DFX Intelligence
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Borrower
B•• G•••• A••••••••• I••
group grade Aon a schedule nowsponsor unattributed
Also written as: Inc. - Line of Credit
What matters now
- 2 of 2 lenderson non-accrual
Non-accrual at 2 of 2 lenders on the latest schedules, first placed in Q2 2024.
since Q2 2024 · Interest has stopped accruing; the lenders no longer expect to be paid in full.
FactBDC schedules of investments, 30 Jun 2026For restructuring advisers, special situations funds, the lenders' LPsSee every lender → - 41¢ → 41¢consensus mark
Consensus mark 41¢ on cost, up from 41¢ a year ago, 38¢ last quarter.
Q2 2026 · The lenders' own valuations moved back up.
Derived2 of 2 lenders' own marks, weighted by principal - $25.9Mprincipal outstanding
$25.9M principal held by 2 lenders.
Q2 2026 · The loss if the marks hold, spread across the holders below.
FactBDC schedules of investments, 30 Jun 2026; a sum of the BDCs' pieces, a lower bound
Mark path, consensus per quarter end
41¢ · 42¢ · 45¢ · 38¢ · 41¢Q2 2025 to Q2 2026
Where each lender marks it, 0 points apart
41¢41¢
Principal held
at least $25.9M
sum of BDC pieces, a lower bound
Fair value
$10.7M
41c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
1
2 equity pieces beside them
Next maturity
unstated
no dated debt inside 24 months
On the tape since
Mar 31, 2022
latest Jun 30, 2026
Events
7
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 |
|---|---|---|---|
| G•••••••• I••••••••• C••••••••• | $18.1M | 41¢ | +4 pts |
| G•••••••• C•••••• C••• | $7.77M | 41¢ | -3 pts |
Every BDC piece · 12 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| G•••••••• I••••••••• C••••••••• | unstated lien unstated T••• D••• | $14.0M | $3.3M 24c | S+200 bp |
| G•••••••• C•••••• C••• | unstated lien unstated T••• D••• | $6.0M | $2.5M 41c | S+200 bp |
| G•••••••• I••••••••• C••••••••• | unstated lien unstated | $3.1M | $3.1M 100c | S+200 bp |
| G•••••••• C•••••• C••• | unstated lien unstated | $1.3M | $543,000 41c | S+200 bp |
| G•••••••• I••••••••• C••••••••• | unstated lien unstated | $1.1M | $1.1M 100c | S+200 bp |
View all 12 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| G•••••••• C•••••• C••• | unstated lien unstated | $450,000 | $185,000 41c | S+200 bp |
| G•••••••• C•••••• C••• | warrants equity C••••• S•••• W•••••• | Not disclosed | $0 | |
| G•••••••• C•••••• C••• | preferred equity equity P•••••••• S•••• | Not disclosed | $0 0c | |
| G•••••••• I••••••••• C••••••••• | warrants equity C••••• S•••• W••••••• | Not disclosed | $0 | |
| G•••••••• I••••••••• C••••••••• | preferred equity equity P•••••••• S•••• | Not disclosed | $0 0c | |
| G•••••••• I••••••••• C••••••••• | preferred equity equity P•••••••• S•••• | Not disclosed | $0 | |
| G•••••••• I••••••••• C••••••••• | warrants equity C••••• S•••• W••••••• | Not disclosed | $0 |
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| other lien unstated | at least $25.9M | 41c | S+200 bp | unstated | 2 |
Equity pieces beside the debt: preferred equity ($0 fair value, 2 BDCs), warrants ($0 fair value, 2 BDCs)
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 | $25.9M | $10.7M | 41c | 0 |
| Mar 31, 2026 | 2 | $39.9M | $15.2M | 38c | 0 |
| Dec 31, 2025 | 2 | $25.9M | $11.8M | 45c | 0 |
| Sep 30, 2025 | 2 | $25.9M | $11.0M | 42c | 0 |
All 17 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 2 | $25.9M | $10.7M | 41c | 0 |
| Mar 31, 2025 | 2 | $39.7M | $14.4M | 36c | 0 |
| Dec 31, 2024 | 2 | $25.5M | $9.7M | 38c | 0 |
| Sep 30, 2024 | 2 | $25.5M | $9.1M | 36c | 0 |
| Jun 30, 2024 | 2 | $25.5M | $13.1M | 52c | 0 |
| Mar 31, 2024 | 2 | $28.4M | $15.9M | 56c | 0 |
| Dec 31, 2023 | 2 | $24.0M | $12.7M | 53c | 0 |
| Sep 30, 2023 | 2 | $24.0M | $19.6M | 82c | 0 |
| Jun 30, 2023 | 2 | $24.0M | $22.8M | 95c | 0 |
| Mar 31, 2023 | 2 | $24.0M | $23.1M | 96c | 0 |
| Dec 31, 2022 | 2 | $24.0M | $23.4M | 98c | 0 |
| Sep 30, 2022 | 2 | $24.0M | $23.7M | 99c | 0 |
| Mar 31, 2022 | 1 | $16.8M | $16.8M | 100c | 0 |
What changed
- non accrual placedMar 31, 2026
- Marked down (one lender)Mar 31, 2026
- returned to accrualDec 31, 2025
- non accrual placedSep 30, 2025
- returned to accrualDec 31, 2024
Full timeline · 16 eventsShow fewer
- Marked down (one lender)Sep 30, 2024
- Marked down (one lender)Sep 30, 2024
- non accrual placedJun 30, 2024
- non accrual placedJun 30, 2024
- Marked down (one lender)Jun 30, 2024
- Spread increasedMar 31, 2024
- Marked down (one lender)Dec 31, 2023
- Marked down (one lender)Dec 31, 2023
- Marked down (one lender)Sep 30, 2023
- Marked down (one lender)Mar 31, 2023
- New borrower on a BDC scheduleMar 31, 2022
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 T GROUP ACQUISITIONderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived