C•••••• I••••••••• C••• | equity equity C••••• U•••• | $1,000 | $3.4M 1038c | |
| S•••••• C•••••• I••••••••• C••• | equity equity LLC C••••••• U•••• | $239 | $985,826 223c |
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| revolver lien unstated | at least $11.9M | 100c | S+500 bp | May 29, 2030 | 1 |
| term loan lien unstated exited Mar 31, 2025 | at least $11.9M | 100c | //stelluscapital.com/20250331#Three Month Term Secured Overnight Financing Rate+600 bp | May 9, 2028 | 1 |
| other lien unstated exited Jun 30, 2025 | at least $11.2M | 100c | S+525 bp | May 29, 2030 | 1 |
Equity pieces beside the debt: equity ($4.4M 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, 2026 | 2 | $11.9M | $10.9M | 100c | 0 |
| Mar 31, 2026 | 2 | $11.9M | $10.9M | 100c | 0 |
| Dec 31, 2025 | 2 | $11.9M | $11.0M | 101c | 0 |
| Sep 30, 2025 | 2 | $12.0M | $11.0M | 100c | 0 |
All 17 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 2 | $12.0M | $11.0M | 100c | 0 |
| Mar 31, 2025 | 1 | $11.9M | $11.9M | 100c | 0 |
| Dec 31, 2024 | 1 | $0 | $11.9M | 101c | 0 |
| Sep 30, 2024 | 1 | $12.0M | $12.0M | 101c | 0 |
| Jun 30, 2024 | 1 | $12.0M | $12.0M | 101c | 0 |
| Mar 31, 2024 | 1 | $12.0M | $12.0M | 101c | 0 |
| Dec 31, 2023 | 1 | $12.1M | $11.8M | 99c | 0 |
| Sep 30, 2023 | 1 | $3.2M | $13.2M | 99c | 0 |
| Jun 30, 2023 | 1 | $13.6M | $13.6M | 101c | 0 |
| Mar 31, 2023 | 1 | $16.6M | $16.5M | 101c | 0 |
| Dec 31, 2022 | 1 | $16.8M | $16.8M | 102c | 0 |
| Sep 30, 2022 | 1 | $17.0M | $0 | n/a | 0 |
| Dec 31, 2021 | 1 | $11.1M | $11.1M | 102c | 0 |
What changed
- Facility left every BDC scheduleJun 30, 2025
- Maturity extended (observed)Jun 30, 2025
- Facility left every BDC scheduleMar 31, 2025
- Spread changed (observed)Dec 31, 2024
- Spread changed (observed)Jun 30, 2024
Full timeline · 8 eventsShow fewer
- Spread changed (observed)Dec 31, 2023
- Spread increasedDec 31, 2023
- Lender left a facilitySep 30, 2023
Sponsor
- S••••••••• P•••••••
- the sponsor's own portfolio page lists a company of this nameestimatedstelluscapital.com"••• Locked"
Identity
- Group key
- A••• L•••• S•••••••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived