DFX Intelligence
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Borrower
P•• H•••••• C•••
Aerospace & Defensegroup grade Aon a schedule nowsponsor unattributed
Principal held
at least $51.0M
sum of BDC pieces, a lower bound
Fair value
$55.2M
101c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
4
4 on the latest quarter
Facilities
5
0 equity pieces beside them
Next maturity
Dec 21, 2029
no dated debt inside 24 months
On the tape since
Dec 31, 2023
latest Mar 31, 2026
Events
7
dated, non-routine
Capital structure as the BDCs see it
latest quarter end Mar 31, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Mar 31, 2026 | at least $40.2M | 101c | SOFR+475 bp | Dec 22, 2029 | 4 |
| other lien unstated exited Sep 30, 2025 | at least $39.4M | 100c | S+475 bp | Dec 21, 2029 | 2 |
| first lien delayed draw term loan first lien exited Mar 31, 2026 | at least $10.2M | 101c | S+475 bp | Dec 21, 2029 | 2 |
| first lien revolver first lien exited Mar 31, 2026 | at least $662,000 | 100c | SOFR+475 bp | Dec 22, 2029 | 2 |
| delayed draw term loan lien unstated exited Dec 31, 2024 | unknown | n/a | S+525 bp | unstated | 2 |
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| N••••• C•••••••• D••••• L•••••• C•••• | delayed draw term loan first lien F•••• L••• D••• (D•••••• D•••) | $4.9M | $4.9M 101c | S+475 bp |
| N••••• C•••••••• D••••• L•••••• C•••• | term loan first lien F•••• L••• D••• | $14.7M | $14.7M 101c | S+475 bp |
| N••••• C•••••••• P•••••• C•••••• I••••• F••• | term loan first lien F•••• L••• D••• | $14.4M | $14.4M 101c | S+475 bp |
| N••••• C•••••••• P•••••• C•••••• I••••• F••• | delayed draw term loan first lien F•••• L••• D••• (D•••••• D•••) | $5.3M | $5.3M 101c | S+475 bp |
| R••••• C•••••• C••• | term loan first lien F•••• L••• S••••• S•••••• L••• | Not disclosed | $221,000 100c | S+475 bp |
| R••••• C•••••• C••• | revolver first lien F•••• L••• S••••• S•••••• L••• R•••••••) | Not disclosed | $32,000 100c | S+475 bp |
| R••••• C•••••• C••• | term loan first lien F•••• L••• S••••• S•••••• L••• | Not disclosed | $4.1M 100c | S+475 bp |
| R••••• C•••••• C••• | revolver first lien F•••• L••• D••• R••••••• | Not disclosed | Not disclosed | S+475 bp |
| S•••••••• P•••••• C••••• F••• L•• | term loan first lien T••• L••• | N•••••••••, N••••••••• D••• Investments | F•••• L••• S••••• S•••••• | R••••••• | $11.1M | $11.0M 100c | SOFR+475 bp |
| S•••••••• P•••••• C••••• F••• L•• | revolver first lien R•••••••• L••• | N•••••••••, N••••••••• D••• Investments | F•••• L••• S••••• S•••••• | R•• | $662,000 | $651,000 100c | SOFR+475 bp |
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Mar 31, 2026 | 4 | $51.0M | $55.2M | 101c | 0 |
| Dec 31, 2025 | 4 | $62.2M | $70.5M | 100c | 0 |
| Sep 30, 2025 | 4 | $50.8M | $50.5M | 100c | 0 |
| Jun 30, 2025 | 3 | $51.2M | $51.1M | 101c | 0 |
| Mar 31, 2025 | 3 | $51.1M | $51.0M | 101c | 0 |
| Dec 31, 2024 | 3 | $114M | $114M | 101c | 0 |
| Sep 30, 2024 | 1 | $11.4M | $11.3M | 100c | 0 |
| Dec 31, 2023 | 2 | $0 | $0 | n/a | 0 |
What changed
- Facility left every BDC scheduleMar 31, 2026
- Facility left every BDC scheduleMar 31, 2026
- Facility left every BDC scheduleMar 31, 2026
- Spread changed (observed)Mar 31, 2026
- Spread increasedMar 31, 2026
- Marked down (one lender)Dec 31, 2025
- Facility left every BDC scheduleSep 30, 2025
- New lender joined a facilityDec 31, 2024
- New lender joined a facilityDec 31, 2024
- Facility left every BDC scheduleDec 31, 2024
- New borrower on a BDC scheduleDec 31, 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
- P•• H••••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 4 BDCsderived
- Industry
- Aerospace & Defensereportedas one filer wrote it