DFX Intelligence
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Borrower
K••• H•••••••• I••
Utilities: Electricgroup grade Aon a schedule nowsponsor unattributed
Also written as: Inc. (Franklin
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
95¢ · 100¢ · 100¢ · 98¢ · 99¢Q2 2025 to Q2 2026
Where each lender marks it on the first lien term loan, 2 points apart
97¢99¢
Principal held
at least $95.7M
sum of BDC pieces, a lower bound
Fair value
$93.1M
99c on cost, debt pieces
Unfunded
$1.8M
commitments not yet drawn
BDC lenders
12
8 on the latest quarter
Facilities
6
0 equity pieces beside them
Next maturity
Aug 1, 2031
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
10
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 |
|---|---|---|---|
| B••• C•••••• P•••••• C••••• | $26.8M | 99¢ | 0 pts |
| K•••• A••••••• B••• I••• | $19.2M | 99¢ | -1 pts |
| W••••• T••• C•••••• C••• | $17.1M | 98¢ | +1 pts |
| B•••••• P•••••• C••••• C••• | $11.2M | 97¢ | +2 pts |
| B••• C•••••• S•••••••• F••••••• I••• | $8.08M | 99¢ | 0 pts |
View all 8 lendersShow fewerlargest exposure first
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| B•••••• B••• I••• | $5.57M | 97¢ | +2 pts |
| B•••••• C•••••• I••••••••• C••• | $4.03M | 97¢ | +2 pts |
| K•••• D• 2•••• I••• | $3.79M | 99¢ | -1 pts |
Every BDC piece · 17 positions across 8 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••• C•••••• P•••••• C••••• | term loan first lien F•••• L••• S••••• S•••••• L••• S••• F•••• 0.75% S••••• 5.25% I••••••• R••• 8.91% M••••••• | $25.8M | $25.3M 99c | SOFR+525 bp |
| K•••• A••••••• B••• I••• | term loan first lien F•••• lien senior secured loan - I••••••• R••• 8.91% - S••••• 5.25% - R•••••••• S•••(Q) - | $18.7M | $18.3M 99c | SOFR+525 bp |
| W••••• T••• C•••••• C••• | term loan lien unstated T••• L••• | N••••••••• I••••• | $17.1M | $16.5M 98c | S+525 bp |
| B•••••• P•••••• C••••• C••• | term loan first lien F•••• L••• S••••• S•••••• T••• L••• | $10.8M | $10.4M 97c | S+525 bp |
| B••• C•••••• S•••••••• F••••••• I••• | term loan first lien F•••• L••• S••••• S•••••• L••• S••• F•••• 0.75% S••••• 5.25% I••••••• R••• 8.91% M••••••• | $7.8M | $7.7M 99c | SOFR+525 bp |
View all 17 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B•••••• B••• I••• | term loan first lien F•••• L••• S••••• S•••••• T••• L••• | $5.4M | $5.2M 97c | S+525 bp |
| B•••••• C•••••• I••••••••• C••• | term loan first lien F•••• L••• S••••• S•••••• T••• L••• | $3.9M | $3.8M 97c | S+525 bp |
| K•••• D• 2•••• I••• | term loan first lien F•••• lien senior secured loan - I••••••• R••• 8.91% - S••••• 5.25% - R•••••••• S•••(Q) - | $3.7M | $3.6M 99c | SOFR+525 bp |
| B••• C•••••• P•••••• C••••• | revolver first lien F•••• L••• S••••• S•••••• L••• - R••••••• S••• F•••• 0.75% S••••• 5.25% I••••••• R••• 8.92 | $986,000 | $919,000 97c | SOFR+525 bp |
| K•••• A••••••• B••• I••• | revolver first lien F•••• lien senior secured revolving loan - I••••••• R••• 8.91% - S••••• 5.25% - R•••••••• | $472,000 | $463,000 103c | SOFR+525 bp |
| B•••••• P•••••• C••••• C••• | revolver lien unstated R••••••• | $331,000 | $282,000 90c | S+525 bp |
| B••• C•••••• S•••••••• F••••••• I••• | revolver first lien F•••• L••• S••••• S•••••• L••• - R••••••• S••• F•••• 0.75% S••••• 5.25% I••••••• R••• 8.92 | $263,000 | $246,000 97c | SOFR+525 bp |
| B•••••• B••• I••• | revolver lien unstated R••••••• | $165,000 | $140,000 89c | S+525 bp |
| B•••••• C•••••• I••••••••• C••• | revolver lien unstated R••••••• | $119,000 | $102,000 90c | S+525 bp |
| K•••• D• 2•••• I••• | revolver first lien F•••• lien senior secured revolving loan - I••••••• R••• 8.91% - S••••• 5.25% - R•••••••• | $93,000 | $92,000 103c | SOFR+525 bp |
| W••••• T••• C•••••• C••• | revolver lien unstated R••••••• | N••••••••• I••••• | $36,000 | $8,000 89c | S+525 bp |
| W••••• T••• C•••••• C••• | revolver lien unstated R••••••• | Not disclosed | Not disclosed | S+525 bp |
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 $76.2M | 99c | SOFR+525 bp | Aug 1, 2031 | 7 |
| term loan lien unstated | at least $17.1M | 98c | S+525 bp | Aug 1, 2031 | 1 |
| first lien revolver first lien | at least $1.8M | 99c | SOFR+525 bp | Aug 1, 2031 | 4 |
| revolver lien unstated | at least $651,000 | 90c | S+525 bp | Aug 1, 2031 | 4 |
| second lien term loan second lien exited Dec 31, 2023 | at least $143M | 91c | S+800 bp | Aug 1, 2027 | 3 |
All 6 facilitiesShow fewerheld first, largest first
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| other lien unstated exited Dec 31, 2021 | at least $13.7M | 84c | S+400 bp | Aug 14, 2026 | 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 | 8 | $95.7M | $93.1M | 99c | 0 |
| Mar 31, 2026 | 8 | $101M | $97.9M | 98c | 0 |
| Dec 31, 2025 | 8 | $160M | $159M | 100c | 0 |
| Sep 30, 2025 | 7 | $99.4M | $64.7M | 66c | 0 |
All 17 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 1 | $13.2M | $12.5M | 95c | 0 |
| Mar 31, 2025 | 1 | $13.2M | $13.0M | 98c | 0 |
| Dec 31, 2024 | 4 | $26.5M | $26.1M | 99c | 0 |
| Sep 30, 2024 | 1 | $13.3M | $12.9M | 97c | 0 |
| Jun 30, 2024 | 1 | $13.3M | $13.2M | 99c | 0 |
| Mar 31, 2024 | 1 | $13.4M | $13.2M | 99c | 0 |
| Dec 31, 2023 | 4 | $169M | $153M | 90c | 0 |
| Sep 30, 2023 | 3 | $73.4M | $66.4M | 91c | 0 |
| Jun 30, 2023 | 3 | $73.5M | $64.4M | 88c | 0 |
| Mar 31, 2023 | 3 | $73.5M | $62.5M | 85c | 0 |
| Dec 31, 2022 | 3 | $87.1M | $72.8M | 84c | 0 |
| Sep 30, 2022 | 2 | $51.1M | $43.5M | 86c | 0 |
| Dec 31, 2021 | 2 | $64.9M | $55.6M | 86c | 0 |
What changed
- Mark recoveredJun 30, 2026
- Marked down across lendersMar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
Full timeline · 24 eventsShow fewer
- Marked down (one lender)Mar 31, 2026
- Mark recoveredDec 31, 2025
- New lender joined a facilityDec 31, 2025
- Mark recoveredDec 31, 2025
- New lender joined a facilityDec 31, 2025
- Maturity extended (observed)Sep 30, 2025
- Spread changed (observed)Sep 30, 2025
- New lender joined a facilitySep 30, 2025
- New lender joined a facilitySep 30, 2025
- New lender joined a facilitySep 30, 2025
- New lender joined a facilitySep 30, 2025
- New lender joined a facilitySep 30, 2025
- New lender joined a facilitySep 30, 2025
- New lender joined a facilitySep 30, 2025
- Lender left a facilityJun 30, 2025
- Mark recoveredMar 31, 2024
- Facility left every BDC scheduleDec 31, 2023
- New borrower on a BDC scheduleDec 31, 2021
- Facility left every 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
- K••• HOLDINGderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 12 BDCsderived
- Industry
- Utilities: Electricreportedas one filer wrote it