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
P•••• C• F•• • A••••••••• I•••••••• S•••••••• L•• other
lien unstatedoff every schedule since Mar 31, 2025I••••••••
Principal held
at least $127M
sum of BDC pieces, a lower bound
Fair value
$122M
100c on cost
Unfunded
$6.0M
pieces' unfunded commitments
Pricing
S+550 bp
modal across pieces
PIK
none stated
Maturity
Nov 1, 2028
html_schedule
Lenders
0 holding
8 exited · 0 named on a deal
On the tape
10 quarters
Dec 31, 2022 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 |
|---|---|---|---|---|---|
| S• I••••••••• C•••• MS CAPITAL PARTNERS ADVISER INC. | dormant · 3 pieces | $10.6M | $10.5M 100c | 600 bp | Dec 31, 2022 to Mar 31, 2024 |
| T• R••• P•••• O•• S••••• P•••••• C••••• F••• OHA PRIVATE CREDIT ADVISORS LLC | exited · 6 pieces | $56.1M | $51.5M 101c | 550 bp | Dec 31, 2022 to Mar 31, 2025 |
| N•••• H•••• P•••••• I••••• F••• L•• MS CAPITAL PARTNERS ADVISER INC. | exited · 3 pieces | $47.3M | $47.0M 100c | 550 bp | Dec 31, 2022 to Mar 31, 2025 |
| T• S••••• B•• L•• MS CAPITAL PARTNERS ADVISER INC. | exited · 2 pieces | $17.4M | $17.3M 100c | 550 bp | Dec 31, 2022 to Mar 31, 2025 |
| W••••• T••• C•••••• C••• W••••• T••• C•••••• C••• ADVISORS LLC | exited · 5 pieces | $4.9M | $4.8M 100c | 550 bp | Dec 31, 2024 to Mar 31, 2025 |
| N•••• H•••• P•••••• I••••• F••• A• L•• MS CAPITAL PARTNERS ADVISER INC. | exited · 3 pieces | $1.3M | $1.3M 101c | 550 bp | Sep 30, 2023 to Mar 31, 2025 |
| L••• P•••••• C••••• L•• MS CAPITAL PARTNERS ADVISER INC. | exited | n/a | n/a | Dec 31, 2023 to Mar 31, 2025 | |
| O•• S••••• P•••••• L•••••• F••• •• L•• OHA PRIVATE CREDIT ADVISORS II, L.P. | exited | n/a | n/a | Dec 31, 2022 to Mar 31, 2025 | |
| M••••• S•••••• D••••• L•••••• F••• MS CAPITAL PARTNERS ADVISER INC. | exited · 2 pieces | n/a | n/a | Dec 31, 2022 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 | 8 | $127M | 100c | 550 bp | Nov 1, 2028 | |
| Dec 31, 2024 | 6 | $247M | 101c | 550 bp | Nov 1, 2028 | |
| Sep 30, 2024 | 5 | $112M | 101c | 550 bp | Nov 1, 2028 | |
| Jun 30, 2024 | 4 | $42.4M | 101c | 550 bp | ||
| Mar 31, 2024 | 5 | $81.1M | 100c | 600 bp | Jan 11, 2028 | |
| Dec 31, 2023 | 7 | $101M | 100c | 600 bp | Nov 1, 2028 | |
| Sep 30, 2023 | 7 | $100M | 99c | 600 bp | Nov 1, 2028 | |
| Jun 30, 2023 | 5 | $88.8M | 99c | 600 bp | Nov 1, 2028 | |
| Mar 31, 2023 | 4 | $69.5M | 97c | 600 bp | Nov 1, 2028 | |
| Dec 31, 2022 | 6 | $86.8M | 97c | 600 bp | Nov 1, 2028 |
What changed on this facility
position and facility grain, including routine
- Facility left every BDC schedule Mar 31, 2025P•••• C• F•• • A••••••••• I•••••••• S•••••••• L•• other (unknown) left every BDC schedule after 2025-03-31 (9 lenders, $135.8M last held)
- Lender left a facility Mar 31, 2025T• R••• P•••• O•• S••••• P•••••• C••••• F••• no longer holds P•••• C• F•• • A••••••••• I•••••••• S•••••••• L•• other after 2025-03-31; 1 BDC(s) still hold it
- Lender left a facility Mar 31, 2025N•••• H•••• P•••••• I••••• F••• L•• no longer holds P•••• C• F•• • A••••••••• I•••••••• S•••••••• L•• other after 2025-03-31; 1 BDC(s) still hold it
- Lender left a facility Mar 31, 2025T• S••••• B•• L•• no longer holds P•••• C• F•• • A••••••••• I•••••••• S•••••••• L•• other after 2025-03-31; 1 BDC(s) still hold it
- Lender left a facility Mar 31, 2025O•• S••••• P•••••• L•••••• F••• •• L•• no longer holds P•••• C• F•• • A••••••••• I•••••••• S•••••••• L•• other after 2025-03-31; 1 BDC(s) still hold it
- Lender left a facility Mar 31, 2025W••••• T••• C•••••• C••• no longer holds P•••• C• F•• • A••••••••• I•••••••• S•••••••• L•• other after 2025-03-31; 1 BDC(s) still hold it
- Lender left a facility Mar 31, 2025N•••• H•••• P•••••• I••••• F••• A• L•• no longer holds P•••• C• F•• • A••••••••• I•••••••• S•••••••• L•• other after 2025-03-31; 1 BDC(s) still hold it
- Lender left a facility Mar 31, 2025M••••• S•••••• D••••• L•••••• F••• no longer holds P•••• C• F•• • A••••••••• I•••••••• S•••••••• L•• other after 2025-03-31; 1 BDC(s) still hold it
- Lender left a facility Mar 31, 2025L••• P•••••• C••••• L•• no longer holds P•••• C• F•• • A••••••••• I•••••••• S•••••••• L•• other after 2025-03-31; 1 BDC(s) still hold it
Other pieces of this borrower's structure
- first lien term loanexited Mar 31, 2025at least $387M
- first lien delayed draw term loanexited Mar 31, 2025at least $61.1M
- delayed draw term loanexited Dec 31, 2024at least $26.7M
- first lien revolverexited Mar 31, 2025at least $8.7M
- term loanexited Dec 31, 2024at least $1.7M
- revolverexited Mar 31, 2025unknown
How this facility is known
- Grain
- P•••• C• F•• • A••••••••• I•••••••• S•••••••• L•• x otherderivedborrower 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