DFX Intelligence
The names on this page are hidden. Create a free account to reveal 5 records a month, or get Private Credit Intelligence at $249 a month for every name. Every figure, date and source on this page is public either way.
Borrower
P•• H•••••••• I••
Construction & Engineeringgroup grade Aoff every schedule since Dec 31, 2025sponsor unattributed
Nothing material in the last 200 days. Last change: 31 Dec 2025, $64.5M principal held by 4 lenders; matures Jan 2028.
Mark path, consensus per quarter end
100¢ · 100¢ · 100¢ · 101¢ · 101¢Q4 2024 to Q4 2025
Where each lender marks it on the first lien term loan, 1 point apart
100¢101¢
Principal held
at least $64.5M
sum of BDC pieces, a lower bound
Fair value
$64.5M
101c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
5
4 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
Jan 18, 2028
no dated debt inside 24 months
On the tape since
Mar 31, 2023
latest Dec 31, 2025
Events
7
dated, non-routine
Lender marks
each lender's own fair value over cost at Dec 31, 2025, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| K•••• A••••••• B••• I••• | $46.8M | 101¢ | 0 pts |
| S•••••••• P•••••• C••••• F••• L•• | $13.6M | 100¢ | 0 pts |
| M••••••• P•••••• C••••• F••• | $2.12M | no cost filed | no comparable mark |
| K•••• D• 2•••• I••• | $2.01M | 101¢ | new this quarter |
Every BDC piece · 8 positions across 4 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| K•••• A••••••• B••• I••• | term loan first lien F•••• lien senior secured loan - S•••(Q) | $23.4M | $23.4M 101c | S+494 bp |
| K•••• A••••••• B••• I••• | term loan first lien F•••• lien senior secured loan - I••••••• R••• 8.92% - S••••• 4.94% - R•••••••• S•••(Q) - | $23.4M | $23.4M 101c | SOFR+494 bp |
| S•••••••• P•••••• C••••• F••• L•• | term loan first lien T••• L••• | N•••••••••, N••••••••• D••• Investments | F•••• L••• S••••• S•••••• | R••••••• | $4.0M | $4.0M 100c | SOFR+495 bp |
| S•••••••• P•••••• C••••• F••• L•• | term loan first lien T••• L••• | N••• D••• Inv. | F•••• L••• S••••• S•••••• L••• | 1/18/2028 One | $4.0M | $4.0M 100c | SOFR+495 bp |
| S•••••••• P•••••• C••••• F••• L•• | term loan first lien T••• L••• | N••• D••• Inv. | F•••• L••• S••••• S•••••• L••• | 1/18/2028 | $2.8M | $2.8M 100c | SOFR+495 bp |
View all 8 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| S•••••••• P•••••• C••••• F••• L•• | term loan first lien T••• L••• | N•••••••••, N••••••••• D••• Investments | F•••• L••• S••••• S•••••• | R••••••• | $2.8M | $2.8M 100c | SOFR+495 bp |
| M••••••• P•••••• C••••• F••• | term loan lien unstated T••• L••• (3 month CME T••• S••• + 4.950%) | S••••• loans 235.6% | $2.1M | $2.1M | SOFR+495 bp |
| K•••• D• 2•••• I••• | term loan first lien F•••• lien senior secured loan - I••••••• R••• 8.92% - S••••• 4.94% - R•••••••• S•••(Q) - | $2.0M | $2.0M 101c | SOFR+494 bp |
Capital structure as the BDCs see it
latest quarter end Dec 31, 2025
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Dec 31, 2025 | at least $62.4M | 101c | SOFR+494 bp | Jan 18, 2028 | 3 |
| term loan lien unstated exited Dec 31, 2025 | at least $2.1M | n/a | SOFR+495 bp | Jan 18, 2028 | 1 |
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Dec 31, 2025 | 4 | $64.5M | $64.5M | 104c | 0 |
| Sep 30, 2025 | 3 | $32.4M | $32.4M | 108c | 0 |
| Jun 30, 2025 | 2 | $9.0M | $8.9M | 131c | 0 |
| Mar 31, 2025 | 2 | $9.0M | $9.0M | 131c | 0 |
All 12 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Dec 31, 2024 | 3 | $62.2M | $62.2M | 108c | 0 |
| Sep 30, 2024 | 2 | $9.0M | $9.0M | 131c | 0 |
| Jun 30, 2024 | 2 | $9.0M | $9.0M | 131c | 0 |
| Mar 31, 2024 | 2 | $9.1M | $9.1M | 132c | 0 |
| Dec 31, 2023 | 2 | $11.3M | $11.3M | 163c | 0 |
| Sep 30, 2023 | 2 | $8.9M | $8.9M | 100c | 0 |
| Jun 30, 2023 | 1 | $4.0M | $4.0M | 101c | 0 |
| Mar 31, 2023 | 1 | $2.0M | $0 | 0c | 0 |
What changed
- Facility left every BDC scheduleDec 31, 2025
- Facility left every BDC scheduleDec 31, 2025
- New lender joined a facilityDec 31, 2025
- Spread changed (observed)Dec 31, 2024
- Spread changed (observed)Dec 31, 2024
Full timeline · 11 eventsShow fewer
- Maturity extended (observed)Dec 31, 2023
- Maturity extended (observed)Sep 30, 2023
- Spread changed (observed)Sep 30, 2023
- Spread increasedSep 30, 2023
- Maturity extended (observed)Sep 30, 2023
- New borrower on a BDC scheduleMar 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
- PVI HOLDINGderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 5 BDCsderived
- Industry
- Construction & Engineeringreportedas one filer wrote it