DFX Intelligence
Private Credit Intelligence
The capital structure graph behind private markets. Who lent, to whom, under which sponsor, through which facility, how large the piece was, when it matures and what changed, with a filing behind every number. A BDC piece is that BDC's piece, a sum of pieces is a lower bound, and a sponsor is named with the evidence that names it.
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Borrower
U••••••• T••••••••• I••
Application Softwaregroup grade Aon a schedule nowsponsor unattributed
Also written as: User Zoom T•••••••••, Inc
Principal held
at least $112M
sum of BDC pieces, a lower bound
Fair value
$105M
94c on cost, debt pieces
Unfunded
n/a
commitments not yet drawn
BDC lenders
10
9 on the latest quarter
Facilities
3
0 equity pieces beside them
Next maturity
Apr 1, 2029
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
4
dated, non-routine
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 $84.1M | 95c | SOFR+775 bp PIK 1.75% | Apr 5, 2029 | 6 |
| other lien unstated | at least $20.6M | 94c | S+775 bp PIK 1.75% | Apr 5, 2029 | 2 |
| term loan lien unstated | at least $7.6M | 87c | S+775 bp PIK 1.75% | Apr 5, 2029 | 2 |
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A••• C•••••• C••• | term loan first lien First lien senior secured loan | $5.9M | $5.0M 86c | S+775 bp PIK 1.75% |
| A••• C•••••• C••• | term loan first lien First lien senior secured loan 1 | $1.7M | $1.5M 88c | S+775 bp PIK 1.75% |
| A••• S•••••••• I••••• F••• | term loan first lien First lien senior secured loan | $697,000 | $592,400 86c | S+775 bp PIK 1.75% |
| F••••••• P•••••• C••••• F••• | term loan first lien First Lien Debt Term Loan Reference Rate and Spread SOFR + 6.25% (1.75% PIK) Interest Rate | $10.1M | $9.7M 98c | SOFR+625 bp PIK 1.75% |
| F••••••• P•••••• C••••• F••• | term loan first lien First Lien Debt Term Loan Reference Rate and Spread SOFR + 6.25% (1.75% PIK) Interest Rate | $808,936 | $777,388 98c | SOFR+625 bp PIK 1.75% |
| H•• C•••••••• L•••••• F••• | unstated lien unstated Non-Affiliated Issuer | $19.0M | $17.8M 94c | S+725 bp PIK 1.25% |
| H•• C•••••••• L•••••• F••• | unstated lien unstated Non-Affiliated Issuer | $1.5M | $1.5M 96c | S+775 bp PIK 1.75% |
| M••• S••••• C•••••• C••• | term loan lien unstated Secured Debt 2 | $4.0M | $3.4M 87c | S+775 bp PIK 1.75% |
| M••• S••••• C•••••• C••• | term loan lien unstated Secured Debt 1 | $325,000 | $277,000 87c | S+775 bp PIK 1.75% |
| M••••• S•••••• D••••• L•••••• F••• | term loan first lien Investment First Lien Debt Reference Rate and Spread S + 7.00% (incl. 1.25% PIK) Interest | $42.0M | $40.0M 96c | SOFR+725 bp PIK 1.25% |
| M•• I••••• F•••• I••• | term loan lien unstated Secured Debt 2 | $3.0M | $2.6M 87c | S+775 bp PIK 1.75% |
| M•• I••••• F•••• I••• | term loan lien unstated Secured Debt 1 | $244,000 | $208,000 87c | S+775 bp PIK 1.75% |
| S••••• P•••• S•••••••• L•••••• F••• | term loan first lien 1st Lien/Secured Loans 1st Lien Term Loan Industry T••••••••• Rate S+7.70%, 1.00% Floor (1 | $12.2M | $11.0M 92c | SOFR+775 bp PIK 1.75% |
| W••••••••• F••••••• I••• | term loan first lien First Lien Secured Term Loan | $10.7M | $10.4M 99c | SOFR+775 bp PIK 1.75% |
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 | 9 | $112M | $105M | 94c | 14 |
| Mar 31, 2026 | 9 | $91.4M | $88.5M | 98c | 9 |
| Dec 31, 2025 | 9 | $103M | $102M | 100c | 2 |
| Sep 30, 2025 | 9 | $102M | $102M | 101c | 0 |
| Jun 30, 2025 | 9 | $102M | $102M | 101c | 0 |
| Mar 31, 2025 | 9 | $102M | $102M | 101c | 0 |
| Dec 31, 2024 | 9 | $188M | $187M | 102c | 0 |
| Sep 30, 2024 | 9 | $102M | $102M | 102c | 0 |
| Jun 30, 2024 | 9 | $99.1M | $102M | 102c | 0 |
| Mar 31, 2024 | 9 | $102M | $101M | 101c | 0 |
| Dec 31, 2023 | 9 | $102M | $101M | 101c | 0 |
| Sep 30, 2023 | 8 | $90.9M | $89.9M | 101c | 0 |
| Jun 30, 2023 | 8 | $90.9M | $88.6M | 100c | 0 |
| Mar 31, 2023 | 8 | $90.9M | $89.0M | 100c | 0 |
| Dec 31, 2022 | 3 | $57.6M | $56.0M | 99c | 0 |
| Dec 31, 2021 | 1 | $0 | $0 | n/a | 0 |
What changed
- Marked down across lendersJun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- PIK interest increasedJun 30, 2026
- PIK interest appearsJun 30, 2026
- PIK interest increasedJun 30, 2026
- PIK interest appearsMar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- PIK interest appearsMar 31, 2026
- PIK interest appearsMar 31, 2026
- PIK interest appearsMar 31, 2026
- PIK interest appearsMar 31, 2026
- PIK interest appearsMar 31, 2026
- PIK interest appearsMar 31, 2026
- PIK interest appearsMar 31, 2026
- PIK interest appearsDec 31, 2025
- PIK interest appearsDec 31, 2025
- New lender joined a facilityDec 31, 2023
- Spread changed (observed)Mar 31, 2023
- New lender joined a facilityMar 31, 2023
- New lender joined a facilityMar 31, 2023
- New lender joined a facilityMar 31, 2023
- Spread increasedMar 31, 2023
- Spread increasedMar 31, 2023
- Lender left a facilityDec 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
- USERZOOM TECHNOLOGIESderivedthe codename stem after legal suffixes and deal words
- Spellings
- 2 across 10 BDCsderived
- Industry
- Application Softwarereportedas one filer wrote it