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.
Borrower
Varo ESI Buyer, LLC
Aerospace & Defensegroup grade Aon a schedule nowsponsor unattributed
Principal held
at least $15.5M
sum of BDC pieces, a lower bound
Fair value
$15.5M
100c on cost, debt pieces
Unfunded
n/a
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
May 10, 2032
no dated debt inside 24 months
On the tape since
Jun 30, 2026
latest Jun 30, 2026
Events
1
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 $15.5M | 100c | SOFR+550 bp | May 10, 2032 | 2 |
| first lien revolver first lien | at least $0 | n/a | May 10, 2032 | 2 |
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| Bain Capital Private Credit | revolver first lien First Lien Senior Secured Loan - Revolver Maturity Date 5/10/2032 | n/a | $-13,000 100c | |
| Bain Capital Private Credit | term loan first lien First Lien Senior Secured Loan SOFR Floor 1.00% Spread 5.50% Interest Rate 9.15% Maturity | $13.0M | $12.9M 100c | SOFR+550 bp |
| Bain Capital Specialty Finance, Inc. | revolver first lien First Lien Senior Secured Loan - Revolver Maturity Date 5/10/2032 | $0 | $-3,000 100c | |
| Bain Capital Specialty Finance, Inc. | term loan first lien First Lien Senior Secured Loan SOFR Floor 1.00% Spread 5.50% Interest Rate 9.15% Maturity | $2.6M | $2.6M 100c | SOFR+550 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 | $15.5M | $15.5M | 100c | 0 |
What changed
- New borrower on a BDC scheduleJun 30, 2026
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- VARO ESIderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived
- Industry
- Aerospace & Defensereportedas one filer wrote it