DFX Intelligence
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Borrower
V•••••••• H•••••••• L••
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
100¢ · 100¢ · 101¢ · 100¢ · 100¢Q2 2025 to Q2 2026
Principal held
at least $42.6M
sum of BDC pieces, a lower bound
Fair value
$30.9M
100c on cost, debt pieces
Unfunded
$8.3M
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
3
1 equity pieces beside them
Next maturity
Oct 12, 2028
no dated debt inside 24 months
On the tape since
Dec 31, 2022
latest Jun 30, 2026
Events
4
dated, non-routine
Lender marks
each lender's own fair value over cost at Jun 30, 2026, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| T•• T••• B•••• C•••••• I••••• F••• | $42.6M | 100¢ | 0 pts |
Every BDC piece · 6 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| T•• T••• B•••• C•••••• I••••• F••• | delayed draw term loan first lien F•••• lien senior secured delayed draw term loan 1 | $16.5M | $8.2M 100c | S+550 bp |
| T•• T••• B•••• C•••••• I••••• F••• | term loan first lien F•••• lien senior secured term loan | $11.5M | $11.5M 101c | S+550 bp |
| T•• T••• B•••• C•••••• I••••• F••• | delayed draw term loan first lien F•••• lien senior secured delayed draw term loan 2 | $11.5M | $11.3M 100c | S+550 bp |
| T•• T••• B•••• C•••••• I••••• F••• | revolver first lien F•••• lien senior secured revolving loan | $3.1M | -$17,000 100c | S+550 bp |
| T•• T••• B•••• C•••••• I••••• F••• | unstated lien unstated | Not disclosed | Not disclosed |
View all 6 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| T•• T••• B•••• C•••••• I••••• F••• | unstated lien unstated | Not disclosed | Not disclosed |
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien delayed draw term loan first lien | at least $28.0M | 100c | S+550 bp | Oct 12, 2028 | 1 |
| first lien term loan first lien | at least $11.5M | 101c | S+550 bp | Oct 12, 2028 | 1 |
| first lien revolver first lien | at least $3.1M | n/a | S+550 bp | Oct 12, 2028 | 1 |
Equity pieces beside the debt: other (Not disclosed fair value, 1 BDC)
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 | $42.6M | $30.9M | 100c | 0 |
| Mar 31, 2026 | 1 | $42.6M | $30.2M | 101c | 0 |
| Dec 31, 2025 | 1 | $85.4M | $54.3M | 101c | 0 |
| Sep 30, 2025 | 1 | $42.8M | $27.1M | 100c | 0 |
All 12 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 1 | $23.7M | $18.3M | 100c | 0 |
| Mar 31, 2025 | 1 | $23.8M | $16.5M | 100c | 0 |
| Dec 31, 2024 | 1 | $23.8M | $14.5M | 100c | 0 |
| Sep 30, 2024 | 1 | $23.8M | $11.6M | 101c | 0 |
| Jun 30, 2024 | 1 | $23.9M | $11.6M | 100c | 0 |
| Mar 31, 2024 | 1 | $23.9M | $9.8M | 100c | 0 |
| Dec 31, 2023 | 1 | $23.9M | $8.6M | 100c | 0 |
| Dec 31, 2022 | 1 | $0 | $0 | n/a | 0 |
What changed
- Spread changed (observed)Sep 30, 2024
- Spread changed (observed)Sep 30, 2024
- Spread changed (observed)Sep 30, 2024
- New borrower on a BDC scheduleDec 31, 2022
Sponsor
Possible relationship, not established: A•••• C•••••• P•••••••• L•, because a company of this name is on the sponsor's portfolio page (confidence 0.6). No deal announcement or filing names it as a party, so it is not shown as this borrower’s sponsor.
- A•••• C•••••• P•••••••• L•
- the sponsor's own portfolio page lists a company of this nameestimatedaligncp.com"••• Locked"
- L••••• C•••••• P•••••••
- the sponsor's own portfolio page lists a company of this nameestimatedlinden.com"••• Locked"
Identity
- Group key
- VETEVOLVEderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived