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
W•• H•••••••• L••
group grade Aon a schedule nowsponsor unattributed
Also written as: Blade Landscape Investments
Principal held
at least $9.2M
sum of BDC pieces, a lower bound
Fair value
$9.3M
100c on cost, debt pieces
Unfunded
n/a
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
3
1 equity pieces beside them
Next maturity
Apr 11, 2030
no dated debt inside 24 months
On the tape since
Jun 30, 2024
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 |
|---|---|---|---|---|---|
| term loan lien unstated | at least $5.5M | 100c | //stelluscapital.com/20260630#Six Month Term Secured Overnight Financing Rate+550 bp | Apr 11, 2030 | 2 |
| delayed draw term loan lien unstated | at least $3.1M | 100c | SOFR+550 bp | Apr 11, 2030 | 2 |
| revolver lien unstated | at least $587,777 | 99c | SOFR+550 bp | Apr 11, 2030 | 2 |
Equity pieces beside the debt: equity ($352,287 fair value, 2 BDCs)
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| S•••••• C•••••• I••••••••• C••• | equity equity Class A Units | n/a | $250,463 139c | |
| S•••••• C•••••• I••••••••• C••• | term loan lien unstated Term Loan (SBIC) | $2.7M | $2.6M 100c | 5.50% |
| S•••••• C•••••• I••••••••• C••• | delayed draw term loan lien unstated Delayed Draw Term Loan | $1.3M | $1.3M 100c | 5.50% |
| S•••••• C•••••• I••••••••• C••• | revolver lien unstated Revolver One | $109,877 | $108,778 99c | 5.50% |
| S•••••• C•••••• I••••••••• C••• | delayed draw term loan lien unstated Delayed Draw Term Loan One | $882,574 | $873,748 100c | 5.50% |
| S•••••• C•••••• I••••••••• C••• | revolver lien unstated Revolver | $214,260 | $212,117 99c | 5.50% |
| S•••••• C•••••• I••••••••• C••• | term loan lien unstated Term Loan (SBIC) One | $422,616 | $418,390 100c | 5.50% |
| S•••••• P•••••• C••••• B•• | equity equity Class A Units | n/a | $101,824 139c | |
| S•••••• P•••••• C••••• B•• | revolver lien unstated Revolver | $131,820 | $86,264 99c | SOFR+550 bp |
| S•••••• P•••••• C••••• B•• | revolver lien unstated Revolver One | $131,820 | $44,238 99c | SOFR+550 bp |
| S•••••• P•••••• C••••• B•• | delayed draw term loan lien unstated Delayed Draw Term Loan | $358,924 | $355,335 100c | SOFR+550 bp |
| S•••••• P•••••• C••••• B•• | term loan lien unstated Term Loan One | $171,869 | $170,150 100c | SOFR+550 bp |
| S•••••• P•••••• C••••• B•• | term loan lien unstated Term Loan (PBDC SPV) | $301,765 | $298,747 100c | SOFR+550 bp |
| S•••••• P•••••• C••••• B•• | delayed draw term loan lien unstated Delayed Draw Term Loan One | $536,672 | $531,305 100c | SOFR+550 bp |
| S•••••• P•••••• C••••• B•• | term loan lien unstated Term Loan Two | $1.2M | $1.2M 100c | SOFR+550 bp |
| S•••••• P•••••• C••••• B•• | term loan lien unstated Term Loan | $775,967 | $768,207 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 | $9.2M | $9.0M | 100c | 0 |
| Mar 31, 2026 | 2 | $7.8M | $7.7M | 100c | 0 |
| Dec 31, 2025 | 2 | $8.1M | $8.1M | 101c | 0 |
| Sep 30, 2025 | 2 | $8.1M | $8.1M | 101c | 0 |
| Jun 30, 2025 | 2 | $6.3M | $6.3M | 101c | 0 |
| Mar 31, 2025 | 2 | $4.9M | $4.8M | 100c | 0 |
| Dec 31, 2024 | 2 | $8.8M | $8.6M | 100c | 0 |
| Sep 30, 2024 | 2 | $4.1M | $4.0M | 99c | 0 |
| Jun 30, 2024 | 2 | $3.9M | $3.9M | 100c | 0 |
What changed
- New borrower on a BDC scheduleJun 30, 2024
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- WER HOLDINGSderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived