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.
The names on this page are hidden. Create a free account and they fill in. No card, and every figure, date and source on this page is public either way.
Borrower
S•••• S••••• S•••• T••••• I••
Commercial Services & Suppliesgroup grade Aon a schedule nowsponsor unattributed
Principal held
at least $27.8M
sum of BDC pieces, a lower bound
Fair value
$27.3M
100c on cost, debt pieces
Unfunded
n/a
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
2
1 equity pieces beside them
Next maturity
Nov 6, 2029
no dated debt inside 24 months
On the tape since
Dec 31, 2023
latest Jun 30, 2026
Events
3
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 $27.5M | 100c | SOFR+500 bp | Nov 6, 2029 | 2 |
| first lien revolver first lien | at least $245,000 | 97c | SOFR+500 bp | Nov 6, 2029 | 2 |
Equity pieces beside the debt: other ($23.6M fair value, 2 BDCs)
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A••••• D••• S•••••••• B•• | revolver first lien Investment Type First Lien Secured D••• - Revolver Interest Rate S+500, 1.00% Floor Maturi | $147,000 | $121,000 97c | SOFR+500 bp |
| A••••• D••• S•••••••• B•• | term loan first lien Investment Type First Lien Secured D••• - Term Loan Interest Rate S+500, 1.00% Floor Matur | $16.5M | $16.3M 100c | SOFR+500 bp |
| M••••• F•••••••• I••••••••• C••• | revolver first lien First Lien Secured D••• - Revolver SOFR+500, 1.00% Floor Maturity Date 11/06/29 | $98,000 | $81,000 98c | SOFR+500 bp |
| M••••• F•••••••• I••••••••• C••• | term loan first lien First Lien Secured D••• - Term Loan SOFR+500, 1.00% Floor Maturity Date 11/06/29 | $11.0M | $10.8M 100c | SOFR+500 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 | 2 | $27.8M | $27.3M | 100c | 0 |
| Mar 31, 2026 | 2 | $27.6M | $27.1M | 100c | 0 |
| Dec 31, 2025 | 2 | $27.7M | $27.2M | 100c | 0 |
| Sep 30, 2025 | 2 | $23.9M | $23.5M | 100c | 0 |
| Jun 30, 2025 | 2 | $23.9M | $23.5M | 100c | 0 |
| Mar 31, 2025 | 2 | $24.0M | $23.6M | 100c | 0 |
| Dec 31, 2024 | 2 | $22.0M | $22.0M | 102c | 0 |
| Sep 30, 2024 | 2 | $22.0M | $22.0M | 102c | 0 |
| Jun 30, 2024 | 2 | $22.1M | $22.1M | 102c | 0 |
| Mar 31, 2024 | 2 | $24.9M | $21.8M | 101c | 0 |
| Dec 31, 2023 | 2 | $25.0M | $21.6M | 100c | 0 |
What changed
- Spread changed (observed)Jun 30, 2025
- Spread changed (observed)Mar 31, 2025
- New borrower on a BDC scheduleDec 31, 2023
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- SMITH SYSTEM SMITHderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived
- Industry
- Commercial Services & Suppliesreportedas one filer wrote it