DFX Intelligence
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Borrower
W•••••• A•••••••• L••
group grade Aon a schedule nowsponsor unattributed
Also written as: WAAM Topco, LLC
What matters now
- $65.7Mprincipal outstanding
$65.7M principal held by 2 lenders; matures Mar 2028.
Q2 2026 · Refinancing is due in 17 months at a 100¢ mark.
FactBDC schedules of investments, 30 Jun 2026; a sum of the BDCs' pieces, a lower bound
Mark path, consensus per quarter end
100¢ · 100¢ · 100¢ · 100¢ · 100¢Q2 2025 to Q2 2026
Where each lender marks it, 0 points apart
100¢100¢
Principal held
at least $65.7M
sum of BDC pieces, a lower bound
Fair value
$71.9M
100c on cost, debt pieces
Unfunded
$3.0M
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
2
2 equity pieces beside them
Next maturity
Mar 1, 2028
$65.7M 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 |
|---|---|---|---|
| A••• C•••••• C••• | $44.9M | 100¢ | 0 pts |
| A••• S•••••••• I••••• F••• | $20.8M | 100¢ | new this quarter |
Every BDC piece · 7 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A••• C•••••• C••• | term loan first lien F•••• lien senior secured loan 1 | $38.5M | $38.5M 100c | S+525 bp |
| A••• S•••••••• I••••• F••• | term loan first lien F•••• lien senior secured loan | $20.8M | $20.8M 100c | S+500 bp |
| A••• C•••••• C••• | term loan first lien F•••• lien senior secured loan 3 | $4.9M | $4.9M 100c | S+550 bp |
| A••• C•••••• C••• | revolver first lien F•••• lien senior secured revolving loan | $800,000 | $800,000 100c | S+575 bp |
| A••• C•••••• C••• | term loan first lien F•••• lien senior secured loan 2 | $700,000 | $700,000 100c | S+575 bp |
View all 7 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A••• C•••••• C••• | equity equity C•••• A units | Not disclosed | $6.2M 270c | |
| A••• C•••••• C••• | unstated lien unstated | Not disclosed | Not disclosed |
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 $64.9M | 100c | S+500 bp | Mar 1, 2028 | 2 |
| first lien revolver first lien | at least $800,000 | 100c | S+575 bp | Mar 1, 2028 | 1 |
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 | 2 | $65.7M | $65.7M | 100c | 0 |
| Mar 31, 2026 | 2 | $45.0M | $45.0M | 100c | 0 |
| Dec 31, 2025 | 1 | $41.1M | $41.1M | 100c | 0 |
| Sep 30, 2025 | 1 | $24.9M | $24.9M | 100c | 0 |
All 15 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 1 | $12.5M | $12.5M | 100c | 0 |
| Mar 31, 2025 | 1 | $12.5M | $12.5M | 100c | 0 |
| Dec 31, 2024 | 1 | $5.0M | $5.0M | 100c | 0 |
| Sep 30, 2024 | 1 | $2.1M | $2.1M | 100c | 0 |
| Jun 30, 2024 | 1 | $1.6M | $1.6M | 100c | 0 |
| Mar 31, 2024 | 1 | $700,000 | $700,000 | 100c | 0 |
| Dec 31, 2023 | 1 | $700,000 | $700,000 | 100c | 0 |
| Sep 30, 2023 | 1 | $600,000 | $600,000 | 100c | 0 |
| Jun 30, 2023 | 1 | $600,000 | $600,000 | 100c | 0 |
| Mar 31, 2023 | 1 | $600,000 | $600,000 | 100c | 0 |
| Dec 31, 2022 | 1 | $600,000 | $600,000 | 100c | 0 |
What changed
- Maturity approachingMar 1, 2028
- Maturity approachingMar 1, 2028
- New lender joined a facilityMar 31, 2026
- Spread changed (observed)Jun 30, 2025
- Spread changed (observed)Mar 31, 2025
Full timeline · 7 eventsShow fewer
- Spread changed (observed)Dec 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
- W•••••• A•••••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived