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.
Facility
Tank Holding Corp first lien term loan
first lienheld todayContainers and Packaging
Principal held
at least $140M
sum of BDC pieces, a lower bound
Fair value
$130M
94c on cost
Unfunded
n/a
pieces' unfunded commitments
Pricing
SOFR+600 bp
pieces from 575 bp to 600 bp
PIK
none stated
Maturity
Mar 31, 2028
html_schedule
Lenders
10 holding
5 exited · 0 named on a deal
On the tape
16 quarters
Sep 30, 2022 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 |
|---|---|---|---|---|---|
| Morgan Stanley Direct Lending Fund MS CAPITAL PARTNERS ADVISER INC. | exited · 3 pieces | $16.0M | $15.1M 96c | 600 bp | Jun 30, 2024 to Jun 30, 2025 |
| Kennedy Lewis Capital Co KENNEDY LEWIS CAPITAL HOLDINGS LLC | exited · 3 pieces | $6.4M | $6.0M 100c | 600 bp | Dec 31, 2024 to Dec 31, 2024 |
| BC Partners Lending Corp BC PARTNERS ADVISORS L.P. | exited · 2 pieces | $4.5M | $4.3M 98c | 600 bp | Sep 30, 2023 to Sep 30, 2025 |
| LGAM Private Credit LLC MS CAPITAL PARTNERS ADVISER INC. | exited · 2 pieces | $4.4M | $4.2M 96c | 600 bp | Jun 30, 2024 to Jun 30, 2025 |
| Audax Credit BDC Inc. | exited | $3.9M | $3.9M 100c | 575 bp | Dec 31, 2022 to Jun 30, 2025 |
| Carlyle Secured Lending, Inc. CARLYLE GLOBAL CREDIT INVESTMENT MANAGEMENT L.L.C. | held · 3 pieces | $47.6M | $43.4M 92c | 600 bp | Sep 30, 2022 to Jun 30, 2026 |
| Carlyle Credit Solutions, Inc. CARLYLE GLOBAL CREDIT INVESTMENT MANAGEMENT L.L.C. | held · 2 pieces | $27.5M | $25.1M 92c | 600 bp | Dec 31, 2022 to Jun 30, 2026 |
| Barings Private Credit Corp BARINGS LLC | held · 2 pieces | $20.4M | $19.3M 95c | 600 bp | Dec 31, 2022 to Jun 30, 2026 |
| Barings BDC, Inc. BARINGS LLC | held · 2 pieces | $10.8M | $10.2M 95c | 600 bp | Sep 30, 2022 to Jun 30, 2026 |
| Crestline Lending Solutions, LLC CRESTLINE MANAGEMENT, L.P. | held | $10.4M | $9.6M 97c | 575 bp | Dec 31, 2024 to Jun 30, 2026 |
| Stepstone Private Credit Fund LLC STEPSTONE GROUP PRIVATE DEBT LLC | held · 2 pieces | $9.7M | $9.3M 100c | 575 bp | Sep 30, 2023 to Jun 30, 2026 |
| Barings Capital Investment Corp BARINGS LLC | held · 2 pieces | $9.0M | $8.5M 95c | 600 bp | Dec 31, 2022 to Jun 30, 2026 |
| Palmer Square Capital BDC Inc. PALMER SQUARE BDC ADVISOR LLC | held · 2 pieces | $4.5M | $4.1M 93c | 600 bp | Dec 31, 2023 to Jun 30, 2026 |
| Antares Strategic Credit Fund ANTARES CAPITAL CREDIT ADVISERS LLC | held | $244,000 | $225,000 94c | 575 bp | Mar 31, 2024 to Jun 30, 2026 |
| Antares Private Credit Fund ANTARES CAPITAL CREDIT ADVISERS LLC | held | $196,000 | $182,000 93c | 575 bp | Dec 31, 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 | $140M | 94c | 575 bp | Mar 31, 2028 | |
| Mar 31, 2026 | 10 | $132M | 91c | 575 bp | Mar 31, 2028 | |
| Dec 31, 2025 | 10 | $143M | 95c | 575 bp | Mar 31, 2028 | |
| Sep 30, 2025 | 11 | $138M | 99c | 575 bp | Mar 31, 2028 | |
| Jun 30, 2025 | 13 | $136M | 98c | 600 bp | Aug 31, 2029 | |
| Mar 31, 2025 | 13 | $156M | 99c | 600 bp | Mar 31, 2028 | |
| Dec 31, 2024 | 15 | $382M | 101c | 575 bp | Aug 31, 2029 | |
| Sep 30, 2024 | 12 | $146M | 100c | 575 bp | Mar 31, 2028 | |
| Jun 30, 2024 | 10 | $106M | 101c | 575 bp | Mar 31, 2028 | |
| Mar 31, 2024 | 9 | $103M | 101c | 575 bp | Mar 31, 2028 | |
| Dec 31, 2023 | 9 | $160M | 100c | 575 bp | Mar 31, 2028 | |
| Sep 30, 2023 | 8 | $83.4M | 100c | 575 bp | Mar 31, 2028 | |
| Jun 30, 2023 | 6 | $79.9M | 99c | 575 bp | Mar 31, 2028 | |
| Mar 31, 2023 | 5 | $69.9M | 100c | 575 bp | Mar 31, 2028 | |
| Dec 31, 2022 | 6 | $112M | 100c | 575 bp | Mar 31, 2028 | |
| Sep 30, 2022 | 2 | $49.0M | 99c | 575 bp | Mar 31, 2028 |
What changed on this facility
position and facility grain, including routine
- Maturity approaching Mar 31, 2028Tank Holding Corp term loan (first lien) matures 2028-03-31 (inside 24 months; $130.5M held by 15 BDCs)
- Lender left a facility Sep 30, 2025BC Partners Lending Corp no longer holds Tank Holding Corp term loan after 2025-09-30; 12 BDC(s) still hold it
- Maturity extended (observed) Jun 30, 2025Tank Holding Corp term loan: maturity moved from 2028-03-31 to 2029-08-31
- Lender left a facility Jun 30, 2025Morgan Stanley Direct Lending Fund no longer holds Tank Holding Corp term loan after 2025-06-30; 12 BDC(s) still hold it
- Lender left a facility Jun 30, 2025LGAM Private Credit LLC no longer holds Tank Holding Corp term loan after 2025-06-30; 12 BDC(s) still hold it
- Lender left a facility Jun 30, 2025Audax Credit BDC Inc. no longer holds Tank Holding Corp term loan after 2025-06-30; 12 BDC(s) still hold it
- Maturity extended (observed) Dec 31, 2024Tank Holding Corp term loan: maturity moved from 2028-03-31 to 2029-08-31
- Lender left a facility Dec 31, 2024Kennedy Lewis Capital Co no longer holds Tank Holding Corp term loan after 2024-12-31; 12 BDC(s) still hold it
- New lender joined a facility Dec 31, 2024Kennedy Lewis Capital Co joins Tank Holding Corp term loan (first lien) held by 14 other BDCs
- New lender joined a facility Jun 30, 2024Morgan Stanley Direct Lending Fund joins Tank Holding Corp term loan (first lien) held by 14 other BDCs
- New lender joined a facility Jun 30, 2024LGAM Private Credit LLC joins Tank Holding Corp term loan (first lien) held by 14 other BDCs
- New lender joined a facility Sep 30, 2023BC Partners Lending Corp joins Tank Holding Corp term loan (first lien) held by 14 other BDCs
- New lender joined a facility Dec 31, 2022Barings Private Credit Corp joins Tank Holding Corp term loan (first lien) held by 14 other BDCs
- New lender joined a facility Dec 31, 2022Barings Capital Investment Corp joins Tank Holding Corp term loan (first lien) held by 14 other BDCs
Other pieces of this borrower's structure
- at least $6.0M
- at least $254,000
- at least $8,000
- unknown
- second lien term loanexited Dec 31, 2021at least $41.5M
- delayed draw term loanexited Dec 31, 2025unknown
- second lien delayed draw term loanexited Dec 31, 2024unknown
- otherexited Sep 30, 2025unknown
- $2.4M
- $2.4M
How this facility is known
- Grain
- Tank Holding Corp 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