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
L•••••• H••••••••• H•••••• C••••••• L•• first lien term loan
first lienheld todayCommercial Services & Supplies
Principal held
at least $575M
sum of BDC pieces, a lower bound
Fair value
$554M
100c on cost
Unfunded
n/a
pieces' unfunded commitments
Pricing
SOFR+550 bp
pieces from 275 bp to 550 bp
PIK
2.75%
paid in kind, the highest piece
Maturity
Aug 22, 2031
html_schedule
Lenders
14 holding
0 exited · 0 named on a deal
On the tape
8 quarters
Sep 30, 2024 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 |
|---|---|---|---|---|---|
| G•••••• S•••• M••••• M••••• L•••••• C•••• I• G•••••• S•••• Asset Management, L.P | dormant · 3 pieces | $15.2M | $13.4M 101c | 550 bp | Jun 30, 2025 to Jun 30, 2025 |
| G•••••• S•••• P•••••• C••••• C•••• G•••••• S•••• Asset Management, L.P | held · 3 pieces | $118M | $108M 100c | 550 bp | Jun 30, 2025 to Jun 30, 2026 |
| A••••• D••• S•••••••• B•• APOLLO CREDIT MANAGEMENT, LLC | held | $101M | $100M 100c | 275 bp | Sep 30, 2024 to Jun 30, 2026 |
| M•• I••••••••• C•••• | held | $65.8M | $64.9M 100c | 550 bp | Sep 30, 2024 to Jun 30, 2026 |
| A••• C•••••• C••• A••• CAPITAL MANAGEMENT LLC | held · 2 pieces | $61.9M | $61.3M 99c | 550 bp | Sep 30, 2024 to Jun 30, 2026 |
| O•••••• S•••••••• C••••• F••• OAKTREE FUND ADVISORS, LLC | held · 2 pieces | $60.7M | $59.6M 100c | 550 bp | Sep 30, 2024 to Jun 30, 2026 |
| D••••••• C••••• C• DIAMETER PRINCIPAL FINANCE LLC | held | $43.5M | $42.7M 100c | 550 bp | Sep 30, 2024 to Jun 30, 2026 |
| A••• S•••••••• I••••• F••• A••• CAPITAL MANAGEMENT LLC | held · 2 pieces | $29.7M | $29.4M 100c | 550 bp | Sep 30, 2024 to Jun 30, 2026 |
| O•••••• S•••••••• L•••••• C••• OAKTREE FUND ADVISORS, LLC | held · 2 pieces | $28.8M | $28.2M 100c | 550 bp | Sep 30, 2024 to Jun 30, 2026 |
| N•• M••••••• G••••••• I• B••• L••••• NEW MOUNTAIN FINANCE ADVISERS, L.L.C. | held · 4 pieces | $17.3M | $15.9M 100c | 500 bp | Sep 30, 2024 to Jun 30, 2026 |
| P•••••• S••••• B•• L•• G•••••• S•••• Asset Management, L.P | held · 3 pieces | $15.4M | $14.1M 101c | 550 bp | Jun 30, 2025 to Jun 30, 2026 |
| N•• S•• I• I••• NEW MOUNTAIN FINANCE ADVISERS, L.L.C. | held · 4 pieces | $10.4M | $10.3M 100c | 500 bp | Sep 30, 2024 to Jun 30, 2026 |
| G•••••• S•••• B••• I••• G•••••• S•••• Asset Management, L.P | held · 3 pieces | $10.3M | $9.4M 101c | 550 bp | Jun 30, 2025 to Jun 30, 2026 |
| N•• M••••••• F•••••• C••• NEW MOUNTAIN FINANCE ADVISERS, L.L.C. | held · 4 pieces | $7.4M | $6.8M 100c | 500 bp | Sep 30, 2024 to Jun 30, 2026 |
| N•• M••••••• G••••••• I• I••••• F•••• L••••• NEW MOUNTAIN FINANCE ADVISERS, L.L.C. | held · 4 pieces | $4.0M | $3.7M 100c | 500 bp | Sep 30, 2024 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 | 14 | $575M | 100c | 500 bp | 2.75% | Aug 22, 2031 |
| Mar 31, 2026 | 14 | $557M | 100c | 500 bp | 2.75% | Aug 22, 2031 |
| Dec 31, 2025 | 14 | $692M | 101c | 500 bp | 2.75% | Aug 22, 2031 |
| Sep 30, 2025 | 14 | $550M | 101c | 500 bp | 2.75% | Aug 22, 2031 |
| Jun 30, 2025 | 15 | $557M | 101c | 550 bp | 2.75% | Aug 22, 2031 |
| Mar 31, 2025 | 11 | $413M | 100c | 550 bp | 2.75% | Aug 22, 2031 |
| Dec 31, 2024 | 11 | $452M | 100c | 500 bp | 2.75% | Aug 22, 2031 |
| Sep 30, 2024 | 11 | $409M | 100c | 500 bp | Aug 22, 2031 |
What changed on this facility
position and facility grain, including routine
- New lender joined a facility Jun 30, 2025G•••••• S•••• P•••••• C••••• C•••• joins L•••••• H••••••••• H•••••• C••••••• L•• term loan (first lien) held by 14 other BDCs
- New lender joined a facility Jun 30, 2025P•••••• S••••• B•• L•• joins L•••••• H••••••••• H•••••• C••••••• L•• term loan (first lien) held by 14 other BDCs
- New lender joined a facility Jun 30, 2025G•••••• S•••• M••••• M••••• L•••••• C•••• I• joins L•••••• H••••••••• H•••••• C••••••• L•• term loan (first lien) held by 14 other BDCs
- New lender joined a facility Jun 30, 2025G•••••• S•••• B••• I••• joins L•••••• H••••••••• H•••••• C••••••• L•• term loan (first lien) held by 14 other BDCs
- Spread changed (observed) Mar 31, 2025L•••••• H••••••••• H•••••• C••••••• L•• term loan: spread moved from 2.75% to 5.50%
- PIK interest appears Dec 31, 2024L•••••• H••••••••• H•••••• C••••••• L•• term loan: PIK interest of 2.75% appears (was cash pay)
- Spread changed (observed) Dec 31, 2024L•••••• H••••••••• H•••••• C••••••• L•• term loan: spread moved from 5.00% to 2.75%
Other pieces of this borrower's structure
- at least $137M
- at least $13.1M
- at least $11.9M
- revolverexited Sep 30, 2024unknown
- delayed draw term loanexited Sep 30, 2024unknown
- $9.0M
How this facility is known
- Grain
- L•••••• H••••••••• H•••••• C••••••• 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