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
H••• S••••• B••••• I•• delayed draw term loan
Principal held
at least $18.6M
sum of BDC pieces, a lower bound
Fair value
$2.8M
99c on cost
Unfunded
$111M
pieces' unfunded commitments
Pricing
S+425 bp
modal across pieces
PIK
none stated
Maturity
Apr 14, 2028
html_schedule
Lenders
6 holding
3 exited · 0 named on a deal
On the tape
15 quarters
Dec 31, 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 |
|---|---|---|---|---|---|
| T• S••••• B•• L•• MS CAPITAL PARTNERS ADVISER INC. | exited · 3 pieces | $26.5M | $26.5M 101c | 525 bp | Dec 31, 2022 to Dec 31, 2024 |
| M••••• S•••••• D••••• L•••••• F••• MS CAPITAL PARTNERS ADVISER INC. | exited | n/a | n/a | Jun 30, 2024 to Jun 30, 2024 | |
| N•••• H•••• P•••••• I••••• F••• A• L•• MS CAPITAL PARTNERS ADVISER INC. | exited | n/a | n/a | Mar 31, 2024 to Jun 30, 2025 | |
| W••••• T••• C•••••• C••• W••••• T••• C•••••• C••• ADVISORS LLC | held · 2 pieces | $18.6M | $2.8M 99c | 425 bp | Sep 30, 2025 to Jun 30, 2026 |
| B•••••• P•••••• C••••• C••• BARINGS LLC | held | n/a | n/a | Dec 31, 2024 to Jun 30, 2026 | |
| B••••••••• S•••••• L•••••• F••• BLACKSTONE PRIVATE CREDIT STRATEGIES LLC | held | n/a | n/a | Dec 31, 2022 to Jun 30, 2026 | |
| B•••••• B••• I••• BARINGS LLC | held | n/a | n/a | Dec 31, 2024 to Jun 30, 2026 | |
| B•••••• C•••••• I••••••••• C••• BARINGS LLC | held | n/a | n/a | Dec 31, 2024 to Jun 30, 2026 | |
| B••••••••• P•••••• C••••• F••• BLACKSTONE PRIVATE CREDIT STRATEGIES LLC | held | n/a | n/a | Dec 31, 2022 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 | 6 | $18.6M | 99c | 425 bp | Apr 14, 2028 | |
| Mar 31, 2026 | 6 | $18.6M | 98c | 450 bp | Apr 14, 2028 | |
| Dec 31, 2025 | 6 | $18.6M | 102c | 450 bp | Apr 14, 2028 | |
| Sep 30, 2025 | 6 | $28.6M | 102c | 450 bp | Apr 14, 2028 | |
| Jun 30, 2025 | 3 | n/a | n/a | |||
| Mar 31, 2025 | 2 | n/a | n/a | |||
| Dec 31, 2024 | 7 | $26.5M | 101c | 525 bp | Apr 14, 2028 | |
| Sep 30, 2024 | 4 | $21.3M | 102c | 525 bp | Apr 14, 2028 | |
| Jun 30, 2024 | 5 | $17.3M | 102c | 525 bp | Apr 14, 2028 | |
| Mar 31, 2024 | 4 | $15.7M | 100c | 525 bp | Apr 14, 2028 | |
| Dec 31, 2023 | 3 | $15.0M | 102c | 575 bp | Apr 14, 2028 | |
| Sep 30, 2023 | 3 | $15.0M | 102c | 575 bp | Apr 14, 2028 | |
| Jun 30, 2023 | 3 | $14.1M | 101c | 575 bp | Apr 14, 2028 | |
| Mar 31, 2023 | 3 | $11.9M | 98c | 575 bp | Apr 14, 2028 | |
| Dec 31, 2022 | 3 | n/a | n/a |
What changed on this facility
position and facility grain, including routine
- Maturity approaching Apr 14, 2028H••• S••••• B••••• I•• delayed draw (unknown) matures 2028-04-14 (inside 24 months; $25.3M held by 13 BDCs)
- Spread changed (observed) Sep 30, 2025H••• S••••• B••••• I•• delayed draw: spread moved from 5.25% to 4.50%
- New lender joined a facility Sep 30, 2025W••••• T••• C•••••• C••• joins H••• S••••• B••••• I•• delayed draw (unknown) held by 6 other BDCs
- Lender left a facility Jun 30, 2025N•••• H•••• P•••••• I••••• F••• A• L•• no longer holds H••• S••••• B••••• I•• delayed draw after 2025-06-30; 8 BDC(s) still hold it
- Lender left a facility Dec 31, 2024T• S••••• B•• L•• no longer holds H••• S••••• B••••• I•• delayed draw after 2024-12-31; 6 BDC(s) still hold it
- New lender joined a facility Dec 31, 2024B•••••• B••• I••• joins H••• S••••• B••••• I•• delayed draw (unknown) held by 6 other BDCs
- New lender joined a facility Dec 31, 2024B•••••• C•••••• I••••••••• C••• joins H••• S••••• B••••• I•• delayed draw (unknown) held by 6 other BDCs
- New lender joined a facility Dec 31, 2024B•••••• P•••••• C••••• C••• joins H••• S••••• B••••• I•• delayed draw (unknown) held by 6 other BDCs
- Lender left a facility Jun 30, 2024M••••• S•••••• D••••• L•••••• F••• no longer holds H••• S••••• B••••• I•• delayed draw after 2024-06-30; 6 BDC(s) still hold it
- New lender joined a facility Jun 30, 2024M••••• S•••••• D••••• L•••••• F••• joins H••• S••••• B••••• I•• delayed draw (unknown) held by 5 other BDCs
- Spread changed (observed) Mar 31, 2024H••• S••••• B••••• I•• delayed draw: spread moved from 5.75% to 5.25%
- New lender joined a facility Mar 31, 2024N•••• H•••• P•••••• I••••• F••• A• L•• joins H••• S••••• B••••• I•• delayed draw (unknown) held by 4 other BDCs
Other pieces of this borrower's structure
- at least $334M
- at least $151M
- at least $9.0M
- unknown
- unknown
- $45.4M
- $294M
How this facility is known
- Grain
- H••• S••••• B••••• I•• x delayed draw term loanderivedborrower group x kind x lien; tranches with different maturities sit under it
- Size
- lower bound: sum of BDC piecesderived
- Sponsor basis
- the sponsor's own portfolio page lists a company of this namederived
- Status
- unknownsignalnon-accrual, default and restructuring are not on this tape and are never inferred from a mark
- Origin
- bdc tapereported