DFX Intelligence
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Borrower
J• I••••••••• B• L••
Beveragesgroup grade Aon a schedule nowsponsor unattributed
Also written as: Blocker, LLC; First Out New Money; LLC- Consumer goods: Non-durable; Second Out; Third Out
Principal held
at least $38.4M
sum of BDC pieces, a lower bound
Fair value
$86.6M
97c on cost, debt pieces
Unfunded
n/a
commitments not yet drawn
BDC lenders
4
3 on the latest quarter
Facilities
1
2 equity pieces beside them
Next maturity
Sep 30, 2030
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
17
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 $38.4M | 97c | SOFR+700 bp | Mar 31, 2031 | 3 |
Equity pieces beside the debt: equity ($19.0M fair value, 2 BDCs), preferred equity (n/a fair value, 1 BDC)
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B•••••••• D••••• L•••••• C•••• | term loan first lien I••••••••• F•••• L••• T••• L••• Ref S•••(Q) F•••• 1.00% S••••• 7.00% T•••• C••••• 10.73% M | $181,545 | $180,819 111c | SOFR+700 bp |
| B•••••••• D••••• L•••••• C•••• | term loan first lien I••••••••• F•••• L••• S••••• Out T••• L••• Ref S•••(Q) F•••• 1.00% S••••• 5.50% T•••• C••• | $654,495 | $345,573 57c | SOFR+550 bp |
| C••• I••••••••• C••• | term loan first lien F•••• Out New M•••• T••• L••• | C••••••••• Investments | n/a | $6.9M | |
| C••• I••••••••• C••• | term loan first lien S••••• S•••••• F•••• L••• D••• | $3.5M | $3.0M 1390c | S+550 bp |
| C••• I••••••••• C••• | term loan first lien S••••• S•••••• F•••• L••• D••• | $27.2M | $23.7M 87c | S+550 bp |
| C••• I••••••••• C••• | term loan first lien S••••• S•••••• F•••• L••• D••• | $6.9M | $6.9M 100c | S+700 bp |
| C••• I••••••••• C••• | term loan first lien S••••• Out T••• L••• | C••••••••• Investments | n/a | $23.7M | |
| C••• I••••••••• C••• | term loan first lien T•••• Out T••• L••• | C••••••••• Investments | n/a | $3.0M | |
| C••• I••••••••• C••• | equity equity C••••• S••••• | C••••••••• Investments | n/a | $19.0M | |
| O•• C•••••• C••• | term loan first lien Investment T••• F•••• L••• D••• | n/a | n/a |
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 | $38.4M | $67.6M | 193c | 0 |
| Mar 31, 2026 | 3 | $39.3M | $66.8M | 181c | 1 |
| Dec 31, 2025 | 3 | $112M | $164M | 153c | 2 |
| Sep 30, 2025 | 3 | $36.3M | $65.1M | 179c | 0 |
| Jun 30, 2025 | 3 | $73.0M | $48.4M | 164c | 0 |
| Mar 31, 2025 | 3 | $60.0M | $40.9M | 146c | 0 |
| Dec 31, 2024 | 3 | $66.3M | $49.0M | 146c | 0 |
| Sep 30, 2024 | 3 | $43.0M | $32.9M | 128c | 0 |
| Jun 30, 2024 | 3 | $43.5M | $35.1M | 137c | 0 |
| Mar 31, 2024 | 3 | $41.5M | $32.8M | 131c | 0 |
| Dec 31, 2023 | 3 | $41.1M | $31.7M | 129c | 0 |
| Sep 30, 2023 | 3 | $20.6M | $16.0M | 86c | 0 |
| Jun 30, 2023 | 3 | $20.0M | $15.4M | 86c | 0 |
| Mar 31, 2023 | 3 | $20.3M | $13.1M | 72c | 0 |
| Dec 31, 2022 | 3 | $26.1M | $20.4M | 80c | 0 |
| Sep 30, 2022 | 2 | $19.1M | $15.2M | 81c | 0 |
| Dec 31, 2021 | 2 | $25.8M | $24.6M | 97c | 0 |
What changed
- returned to accrualJun 30, 2026
- non accrual placedMar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- PIK interest appearsDec 31, 2025
- Marked down (one lender)Dec 31, 2025
- Spread increasedDec 31, 2025
- Spread increasedDec 31, 2025
- PIK interest appearsDec 31, 2025
- Marked down across lendersSep 30, 2025
- Spread changed (observed)Sep 30, 2025
- Maturity extended (observed)Sep 30, 2025
- Marked down (one lender)Sep 30, 2025
- Spread increasedSep 30, 2025
- Spread increasedSep 30, 2025
- Maturity extended (observed)Sep 30, 2025
- Maturity extended (observed)Sep 30, 2025
- nport default reportedJun 30, 2025••• Locked
- Marked down (one lender)Jun 30, 2025
- Marked down (one lender)Jun 30, 2025
- non accrual placedMar 31, 2025
- Marked down (one lender)Mar 31, 2025
- Marked down (one lender)Mar 31, 2025
- Spread changed (observed)Dec 31, 2024
- Marked down (one lender)Dec 31, 2024
- Marked down (one lender)Dec 31, 2024
- Spread increasedDec 31, 2024
- Spread increasedDec 31, 2024
- Spread increasedDec 31, 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
- J• I••••••••• B•derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 4 BDCsderived
- Industry
- Beveragesreportedas one filer wrote it