DFX Intelligence
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Borrower
D••••••• H••••• S••••
group grade Aoff every schedule since Jun 30, 2025sponsor unattributed
Also written as: D••••••• Holdco SpA
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
109¢ · 106¢ · 107¢Q2 2024 to Q1 2025
Principal held
at least $182M
sum of BDC pieces, a lower bound
Fair value
$215M
119c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
3
3 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
Oct 27, 2028
no dated debt inside 24 months
On the tape since
Dec 31, 2022
latest Jun 30, 2025
Events
3
dated, non-routine
Lender marks
each lender's own fair value over cost at Jun 30, 2025, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| H•• C•••••••• L•••••• F••• | $95.6M | 119¢ as filed, not counted | no comparable mark |
| B••••••••• P•••••• C••••• F••• | $83.3M | 119¢ as filed, not counted | no comparable mark |
| B••••••••• S•••••• L•••••• F••• | $3.51M | 117¢ as filed, not counted | no comparable mark |
Every BDC piece · 6 positions across 3 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| H•• C•••••••• L•••••• F••• | delayed draw term loan first lien | $82.3M | $97.0M 120c | S+550 bp |
| B••••••••• P•••••• C••••• F••• | unstated lien unstated | $60.1M | $70.8M 121c | S+650 bp |
| B••••••••• P•••••• C••••• F••• | unstated lien unstated | $23.2M | $27.3M 114c | S+550 bp |
| H•• C•••••••• L•••••• F••• | delayed draw term loan first lien | $13.3M | $15.7M 115c | S+550 bp |
| B••••••••• S•••••• L•••••• F••• | unstated lien unstated | $1.8M | $2.1M 121c | S+650 bp |
View all 6 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••••••••• S•••••• L•••••• F••• | unstated lien unstated | $1.8M | $2.1M 114c | S+550 bp |
Capital structure as the BDCs see it
latest quarter end Jun 30, 2025
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien delayed draw term loan first lien exited Jun 30, 2025 | at least $95.6M | 119c | S+550 bp | Oct 27, 2028 | 1 |
| other lien unstated exited Jun 30, 2025 | at least $86.8M | 119c | S+650 bp | Oct 27, 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, 2025 | 3 | $182M | $215M | 119c | 0 |
| Mar 31, 2025 | 3 | $182M | $197M | 109c | 0 |
| Dec 31, 2024 | 1 | $181M | $171M | 106c | 0 |
| Sep 30, 2024 | 1 | $90.7M | $91.6M | 114c | 0 |
All 11 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2024 | 1 | $90.7M | $88.1M | 110c | 0 |
| Mar 31, 2024 | 1 | $90.7M | $89.1M | 111c | 0 |
| Dec 31, 2023 | 1 | $90.7M | $90.2M | 112c | 0 |
| Sep 30, 2023 | 1 | $90.7M | $86.0M | 107c | 0 |
| Jun 30, 2023 | 1 | $90.7M | $87.8M | 110c | 0 |
| Mar 31, 2023 | 1 | $90.7M | $87.2M | 109c | 0 |
| Dec 31, 2022 | 1 | $90.7M | $85.8M | 107c | 0 |
What changed
- Facility left every BDC scheduleJun 30, 2025
- Facility left every BDC scheduleJun 30, 2025
- Spread increasedJun 30, 2025
- Spread increasedJun 30, 2025
- New lender joined a facilityMar 31, 2025
Full timeline · 8 eventsShow fewer
- New lender joined a facilityMar 31, 2025
- Marked down (one lender)Dec 31, 2024
- Spread changed (observed)Sep 30, 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
- DOLCETTOderivedthe codename stem after legal suffixes and deal words
- Spellings
- 2 across 3 BDCsderived