DFX Intelligence
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Borrower
M•••••••• L•••••••• L••
group grade Aon a schedule nowsponsor unattributed
Also written as: Kegstar USA Inc; M•••••••• Global Asset Management LLC; MStar Holding Corporation
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
100¢ · 100¢ · 100¢ · 100¢ · 100¢Q2 2025 to Q2 2026
Principal held
at least $134M
sum of BDC pieces, a lower bound
Fair value
$134M
100c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
2
2 equity pieces beside them
Next maturity
Dec 1, 2030
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
9
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••• | $134M | 100¢ | 0 pts |
Every BDC piece · 1 position across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A••• C•••••• C••• | term loan first lien F•••• lien senior secured loan | $134M | $134M 100c | S+750 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 $134M | 100c | S+750 bp | Dec 1, 2030 | 1 |
| second lien term loan second lien exited Dec 31, 2024 | at least $136M | 99c | S+750 bp | Dec 1, 2029 | 1 |
Equity pieces beside the debt: preferred equity ($19.6M fair value, 1 BDC), equity ($9.8M fair value, 1 BDC)
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 | $134M | $134M | 100c | 0 |
| Mar 31, 2026 | 1 | $134M | $134M | 100c | 0 |
| Dec 31, 2025 | 1 | $135M | $135M | 100c | 0 |
| Sep 30, 2025 | 1 | $135M | $135M | 100c | 0 |
All 17 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 1 | $136M | $136M | 100c | 0 |
| Mar 31, 2025 | 1 | $136M | $135M | 99c | 0 |
| Dec 31, 2024 | 1 | $136M | $135M | 99c | 0 |
| Sep 30, 2024 | 1 | $189M | $189M | 100c | 0 |
| Jun 30, 2024 | 1 | $189M | $189M | 100c | 0 |
| Mar 31, 2024 | 1 | $189M | $189M | 100c | 0 |
| Dec 31, 2023 | 1 | $177M | $177M | 100c | 0 |
| Sep 30, 2023 | 1 | $177M | $177M | 100c | 0 |
| Jun 30, 2023 | 1 | $168M | $168M | 100c | 1 |
| Mar 31, 2023 | 1 | $164M | $164M | 100c | 1 |
| Dec 31, 2022 | 1 | $159M | $159M | 100c | 1 |
| Sep 30, 2022 | 1 | $154M | $154M | 100c | 1 |
| Dec 31, 2021 | 1 | $154M | $150M | 98c | 1 |
What changed
- Spread changed (observed)Dec 31, 2025
- Spread changed (observed)Jun 30, 2025
- Spread increasedJun 30, 2025
- Spread changed (observed)Dec 31, 2024
- Facility left every BDC scheduleDec 31, 2024
Full timeline · 14 eventsShow fewer
- Maturity extended (observed)Dec 31, 2024
- Maturity extended (observed)Dec 31, 2024
- Spread changed (observed)Sep 30, 2023
- Spread changed (observed)Dec 31, 2022
- Maturity extended (observed)Dec 31, 2022
- Spread increasedDec 31, 2022
- Maturity extended (observed)Dec 31, 2022
- PIK interest increasedSep 30, 2022
- PIK interest increasedSep 30, 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
- M•••••••• L••••••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived