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
L••••• N••••••• L•• • D•• F••••••• • B•••••••
Telecommunication Servicesgroup grade Aon a schedule nowsponsor unattributed
Principal held
at least $246,000
sum of BDC pieces, a lower bound
Fair value
$48,000
20c on cost, debt pieces
Unfunded
n/a
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
1
0 equity pieces beside them
Next maturity
Dec 31, 2027
$246,000 inside 24 months
On the tape since
Dec 31, 2025
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 $246,000 | 20c | PIK 17.50% | Dec 31, 2027 | 1 |
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| M•• I••••••••• C•••• | term loan first lien First Lien Debt Reference Rate and Spread N/A Interest Rate Floor N/A Interest Rate 17.50% | $246,000 | $48,000 20c | PIK 17.50% |
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 | $246,000 | $48,000 | 20c | 1 |
| Mar 31, 2026 | 1 | $318,000 | $93,000 | 29c | 1 |
| Dec 31, 2025 | 1 | $401,000 | $-14,000 | -3c | 1 |
What changed
- Maturity approachingDec 31, 2027
- Marked down across lendersJun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Maturity extended (observed)Mar 31, 2026
- Maturity extended (observed)Mar 31, 2026
- New borrower on a BDC scheduleDec 31, 2025
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- LIGADO NETWORKS DIP FACILITY BACKSTOPderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived
- Industry
- Telecommunication Servicesreportedas one filer wrote it