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
C•••• C•••
Software & Servicesgroup grade Bon a schedule nowsponsor unattributed
Also written as: Common Stock; Preferred Equity; Preferred Stock; Warrant
Principal held
at least $36.7M
sum of BDC pieces, a lower bound
Fair value
$0
n/a on cost, debt pieces
Unfunded
n/a
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
2
3 equity pieces beside them
Next maturity
Aug 1, 2029
no dated debt inside 24 months
On the tape since
Dec 31, 2020
latest Jun 30, 2026
Events
10
dated, non-routine
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| second lien term loan second lien | at least $36.7M | n/a | S+760 bp | Aug 1, 2029 | 1 |
| other lien unstated exited Jun 30, 2025 | unknown | n/a | unstated | 1 |
Equity pieces beside the debt: preferred equity ($0 fair value, 1 BDC), equity ($0 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 |
|---|---|---|---|---|
| F• K•• C•••••• C••• | warrants equity Warrant | n/a | $0 | |
| F• K•• C•••••• C••• | preferred equity equity Preferred Equity | n/a | $0 | S+1100 bp |
| F• K•• C•••••• C••• | term loan second lien | $36.7M | $0 | S+760 bp |
| F• K•• C•••••• C••• | preferred equity equity Preferred Stock | n/a | $0 0c | |
| F• K•• C•••••• C••• | equity equity Common Stock | n/a | $0 |
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 | $36.7M | $0 | n/a | 0 |
| Mar 31, 2026 | 1 | $35.7M | $0 | 0c | 0 |
| Dec 31, 2025 | 1 | $34.7M | $23.2M | 76c | 0 |
| Sep 30, 2025 | 1 | $33.6M | $29.1M | 94c | 0 |
| Jun 30, 2025 | 1 | $60.4M | $50.7M | 89c | 0 |
| Mar 31, 2025 | 1 | $44.8M | $34.0M | 79c | 0 |
| Dec 31, 2024 | 1 | $89.6M | $68.8M | 81c | 0 |
| Sep 30, 2024 | 1 | $44.8M | $37.4M | 88c | 0 |
| Jun 30, 2024 | 1 | $44.8M | $38.9M | 91c | 0 |
| Mar 31, 2024 | 1 | $44.8M | $42.0M | 99c | 0 |
| Dec 31, 2023 | 1 | $89.6M | $85.6M | 101c | 0 |
| Sep 30, 2023 | 1 | $44.8M | $43.2M | 102c | 0 |
| Jun 30, 2023 | 1 | $44.8M | $40.8M | 96c | 0 |
| Mar 31, 2023 | 1 | $44.8M | $40.4M | 96c | 0 |
| Dec 31, 2022 | 1 | $89.6M | $81.2M | 96c | 0 |
| Sep 30, 2022 | 1 | $44.8M | $41.0M | 97c | 0 |
| Dec 31, 2021 | 1 | $54.8M | $55.6M | 107c | 0 |
| Dec 31, 2020 | 1 | $0 | $0 | n/a | 0 |
What changed
- Marked down across lendersMar 31, 2026
- Maturity extended (observed)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Maturity extended (observed)Mar 31, 2026
- Marked down across lendersDec 31, 2025
- Marked down (one lender)Dec 31, 2025
- Spread changed (observed)Sep 30, 2025
- Mark recoveredSep 30, 2025
- Mark recoveredJun 30, 2025
- Spread changed (observed)Jun 30, 2025
- Facility left every BDC scheduleJun 30, 2025
- Marked down across lendersDec 31, 2024
- Marked down (one lender)Dec 31, 2024
- Marked down across lendersJun 30, 2024
- Marked down (one lender)Jun 30, 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
- CUBICderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived
- Industry
- Software & Servicesreportedas one filer wrote it