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
B•• H••••••• I• C•••
Commercial Services & Suppliesgroup grade Aon a schedule nowsponsor unattributed
Also written as: Capital Goods; Diversified Manufacturing
Principal held
at least $98.0M
sum of BDC pieces, a lower bound
Fair value
$65.1M
69c on cost, debt pieces
Unfunded
n/a
commitments not yet drawn
BDC lenders
7
6 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
Jul 30, 2029
no dated debt inside 24 months
On the tape since
Dec 31, 2022
latest Jun 30, 2026
Events
9
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 $98.0M | 69c | SOFR+785 bp PIK 11.60% | Jul 30, 2029 | 6 |
| other lien unstated exited Dec 31, 2024 | at least $34.3M | 92c | S+600 bp | unstated | 4 |
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B•••••• B••• I••• | term loan first lien First Lien Senior Secured Term Loan | $14.8M | $11.6M 81c | S+785 bp PIK 11.60% |
| B•••••• C•••••• I••••••••• C••• | term loan first lien First Lien Senior Secured Term Loan | $9.9M | $7.7M 81c | S+785 bp |
| B•••••• P•••••• C••••• C••• | term loan first lien First Lien Senior Secured Term Loan | $24.7M | $19.3M 81c | S+785 bp PIK 11.60% |
| M••••• S•••••• D••••• L•••••• F••• | term loan first lien Investment First Lien Debt Reference Rate and Spread S + 7.85% PIK Interest Rate 11.58% Ma | $12.2M | $6.7M 57c | SOFR+785 bp |
| N•••• H•••• P•••••• I••••• F••• L•• | term loan first lien Investment First Lien Debt Reference Rate & Spread S + 7.85% PIK Interest Rate 11.58% Matu | $27.5M | $15.0M 57c | 11.58% PIK 7.85% |
| T• S••••• B•• L•• | term loan first lien Investment First Lien Debt Reference Rate and Spread S + 7.85%PIK Interest Rate 11.58% Mat | $8.9M | $4.8M 57c | SOFR+785 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 | 6 | $98.0M | $65.1M | 69c | 3 |
| Mar 31, 2026 | 6 | $96.0M | $76.8M | 83c | 6 |
| Dec 31, 2025 | 5 | $93.5M | $73.1M | 82c | 6 |
| Sep 30, 2025 | 5 | $82.2M | $69.1M | 88c | 4 |
| Jun 30, 2025 | 6 | $92.5M | $82.3M | 94c | 0 |
| Mar 31, 2025 | 6 | $92.7M | $82.2M | 94c | 0 |
| Dec 31, 2024 | 6 | $176M | $154M | 93c | 0 |
| Sep 30, 2024 | 6 | $85.3M | $78.1M | 97c | 0 |
| Jun 30, 2024 | 6 | $76.1M | $69.4M | 96c | 0 |
| Mar 31, 2024 | 7 | $85.7M | $82.5M | 102c | 0 |
| Dec 31, 2023 | 7 | $95.4M | $91.4M | 101c | 0 |
| Sep 30, 2023 | 7 | $86.1M | $82.5M | 102c | 0 |
| Jun 30, 2023 | 7 | $86.4M | $82.1M | 101c | 0 |
| Mar 31, 2023 | 7 | $94.7M | $89.4M | 101c | 0 |
| Dec 31, 2022 | 4 | $46.8M | $43.8M | 100c | 0 |
What changed
- Marked down across lendersJun 30, 2026
- Spread changed (observed)Jun 30, 2026
- PIK interest increasedJun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- PIK interest increasedJun 30, 2026
- PIK interest increasedJun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
- PIK interest increasedJun 30, 2026
- Spread increasedJun 30, 2026
- Spread changed (observed)Mar 31, 2026
- Marked down across lendersDec 31, 2025
- Marked down (one lender)Dec 31, 2025
- Marked down (one lender)Dec 31, 2025
- Marked down (one lender)Dec 31, 2025
- PIK interest appearsDec 31, 2025
- Marked down across lendersSep 30, 2025
- PIK interest appearsSep 30, 2025
- Spread changed (observed)Sep 30, 2025
- Marked down (one lender)Sep 30, 2025
- Marked down (one lender)Sep 30, 2025
- Marked down (one lender)Sep 30, 2025
- Marked down (one lender)Sep 30, 2025
- Spread increasedSep 30, 2025
- Spread increasedSep 30, 2025
- PIK interest appearsSep 30, 2025
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- BPG HOLDINGS IVderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 7 BDCsderived
- Industry
- Commercial Services & Suppliesreportedas one filer wrote it