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.
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Facility
A•••• U• F••••• I•• first lien term loan
first lienheld todayCommercial Services & Supplies
Principal held
at least $407M
sum of BDC pieces, a lower bound
Fair value
$403M
100c on cost
Unfunded
n/a
pieces' unfunded commitments
Pricing
SOFR+450 bp
pieces from 425 bp to 600 bp
PIK
0.50%
paid in kind, the highest piece
Maturity
Sep 4, 2032
html_schedule
Lenders
10 holding
7 exited · 0 named on a deal
On the tape
17 quarters
Dec 31, 2021 to Jun 30, 2026
Lender group
every BDC that holds or held a piece; each row is that lender's own figures
| Lender | Status | Principal | Fair value | Spread | Held |
|---|---|---|---|---|---|
| C•••••• S•••••• L•••••• I•• CSL III ADVISOR, LLC | dormant · 2 pieces | $1.1M | $1.1M 102c | 575 bp | Dec 31, 2023 to Sep 30, 2024 |
| F••••••• P•••••• C••••• C• L•• FIDELITY DIVERSIFYING SOLUTIONS LLC | exited · 2 pieces | $62.9M | $61.1M 100c | 725 bp | Dec 31, 2022 to Dec 31, 2022 |
| J•••••••• C••••• P••••••• B•• I••• JEFFERIES CREDIT MANAGEMENT LLC | exited | $16.0M | $16.0M 100c | 475 bp | Jun 30, 2025 to Mar 31, 2026 |
| P••••••••• I••••••••• C••• P••••••••• INVESTMENT ADVISERS, LLC | exited · 2 pieces | $13.6M | $360,000 4c | Mar 31, 2024 to Sep 30, 2025 | |
| S••••• C••••• I••••••••• L•• JEFFERIES CREDIT MANAGEMENT LLC | exited | $5.1M | $5.1M 100c | 475 bp | Jun 30, 2025 to Mar 31, 2026 |
| R•••••• E••••••• I••••• F•••• L• REDWOOD CAPITAL MANAGEMENT, LLC | exited | $5.0M | $2.9M 62c | 551 bp | Dec 31, 2022 to Dec 31, 2023 |
| A••• C•••••• C••• A••• CAPITAL MANAGEMENT LLC | exited · 4 pieces | $500,000 | $500,000 100c | 575 bp | Dec 31, 2021 to Sep 30, 2023 |
| W••••••••• F••••••• I••• W••••••••• Advisers, LLC | exited | n/a | n/a | 750 bp | Dec 31, 2021 to Sep 30, 2024 |
| B••• O•• C••••• I••••• C•••• BLUE OWL CREDIT ADVISORS LLC | held · 2 pieces | $161M | $160M 100c | 450 bp | Jun 30, 2025 to Jun 30, 2026 |
| N•••• H•••• P•••••• I••••• F••• L•• MS CAPITAL PARTNERS ADVISER INC. | held · 2 pieces | $64.6M | $63.8M 100c | 450 bp | Dec 31, 2024 to Jun 30, 2026 |
| O•••••• S•••••••• C••••• F••• OAKTREE FUND ADVISORS, LLC | held | $54.5M | $53.6M 99c | 425 bp | Sep 30, 2025 to Jun 30, 2026 |
| C•••••• S•••••• L••••••• I••• CARLYLE GLOBAL CREDIT INVESTMENT MANAGEMENT L.L.C. | held · 3 pieces | $33.9M | $33.9M 101c | 500 bp | Dec 31, 2023 to Jun 30, 2026 |
| B••• O•• T••••••••• I••••• C•••• BLUE OWL TECHNOLOGY CREDIT ADVISORS II LLC | held · 2 pieces | $21.3M | $21.2M 100c | 450 bp | Jun 30, 2025 to Jun 30, 2026 |
| T• S••••• B•• L•• MS CAPITAL PARTNERS ADVISER INC. | held · 2 pieces | $19.7M | $19.4M 100c | 450 bp | Dec 31, 2024 to Jun 30, 2026 |
| A•••••• S•••••••• C••••• F••• ANTA••• CAPITAL CREDIT ADVISERS LLC | held | $18.9M | $18.2M 97c | 450 bp | Jun 30, 2025 to Jun 30, 2026 |
| M••••• S•••••• D••••• L•••••• F••• MS CAPITAL PARTNERS ADVISER INC. | held · 2 pieces | $13.0M | $12.9M 100c | 450 bp | Jun 30, 2024 to Jun 30, 2026 |
| C•••••• C••••• S••••••••• I••• CARLYLE GLOBAL CREDIT INVESTMENT MANAGEMENT L.L.C. | held | $11.6M | $11.6M 101c | 450 bp | Dec 31, 2023 to Jun 30, 2026 |
| C••••••••• C••••• P••••••• B•• I• I••• COMMONWEALTH CREDIT ADVISORS, LLC | held | $9.1M | $8.6M 95c | 600 bp | Sep 30, 2024 to Jun 30, 2026 |
Facility through time
pieces summed per quarter end across the BDCs holding it
| Quarter end | BDCs | Principal held | On cost | Spread | PIK | Maturity |
|---|---|---|---|---|---|---|
| Jun 30, 2026 | 10 | $407M | 100c | 450 bp | 0.50% | Sep 4, 2032 |
| Mar 31, 2026 | 12 | $432M | 100c | 475 bp | 0.50% | Sep 4, 2032 |
| Dec 31, 2025 | 12 | $441M | 100c | 475 bp | 0.50% | Sep 4, 2032 |
| Sep 30, 2025 | 13 | $468M | 96c | 500 bp | 6.50% | Sep 4, 2032 |
| Jun 30, 2025 | 10 | $184M | 94c | 500 bp | 6.50% | Dec 12, 2029 |
| Mar 31, 2025 | 5 | $47.7M | 85c | 500 bp | 6.50% | Dec 12, 2029 |
| Dec 31, 2024 | 7 | $163M | 95c | 500 bp | 6.50% | Dec 12, 2029 |
| Sep 30, 2024 | 7 | $61.2M | 89c | 575 bp | 6.50% | Dec 12, 2029 |
| Jun 30, 2024 | 6 | $36.6M | 93c | 575 bp | 6.50% | Dec 12, 2029 |
| Mar 31, 2024 | 5 | $19.6M | 101c | 675 bp | Dec 12, 2029 | |
| Dec 31, 2023 | 5 | $11.4M | 79c | 675 bp | Dec 10, 2029 | |
| Sep 30, 2023 | 3 | $8.6M | 80c | 575 bp | May 8, 2028 | |
| Jun 30, 2023 | 3 | $8.8M | 77c | 575 bp | May 8, 2028 | |
| Mar 31, 2023 | 3 | $15.0M | 77c | 575 bp | May 8, 2028 | |
| Dec 31, 2022 | 4 | $77.8M | 96c | 575 bp | Dec 9, 2029 | |
| Sep 30, 2022 | 2 | $3.5M | 99c | 550 bp | May 8, 2028 | |
| Dec 31, 2021 | 2 | $2.3M | 100c | 550 bp | May 8, 2028 |
What changed on this facility
position and facility grain, including routine
- Maturity extended (observed) Jun 30, 2026A•••• U• F••••• I•• term loan: maturity moved from 2032-09-04 to 2033-06-20
- Lender left a facility Mar 31, 2026J•••••••• C••••• P••••••• B•• I••• no longer holds A•••• U• F••••• I•• term loan after 2026-03-31; 15 BDC(s) still hold it
- Lender left a facility Mar 31, 2026S••••• C••••• I••••••••• L•• no longer holds A•••• U• F••••• I•• term loan after 2026-03-31; 15 BDC(s) still hold it
- Maturity extended (observed) Sep 30, 2025A•••• U• F••••• I•• term loan: maturity moved from 2029-12-10 to 2032-09-04
- New lender joined a facility Sep 30, 2025O•••••• S•••••••• C••••• F••• joins A•••• U• F••••• I•• term loan (first lien) held by 21 other BDCs
- Lender left a facility Sep 30, 2025P••••••••• I••••••••• C••• no longer holds A•••• U• F••••• I•• term loan after 2025-09-30; 15 BDC(s) still hold it
- Mark recovered Jun 30, 2025A•••• U• F••••• I•• term loan: marked from 85 to 94 cents on cost
- New lender joined a facility Jun 30, 2025B••• O•• C••••• I••••• C•••• joins A•••• U• F••••• I•• term loan (first lien) held by 21 other BDCs
- New lender joined a facility Jun 30, 2025B••• O•• T••••••••• I••••• C•••• joins A•••• U• F••••• I•• term loan (first lien) held by 21 other BDCs
- New lender joined a facility Jun 30, 2025A•••••• S•••••••• C••••• F••• joins A•••• U• F••••• I•• term loan (first lien) held by 21 other BDCs
- New lender joined a facility Jun 30, 2025J•••••••• C••••• P••••••• B•• I••• joins A•••• U• F••••• I•• term loan (first lien) held by 21 other BDCs
- New lender joined a facility Jun 30, 2025S••••• C••••• I••••••••• L•• joins A•••• U• F••••• I•• term loan (first lien) held by 21 other BDCs
- Marked down across lenders Mar 31, 2025A•••• U• F••••• I•• term loan: marked from 95 to 85 cents on cost across 5 lender(s)
- Mark recovered Dec 31, 2024A•••• U• F••••• I•• term loan: marked from 89 to 95 cents on cost
- Spread changed (observed) Dec 31, 2024A•••• U• F••••• I•• term loan: spread moved from 5.75% to 5.00%
- New lender joined a facility Dec 31, 2024N•••• H•••• P•••••• I••••• F••• L•• joins A•••• U• F••••• I•• term loan (first lien) held by 21 other BDCs
- New lender joined a facility Dec 31, 2024T• S••••• B•• L•• joins A•••• U• F••••• I•• term loan (first lien) held by 21 other BDCs
- New lender joined a facility Sep 30, 2024C••••••••• C••••• P••••••• B•• I• I••• joins A•••• U• F••••• I•• term loan (first lien) held by 21 other BDCs
- Lender left a facility Sep 30, 2024W••••••••• F••••••• I••• no longer holds A•••• U• F••••• I•• term loan after 2024-09-30; 15 BDC(s) still hold it
- Marked down across lenders Jun 30, 2024A•••• U• F••••• I•• term loan: marked from 101 to 93 cents on cost across 6 lender(s)
- Spread changed (observed) Jun 30, 2024A•••• U• F••••• I•• term loan: spread moved from 6.75% to 5.75%
- New lender joined a facility Jun 30, 2024M••••• S•••••• D••••• L•••••• F••• joins A•••• U• F••••• I•• term loan (first lien) held by 21 other BDCs
- Mark recovered Mar 31, 2024A•••• U• F••••• I•• term loan: marked from 79 to 101 cents on cost
- New lender joined a facility Mar 31, 2024P••••••••• I••••••••• C••• joins A•••• U• F••••• I•• term loan (first lien) held by 21 other BDCs
- New lender joined a facility Dec 31, 2023C•••••• S•••••• L••••••• I••• joins A•••• U• F••••• I•• term loan (first lien) held by 21 other BDCs
- New lender joined a facility Dec 31, 2023C•••••• C••••• S••••••••• I••• joins A•••• U• F••••• I•• term loan (first lien) held by 21 other BDCs
- Maturity extended (observed) Dec 31, 2023A•••• U• F••••• I•• term loan: maturity moved from 2028-05-08 to 2029-12-10
- Spread changed (observed) Dec 31, 2023A•••• U• F••••• I•• term loan: spread moved from 5.75% to 6.75%
- Lender left a facility Dec 31, 2023R•••••• E••••••• I••••• F•••• L• no longer holds A•••• U• F••••• I•• term loan after 2023-12-31; 15 BDC(s) still hold it
- New lender joined a facility Dec 31, 2023C•••••• S•••••• L•••••• I•• joins A•••• U• F••••• I•• term loan (first lien) held by 21 other BDCs
- Lender left a facility Sep 30, 2023A••• C•••••• C••• no longer holds A•••• U• F••••• I•• term loan after 2023-09-30; 15 BDC(s) still hold it
- Marked down across lenders Mar 31, 2023A•••• U• F••••• I•• term loan: marked from 96 to 77 cents on cost across 3 lender(s)
- Maturity extended (observed) Dec 31, 2022A•••• U• F••••• I•• term loan: maturity moved from 2028-05-08 to 2029-12-09
- Lender left a facility Dec 31, 2022F••••••• P•••••• C••••• C• L•• no longer holds A•••• U• F••••• I•• term loan after 2022-12-31; 15 BDC(s) still hold it
Other pieces of this borrower's structure
- at least $235M
- at least $9.4M
- at least $3.2M
- unknown
- unknown
- term loanexited Sep 30, 2023at least $6.5M
- second lien term loanexited Sep 30, 2024unknown
- $1.7M
- n/a
How this facility is known
- Grain
- A•••• U• F••••• I•• x first lien term loanderivedborrower group x kind x lien; tranches with different maturities sit under it
- Size
- lower bound: sum of BDC piecesderived
- Status
- unknownsignalnon-accrual, default and restructuring are not on this tape and are never inferred from a mark
- Origin
- bdc tapereported