DFX Intelligence
The names on this page are hidden. Create a free account to reveal 5 records a month, or get Private Credit Intelligence at $249 a month for every name. Every figure, date and source on this page is public either way.
Borrower
I••••••• a•• C•••••• R••••• S••••••• L••
group grade Aon a schedule nowsponsor unattributed
Also written as: LLC Sr Secured
What matters now
- 101¢ → 95¢consensus mark
Consensus mark 95¢ on cost, down from 101¢ a year ago, 95¢ last quarter.
Q2 2026 · The lenders' own valuations, the most direct read of what they expect to recover.
Derived3 of 3 lenders' own marks, weighted by principal - 22 pts76¢ to 98¢
Lenders disagree by 22 points: B•••••••• P•••••• C••••• F••• 76¢ to B•••••••• T•• C•••••• C•••• 98¢.
Q2 2026 · Holders value the same loan differently, so a position could trade between them.
Derivedeach lender's own fair value over costFor secondary buyers, special situations fundsLender marks → - 88¢ → 76¢-12 pts, one lender
B•••••••• P•••••• C••••• F••• marked it 88¢ → 76¢, the largest move among 3 lenders this quarter.
Q2 2026 · One holder repriced far more than the rest.
Mark path, consensus per quarter end
101¢ · 100¢ · 100¢ · 95¢ · 95¢Q2 2025 to Q2 2026
Where each lender marks it, 22 points apart
76¢98¢
Principal held
at least $6.1M
sum of BDC pieces, a lower bound
Fair value
$5.6M
95c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
4
3 on the latest quarter
Facilities
4
0 equity pieces beside them
Next maturity
Sep 2, 2032
no dated debt inside 24 months
On the tape since
Dec 31, 2022
latest Jun 30, 2026
Events
6
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 |
|---|---|---|---|
| B•••••••• D••••• L•••••• C•••• | $2.7M | 96¢ | -1 pts |
| B•••••••• T•• C•••••• C•••• | $2.69M | 98¢ | +1 pts |
| B•••••••• P•••••• C••••• F••• | $673K | 76¢ | -12 pts |
Every BDC piece · 5 positions across 3 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B•••••••• D••••• L•••••• C•••• | term loan first lien I••••••••• F•••• L••• T••• L••• Ref S•••(Q) F•••• 0.75% S••••• 5.00% T•••• C••••• 8.67% M• | $2.6M | $2.5M 96c | SOFR+500 bp |
| B•••••••• T•• C•••••• C•••• | term loan first lien F•••• L••• T••• L••• Ref S•••(Q) F•••• 0.75% S••••• 5.00% T•••• C••••• 8.67% M••••••• 9/2/ | $2.6M | $2.5M 98c | SOFR+500 bp |
| B•••••••• P•••••• C••••• F••• | revolver first lien I••••••••• F•••• L••• R••••••• Ref S•••(Q) F•••• 0.75% S••••• 5.00% T•••• C••••• 8.67% M•• | $673,205 | $483,866 76c | SOFR+500 bp |
| B•••••••• D••••• L•••••• C•••• | revolver lien unstated I••••••••• Sr S•••••• R••••••• Ref S•••(Q) F•••• 0.75% S••••• 5.00% T•••• C••••• 8.67% M•• | $57,082 | $41,028 76c | SOFR+500 bp |
| B•••••••• T•• C•••••• C•••• | revolver lien unstated R••••••• Ref S•••(Q) F•••• 0.75% S••••• 5.00% T•••• C••••• 8.67% M••••••• 9/2/2032 | $56,872 | $40,877 87c | SOFR+500 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 $5.3M | 97c | SOFR+500 bp | Sep 2, 2032 | 3 |
| first lien revolver first lien | at least $673,205 | 76c | SOFR+500 bp | Sep 2, 2032 | 1 |
| revolver lien unstated | at least $113,954 | 81c | SOFR+500 bp | Sep 2, 2032 | 2 |
| second lien term loan second lien exited Jun 30, 2025 | at least $16.8M | 102c | SOFR+826 bp | Dec 14, 2028 | 2 |
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 | 3 | $6.1M | $5.6M | 95c | 0 |
| Mar 31, 2026 | 3 | $6.5M | $6.1M | 95c | 0 |
| Dec 31, 2025 | 3 | $36.6M | $36.1M | 100c | 0 |
| Sep 30, 2025 | 3 | $50.4M | $49.5M | 100c | 0 |
All 15 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 2 | $28.2M | $28.1M | 101c | 0 |
| Mar 31, 2025 | 2 | $28.2M | $27.9M | 101c | 0 |
| Dec 31, 2024 | 2 | $23.0M | $22.8M | 101c | 0 |
| Sep 30, 2024 | 2 | $18.1M | $17.3M | 99c | 0 |
| Jun 30, 2024 | 2 | $18.1M | $17.2M | 99c | 0 |
| Mar 31, 2024 | 2 | $18.1M | $17.2M | 99c | 0 |
| Dec 31, 2023 | 2 | $14.7M | $13.6M | 94c | 0 |
| Sep 30, 2023 | 2 | $13.4M | $11.9M | 90c | 0 |
| Jun 30, 2023 | 2 | $13.4M | $11.5M | 87c | 0 |
| Mar 31, 2023 | 3 | $18.1M | $14.7M | 82c | 0 |
| Dec 31, 2022 | 3 | $18.1M | $14.4M | 81c | 0 |
What changed
- Marked down across lendersJun 30, 2026
- Marked down across lendersJun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Lender left a facilityDec 31, 2025
Full timeline · 12 eventsShow fewer
- Maturity extended (observed)Sep 30, 2025
- New lender joined a facilitySep 30, 2025
- New lender joined a facilitySep 30, 2025
- Maturity extended (observed)Sep 30, 2025
- Facility left every BDC scheduleJun 30, 2025
- Mark recoveredMar 31, 2024
- New borrower on a BDC scheduleDec 31, 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
- I••••••• A•• C•••••• R••••• S••••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 4 BDCsderived