DFX Intelligence
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Borrower
I••••••••• C••••• • E•••••••• G••••••• I••
Hotels, Restaurants & Leisuregroup grade Aon a schedule nowsponsor unattributed
Also written as: Inc. Arrivia, Inc
What matters now
- 59¢ → 59¢consensus mark
Consensus mark 59¢ on cost, up from 59¢ a year ago, 59¢ last quarter.
Q2 2026 · The lenders' own valuations moved back up.
Derived2 of 2 lenders' own marks, weighted by principal - $5.37Mprincipal outstanding
$5.37M principal held by 2 lenders; matures Dec 2028.
Q2 2026 · Refinancing is due in 27 months at a 59¢ mark.
FactBDC schedules of investments, 30 Jun 2026; a sum of the BDCs' pieces, a lower bound
Mark path, consensus per quarter end
59¢ · 59¢ · 67¢ · 59¢ · 59¢Q2 2025 to Q2 2026
Principal held
at least $5.4M
sum of BDC pieces, a lower bound
Fair value
$8.2M
53c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
2
1 equity pieces beside them
Next maturity
Dec 29, 2028
no dated debt inside 24 months
On the tape since
Mar 31, 2022
latest Jun 30, 2026
Events
5
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 |
|---|---|---|---|
| M••••• F•••••••• I••••••••• C••• | $4.01M | 45¢ | 0 pts |
| F••••••• B•• C•••••• C••• | $1.36M | 100¢ | 0 pts |
Every BDC piece · 4 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| M••••• F•••••••• I••••••••• C••• | term loan first lien F•••• L••• S•••••• D••• - T••• L•••, S•••+600, 1.00% F••••, M••••••• D••• 12/29/28 | $4.0M | $4.0M 45c | SOFR+600 bp |
| F••••••• B•• C•••••• C••• | unstated lien unstated | $1.4M | $1.4M 100c | S+600 bp |
| F••••••• B•• C•••••• C••• | unstated lien unstated | Not disclosed | $0 | |
| M••••• F•••••••• I••••••••• C••• | equity equity C••••• Equity - M••••••••• I•••••••• | Not disclosed | $2.8M 60c |
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 $4.0M | 45c | SOFR+600 bp | Dec 29, 2028 | 1 |
| other lien unstated | at least $1.4M | 100c | S+600 bp | Dec 29, 2028 | 1 |
Equity pieces beside the debt: equity ($2.8M fair value, 1 BDC)
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 | $5.4M | $5.3M | 53c | 0 |
| Mar 31, 2026 | 2 | $5.4M | $5.3M | 53c | 0 |
| Dec 31, 2025 | 2 | $6.7M | $6.7M | 58c | 0 |
| Sep 30, 2025 | 2 | $5.4M | $5.3M | 53c | 0 |
All 15 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 2 | $5.4M | $5.3M | 53c | 0 |
| Mar 31, 2025 | 2 | $5.5M | $5.4M | 53c | 0 |
| Dec 31, 2024 | 1 | $4.3M | $4.3M | 100c | 0 |
| Sep 30, 2024 | 1 | $14.1M | $8.4M | 60c | 0 |
| Jun 30, 2024 | 1 | $14.1M | $10.8M | 77c | 0 |
| Mar 31, 2024 | 1 | $14.1M | $11.4M | 81c | 0 |
| Dec 31, 2023 | 1 | $14.2M | $13.9M | 99c | 0 |
| Sep 30, 2023 | 1 | $14.2M | $13.9M | 99c | 0 |
| Jun 30, 2023 | 1 | $14.3M | $13.9M | 98c | 0 |
| Mar 31, 2023 | 1 | $14.3M | $13.8M | n/a | 0 |
| Dec 31, 2022 | 1 | $28.6M | $27.4M | 193c | 0 |
What changed
- Maturity extended (observed)Mar 31, 2025
- Lender left a facilityMar 31, 2025
- Marked down across lendersSep 30, 2024
- Placed on non-accrualSep 30, 2024
- Marked down (one lender)Sep 30, 2024
Full timeline · 8 eventsShow fewer
- Marked down across lendersMar 31, 2024
- Marked down (one lender)Mar 31, 2024
- New borrower on a BDC scheduleMar 31, 2022
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- CRUISE AND EXCURSION GALLERYderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived
- Industry
- Hotels, Restaurants & Leisurereportedas one filer wrote it