DFX Intelligence
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Borrower
L•••••••• I••••••••• I•• L••
Transportation: Cargogroup grade Aon a schedule nowsponsor unattributed
Also written as: Gauge Vimergy Coinvest; L•••••••• Finco Limited; L•••••••• Holdings B, LLC; L•••••••• TopCo HoldCo, LP; L•••••••• US Holdings, Inc; VIMERGY
Principal held
at least $32.3M
sum of BDC pieces, a lower bound
Fair value
$97.4M
99c on cost, debt pieces
Unfunded
$1.9M
commitments not yet drawn
BDC lenders
6
5 on the latest quarter
Facilities
6
1 equity pieces beside them
Next maturity
Jun 5, 2028
$32.3M inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
13
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 $17.4M | 99c | S+600 bp | Jun 5, 2028 | 2 |
| term loan lien unstated | at least $15.0M | 100c | SOFR+600 bp | Jun 5, 2028 | 2 |
| revolver lien unstated | at least $0 | n/a | S+600 bp | Jun 5, 2028 | 3 |
| other lien unstated | unknown | 44c | unstated | 2 | |
| first lien delayed draw term loan first lien exited Sep 30, 2025 | at least $3.3M | n/a | SOFR+600 bp | Nov 18, 2029 | 1 |
| first lien revolver first lien exited Sep 30, 2025 | at least $2.2M | n/a | SOFR+600 bp | Nov 18, 2029 | 1 |
Equity pieces beside the debt: equity ($65.1M fair value, 4 BDCs)
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••• C•••••• S•••••••• F••••••• I••• | unstated lien unstated A••••••••• D••• 1/2/2020 | n/a | n/a | |
| B••• C•••••• S•••••••• F••••••• I••• | equity equity Equity I••••••• | $27.1M | $53.0M 194c | |
| C•••••• S•••••••• C••• | revolver lien unstated R•••••••• L•••• | n/a | n/a | S+600 bp |
| C•••••• S•••••••• C••• | unstated lien unstated LLC interest | n/a | $263,000 44c | |
| C•••••• S•••••••• C••• | term loan first lien F•••• L••• | $17.4M | $17.0M 99c | S+600 bp |
| C•••••• S•••••••• C••• | revolver lien unstated R•••••••• L••• | $0 | $0 0c | S+600 bp |
| D••••••• C••••• C• | equity equity Equity S••••• A U•••• A••••••••• D••• 1/30/2026 | n/a | $11.9M 131c | |
| S•••••• C•••••• I••••••••• C••• | equity equity LLC U•••• | n/a | $258,297 66c | |
| S•••••• C•••••• I••••••••• C••• | term loan lien unstated T••• L••• (S•••) | $10.3M | $10.3M 100c | //stelluscapital.com/20260630#Six Month Term Secured Overnight Financing Rate+600 bp |
| S•••••• P•••••• C••••• B•• | term loan lien unstated T••• L••• (P••• SPV) | $1.8M | $1.8M 100c | SOFR+600 bp |
| S•••••• P•••••• C••••• B•• | term loan lien unstated T••• L••• | $2.8M | $2.8M 100c | SOFR+600 bp |
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 | 5 | $32.3M | $32.0M | 99c | 0 |
| Mar 31, 2026 | 5 | $35.1M | $34.4M | 99c | 0 |
| Dec 31, 2025 | 4 | $35.1M | $34.7M | 100c | 0 |
| Sep 30, 2025 | 5 | $56.0M | $49.6M | 100c | 0 |
| Jun 30, 2025 | 5 | $54.0M | $50.1M | 99c | 0 |
| Mar 31, 2025 | 5 | $79.8M | $73.7M | 99c | 0 |
| Dec 31, 2024 | 5 | $93.3M | $82.1M | 100c | 0 |
| Sep 30, 2024 | 4 | $40.6M | $39.7M | 99c | 0 |
| Jun 30, 2024 | 4 | $40.9M | $40.0M | 99c | 0 |
| Mar 31, 2024 | 4 | $41.2M | $39.8M | 98c | 0 |
| Dec 31, 2023 | 4 | $48.4M | $46.9M | 98c | 0 |
| Sep 30, 2023 | 3 | $29.2M | $28.2M | 96c | 0 |
| Jun 30, 2023 | 4 | $42.0M | $41.2M | 98c | 0 |
| Mar 31, 2023 | 4 | $65.0M | $64.5M | 99c | 0 |
| Dec 31, 2022 | 4 | $42.5M | $41.9M | 99c | 0 |
| Sep 30, 2022 | 4 | $43.3M | $29.5M | 100c | 0 |
| Mar 31, 2022 | 1 | $0 | $0 | n/a | 0 |
| Dec 31, 2021 | 1 | $0 | $0 | n/a | 0 |
What changed
- Maturity approachingJun 5, 2028
- Maturity approachingJun 5, 2028
- Spread changed (observed)Sep 30, 2025
- Spread changed (observed)Sep 30, 2025
- Facility left every BDC scheduleSep 30, 2025
- Facility left every BDC scheduleSep 30, 2025
- Spread changed (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
- Spread changed (observed)Mar 31, 2025
- Maturity shortened (observed)Mar 31, 2025
- Maturity extended (observed)Dec 31, 2024
- Spread changed (observed)Dec 31, 2024
- Maturity extended (observed)Dec 31, 2024
- New lender joined a facilityDec 31, 2024
- Maturity extended (observed)Dec 31, 2024
- Maturity extended (observed)Dec 31, 2024
- Maturity shortened (observed)Mar 31, 2024
- Maturity extended (observed)Dec 31, 2023
- Lender left a facilityDec 31, 2023
- Lender left a facilityDec 31, 2023
- Maturity extended (observed)Dec 31, 2023
- Marked down (one lender)Jun 30, 2023
- New lender joined a facilityDec 31, 2022
- New lender joined a facilitySep 30, 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
- LIGHTNINGderivedthe codename stem after legal suffixes and deal words
- Spellings
- 4 across 6 BDCsderived
- Industry
- Transportation: Cargoreportedas one filer wrote it