DFX Intelligence
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Borrower
B•• U••
Professional Servicesgroup grade Aon a schedule nowsponsor unattributed
Also written as: P.A; P.C. 2025
Principal held
at least $383M
sum of BDC pieces, a lower bound
Fair value
$374M
99c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
6
6 on the latest quarter
Facilities
1
1 equity pieces beside them
Next maturity
Aug 31, 2028
no dated debt inside 24 months
On the tape since
Sep 30, 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 $383M | 99c | SOFR+500 bp | Aug 31, 2028 | 6 |
Equity pieces beside the debt: other ($12.4M fair value, 1 BDC)
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A••••• D••• S•••••••• B•• | term loan first lien Investment T••• F•••• L••• S•••••• D••• - T••• L••• I••••••• R••• S+450, 2.00% F•••• M•••• | $34.0M | $32.7M 97c | SOFR+450 bp |
| A••••• D••• S•••••••• B•• | term loan first lien Investment T••• F•••• L••• S•••••• D••• - T••• L••• I••••••• R••• S+500, 2.00% F•••• M•••• | $196M | $191M 98c | SOFR+500 bp |
| D••••••• C••••• C• | term loan first lien F•••• L••• D••• T••• L••• I••••••• R••• 8.65% R•••••••• R••• S••• S••••• 5.00% A••••••••• | $53.6M | $53.5M 101c | SOFR+500 bp |
| D••••••• C••••• C• | term loan first lien F•••• L••• D••• T••• L••• I••••••• R••• 8.65% R•••••••• R••• S••• S••••• 4.50% A••••••••• | $2.2M | $2.2M 100c | SOFR+450 bp |
| M••••• F•••••••• I••••••••• C••• | term loan first lien F•••• L••• S•••••• D••• - T••• L••• S•••+500, 2.00% F•••• M••••••• D••• 08/31/28 | $11.7M | $11.4M 97c | SOFR+500 bp |
| M•• I••••••••• C•••• | term loan first lien F•••• L••• D••• R•••••••• R••• and S••••• S + 5.00% I••••••• R••• F•••• 2.00% I••••••• R•• | $67.1M | $65.5M 99c | SOFR+500 bp |
| S•••••••• P•••••• C••••• F••• L•• | term loan first lien T••• L••• | N••• D••• Inv. | F•••• L••• S••••• S•••••• L••• | 8/31/2028 | $311,000 | $308,000 100c | SOFR+450 bp |
| S•••••••• P•••••• C••••• F••• L•• | term loan first lien T••• L••• | N••• D••• Inv. | F•••• L••• S••••• S•••••• L••• | 8/31/2028 | $4.9M | $4.8M 100c | SOFR+500 bp |
| S•••• P•••• C••••• C••• | term loan first lien F•••• L••• T••• L•••, Due 8/31/2028 | $13.2M | $13.1M 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 | 6 | $383M | $374M | 99c | 0 |
| Mar 31, 2026 | 6 | $377M | $370M | 99c | 0 |
| Dec 31, 2025 | 6 | $358M | $357M | 101c | 0 |
| Sep 30, 2025 | 6 | $317M | $316M | 101c | 0 |
| Jun 30, 2025 | 6 | $318M | $316M | 101c | 0 |
| Mar 31, 2025 | 6 | $318M | $317M | 101c | 0 |
| Dec 31, 2024 | 6 | $339M | $338M | 101c | 0 |
| Sep 30, 2024 | 6 | $320M | $319M | 101c | 0 |
| Jun 30, 2024 | 5 | $309M | $306M | 101c | 0 |
| Mar 31, 2024 | 5 | $295M | $290M | 100c | 0 |
| Dec 31, 2023 | 3 | $273M | $267M | 100c | 0 |
| Sep 30, 2023 | 2 | $261M | $256M | 100c | 0 |
What changed
- Spread changed (observed)Dec 31, 2024
- Maturity shortened (observed)Dec 31, 2024
- New lender joined a facilitySep 30, 2024
- Maturity extended (observed)Mar 31, 2024
- New lender joined a facilityMar 31, 2024
- New lender joined a facilityDec 31, 2023
- New borrower on a BDC scheduleSep 30, 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
- B•• U••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 6 BDCsderived
- Industry
- Professional Servicesreportedas one filer wrote it