DFX Intelligence
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Borrower
F••••••• R••••••• A••••••••• L••
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
101¢ · 101¢Q2 2024 to Q3 2024
Principal held
unknown
sum of BDC pieces, a lower bound
Fair value
Not disclosed
n/a on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
3
2 on the latest quarter
Facilities
5
1 equity pieces beside them
Next maturity
Nov 6, 2031
no dated debt inside 24 months
On the tape since
Dec 31, 2022
latest Sep 30, 2025
Events
11
dated, non-routine
Lender marks
each lender's own fair value over cost at Sep 30, 2025, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| L••• A••••• P•••••• C••••• F••• | no principal filed | no cost filed | no comparable mark |
| L••• A••••• P•••••• C••••• F••• S• | no principal filed | no cost filed | no comparable mark |
Every BDC piece · 4 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| L••• A••••• P•••••• C••••• F••• | revolver lien unstated R•••••••) | Not disclosed | Not disclosed | |
| L••• A••••• P•••••• C••••• F••• | delayed draw term loan lien unstated D•••••• D•••) | Not disclosed | Not disclosed | |
| L••• A••••• P•••••• C••••• F••• S• | delayed draw term loan lien unstated D•••••• D•••) | Not disclosed | Not disclosed | |
| L••• A••••• P•••••• C••••• F••• S• | revolver lien unstated R•••••••) | Not disclosed | Not disclosed |
Capital structure as the BDCs see it
latest quarter end Sep 30, 2025
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Sep 30, 2024 | at least $25.2M | 101c | S+600 bp | Apr 28, 2026 | 1 |
| first lien delayed draw term loan first lien exited Sep 30, 2024 | at least $5.6M | 101c | S+600 bp | Apr 28, 2026 | 1 |
| first lien revolver first lien exited Sep 30, 2024 | at least $2.2M | 101c | S+600 bp | Apr 28, 2026 | 1 |
| revolver lien unstated exited Sep 30, 2025 | unknown | n/a | Nov 6, 2031 | 2 | |
| delayed draw term loan lien unstated exited Sep 30, 2025 | unknown | n/a | Nov 6, 2031 | 2 |
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 |
|---|---|---|---|---|---|
| Sep 30, 2025 | 2 | $0 | $0 | n/a | 0 |
| Jun 30, 2025 | 2 | $0 | $0 | n/a | 0 |
| Dec 31, 2024 | 3 | $0 | $0 | n/a | 0 |
| Sep 30, 2024 | 1 | $33.0M | $32.4M | 101c | 0 |
All 10 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2024 | 1 | $33.1M | $31.5M | 101c | 0 |
| Mar 31, 2024 | 1 | $25.2M | $22.2M | 100c | 0 |
| Dec 31, 2023 | 1 | $26.1M | $22.2M | 100c | 0 |
| Sep 30, 2023 | 1 | $22.8M | $21.0M | 100c | 0 |
| Jun 30, 2023 | 1 | $22.0M | $18.5M | 100c | 0 |
| Dec 31, 2022 | 1 | $0 | $0 | n/a | 0 |
What changed
- Facility left every BDC scheduleSep 30, 2025
- Facility left every BDC scheduleSep 30, 2025
- Facility left every BDC scheduleSep 30, 2024
- Facility left every BDC scheduleSep 30, 2024
- Spread changed (observed)Sep 30, 2024
Full timeline · 13 eventsShow fewer
- Facility left every BDC scheduleSep 30, 2024
- Spread increasedSep 30, 2024
- Spread changed (observed)Jun 30, 2024
- Spread changed (observed)Jun 30, 2024
- Spread changed (observed)Jun 30, 2024
- Maturity extended (observed)Dec 31, 2023
- Maturity extended (observed)Dec 31, 2023
- New borrower on a BDC scheduleDec 31, 2022
Sponsor
- G•••••• C••••••
- the sponsor's own portfolio page lists a company of this nameestimatedgencap.com"••• Locked"
Identity
- Group key
- FLOURISH RESEARCHderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 3 BDCsderived