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
F•• P••••••••• L•• first lien revolver
first lienoff every schedule since Mar 31, 2025
Principal held
at least $30.6M
sum of BDC pieces, a lower bound
Fair value
$26.1M
85c on cost
Unfunded
n/a
pieces' unfunded commitments
Pricing
S+550 bp
modal across pieces
PIK
3.00%
paid in kind, the highest piece
Maturity
Sep 13, 2028
html_schedule
Lenders
0 holding
1 exited · 0 named on a deal
On the tape
11 quarters
Dec 31, 2021 to Mar 31, 2025
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 |
|---|---|---|---|---|---|
| F••••••• B•• L•••••• C••• FRANKLIN BSP LENDING ADVISER, L.L.C. | dormant · 3 pieces | $22.8M | $22.8M 101c | 550 bp | Dec 31, 2021 to Sep 30, 2023 |
| F••••••• B•• C•••••• C••• FRANKLIN BSP CAPITAL ADVISER LLC | exited · 2 pieces | $30.6M | $26.1M 85c | 550 bp | Dec 31, 2021 to Mar 31, 2025 |
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, 2025 | 1 | $30.6M | 85c | 550 bp | 3.00% | Sep 13, 2028 |
| Dec 31, 2024 | 1 | $70.4M | 87c | 550 bp | Sep 13, 2028 | |
| Sep 30, 2024 | 1 | $33.5M | 100c | 550 bp | Sep 13, 2027 | |
| Jun 30, 2024 | 1 | $32.0M | 100c | 550 bp | Sep 13, 2027 | |
| Mar 31, 2024 | 1 | $30.5M | 100c | 550 bp | Sep 13, 2027 | |
| Dec 31, 2023 | 1 | $9.9M | 102c | 550 bp | Sep 13, 2027 | |
| Sep 30, 2023 | 2 | $33.2M | 101c | 550 bp | Sep 13, 2027 | |
| Jun 30, 2023 | 2 | $31.9M | 101c | 550 bp | Sep 13, 2027 | |
| Mar 31, 2023 | 2 | $32.0M | 102c | 550 bp | Sep 13, 2027 | |
| Dec 31, 2022 | 2 | $10.0M | 102c | 550 bp | Sep 13, 2027 | |
| Dec 31, 2021 | 2 | n/a | n/a |
What changed on this facility
position and facility grain, including routine
- Facility left every BDC schedule Mar 31, 2025F•• P••••••••• L•• revolver (first lien) left every BDC schedule after 2025-03-31 (2 lenders, $30.6M last held)
- PIK interest appears Mar 31, 2025F•• P••••••••• L•• revolver: PIK interest of 3.00% appears (was cash pay)
- Marked down across lenders Dec 31, 2024F•• P••••••••• L•• revolver: marked from 100 to 87 cents on cost across 1 lender(s)
- Maturity extended (observed) Dec 31, 2024F•• P••••••••• L•• revolver: maturity moved from 2027-09-13 to 2028-09-13
Other pieces of this borrower's structure
- at least $31.4M
- otherexited Jun 30, 2025at least $30.8M
How this facility is known
- Grain
- F•• P••••••••• L•• x first lien revolverderivedborrower 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