DFX Intelligence
The names on this page are hidden. Create a free account to reveal 5 records a month, or get Private Credit Intelligence at $249 a month for every name. Every figure, date and source on this page is public either way.
Borrower
T••••••••• I••
Also written as: First Lien; First Lien - Undrawn; Inc. 1; Inc. 2; Tiger Connect, Inc
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
101¢ · 101¢ · 100¢ · 99¢ · 100¢Q2 2025 to Q2 2026
Where each lender marks it, 1 points apart
99¢100¢
Principal held
at least $114M
sum of BDC pieces, a lower bound
Fair value
$102M
100c on cost, debt pieces
Unfunded
$3.4M
commitments not yet drawn
BDC lenders
9
7 on the latest quarter
Facilities
4
0 equity pieces beside them
Next maturity
Aug 1, 2029
no dated debt inside 24 months
On the tape since
Sep 30, 2022
latest Jun 30, 2026
Events
12
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 |
|---|---|---|---|
| N•• M••••••• F•••••• C••• | $41M | 99¢ | 0 pts |
| N•• M••••••• P•••••• C••••• F••• | $25.3M | 99¢ | +1 pts |
| M••••• C•••••• I••••• P••• C••• | $21.2M | 100¢ | -1 pts |
| M••••• C•••••• E••••••• C•••••••• L•••••• F••• | $14.3M | 100¢ | 0 pts |
| N•• S•• I• I••• | $6.17M | 99¢ | 0 pts |
View all 7 lendersShow fewerlargest exposure first
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| N•• M••••••• G••••••• I• B••• L••••• | $4.5M | 100¢ | +1 pts |
| N•• M••••••• G••••••• I• I••••• F•••• L••••• | $1.06M | 100¢ | +1 pts |
Every BDC piece · 34 positions across 7 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| N•• M••••••• F•••••• C••• | term loan first lien F•••• lien 1 | $29.9M | $29.6M 99c | S+625 bp |
| N•• M••••••• P•••••• C••••• F••• | term loan first lien F•••• L••• 1 | N••••••••• I••••• | $18.4M | $18.2M 99c | S+625 bp |
| M••••• C•••••• I••••• P••• C••• | term loan first lien S••••• S•••••• L•••• | $13.0M | $13.0M 100c | S+640 bp |
| M••••• C•••••• E••••••• C•••••••• L•••••• F••• | term loan first lien S••••• S•••••• L•••• | N••••••••• I••••• | $10.7M | $10.7M 100c | S+640 bp |
| N•• M••••••• F•••••• C••• | term loan first lien F•••• lien - U•••••• | $4.3M | $-42,000 98c | S+625 bp |
View all 34 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| N•• S•• I• I••• | term loan first lien F•••• L••• | N••••••••• I••••• | $4.2M | $4.2M 99c | S+625 bp |
| M••••• C•••••• I••••• P••• C••• | term loan first lien S••••• S•••••• L•••• | $3.9M | $3.9M 101c | S+640 bp |
| N•• M••••••• F•••••• C••• | term loan first lien F•••• lien 2 | $3.7M | $3.7M 99c | S+625 bp |
| N•• M••••••• F•••••• C••• | term loan first lien F•••• lien 3 | $3.1M | $3.0M 100c | S+625 bp |
| N•• M••••••• P•••••• C••••• F••• | term loan first lien F•••• L••• U•••••• | N••••••••• I••••• | $2.6M | $-26,000 289c | S+625 bp |
| N•• M••••••• G••••••• I• B••• L••••• | term loan first lien F•••• lien 1 | $2.3M | $2.3M 100c | S+625 bp |
| N•• M••••••• P•••••• C••••• F••• | term loan first lien F•••• L••• 2 | N••••••••• I••••• | $2.3M | $2.3M 99c | S+625 bp |
| N•• M••••••• G••••••• I• B••• L••••• | term loan first lien F•••• lien 2 | $2.0M | $2.0M 100c | S+625 bp |
| N•• M••••••• P•••••• C••••• F••• | term loan first lien F•••• L••• 3 | N••••••••• I••••• | $1.9M | $1.9M 100c | S+625 bp |
| M••••• C•••••• I••••• P••• C••• | revolver first lien R•••••••) | S••••• S•••••• L•••• | $1.9M | $0 | S+640 bp |
| M••••• C•••••• I••••• P••• C••• | term loan first lien S••••• S•••••• L•••• | $1.6M | $1.6M 100c | S+640 bp |
| M••••• C•••••• E••••••• C•••••••• L•••••• F••• | revolver first lien R•••••••) | S••••• S•••••• L•••• | N••••••••• I••••• | $1.5M | $0 | S+640 bp |
| N•• S•• I• I••• | term loan first lien F•••• L••• | N••••••••• I••••• | $1.4M | $1.4M 100c | S+625 bp |
| M••••• C•••••• E••••••• C•••••••• L•••••• F••• | term loan first lien S••••• S•••••• L•••• | N••••••••• I••••• | $1.3M | $1.3M 100c | S+640 bp |
| M••••• C•••••• I••••• P••• C••• | term loan first lien S••••• S•••••• L•••• | $743,000 | $743,000 100c | S+640 bp |
| M••••• C•••••• E••••••• C•••••••• L•••••• F••• | term loan first lien S••••• S•••••• L•••• | N••••••••• I••••• | $613,000 | $613,000 100c | S+640 bp |
| N•• M••••••• G••••••• I• I••••• F•••• L••••• | term loan first lien F•••• L••• 1 | N••••••••• I••••• | $553,000 | $547,000 100c | S+625 bp |
| N•• S•• I• I••• | term loan first lien F•••• L••• | N••••••••• I••••• | $529,000 | $524,000 99c | S+625 bp |
| N•• M••••••• G••••••• I• I••••• F•••• L••••• | term loan first lien F•••• L••• 2 | N••••••••• I••••• | $482,000 | $477,000 100c | S+625 bp |
| N•• M••••••• G••••••• I• B••• L••••• | term loan first lien F•••• lien 3 | $113,000 | $112,000 99c | S+625 bp |
| M••••• C•••••• I••••• P••• C••• | term loan first lien S••••• S•••••• L•••• | $68,000 | $68,000 100c | S+640 bp |
| M••••• C•••••• E••••••• C•••••••• L•••••• F••• | term loan first lien S••••• S•••••• L•••• | N••••••••• I••••• | $56,000 | $56,000 100c | S+640 bp |
| N•• M••••••• F•••••• C••• | term loan first lien F•••• lien 4 | $42,000 | $41,000 98c | S+625 bp |
| N•• M••••••• G••••••• I• I••••• F•••• L••••• | term loan first lien F•••• L••• 3 | N••••••••• I••••• | $27,000 | $27,000 100c | S+625 bp |
| N•• M••••••• P•••••• C••••• F••• | term loan first lien F•••• L••• 4 | N••••••••• I••••• | $26,000 | $26,000 100c | S+625 bp |
| N•• S•• I• I••• | term loan first lien F•••• L••• | N••••••••• I••••• | $19,000 | $19,000 100c | S+625 bp |
| M••••• C•••••• E••••••• C•••••••• L•••••• F••• | revolver first lien R•••••••) | Not disclosed | Not disclosed | |
| M••••• C•••••• I••••• P••• C••• | revolver first lien R•••••••) | Not disclosed | Not disclosed | |
| N•• S•• I• I••• | term loan first lien F•••• L••• - U•••••• | N••••••••• I••••• | Not disclosed | $6,000 200c | S+625 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 $110M | 100c | S+625 bp | Aug 16, 2029 | 9 |
| first lien revolver first lien | at least $3.4M | n/a | S+640 bp | Aug 16, 2029 | 3 |
| first lien delayed draw term loan first lien exited Sep 30, 2025 | at least $1.7M | 100c | S+690 bp PIK 3.38% | Aug 16, 2029 | 2 |
| revolver lien unstated exited Dec 31, 2025 | unknown | n/a | unstated | 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 | 7 | $114M | $102M | 100c | 0 |
| Mar 31, 2026 | 7 | $109M | $97.3M | 99c | 0 |
| Dec 31, 2025 | 8 | $140M | $127M | 101c | 0 |
| Sep 30, 2025 | 7 | $96.9M | $89.3M | 101c | 21 |
All 16 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 7 | $86.8M | $75.7M | 101c | 14 |
| Mar 31, 2025 | 7 | $86.8M | $75.0M | 101c | 14 |
| Dec 31, 2024 | 7 | $181M | $156M | 101c | 28 |
| Sep 30, 2024 | 5 | $79.8M | $70.0M | 100c | 6 |
| Jun 30, 2024 | 5 | $79.9M | $69.5M | 101c | 6 |
| Mar 31, 2024 | 5 | $79.8M | $68.8M | 101c | 6 |
| Dec 31, 2023 | 6 | $183M | $158M | 100c | 12 |
| Sep 30, 2023 | 5 | $79.8M | $66.6M | 99c | 6 |
| Jun 30, 2023 | 5 | $79.8M | $65.8M | 99c | 6 |
| Mar 31, 2023 | 5 | $79.8M | $66.3M | 100c | 9 |
| Dec 31, 2022 | 5 | $97.2M | $81.6M | 99c | 15 |
| Sep 30, 2022 | 2 | $38.9M | $32.5M | 100c | 1 |
What changed
- Spread changed (observed)Dec 31, 2025
- Spread changed (observed)Dec 31, 2025
- Spread increasedDec 31, 2025
- Spread increasedDec 31, 2025
- Spread increasedDec 31, 2025
Full timeline · 30 eventsShow fewer
- Spread increasedDec 31, 2025
- Spread increasedDec 31, 2025
- Facility left every BDC scheduleDec 31, 2025
- Lender left a facilityDec 31, 2025
- Maturity extended (observed)Sep 30, 2025
- Maturity extended (observed)Sep 30, 2025
- Facility left every BDC scheduleSep 30, 2025
- Maturity extended (observed)Sep 30, 2025
- Maturity extended (observed)Sep 30, 2025
- Maturity extended (observed)Sep 30, 2025
- Maturity extended (observed)Sep 30, 2025
- Maturity extended (observed)Sep 30, 2025
- Maturity extended (observed)Sep 30, 2025
- Maturity extended (observed)Sep 30, 2025
- Maturity extended (observed)Sep 30, 2025
- New lender joined a facilityDec 31, 2024
- PIK interest appearsDec 31, 2024
- New lender joined a facilityDec 31, 2024
- PIK interest appearsDec 31, 2024
- PIK interest appearsDec 31, 2024
- PIK interest appearsDec 31, 2024
- PIK interest appearsDec 31, 2024
- Maturity shortened (observed)Sep 30, 2024
- Maturity extended (observed)Jun 30, 2024
- Maturity extended (observed)Jun 30, 2024
Sponsor
Possible relationship, not established: V•••• E••••• P••••••• M••••••••• L••, because a company of this name is on the sponsor's portfolio page (confidence 0.55). No deal announcement or filing names it as a party, so it is not shown as this borrower’s sponsor.
- V•••• E••••• P••••••• M••••••••• L••
- the sponsor's own portfolio page lists a company of this nameestimatedvistaequitypartners.com"••• Locked"
Identity
- Group key
- TIGERCONNECTderivedthe codename stem after legal suffixes and deal words
- Spellings
- 2 across 9 BDCsderived