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.
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Borrower
O••••••••• N•••• A••••••• I••
Softwaregroup grade Aon a schedule nowsponsor unattributed
Also written as: O••••••••• Sweden Holdings AB
Principal held
at least $262M
sum of BDC pieces, a lower bound
Fair value
$256M
97c on cost, debt pieces
Unfunded
$19.4M
commitments not yet drawn
BDC lenders
17
16 on the latest quarter
Facilities
5
1 equity pieces beside them
Next maturity
Oct 1, 2031
no dated debt inside 24 months
On the tape since
Jun 30, 2023
latest Jun 30, 2026
Events
8
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 $221M | 97c | SOFR+600 bp PIK 3.00% | Oct 30, 2031 | 15 |
| revolver lien unstated | at least $41.2M | 99c | S+600 bp PIK 2.50% | Oct 30, 2031 | 4 |
| first lien revolver first lien | at least $0 | n/a | SOFR+500 bp | Oct 30, 2031 | 7 |
| other lien unstated | unknown | n/a | unstated | 10 | |
| second lien revolver second lien | unknown | n/a | unstated | 2 |
Equity pieces beside the debt: equity ($782,000 fair value, 2 BDCs)
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A••• C•••••• C••• | unstated lien unstated | n/a | n/a | |
| A••• C•••••• C••• | term loan first lien First lien senior secured loan | $5.6M | $5.3M 95c | S+550 bp PIK 2.50% |
| A••• C•••••• C••• | term loan first lien First lien senior secured loan 2 | $900,000 | $900,000 100c | S+600 bp PIK 2.50% |
| A••• C•••••• C••• | term loan first lien First lien senior secured loan 1 | $2.2M | $2.1M 105c | S+575 bp PIK 2.50% |
| B••••••••• P•••••• C••••• F••• | revolver lien unstated Non-Affiliated Issuer | $7.1M | $7.8M 102c | S+575 bp PIK 2.50% |
| B••••••••• P•••••• C••••• F••• | revolver lien unstated Non-Affiliated Issuer | $2.1M | $2.7M 99c | S+600 bp PIK 2.50% |
| B••••••••• P•••••• C••••• F••• | revolver lien unstated Non-Affiliated Issuer | $20.1M | $19.4M 97c | S+550 bp PIK 2.50% |
| B••••••••• P•••••• C••••• F••• | revolver lien unstated Revolver | n/a | n/a | |
| B••••••••• S•••••• L•••••• F••• | revolver lien unstated Non-Affiliated Issuer | $857,000 | $1.1M 99c | S+600 bp PIK 2.50% |
| B••••••••• S•••••• L•••••• F••• | revolver lien unstated Non-Affiliated Issuer | $2.9M | $3.2M 102c | S+575 bp PIK 2.50% |
| B••••••••• S•••••• L•••••• F••• | revolver lien unstated Non-Affiliated Issuer | $8.1M | $7.8M 97c | S+550 bp PIK 2.50% |
| B••••••••• S•••••• L•••••• F••• | revolver lien unstated Revolver | n/a | n/a | |
| C•••••• C••••• S••••••••• I••• | term loan first lien Investment | Non-Affiliated Issuer | First Lien Debt | $1.2M | $1.5M 95c | S+350 bp PIK 2.50% |
| C•••••• C••••• S••••••••• I••• | revolver second lien Investments | Non-Affiliated Issuer | First and Second Lien Debt | Revolver | n/a | n/a | |
| C•••••• C••••• S••••••••• I••• | term loan first lien Investment | Non-Affiliated Issuer | First Lien Debt | $3.0M | $3.2M 98c | S+325 bp PIK 2.50% |
| C•••••• C••••• S••••••••• I••• | term loan first lien Investment | Non-Affiliated Issuer | First Lien Debt | $8.9M | $8.1M 92c | S+300 bp PIK 2.50% |
| C•••••• S•••••• L••••••• I••• | revolver second lien Investments | Non-Affiliated | First and Second Lien Debt | Revolver | n/a | n/a | |
| C•••••• S•••••• L••••••• I••• | term loan first lien Investment | Non-Affiliated Issuer | First Lien Debt | $7.1M | $6.5M 92c | S+300 bp PIK 2.50% |
| C•••••• S•••••• L••••••• I••• | term loan first lien Investment | Non-Affiliated Issuer | First Lien Debt | $962,000 | $1.2M 95c | S+350 bp PIK 2.50% |
| C•••••• S•••••• L••••••• I••• | term loan first lien Investment | Non-Affiliated Issuer | First Lien Debt | $2.4M | $2.5M 98c | S+325 bp PIK 2.50% |
| G•••• C•••••• B••• I••• | term loan first lien One stop 2 | Non-Affiliated Issuer | $15.4M | $14.9M 103c | S+575 bp PIK 2.50% |
| G•••• C•••••• B••• I••• | term loan first lien One stop 3 | Non-Affiliated Issuer | $5.9M | $5.8M 101c | S+600 bp PIK 2.50% |
| G•••• C•••••• B••• I••• | term loan first lien One stop 4 | Non-Affiliated Issuer | $0 | $-213,000 280c | |
| G•••• C•••••• B••• I••• | term loan first lien One stop 1 | Non-Affiliated Issuer | $38.0M | $36.7M 97c | S+550 bp PIK 2.50% |
| G•••• C•••••• B••• I••• | equity equity Common stock | Non-Affiliated Issuer | n/a | $782,000 77c | |
| M••••• S•••••• D••••• L•••••• F••• | term loan first lien Investment First Lien Debt Reference Rate and Spread S + 5.50% (incl. 3.00% PIK) Interest | $0 | $-46,000 511c | SOFR+6 bp PIK 3.00% |
| M••••• S•••••• D••••• L•••••• F••• | term loan first lien Investment First Lien Debt Reference Rate and Spread S + 5.50% (incl.3.00% PIK) Interest R | $8.3M | $8.0M 97c | SOFR+6 bp PIK 3.00% |
| M••••• S•••••• D••••• L•••••• F••• | term loan first lien Investment First Lien Debt Reference Rate and Spread E + 5.75% (incl. 3.00% PIK) Interest | $3.1M | $3.4M 102c | EURIBOR+6 bp PIK 3.00% |
| M••••• S•••••• D••••• L•••••• F••• | term loan first lien Investment First Lien Debt Reference Rate and Spread SA + 6.00% (incl. 3.00% PIK) Interest | $1.0M | $1.3M 99c | SONIA+6 bp PIK 3.00% |
| M••••• S•••••• D••••• L•••••• F••• | revolver first lien First Lien Debt Commitment Type Revolver Commitment Expiration Date 10/30/2031 | n/a | n/a | |
| N•• M••••••• G••••••• I• B••• L••••• | term loan first lien First Lien - Undrawn | $750,000 | $-20,000 667c | |
| N•• M••••••• G••••••• I• B••• L••••• | term loan first lien First Lien | $7.9M | $7.7M 98c | S+300 bp PIK 2.50% |
| N•• M••••••• G••••••• I• I••••• F•••• L••••• | term loan first lien First Lien - Undrawn | Non-Affiliated Issuer | $375,000 | $-10,000 1000c | |
| N•• M••••••• G••••••• I• I••••• F•••• L••••• | term loan first lien First Lien 1 | Non-Affiliated Issuer | $3.5M | $3.4M 98c | S+300 bp PIK 2.50% |
| N•• M••••••• G••••••• I• I••••• F•••• L••••• | term loan first lien First Lien 2 | Non-Affiliated Issuer | $470,000 | $457,000 98c | S+300 bp PIK 2.50% |
| N•••• H•••• P•••••• I••••• F••• A• L•• | term loan first lien Investment First Lien Debt Reference Rate and Spread SA + 6.00% (incl. 3.00% PIK) Interest | $371,000 | $474,000 99c | SONIA+600 bp PIK 3.00% |
| N•••• H•••• P•••••• I••••• F••• A• L•• | revolver first lien First Lien Debt Commitment Type Revolver Commitment Expiration Date 10/30/2031 | n/a | $-17,000 | |
| N•••• H•••• P•••••• I••••• F••• A• L•• | term loan first lien Investment First Lien Debt Reference Rate and Spread S + 5.50% (incl. 3.00% PIK) Interest | $0 | $-17,000 567c | SOFR+550 bp PIK 3.00% |
| N•••• H•••• P•••••• I••••• F••• A• L•• | term loan first lien Investment First Lien Debt Reference Rate and Spread S + 5.50% (incl. 3.00% PIK) Interest | $3.0M | $2.9M 97c | SOFR+550 bp PIK 3.00% |
| N•••• H•••• P•••••• I••••• F••• A• L•• | term loan first lien Investment First Lien Debt Reference Rate and Spread E + 5.75% (incl. 3.00% PIK) Interest | $1.1M | $1.2M 102c | EURIBOR+575 bp PIK 3.00% |
| N•••• H•••• P•••••• I••••• F••• L•• | term loan first lien Investment First Lien Debt Reference Rate and Spread S + 5.50% (incl. 2.50% PIK) Maturity | $6.3M | $6.1M 98c | SOFR+550 bp PIK 2.50% |
| N•••• H•••• P•••••• I••••• F••• L•• | term loan first lien Investment First Lien Debt Reference Rate & Spread S+ 5.50% (incl. 3.00% PIK) Interest Rat | $11.6M | $11.2M 97c | SOFR+550 bp PIK 3.00% |
| N•••• H•••• P•••••• I••••• F••• L•• | term loan first lien Investment First Lien Debt Reference Rate & Spread SA + 6.00% (incl. 3.00% PIK) Interest R | $2.2M | $2.8M 99c | SONIA+600 bp PIK 3.00% |
| N•••• H•••• P•••••• I••••• F••• L•• | term loan first lien Investment First Lien Debt Reference Rate & Spread E + 5.75% (incl. 3.00% PIK) Interest Ra | $6.6M | $7.3M 102c | EURIBOR+575 bp PIK 3.00% |
| N•••• H•••• P•••••• I••••• F••• L•• | term loan first lien Investment First Lien Debt Reference Rate and Spread S + 5.50% (incl. 2.50% PIK) Maturity | $0 | $-24,000 300c | SOFR+550 bp PIK 2.50% |
| N•••• H•••• P•••••• I••••• F••• L•• | revolver first lien First Lien Debt Commitment Type Revolver Commitment Expiration Date 10/30/2031 | n/a | n/a | |
| N•••• H•••• P•••••• I••••• F••• L•• | term loan first lien Investment First Lien Debt Reference Rate & Spread S + 5.50% (incl. 3.00% PIK) Interest Ra | $0 | $-76,000 507c | SOFR+550 bp PIK 3.00% |
| O•••••• S•••••••• L•••••• C••• | unstated lien unstated | n/a | n/a | |
| O•••••• S•••••••• L•••••• C••• | revolver first lien First Lien Revolver | $0 | $-77,000 592c | S+500 bp |
| O•••••• S•••••••• L•••••• C••• | term loan first lien First Lien Term Loan | $11.3M | $10.7M 96c | S+550 bp PIK 2.50% |
| O•••••• S•••••••• C••••• F••• | unstated lien unstated | n/a | n/a | |
| O•••••• S•••••••• C••••• F••• | revolver first lien First Lien Revolver | $0 | $-282,000 588c | S+500 bp |
| O•••••• S•••••••• C••••• F••• | term loan first lien First Lien Term Loan | $41.6M | $39.4M 96c | S+550 bp PIK 2.50% |
| P••••• S••••• C•••••• B•• I••• | term loan first lien Investment First Lien Senior S•••••• Loan Interest Rate 9.12% (S + 5% cash)/S + 5.50% incl | $4.5M | $4.3M 95c | SOFR+550 bp PIK 1.25% |
| S•••••••• P•••••• C••••• F••• L•• | term loan first lien Term Loan | NCNA Debt Inv. | First Lien Senior S•••••• Loan | 9.14% / 2.50% | 10/30/2031 | $7.5M | $7.3M 99c | SOFR+550 bp PIK 2.50% |
| S•••••••• P•••••• C••••• F••• L•• | revolver first lien Revolving Credit | NCNA Debt Inv. | First Lien Senior S•••••• Loan | 10/30/2031 | $0 | $-12,000 133c | SOFR+50 bp |
| S•••••••• P•••••• C••••• F••• L•• | term loan first lien Term Loan | NCNA Debt Inv. | First Lien Senior S•••••• Loan | 9.14% / 2.50% | 10/30/2031 O | $5.2M | $5.1M 99c | SOFR+550 bp PIK 2.50% |
| T• S••••• B•• L•• | revolver first lien First Lien Debt Commitment Type Revolver Commitment Expiration Date 10/30/2031 | n/a | n/a | |
| T• S••••• B•• L•• | term loan first lien First Lien Debt Reference Rate and Spread S + 5.50% (incl. 3.00% PIK) Interest Rate 9.14% | $1.5M | $1.5M 97c | SOFR+550 bp PIK 3.00% |
| T• S••••• B•• L•• | term loan first lien First Lien Debt Reference Rate and Spread S + 5.50% (incl. 3.00% PIK) Interest Rate 9.14% | $0 | $-8,000 400c | SOFR+550 bp PIK 3.00% |
| T• S••••• B•• L•• | term loan first lien First Lien Debt Reference Rate and Spread SA + 6.00% (incl. 3.00% PIK) Interest Rate 9.73% | $186,000 | $237,000 99c | SONIA+600 bp PIK 3.00% |
| T• S••••• B•• L•• | term loan first lien First Lien Debt Reference Rate and Spread E + 5.75% (incl. 3.00% PIK) Interest Rate 7.80% | $557,000 | $613,000 102c | EURIBOR+575 bp PIK 3.00% |
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 | 16 | $262M | $255M | 97c | 44 |
| Mar 31, 2026 | 16 | $267M | $263M | 98c | 0 |
| Dec 31, 2025 | 16 | $290M | $291M | 101c | 0 |
| Sep 30, 2025 | 16 | $329M | $333M | 102c | 0 |
| Jun 30, 2025 | 16 | $270M | $275M | 102c | 0 |
| Mar 31, 2025 | 15 | $256M | $258M | 100c | 0 |
| Dec 31, 2024 | 16 | $431M | $430M | 99c | 0 |
| Sep 30, 2024 | 3 | $72.1M | $72.1M | 100c | 0 |
| Jun 30, 2024 | 1 | $71.3M | $71.3M | 99c | 0 |
| Mar 31, 2024 | 2 | $71.7M | $71.7M | 99c | 0 |
| Dec 31, 2023 | 2 | $72.4M | $71.7M | 99c | 0 |
| Sep 30, 2023 | 2 | $71.6M | $70.1M | 96c | 0 |
| Jun 30, 2023 | 2 | $72.5M | $69.5M | 95c | 0 |
What changed
- PIK interest appearsJun 30, 2026
- Spread changed (observed)Jun 30, 2026
- PIK interest appearsJun 30, 2026
- Spread changed (observed)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
- PIK interest appearsJun 30, 2026
- PIK interest appearsJun 30, 2026
- PIK interest appearsJun 30, 2026
- PIK interest appearsJun 30, 2026
- PIK interest appearsJun 30, 2026
- PIK interest appearsJun 30, 2026
- PIK interest appearsJun 30, 2026
- PIK interest appearsJun 30, 2026
- PIK interest appearsJun 30, 2026
- PIK interest appearsJun 30, 2026
- PIK interest appearsJun 30, 2026
- PIK interest appearsJun 30, 2026
- PIK interest appearsJun 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
- OPTIMIZELY NORTH AMERICAderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 17 BDCsderived
- Industry
- Softwarereportedas one filer wrote it