DFX Intelligence
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Borrower
S•••• B•••••••• I•••• L••
Professional Servicesgroup grade Aon a schedule nowsponsor unattributed
Also written as: 02; 2019; 2021; 22; 23; 27; LLC - Funded; LLC - Unfunded
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
100¢ · 100¢ · 100¢ · 100¢ · 100¢Q1 2025 to Q1 2026
Where each lender marks it, 0 points apart
100¢100¢
Principal held
at least $32.3M
sum of BDC pieces, a lower bound
Fair value
$31.7M
100c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
3
3 on the latest quarter
Facilities
5
1 equity pieces beside them
Next maturity
Jul 7, 2026
$32.3M inside 24 months
On the tape since
Dec 31, 2021
latest Mar 31, 2026
Events
10
dated, non-routine
Lender marks
each lender's own fair value over cost at Mar 31, 2026, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| P••••••••• F••••••• R••• C•••••• L••• | $12.7M | 100¢ | 0 pts |
| S•••••• C•••••• I••••••••• C••• | $12.4M | 100¢ | 0 pts |
| P••••••••• I••••••••• C••• | $7.19M | 100¢ | 0 pts |
Every BDC piece · 10 positions across 3 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| S•••••• C•••••• I••••••••• C••• | term loan lien unstated T••• L••• | $12.0M | $12.0M 100c | //stelluscapital.com/20260331#Three Month Term Secured Overnight Financing Rate+600 bp |
| P••••••••• F••••••• R••• C•••••• L••• | term loan first lien F•••• L••• S•••••• D••• A••••••••• 01/27/2021 M••••••• 07/07/2026 I••••••• P••••••••• Serv | $9.1M | $9.1M 100c | SOFR+620 bp |
| P••••••••• I••••••••• C••• | term loan first lien F•••• L••• S•••••• D••• A••••••••• 03/02/22 M••••••• 07/07/26 I••••••• B••••••• Services C | $6.6M | $6.6M 100c | SOFR+620 bp |
| P••••••••• F••••••• R••• C•••••• L••• | term loan first lien F•••• L••• S•••••• D••• A••••••••• 12/23/2019 M••••••• 07/07/2026 I••••••• P••••••••• Serv | $2.5M | $2.5M 100c | SOFR+620 bp |
| P••••••••• F••••••• R••• C•••••• L••• | revolver first lien F•••• L••• S•••••• D••• R••••••• A••••••••• 12/23/2019 M••••••• 07/07/2026 I••••••• P••••• | $646,000 | $0 | S+620 bp |
View all 10 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| S•••••• C•••••• I••••••••• C••• | revolver lien unstated R••••••• | $443,820 | $443,820 100c | //stelluscapital.com/20260331#Three Month Term Secured Overnight Financing Rate+600 bp |
| P••••••••• F••••••• R••• C•••••• L••• | revolver first lien F•••• L••• S•••••• D••• R••••••• A••••••••• 12/23/2019 M••••••• 07/07/2026 I••••••• P••••• | $431,000 | $431,000 100c | SOFR+620 bp |
| P••••••••• I••••••••• C••• | revolver first lien F•••• L••• S•••••• D••• R••••••• A••••••••• 5/29/2020 M••••••• 7/7/2026 I••••••• B••••••• | $366,000 | $0 | S+620 bp |
| P••••••••• I••••••••• C••• | revolver first lien F•••• L••• S•••••• D••• R••••••• A••••••••• 5/29/2020 M••••••• 7/7/2026 I••••••• B••••••• | $244,000 | $244,000 100c | SOFR+620 bp |
| S•••••• C•••••• I••••••••• C••• | equity equity C•••• A U•••• | $66,573 | $411,089 62c |
Capital structure as the BDCs see it
latest quarter end Mar 31, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Mar 31, 2026 | at least $18.2M | 100c | SOFR+620 bp | Jul 7, 2026 | 2 |
| term loan lien unstated exited Mar 31, 2026 | at least $12.0M | 100c | //stelluscapital.com/20260331#Three Month Term Secured Overnight Financing Rate+600 bp | Jul 7, 2026 | 1 |
| other lien unstated exited Mar 31, 2024 | at least $6.7M | 100c | S+620 bp | Jan 3, 2025 | 1 |
| first lien revolver first lien exited Mar 31, 2026 | at least $1.7M | 100c | SOFR+620 bp | Jul 7, 2026 | 2 |
| revolver lien unstated exited Mar 31, 2026 | at least $443,820 | 100c | //stelluscapital.com/20260331#Three Month Term Secured Overnight Financing Rate+600 bp | Jul 7, 2026 | 1 |
Equity pieces beside the debt: equity ($411,089 fair value, 1 BDC)
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, 2026 | 3 | $32.3M | $31.3M | 100c | 0 |
| Dec 31, 2025 | 3 | $44.8M | $43.8M | 100c | 0 |
| Sep 30, 2025 | 3 | $46.3M | $44.0M | 100c | 0 |
| Jun 30, 2025 | 3 | $32.9M | $32.4M | 100c | 0 |
All 17 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Mar 31, 2025 | 3 | $32.7M | $31.6M | 100c | 0 |
| Dec 31, 2024 | 3 | $20.2M | $30.6M | 100c | 0 |
| Sep 30, 2024 | 3 | $71.6M | $67.6M | 100c | 0 |
| Jun 30, 2024 | 3 | $32.6M | $30.6M | 100c | 0 |
| Mar 31, 2024 | 3 | $32.6M | $30.6M | 100c | 0 |
| Dec 31, 2023 | 3 | $30.1M | $27.9M | 100c | 0 |
| Dec 15, 2023 | 1 | $0 | $0 | n/a | 0 |
| Sep 30, 2023 | 2 | $25.6M | $21.4M | 100c | 0 |
| Jun 30, 2023 | 3 | $33.5M | $31.3M | 100c | 0 |
| Mar 31, 2023 | 3 | $33.5M | $31.2M | 100c | 0 |
| Dec 31, 2022 | 1 | $12.5M | $12.2M | 98c | 0 |
| Sep 30, 2022 | 3 | $46.9M | $30.8M | 100c | 0 |
| Dec 31, 2021 | 1 | $13.2M | $13.1M | 100c | 0 |
What changed
- Facility left every BDC scheduleMar 31, 2026
- Facility left every BDC scheduleMar 31, 2026
- Facility left every BDC scheduleMar 31, 2026
- Facility left every BDC scheduleMar 31, 2026
- Spread changed (observed)Dec 31, 2025
Full timeline · 17 eventsShow fewer
- Spread increasedDec 31, 2025
- Spread increasedDec 31, 2025
- Maturity extended (observed)Mar 31, 2025
- Maturity extended (observed)Dec 31, 2024
- Maturity extended (observed)Dec 31, 2024
- Maturity extended (observed)Dec 31, 2024
- Maturity extended (observed)Dec 31, 2024
- Maturity extended (observed)Dec 31, 2024
- Spread changed (observed)Mar 31, 2024
- Facility left every BDC scheduleMar 31, 2024
- Spread increasedMar 31, 2024
- Spread changed (observed)Dec 31, 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
- S•••• B•••••••• I••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 3 BDCsderived
- Industry
- Professional Servicesreportedas one filer wrote it