DFX Intelligence
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Borrower
S• B•••• C•••
Software & 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¢ · 98¢ · 98¢Q2 2025 to Q2 2026
Principal held
at least $18.6M
sum of BDC pieces, a lower bound
Fair value
$18.0M
98c on cost, debt pieces
Unfunded
$3.9M
commitments not yet drawn
BDC lenders
2
1 on the latest quarter
Facilities
3
0 equity pieces beside them
Next maturity
Apr 16, 2030
no dated debt inside 24 months
On the tape since
Sep 30, 2023
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 |
|---|---|---|---|
| J••• H•••••• C•••••• P•••••• I••••• F••• | $18.6M | 98¢ | 0 pts |
Every BDC piece · 5 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| J••• H•••••• C•••••• P•••••• I••••• F••• | term loan first lien F•••• L••• S••••• S•••••• T••• L••• I••••••• S••••••• & Services S••••• A•••• I•••• S••• + | $17.8M | $17.3M 98c | SOFR+750 bp |
| J••• H•••••• C•••••• P•••••• I••••• F••• | delayed draw term loan first lien F•••• L••• S••••• S•••••• D•••••• D••• T••• L••• I••••••• S••••••• & Services S••••• A•••• | $767,000 | $663,000 89c | SOFR+725 bp |
| J••• H•••••• C•••••• P•••••• I••••• F••• | delayed draw term loan first lien F•••• L••• S••••• S•••••• D•••••• D••• L••• | Not disclosed | Not disclosed | S+725 bp |
| J••• H•••••• C•••••• P•••••• I••••• F••• | revolver first lien F•••• L••• S••••• S•••••• R•••••••• Credit L••• | Not disclosed | Not disclosed | S+725 bp |
| J••• H•••••• C•••••• P•••••• I••••• F••• | revolver first lien F•••• L••• S••••• S•••••• R•••••••• Credit L••• I••••••• S••••••• & Services S••••• A•••• | Not disclosed | -$21,000 300c | SOFR+725 bp |
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 $17.8M | 98c | SOFR+750 bp | Apr 16, 2030 | 1 |
| first lien delayed draw term loan first lien | at least $767,000 | 89c | SOFR+725 bp | Apr 16, 2030 | 1 |
| first lien revolver first lien | unknown | n/a | SOFR+725 bp | Apr 16, 2030 | 1 |
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 | 1 | $18.6M | $18.0M | 98c | 0 |
| Mar 31, 2026 | 1 | $18.4M | $17.7M | 98c | 0 |
| Dec 31, 2025 | 1 | $18.2M | $17.9M | 100c | 0 |
| Sep 30, 2025 | 1 | $18.0M | $17.7M | 100c | 0 |
All 12 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 1 | $17.8M | $17.5M | 100c | 0 |
| Mar 31, 2025 | 1 | $0 | $4.0M | 108c | 0 |
| Dec 31, 2024 | 1 | $0 | $3.7M | 103c | 0 |
| Sep 30, 2024 | 1 | $0 | $7.4M | 103c | 0 |
| Jun 30, 2024 | 1 | $0 | $3.6M | 103c | 0 |
| Mar 31, 2024 | 1 | $0 | $3.5M | 103c | 0 |
| Dec 31, 2023 | 1 | $0 | $6.9M | 103c | 0 |
| Sep 30, 2023 | 1 | $0 | $3.4M | 101c | 0 |
What changed
- Mark recoveredJun 30, 2026
- Marked down across lendersMar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Mark recoveredDec 31, 2025
- Spread changed (observed)Jun 30, 2025
Full timeline · 11 eventsShow fewer
- New lender joined a facilityJun 30, 2025
- Maturity extended (observed)Jun 30, 2025
- Lender left a facilityMar 31, 2025
- Spread increasedMar 31, 2024
- Spread changed (observed)Mar 31, 2024
- New borrower on a BDC scheduleSep 30, 2023
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- S• B••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived
- Industry
- Software & Servicesreportedas one filer wrote it