DFX Intelligence
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Borrower
W•• T••••••• H••••••• L••
Energy Equipment & Servicesgroup grade Aon a schedule nowsponsor unattributed
What matters now
- 73¢ → 78¢consensus mark
Consensus mark 78¢ on cost, up from 73¢ a year ago, 67¢ last quarter.
Q2 2026 · The lenders' own valuations moved back up.
Derived1 of 1 lender' own marks, weighted by principal - $44.8Mprincipal outstanding
$44.8M principal held by 1 lender; matures Apr 2028.
Q2 2026 · Refinancing is due in 19 months at a 78¢ mark.
FactBDC schedules of investments, 30 Jun 2026; a sum of the BDCs' pieces, a lower bound - 67¢ → 78¢+11 pts, one lender
T•• D••••• L•••••• V•• L•• marked it 67¢ → 78¢, the largest move among 1 lender this quarter.
Q2 2026 · One holder repriced far more than the rest.
Mark path, consensus per quarter end
73¢ · 69¢ · 74¢ · 67¢ · 78¢Q2 2025 to Q2 2026
Principal held
at least $44.8M
sum of BDC pieces, a lower bound
Fair value
$36.2M
81c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
2
1 equity pieces beside them
Next maturity
Apr 30, 2028
$44.8M inside 24 months
On the tape since
Dec 31, 2022
latest Jun 30, 2026
Events
43
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 |
|---|---|---|---|
| T•• D••••• L•••••• V•• L•• | $44.8M | 78¢ | +11 pts |
Every BDC piece · 7 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| T•• D••••• L•••••• V•• L•• | term loan lien unstated A••••••••• D••• 10/22/19, T••• L••• – 9.76% inc PIK (S••• + 6.00%, 0.00% F••••, all PIK), | $28.8M | $22.4M 78c | SOFR+600 bp |
| T•• D••••• L•••••• V•• L•• | revolver lien unstated A••••••••• D••• 10/22/19 R••••••• – 9.76% inc PIK (S••• + 6.00%, 0.00% F••••, all PIK) % o | $12.9M | $10.0M 78c | SOFR+600 bp |
| T•• D••••• L•••••• V•• L•• | term loan lien unstated A••••••••• D••• 08/13/24 , P••••••••• A•••••• T••• L••• – 12.25% inc PIK (P•••• + 5.50%, 0 | $3.1M | $3.8M 124c | Prime+550 bp |
| T•• D••••• L•••••• V•• L•• | equity equity C•••• A U•••• | Not disclosed | $0 | |
| T•• D••••• L•••••• V•• L•• | revolver lien unstated R••••••• - 9.76% inc PIK | Not disclosed | Not disclosed | S+600 bp |
View all 7 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| T•• D••••• L•••••• V•• L•• | term loan lien unstated T••• L••• - 9.76% inc PIK | Not disclosed | Not disclosed | |
| T•• D••••• L•••••• V•• L•• | equity equity C•••• A U•••• | Not disclosed | Not disclosed |
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
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 | $44.8M | $36.2M | 81c | 0 |
| Mar 31, 2026 | 1 | $44.8M | $31.6M | 71c | 0 |
| Dec 31, 2025 | 1 | $44.8M | $34.2M | 76c | 0 |
| Sep 30, 2025 | 1 | $45.7M | $31.7M | 69c | 1 |
All 15 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 1 | $42.9M | $31.1M | 73c | 1 |
| Mar 31, 2025 | 1 | $40.6M | $32.8M | 81c | 1 |
| Dec 31, 2024 | 1 | $38.3M | $68.6M | 179c | 0 |
| Sep 30, 2024 | 1 | $35.8M | $70.3M | 196c | 0 |
| Jun 30, 2024 | 1 | $32.7M | $32.3M | 99c | 2 |
| Mar 31, 2024 | 1 | $31.9M | $31.5M | 99c | 2 |
| Dec 31, 2023 | 1 | $32.2M | $94.4M | 294c | 2 |
| Sep 30, 2023 | 1 | $32.6M | $31.7M | 98c | 2 |
| Jun 30, 2023 | 1 | $32.9M | $31.7M | 97c | 2 |
| Mar 31, 2023 | 1 | $33.1M | $31.6M | 96c | 2 |
| Dec 31, 2022 | 1 | $32.6M | $30.8M | 95c | 2 |
What changed
- Maturity approachingApr 30, 2028
- Maturity approachingApr 30, 2028
- Spread changed (observed)Jun 30, 2026
- Mark recoveredJun 30, 2026
- Spread changed (observed)Jun 30, 2026
Full timeline · 30 eventsShow fewer
- Mark recoveredJun 30, 2026
- Spread changed (observed)Mar 31, 2026
- Marked down across lendersMar 31, 2026
- Marked down across lendersMar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Mark recoveredDec 31, 2025
- Mark recoveredDec 31, 2025
- Spread changed (observed)Sep 30, 2025
- Marked down across lendersJun 30, 2025
- Spread changed (observed)Jun 30, 2025
- Marked down across lendersJun 30, 2025
- Marked down (one lender)Jun 30, 2025
- Marked down (one lender)Jun 30, 2025
- Marked down across lendersMar 31, 2025
- PIK interest appearsMar 31, 2025
- Spread changed (observed)Mar 31, 2025
- Spread changed (observed)Mar 31, 2025
- Marked down across lendersMar 31, 2025
- Marked down (one lender)Mar 31, 2025
- Marked down (one lender)Mar 31, 2025
- PIK interest appearsMar 31, 2025
- Spread increasedMar 31, 2025
- Spread increasedMar 31, 2025
- Maturity extended (observed)Dec 31, 2024
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- WDE TORCSILLderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived
- Industry
- Energy Equipment & Servicesreportedas one filer wrote it