DFX Intelligence
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Borrower
W•••••• I••
Food Productsgroup grade Aon a schedule nowsponsor unattributed
Also written as: Food Products; Second Out
Principal held
at least $23.6M
sum of BDC pieces, a lower bound
Fair value
$19.9M
84c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
5
3 on the latest quarter
Facilities
2
1 equity pieces beside them
Next maturity
Apr 19, 2030
no dated debt inside 24 months
On the tape since
Jul 28, 2022
latest Jun 30, 2026
Events
13
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 $23.6M | 84c | SOFR+625 bp PIK 10.24% | Oct 19, 2030 | 5 |
| term loan lien unstated exited Jun 30, 2025 | unknown | n/a | PIK 1.75% | unstated | 1 |
Equity pieces beside the debt: other ($10.7M fair value, 1 BDC)
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| H•••••• P••• C•••••••• I•••••• I••• | term loan first lien F•••• L••• D••• I••••••• E••••••••• S••••••• and M••••••••• H••••• IR 10.24% S••••• A•••• | $620,880 | $520,297 84c | SOFR+625 bp |
| O••• D••••• L•••••• B•• F••• | term loan first lien F•••• L••• T••• L••• R•••••••• R••• and S••••• 3M S••• + 5.00% F•••• 1.00% I••••••• R••• 8 | $4.5M | $4.5M 100c | SOFR+500 bp |
| P••••••• C•••••• C••• | term loan first lien F•••• L••• T••• L••• | Not disclosed | Not disclosed | S+625 bp PIK 10.24% |
| P••••••• C•••••• C••• | term loan first lien S••••• Out F•••• L••• T••• L••• | $18.5M | $14.9M 81c | S+625 bp |
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 | 3 | $23.6M | $19.9M | 84c | 1 |
| Mar 31, 2026 | 3 | $26.6M | $23.3M | 88c | 2 |
| Dec 31, 2025 | 4 | $36.6M | $31.7M | 87c | 5 |
| Sep 30, 2025 | 5 | $39.9M | $35.5M | 92c | 3 |
| Jun 30, 2025 | 5 | $58.4M | $49.6M | 87c | 6 |
| Mar 31, 2025 | 5 | $50.6M | $40.2M | 85c | 5 |
| Dec 31, 2024 | 5 | $81.1M | $75.0M | 100c | 2 |
| Sep 30, 2024 | 5 | $55.7M | $36.1M | 66c | 0 |
| Jun 30, 2024 | 5 | $56.1M | $40.6M | 74c | 0 |
| Mar 31, 2024 | 5 | $56.6M | $50.3M | 91c | 0 |
| Dec 31, 2023 | 5 | $71.0M | $65.3M | 94c | 0 |
| Sep 30, 2023 | 3 | $24.9M | $21.3M | 87c | 0 |
| Jun 30, 2023 | 3 | $80.9M | $73.4M | 94c | 0 |
| Mar 31, 2023 | 2 | $38.4M | $36.1M | 98c | 0 |
| Dec 31, 2022 | 5 | $61.0M | $57.2M | 97c | 0 |
| Sep 30, 2022 | 1 | $29.0M | $27.1M | 99c | 0 |
| Jul 28, 2022 | 1 | $0 | $0 | n/a | 0 |
What changed
- Marked down (one lender)Jun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- PIK interest appearsMar 31, 2026
- Lender left a facilityDec 31, 2025
- Mark recoveredSep 30, 2025
- Spread increasedSep 30, 2025
- Maturity shortened (observed)Sep 30, 2025
- Spread changed (observed)Jun 30, 2025
- Spread increasedJun 30, 2025
- Facility left every BDC scheduleJun 30, 2025
- Marked down across lendersMar 31, 2025
- Marked down (one lender)Mar 31, 2025
- Marked down (one lender)Mar 31, 2025
- Marked down (one lender)Mar 31, 2025
- Marked down (one lender)Mar 31, 2025
- Marked down (one lender)Mar 31, 2025
- PIK interest appearsMar 31, 2025
- PIK interest appearsMar 31, 2025
- PIK interest appearsMar 31, 2025
- Maturity extended (observed)Mar 31, 2025
- Mark recoveredDec 31, 2024
- PIK interest appearsDec 31, 2024
- Maturity extended (observed)Dec 31, 2024
- Spread changed (observed)Dec 31, 2024
- PIK interest appearsDec 31, 2024
- Maturity extended (observed)Dec 31, 2024
- Maturity extended (observed)Dec 31, 2024
- Maturity extended (observed)Dec 31, 2024
- Marked down across lendersSep 30, 2024
- Marked down (one lender)Sep 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
- WELLFULderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 5 BDCsderived
- Industry
- Food Productsreportedas one filer wrote it