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
J•••• S••••• M•••• L•• unsecured or subordinated delayed draw term loan
unsecured or subordinatedoff every schedule since Mar 31, 2026
Principal held
at least $41.9M
sum of BDC pieces, a lower bound
Fair value
$41.3M
102c on cost
Unfunded
$1.5M
pieces' unfunded commitments
Pricing
S+1296 bp
modal across pieces
PIK
none stated
Maturity
Jun 7, 2027
html_schedule
Lenders
0 holding
1 exited · 0 named on a deal
On the tape
6 quarters
Dec 31, 2024 to Mar 31, 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 |
|---|---|---|---|---|---|
| M••••• C•••••• I••••• P••• C••• MC Advisors | exited · 2 pieces | $41.9M | $41.3M 102c | 1296 bp | Dec 31, 2024 to Mar 31, 2026 |
Facility through time
pieces summed per quarter end across the BDCs holding it
| Quarter end | BDCs | Principal held | On cost | Spread | PIK | Maturity |
|---|---|---|---|---|---|---|
| Mar 31, 2026 | 1 | $41.9M | 102c | 1296 bp | Jun 7, 2027 | |
| Dec 31, 2025 | 1 | $41.9M | 103c | 1279 bp | Jun 7, 2027 | |
| Sep 30, 2025 | 1 | $41.9M | 103c | 1153 bp | Jun 7, 2027 | |
| Jun 30, 2025 | 1 | $41.9M | 103c | 974 bp | Jun 7, 2027 | |
| Mar 31, 2025 | 1 | $41.9M | 102c | 900 bp | Jun 7, 2027 | |
| Dec 31, 2024 | 1 | $41.9M | 101c | 900 bp | Jun 7, 2027 |
What changed on this facility
position and facility grain, including routine
- Facility left every BDC schedule Mar 31, 2026J•••• S••••• M•••• L•• delayed draw (unsecured or subordinated) left every BDC schedule after 2026-03-31 (1 lender, $41.9M last held)
- Spread changed (observed) Dec 31, 2025J•••• S••••• M•••• L•• delayed draw: spread moved from 9.00% to 12.79%
- Spread changed (observed) Sep 30, 2025J•••• S••••• M•••• L•• delayed draw: spread moved from 9.74% to 11.53%
- Spread changed (observed) Jun 30, 2025J•••• S••••• M•••• L•• delayed draw: spread moved from 9.00% to 9.74%
Other pieces of this borrower's structure
- at least $40.5M
- delayed draw term loanexited Dec 31, 2024at least $41.9M
How this facility is known
- Grain
- J•••• S••••• M•••• L•• x unsecured or subordinated delayed draw 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