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
W••••••• I••••••••• I•• L•• first lien term loan
first lienheld today
Principal held
at least $324M
sum of BDC pieces, a lower bound
Fair value
$318M
98c on cost
Unfunded
n/a
pieces' unfunded commitments
Pricing
S+575 bp
modal across pieces
PIK
none stated
Maturity
Sep 1, 2032
html_schedule
Lenders
2 holding
0 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 |
|---|---|---|---|---|---|
| A••• S•••••••• I••••• F••• A••• CAPITAL MANAGEMENT LLC | held | $180M | $177M 99c | 575 bp | Sep 30, 2025 to Jun 30, 2026 |
| A••• C•••••• C••• A••• CAPITAL MANAGEMENT LLC | held | $144M | $141M 98c | 575 bp | Dec 31, 2021 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 | 2 | $324M | 98c | 575 bp | Sep 1, 2032 | |
| Mar 31, 2026 | 2 | $324M | 98c | 575 bp | 9.44% | Sep 1, 2032 |
| Dec 31, 2025 | 2 | $324M | 100c | 625 bp | 3.13% | Sep 1, 2032 |
| Sep 30, 2025 | 2 | $322M | 100c | 650 bp | 3.25% | Sep 1, 2032 |
| Jun 30, 2025 | 1 | $80.0M | 100c | 650 bp | 3.25% | Jun 1, 2027 |
| Mar 31, 2025 | 1 | $79.4M | 100c | 700 bp | 3.50% | Jun 1, 2027 |
| Dec 31, 2024 | 1 | $78.7M | 100c | 700 bp | 3.50% | Jun 1, 2027 |
| Sep 30, 2024 | 1 | $78.0M | 100c | 700 bp | 3.50% | Jun 1, 2027 |
| Jun 30, 2024 | 1 | $71.0M | 100c | 700 bp | 3.75% | Jun 1, 2027 |
| Mar 31, 2024 | 1 | $70.4M | 100c | 700 bp | 3.75% | Jun 1, 2027 |
| Dec 31, 2023 | 1 | $70.4M | 100c | 650 bp | Jun 1, 2027 | |
| Sep 30, 2023 | 1 | $70.4M | 100c | 650 bp | Jun 1, 2027 | |
| Jun 30, 2023 | 1 | $90.4M | 100c | 725 bp | 12.59% | Jun 1, 2027 |
| Mar 31, 2023 | 1 | $87.7M | 100c | 725 bp | 12.25% | Jun 1, 2027 |
| Dec 31, 2022 | 1 | $84.7M | 100c | 725 bp | 11.93% | Jun 1, 2027 |
| Sep 30, 2022 | 1 | $65.6M | 100c | 725 bp | Jun 1, 2027 | |
| Dec 31, 2021 | 1 | $61.6M | 100c | 725 bp | 8.00% | Jun 1, 2027 |
What changed on this facility
position and facility grain, including routine
- PIK interest increased Mar 31, 2026W••••••• I••••••••• I•• L•• term loan: PIK interest rose from 3.13% to 9.44%
- Maturity extended (observed) Sep 30, 2025W••••••• I••••••••• I•• L•• term loan: maturity moved from 2027-06-01 to 2032-09-01
- New lender joined a facility Sep 30, 2025A••• S•••••••• I••••• F••• joins W••••••• I••••••••• I•• L•• term loan (first lien) held by 1 other BDC
- Spread changed (observed) Jun 30, 2025W••••••• I••••••••• I•• L•• term loan: spread moved from 7.00% to 6.50%
- PIK interest appears Mar 31, 2024W••••••• I••••••••• I•• L•• term loan: PIK interest of 3.75% appears (was cash pay)
- Spread changed (observed) Mar 31, 2024W••••••• I••••••••• I•• L•• term loan: spread moved from 6.50% to 7.00%
- Spread changed (observed) Sep 30, 2023W••••••• I••••••••• I•• L•• term loan: spread moved from 7.25% to 6.50%
- PIK interest appears Dec 31, 2022W••••••• I••••••••• I•• L•• term loan: PIK interest of 11.93% appears (was cash pay)
Other pieces of this borrower's structure
- at least $111M
- unknown
- first lien delayed draw term loanexited Jun 30, 2025at least $11.1M
How this facility is known
- Grain
- W••••••• I••••••••• I•• L•• 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