DFX Intelligence
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Borrower
V••••• E••• T••••••••• I••
group grade Aon a schedule nowsponsor unattributed
Also written as: Junior; Senior; VEIT Topco; VEIT, LLC
Principal held
at least $60.2M
sum of BDC pieces, a lower bound
Fair value
$134M
101c on cost, debt pieces
Unfunded
$0
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
3
4 equity pieces beside them
Next maturity
Jan 1, 2029
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
11
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 $57.6M | 101c | S+1215 bp PIK 15.88% | Jan 1, 2029 | 1 |
| first lien revolver first lien | at least $2.6M | 100c | S+500 bp | Jan 1, 2029 | 1 |
| unsecured or subordinated term loan unsecured or subordinated exited Jun 30, 2023 | at least $112M | 52c | Sep 1, 2024 | 1 |
Equity pieces beside the debt: equity ($6.7M fair value, 1 BDC), other ($66.9M fair value, 1 BDC), preferred equity ($20.6M fair value, 1 BDC), warrants ($0 fair value, 1 BDC)
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A••• C•••••• C••• | revolver first lien F•••• lien senior secured revolving loan | $2.6M | $2.6M 100c | S+500 bp |
| A••• C•••••• C••• | unstated lien unstated | n/a | n/a | |
| A••• C•••••• C••• | term loan first lien F•••• lien senior secured loan 2 | $2.2M | $2.2M 100c | S+500 bp |
| A••• C•••••• C••• | unstated lien unstated | n/a | $66.9M | |
| A••• C•••••• C••• | term loan first lien F•••• lien senior secured loan 4 | $8.1M | $8.1M 101c | S+1215 bp PIK 15.88% |
| A••• C•••••• C••• | term loan first lien F•••• lien senior secured loan 5 | $34.7M | $34.7M 101c | S+700 bp PIK 3.50% |
| A••• C•••••• C••• | term loan first lien F•••• lien senior secured loan 1 | $2.4M | $2.4M 100c | S+1215 bp PIK 12.00% |
| A••• C•••••• C••• | equity equity L•••••• partnership interests | n/a | $6.7M 38c | |
| A••• C•••••• C••• | term loan first lien F•••• lien senior secured loan 3 | $10.2M | $10.2M 100c | S+1215 bp PIK 15.88% |
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 | 1 | $60.2M | $60.2M | 101c | 4 |
| Mar 31, 2026 | 1 | $56.1M | $56.1M | 101c | 3 |
| Dec 31, 2025 | 1 | $54.4M | $54.4M | 101c | 3 |
| Sep 30, 2025 | 1 | $40.8M | $40.8M | 100c | 2 |
| Jun 30, 2025 | 1 | $33.7M | $33.7M | 101c | 1 |
| Mar 31, 2025 | 1 | $33.6M | $33.6M | 101c | 1 |
| Dec 31, 2024 | 1 | $33.6M | $33.6M | 101c | 1 |
| Sep 30, 2024 | 1 | $33.6M | $33.6M | 101c | 1 |
| Jun 30, 2024 | 1 | $33.6M | $33.6M | 102c | 1 |
| Mar 31, 2024 | 1 | $33.5M | $33.5M | 102c | 1 |
| Dec 31, 2023 | 1 | $33.5M | $33.5M | 102c | 1 |
| Sep 30, 2023 | 1 | $33.4M | $33.4M | 102c | 1 |
| Jun 30, 2023 | 1 | $145M | $78.1M | 65c | 1 |
| Mar 31, 2023 | 1 | $141M | $77.9M | 65c | 1 |
| Dec 31, 2022 | 1 | $136M | $78.1M | 65c | 1 |
| Sep 30, 2022 | 1 | $132M | $92.4M | 77c | 1 |
| Dec 31, 2021 | 1 | $121M | $111M | 93c | 2 |
What changed
- Maturity extended (observed)Dec 31, 2025
- PIK interest increasedDec 31, 2025
- PIK interest increasedDec 31, 2025
- Maturity extended (observed)Dec 31, 2025
- Spread changed (observed)Sep 30, 2025
- PIK interest increasedSep 30, 2025
- Spread increasedSep 30, 2025
- PIK interest increasedSep 30, 2025
- Maturity extended (observed)Sep 30, 2023
- returned to accrualSep 30, 2023
- Maturity extended (observed)Sep 30, 2023
- Facility left every BDC scheduleJun 30, 2023
- Mark recoveredJun 30, 2023
- Marked down across lendersDec 31, 2022
- Marked down (one lender)Dec 31, 2022
- Marked down across lendersSep 30, 2022
- Spread changed (observed)Sep 30, 2022
- Marked down (one lender)Sep 30, 2022
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- V••••• E••• T•••••••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived