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
P••••••••• I••••••••• P••••••• I••
Textiles, Apparel & Luxury Goodsgroup grade Aoff every schedule since Mar 31, 2025sponsor O•••••• I••••••••• P•••••••• L•• carried
Principal held
at least $5.0M
sum of BDC pieces, a lower bound
Fair value
$43.1M
97c on cost, debt pieces
Unfunded
n/a
commitments not yet drawn
BDC lenders
7
2 on the latest quarter
Facilities
3
1 equity pieces beside them
Next maturity
Dec 29, 2027
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Mar 31, 2025
Events
4
dated, non-routine
Capital structure as the BDCs see it
latest quarter end Mar 31, 2025
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| second lien term loan second lien exited Mar 31, 2024 | at least $34.2M | 101c | S+836 bp | Dec 30, 2028 | 1 |
| first lien term loan first lien exited Mar 31, 2025 | at least $5.0M | 97c | SOFR+400 bp | Dec 29, 2027 | 1 |
| other lien unstated exited Jul 31, 2024 | at least $924,000 | 100c | S+400 bp | unstated | 5 |
Equity pieces beside the debt: preferred equity ($38.4M fair value, 1 BDC)
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| F•••• E•••• P•••••• C••••• F••• | term loan first lien F•••• Lien Debt Reference Rate and Spread S + 4.00%, Interest Rate Floor 0.75%, Interest R | $5.0M | $4.8M 97c | SOFR+400 bp |
| M•• I••••••••• C•••• | preferred equity equity Preferred Equity Series A Preferred Interest Rate 13.00% PIK | $38,000 | $38.4M 100c | PIK 13.00% |
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Mar 31, 2025 | 2 | $5.0M | $4.8M | 97c | 0 |
| Dec 31, 2024 | 2 | $9.9M | $10.0M | 100c | 0 |
| Sep 30, 2024 | 1 | $5.0M | $5.0M | 100c | 0 |
| Jul 31, 2024 | 1 | $924,000 | $922,000 | 100c | 0 |
| Jun 30, 2024 | 5 | $25.3M | $25.2M | 100c | 0 |
| Mar 31, 2024 | 4 | $54.7M | $54.1M | 101c | 0 |
| Dec 31, 2023 | 4 | $49.3M | $48.4M | 100c | 0 |
| Sep 30, 2023 | 4 | $49.4M | $47.8M | 99c | 0 |
| Jun 30, 2023 | 4 | $49.4M | $47.7M | 99c | 0 |
| Mar 31, 2023 | 2 | $43.2M | $40.5M | 96c | 0 |
| Dec 31, 2022 | 2 | $52.3M | $49.2M | 96c | 0 |
| Dec 31, 2021 | 1 | $9.1M | $9.1M | 100c | 0 |
What changed
- Facility left every BDC scheduleMar 31, 2025
- Facility left every BDC scheduleJul 31, 2024
- Lender left a facilityJun 30, 2024
- Lender left a facilityJun 30, 2024
- Lender left a facilityJun 30, 2024
- Facility left every BDC scheduleMar 31, 2024
- New lender joined a facilityDec 31, 2023
- New lender joined a facilityJun 30, 2023
- New lender joined a facilityJun 30, 2023
- New borrower on a BDC scheduleDec 31, 2021
Sponsor
- O•••••• I••••••••• P•••••••• L••
- the sponsor's own portfolio page lists a company of this nameestimatedodysseyinvestment.com"PIP is a portfolio company of O•••••• I••••••••• P•••••••• L••."
Identity
- Group key
- PROTECTIVE INDUSTRIAL PRODUCTSderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 7 BDCsderived
- Industry
- Textiles, Apparel & Luxury Goodsreportedas one filer wrote it