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.
Borrower
Arcline Liberty Buyer LLC
Industrial Machinery & Supplies & Componentsgroup grade Aon a schedule nowsponsor unattributed
Principal held
at least $10.1M
sum of BDC pieces, a lower bound
Fair value
$10.0M
99c on cost, debt pieces
Unfunded
n/a
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
3
0 equity pieces beside them
Next maturity
Dec 1, 2032
no dated debt 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 $7.9M | 100c | SOFR+475 bp | Dec 1, 2032 | 1 |
| first lien delayed draw term loan first lien | at least $2.0M | 98c | SOFR+475 bp | Dec 1, 2032 | 1 |
| first lien revolver first lien | at least $301,000 | 98c | SOFR+375 bp | Dec 1, 2032 | 1 |
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| Stepstone Private Credit Fund LLC | revolver first lien Revolving Loan | NCNA Debt Inv. | First Lien Senior Secured Loan | 12/1/2032 | $301,000 | $294,000 98c | SOFR+375 bp |
| Stepstone Private Credit Fund LLC | term loan first lien Term Loan | NCNA Debt Inv. | First Lien Senior Secured Loan | 12/1/2032 | $7.9M | $7.8M 100c | SOFR+475 bp |
| Stepstone Private Credit Fund LLC | delayed draw term loan first lien Delayed Draw Term Loan | NCNA Debt Inv. | First Lien Senior Secured Loan | 12/1/2032 | $2.0M | $1.9M 98c | SOFR+475 bp |
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 | $10.1M | $10.0M | 99c | 0 |
| Mar 31, 2026 | 1 | $7.9M | $7.8M | 99c | 0 |
| Dec 31, 2025 | 1 | $15.8M | $15.8M | 100c | 0 |
What changed
- Spread changed (observed)Jun 30, 2026
- Spread changed (observed)Jun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedMar 31, 2026
- Spread changed (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
- ARCLINE LIBERTYderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived
- Industry
- Industrial Machinery & Supplies & Componentsreportedas one filer wrote it