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
P••• T•••• H••••••• L••
Capital Marketsgroup grade Aon a schedule nowsponsor unattributed
Principal held
at least $8.8M
sum of BDC pieces, a lower bound
Fair value
$38.7M
95c on cost, debt pieces
Unfunded
n/a
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
3
0 equity pieces beside them
Next maturity
Sep 27, 2030
no dated debt inside 24 months
On the tape since
Sep 30, 2023
latest Jun 30, 2026
Events
28
dated, non-routine
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien | at least $7.3M | 96c | SOFR+775 bp PIK 6.00% | Sep 27, 2030 | 2 |
| first lien delayed draw term loan first lien | at least $810,484 | 93c | SOFR+775 bp PIK 6.00% | Sep 27, 2030 | 2 |
| first lien revolver first lien | at least $738,041 | 94c | SOFR+675 bp PIK 6.00% | Sep 27, 2030 | 2 |
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| 2•••••• B••• I••• | term loan first lien Debt Investments | First Lien Senior Secured Term Loan | SOFR + 7.750% | 11.482% | 10/20/2 | n/a | $23.8M 96c | SOFR+775 bp |
| 2•••••• B••• I••• | delayed draw term loan first lien Debt Investments | First Lien Senior Secured Delayed Draw Term Loan | SOFR + 7.750% | 11.4 | n/a | $4.2M 93c | SOFR+775 bp |
| 2•••••• B••• I••• | revolver first lien Debt Investments | First Lien Senior Secured Revolving Loan | SOFR + 6.750% | 10.482% | 10 | n/a | $2.5M 94c | SOFR+675 bp |
| A• P•••••• C••••• I•••••••• C••• | term loan first lien US Corporate Debt | 1st Lien/Senior Secured Debt | Term Loan | 11.48% (S + 1.75%; 0.75% Fl | $7.3M | $6.9M 96c | SOFR+175 bp PIK 6.00% |
| A• P•••••• C••••• I•••••••• C••• | revolver first lien US Corporate Debt | 1st Lien/Senior Secured Debt | Revolver | 10.48% (S + 6.75%; 0.75% Flo | $738,041 | $677,416 93c | SOFR+675 bp PIK 6.00% |
| A• P•••••• C••••• I•••••••• C••• | delayed draw term loan first lien US Corporate Debt | 1st Lien/Senior Secured Debt | Delayed Draw Term Loan | 11.48% (S + 1. | $810,484 | $749,503 92c | SOFR+175 bp PIK 6.00% |
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 | $8.8M | $38.7M | 95c | 3 |
| Mar 31, 2026 | 2 | $8.7M | $38.0M | 95c | 3 |
| Dec 31, 2025 | 2 | $16.9M | $49.8M | 98c | 6 |
| Sep 30, 2025 | 2 | $7.7M | $35.4M | 100c | 3 |
| Jun 30, 2025 | 2 | $7.6M | $35.3M | 101c | 3 |
| Mar 31, 2025 | 2 | $7.6M | $34.7M | 101c | 3 |
| Dec 31, 2024 | 2 | $7.4M | $60.7M | 101c | 3 |
| Sep 30, 2024 | 2 | $7.3M | $33.4M | 100c | 2 |
| Jun 30, 2024 | 2 | $7.2M | $33.0M | 101c | 2 |
| Mar 31, 2024 | 2 | $7.1M | $32.3M | 100c | 2 |
| Dec 31, 2023 | 2 | $20.9M | $95.3M | 100c | 6 |
| Sep 30, 2023 | 1 | $6.9M | $6.7M | 100c | 2 |
What changed
- Spread changed (observed)Jun 30, 2026
- Spread changed (observed)Jun 30, 2026
- Spread changed (observed)Mar 31, 2026
- Spread changed (observed)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Spread changed (observed)Dec 31, 2025
- Spread changed (observed)Dec 31, 2025
- Spread changed (observed)Dec 31, 2025
- Marked down (one lender)Dec 31, 2025
- Spread increasedDec 31, 2025
- Spread changed (observed)Sep 30, 2025
- Spread changed (observed)Sep 30, 2025
- Spread changed (observed)Sep 30, 2025
- Spread changed (observed)Jun 30, 2025
- Spread changed (observed)Jun 30, 2025
- Spread changed (observed)Jun 30, 2025
- Spread changed (observed)Mar 31, 2025
- Spread changed (observed)Mar 31, 2025
- Spread changed (observed)Mar 31, 2025
- Spread changed (observed)Dec 31, 2024
- New lender joined a facilityDec 31, 2024
- Spread changed (observed)Dec 31, 2024
- Spread changed (observed)Sep 30, 2024
- Spread changed (observed)Sep 30, 2024
- Spread changed (observed)Jun 30, 2024
- Spread changed (observed)Jun 30, 2024
- Spread changed (observed)Mar 31, 2024
- Spread increasedMar 31, 2024
- Spread changed (observed)Mar 31, 2024
- Spread changed (observed)Mar 31, 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
- PENN T••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived
- Industry
- Capital Marketsreportedas one filer wrote it