DFX Intelligence
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Borrower
M••••••• S••••••••• L••
Software & Tech Servicesgroup grade Aon a schedule nowsponsor unattributed
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
100¢ · 100¢ · 100¢Q3 2025 to Q1 2026
Where each lender marks it on the first lien term loan, 0 points apart
100¢100¢
Principal held
at least $11.4M
sum of BDC pieces, a lower bound
Fair value
$11.3M
100c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
Aug 11, 2031
no dated debt inside 24 months
On the tape since
Sep 30, 2025
latest Mar 31, 2026
Events
3
dated, non-routine
Lender marks
each lender's own fair value over cost at Mar 31, 2026, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| A• P•••••• C••••• I•••••••• C••• | $7.83M | 100¢ | 0 pts |
| A• P•••••• L•••••• F••• | $3.59M | 100¢ | 0 pts |
Every BDC piece · 4 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A• P•••••• C••••• I•••••••• C••• | term loan first lien US C•••••••• D••• | 1st L•••/S••••• S•••••• D••• | T••• L••• | 8.66% (S + 5.00%; 0.75% F•• | $7.8M | $7.8M 100c | SOFR+500 bp |
| A• P•••••• L•••••• F••• | term loan first lien US C•••••••• D••• | 1st L•••/S••••• S•••••• D••• | T••• L••• | 8.66% (S + 5.00%; 0.75% F•• | $3.6M | $3.6M 100c | SOFR+500 bp |
| A• P•••••• C••••• I•••••••• C••• | revolver first lien US C•••••••• D••• | 1st L•••/S••••• S•••••• D••• | R••••••• | 8/11/2031 | $0 | -$7,698 112c | SOFR+500 bp |
| A• P•••••• L•••••• F••• | revolver first lien US C•••••••• D••• | 1st L•••/S••••• S•••••• D••• | R••••••• | 8/11/2031 | $0 | -$3,528 112c | SOFR+500 bp |
Capital structure as the BDCs see it
latest quarter end Mar 31, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Mar 31, 2026 | at least $11.4M | 100c | SOFR+500 bp | Aug 11, 2031 | 2 |
| first lien revolver first lien exited Mar 31, 2026 | at least $0 | n/a | SOFR+500 bp | Aug 11, 2031 | 2 |
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Mar 31, 2026 | 2 | $11.4M | $11.3M | 100c | 0 |
| Dec 31, 2025 | 2 | $19.3M | $19.1M | 100c | 0 |
| Sep 30, 2025 | 2 | $11.5M | $11.3M | 100c | 0 |
What changed
- Facility left every BDC scheduleMar 31, 2026
- Facility left every BDC scheduleMar 31, 2026
- New lender joined a facilityDec 31, 2025
- New borrower on a BDC scheduleSep 30, 2025
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- M••••••• S••••••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived
- Industry
- Software & Tech Servicesreportedas one filer wrote it