DFX Intelligence
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Borrower
M•••••• H•••••• A•
group grade Aon a schedule nowsponsor unattributed
Also written as: Bridge
Principal held
at least $7.9M
sum of BDC pieces, a lower bound
Fair value
$7.7M
94c on cost, debt pieces
Unfunded
$2.0M
commitments not yet drawn
BDC lenders
3
3 on the latest quarter
Facilities
2
2 equity pieces beside them
Next maturity
unstated
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
7
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 $7.9M | 94c | S+525 bp | unstated | 3 |
| term loan lien unstated exited Sep 30, 2022 | unknown | n/a | unstated | 1 |
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B•••••• B••• I••• | term loan first lien First Lien Senior Secured Term Loan | $3.2M | $3.0M 94c | S+525 bp |
| B•••••• B••• I••• | unstated lien unstated Capex / Acquisition Facility | n/a | n/a | |
| B•••••• B••• I••• | equity equity Class A Units | n/a | $73,000 66c | |
| B•••••• B••• I••• | equity equity Class B Units | n/a | $0 | |
| B•••••• C•••••• I••••••••• C••• | unstated lien unstated Capex / Acquisition Facility | n/a | n/a | |
| B•••••• C•••••• I••••••••• C••• | equity equity Class A Units | n/a | $36,000 64c | |
| B•••••• C•••••• I••••••••• C••• | equity equity Class B Units | n/a | $0 | |
| B•••••• C•••••• I••••••••• C••• | term loan first lien First Lien Senior Secured Term Loan | $1.6M | $1.5M 94c | S+525 bp |
| B•••••• P•••••• C••••• C••• | equity equity Class A Units | n/a | $73,000 66c | |
| B•••••• P•••••• C••••• C••• | term loan first lien First Lien Senior Secured Term Loan | $3.2M | $3.0M 94c | S+525 bp |
| B•••••• P•••••• C••••• C••• | equity equity Class B Units | n/a | $0 | |
| B•••••• P•••••• C••••• C••• | unstated lien unstated Capex / Acquisition Facility | n/a | n/a |
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 | $7.9M | $7.5M | 94c | 0 |
| Mar 31, 2026 | 3 | $8.1M | $7.7M | 97c | 0 |
| Dec 31, 2025 | 3 | $9.3M | $9.3M | 98c | 0 |
| Sep 30, 2025 | 3 | $7.9M | $7.8M | 99c | 0 |
| Jun 30, 2025 | 3 | $7.8M | $7.8M | 98c | 0 |
| Mar 31, 2025 | 3 | $7.5M | $7.4M | 94c | 0 |
| Dec 31, 2024 | 3 | $12.4M | $12.4M | 87c | 0 |
| Sep 30, 2024 | 3 | $7.5M | $7.4M | 94c | 0 |
| Jun 30, 2024 | 3 | $7.4M | $7.3M | 93c | 0 |
| Mar 31, 2024 | 3 | $7.2M | $7.1M | 91c | 0 |
| Dec 31, 2023 | 3 | $7.7M | $7.6M | 97c | 0 |
| Sep 30, 2023 | 3 | $7.4M | $7.2M | 92c | 0 |
| Jun 30, 2023 | 3 | $7.3M | $7.2M | 92c | 0 |
| Mar 31, 2023 | 3 | $7.5M | $7.3M | 93c | 0 |
| Dec 31, 2022 | 3 | $8.0M | $7.9M | 99c | 0 |
| Sep 30, 2022 | 1 | $3.4M | $3.3M | 89c | 0 |
| Dec 31, 2021 | 1 | $0 | $0 | n/a | 0 |
What changed
- Mark recoveredMar 31, 2025
- Marked down across lendersDec 31, 2024
- Marked down (one lender)Dec 31, 2024
- Marked down (one lender)Dec 31, 2024
- Marked down (one lender)Dec 31, 2024
- Marked down across lendersMar 31, 2024
- Marked down (one lender)Mar 31, 2024
- Marked down (one lender)Mar 31, 2024
- Marked down (one lender)Mar 31, 2024
- Marked down across lendersMar 31, 2023
- Marked down (one lender)Mar 31, 2023
- Marked down (one lender)Mar 31, 2023
- Marked down (one lender)Mar 31, 2023
- Mark recoveredDec 31, 2022
- New lender joined a facilityDec 31, 2022
- New lender joined a facilityDec 31, 2022
- Facility left every BDC scheduleSep 30, 2022
- New borrower on a BDC scheduleDec 31, 2021
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- MERCELL #NOderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 3 BDCsderived