DFX Intelligence
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Borrower
T•••••• c•••••••• • d••••••••• I••••• A••••••••• L••
Distributorsgroup grade Aoff every schedule since Dec 31, 2025sponsor unattributed
Nothing material in the last 200 days. Last change: 31 Dec 2025, $10.4M principal held by 2 lenders; matures Jul 2027.
Mark path, consensus per quarter end
101¢ · 101¢ · 101¢ · 101¢Q4 2024 to Q4 2025
Where each lender marks it on the first lien term loan, 0 points apart
101¢101¢
Principal held
at least $10.4M
sum of BDC pieces, a lower bound
Fair value
$10.4M
101c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
3
0 equity pieces beside them
Next maturity
Jul 30, 2027
$10.4M inside 24 months
On the tape since
Dec 31, 2024
latest Dec 31, 2025
Events
3
dated, non-routine
Lender marks
each lender's own fair value over cost at Dec 31, 2025, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| K•••• A••••••• B••• I••• | $6.86M | 101¢ | 0 pts |
| K•••• D• 2•••• I••• | $3.53M | 101¢ | 0 pts |
Every BDC piece · 5 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| K•••• A••••••• B••• I••• | term loan first lien F•••• lien senior secured loan - S•••(M) - T•••• | $4.4M | $4.4M 101c | S+575 bp |
| K•••• D• 2•••• I••• | term loan first lien F•••• lien senior secured loan-S•••(M) | $2.9M | $2.9M 101c | S+575 bp |
| K•••• A••••••• B••• I••• | delayed draw term loan first lien F•••• lien senior secured delayed draw loan - S•••(M) | $2.4M | $2.4M 101c | S+575 bp |
| K•••• D• 2•••• I••• | term loan first lien F•••• lien senior secured loan-S•••(M)-One | $650,000 | $650,000 103c | S+575 bp |
| K•••• A••••••• B••• I••• | revolver first lien F•••• lien senior secured revolving loan - S•••(M) | Not disclosed | Not disclosed | S+575 bp |
Capital structure as the BDCs see it
latest quarter end Dec 31, 2025
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Dec 31, 2025 | at least $8.0M | 101c | S+575 bp | Jul 30, 2027 | 2 |
| first lien delayed draw term loan first lien exited Dec 31, 2025 | at least $2.4M | 101c | S+575 bp | Jul 30, 2027 | 1 |
| first lien revolver first lien exited Dec 31, 2025 | unknown | n/a | S+575 bp | Jul 30, 2027 | 1 |
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Dec 31, 2025 | 2 | $10.4M | $10.4M | 101c | 0 |
| Sep 30, 2025 | 2 | $24.8M | $24.8M | 101c | 0 |
| Jun 30, 2025 | 2 | $24.9M | $24.9M | 101c | 0 |
| Dec 31, 2024 | 1 | $3.6M | $3.6M | 101c | 0 |
What changed
- Facility left every BDC scheduleDec 31, 2025
- Facility left every BDC scheduleDec 31, 2025
- Facility left every BDC scheduleDec 31, 2025
- New lender joined a facilityJun 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
- TRADING COMPANIES AND DISTRIBUTORS I D IMAGESderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived
- Industry
- Distributorsreportedas one filer wrote it