DFX Intelligence
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Borrower
T• R••••••••• G•••• L••
Hotels, R•••••••••s & Leisuregroup grade Aon a schedule nowsponsor unattributed
What matters now
- 1 of 1 lenderon non-accrual
Non-accrual at 1 of 1 lender on the latest schedules.
Q2 2026 · Interest has stopped accruing; the lenders no longer expect to be paid in full.
FactBDC schedules of investments, 30 Jun 2026For restructuring advisers, special situations funds, the lenders' LPsSee every lender → - 95¢ → 91¢consensus mark
Consensus mark 91¢ on cost, down from 95¢ a year ago, 88¢ last quarter.
Q2 2026 · The lenders' own valuations, the most direct read of what they expect to recover.
Derived1 of 1 lender' own marks, weighted by principal - $11.7Mprincipal outstanding
$11.7M principal held by 1 lender; matures Jul 2028.
Q2 2026 · Refinancing is due in 22 months at a 91¢ mark.
FactBDC schedules of investments, 30 Jun 2026; a sum of the BDCs' pieces, a lower bound
Mark path, consensus per quarter end
95¢ · 95¢ · 86¢ · 88¢ · 91¢Q2 2025 to Q2 2026
Principal held
at least $11.7M
sum of BDC pieces, a lower bound
Fair value
$8.6M
89c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
1
0 equity pieces beside them
Next maturity
Jul 26, 2028
no dated debt inside 24 months
On the tape since
Sep 30, 2023
latest Jun 30, 2026
Events
2
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 |
|---|---|---|---|
| P•••••• S••••• B•• L•• | $11.7M | 91¢ | +3 pts |
Every BDC piece · 2 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| P•••••• S••••• B•• L•• | term loan first lien 1st L•••/S••••• S•••••• D••• I••••••• H•••••, R••••••••• & L•••••• R•••••••• R••• and S••• | $10.4M | $8.8M 91c | SOFR+725 bp |
| P•••••• S••••• B•• L•• | term loan first lien 1st L•••/S••••• S•••••• D••• I••••••• H•••••, R••••••••• & L•••••• R•••••••• R••• and S••• | $1.3M | $-199,000 1421c | SOFR+725 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 $11.7M | 89c | SOFR+725 bp | Jul 26, 2028 | 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 | 1 | $11.7M | $8.6M | 89c | 0 |
| Mar 31, 2026 | 1 | $11.7M | $8.6M | 86c | 0 |
| Dec 31, 2025 | 1 | $11.8M | $8.7M | 84c | 0 |
| Sep 30, 2025 | 1 | $11.8M | $9.7M | 94c | 0 |
All 12 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 1 | $14.8M | $9.5M | 93c | 0 |
| Mar 31, 2025 | 1 | $14.8M | $10.0M | 97c | 0 |
| Dec 31, 2024 | 1 | $14.9M | $10.1M | 98c | 0 |
| Sep 30, 2024 | 1 | $14.9M | $10.2M | 98c | 0 |
| Jun 30, 2024 | 1 | $0 | $10.2M | 99c | 0 |
| Mar 31, 2024 | 1 | $0 | $10.2M | 99c | 0 |
| Dec 31, 2023 | 1 | $15.0M | $10.2M | 99c | 0 |
| Sep 30, 2023 | 1 | $0 | $10.3M | 99c | 0 |
What changed
- Marked down across lendersDec 31, 2025
- Marked down (one lender)Dec 31, 2025
- New borrower on a BDC scheduleSep 30, 2023
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- TM RESTAURANTderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived
- Industry
- Hotels, R•••••••••s & Leisurereportedas one filer wrote it