DFX Intelligence
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Borrower
M•• B•••• L•• F•••• a••
group grade Aoff every schedule since Sep 30, 2025sponsor unattributed
Nothing material in the last 200 days. Last change: 30 Sep 2025, Consensus mark 101¢ on cost, up from 100¢ a year ago, 104¢ last quarter.
Mark path, consensus per quarter end
100¢ · 101¢ · 100¢ · 104¢ · 101¢Q3 2024 to Q3 2025
Principal held
at least $21.6M
sum of BDC pieces, a lower bound
Fair value
$17.6M
101c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
1
0 equity pieces beside them
Next maturity
Jun 29, 2029
no dated debt inside 24 months
On the tape since
Jun 30, 2023
latest Sep 30, 2025
Events
3
dated, non-routine
Lender marks
each lender's own fair value over cost at Sep 30, 2025, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| K•••••• L•••• C•••••• C• | $21.6M | 101¢ | -3 pts |
Every BDC piece · 4 positions across 1 lenderlargest 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••• 6/12/2023 S+5.00% I••••••• R••• 9.16% Due 6/29/202 | $14.9M | $14.8M 101c | SOFR+500 bp |
| K•••••• L•••• C•••••• C• | term loan second lien S••••• L••• D••• O••••••• P••••••• D••• 6/12/2023 S+5.00% Due 6/29/2029 | $2.7M | -$25,048 51c | SOFR+500 bp |
| K•••••• L•••• C•••••• C• | term loan second lien S••••• L••• D••• O••••••• P••••••• D••• 6/12/2023 S+5.00% I••••••• R••• 9.15% Due 6/29/202 | $2.4M | $2.4M 100c | SOFR+500 bp |
| K•••••• L•••• C•••••• C• | term loan second lien S••••• L••• D••• O••••••• P••••••• D••• 6/12/2023 S+5.00% I••••••• R••• 9.25% Due 6/29/202 | $1.6M | $394,145 98c | SOFR+500 bp |
Capital structure as the BDCs see it
latest quarter end Sep 30, 2025
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| second lien term loan second lien exited Sep 30, 2025 | at least $21.6M | 101c | SOFR+500 bp | Jun 29, 2029 | 1 |
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Sep 30, 2025 | 1 | $21.6M | $17.6M | 101c | 0 |
| Jun 30, 2025 | 1 | $4.3M | $298,509 | 97c | 0 |
| Mar 31, 2025 | 1 | $21.7M | $16.9M | 99c | 0 |
| Dec 31, 2024 | 1 | $20.1M | $17.4M | 101c | 0 |
All 10 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Sep 30, 2024 | 1 | $20.1M | $14.6M | 100c | 0 |
| Jun 30, 2024 | 1 | $20.2M | $14.6M | 100c | 0 |
| Mar 31, 2024 | 1 | $15.1M | $14.6M | 98c | 0 |
| Dec 31, 2023 | 1 | $40.5M | $29.4M | 100c | 0 |
| Sep 30, 2023 | 1 | $20.3M | $14.7M | -13181c | 0 |
| Jun 30, 2023 | 1 | $20.3M | $14.6M | 99c | 0 |
What changed
- Facility left every BDC scheduleSep 30, 2025
- Spread changed (observed)Jun 30, 2024
- Maturity shortened (observed)Sep 30, 2023
- New borrower on a BDC scheduleJun 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
- MEI FIRST ANDderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived