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
B•••••••• I••••••••• D••••••••• I•• first lien term loan
first lienheld todayDistributors
Principal held
at least $64.6M
sum of BDC pieces, a lower bound
Fair value
$62.3M
97c on cost
Unfunded
n/a
pieces' unfunded commitments
Pricing
SOFR+585 bp
pieces from 540 bp to 585 bp
PIK
0.50%
paid in kind, the highest piece
Maturity
May 30, 2027
tagged by the filer
Lenders
4 holding
0 exited · 0 named on a deal
On the tape
15 quarters
Sep 30, 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 |
|---|---|---|---|---|---|
| P••••••••• I••••••••• C••• P••••••••• INVESTMENT ADVISERS, LLC | held · 2 pieces | $26.4M | $26.0M 99c | 585 bp | Sep 30, 2022 to Jun 30, 2026 |
| P••••••••• F••••••• R••• C•••••• L••• P••••••••• INVESTMENT ADVISERS, LLC | held · 2 pieces | $22.8M | $22.5M 99c | 585 bp | Sep 30, 2022 to Jun 30, 2026 |
| A•••••• S•••••••• C••••• F••• ANTARES CAPITAL CREDIT ADVISERS LLC | held · 5 pieces | $10.1M | $9.1M 90c | 575 bp | Mar 31, 2024 to Jun 30, 2026 |
| A•••••• P•••••• C••••• F••• ANTARES CAPITAL CREDIT ADVISERS LLC | held | $5.3M | $4.8M 90c | 575 bp | Dec 31, 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 | 4 | $64.6M | 97c | 575 bp | 0.50% | May 30, 2027 |
| Mar 31, 2026 | 4 | $64.5M | 95c | 540 bp | Sep 17, 2026 | |
| Dec 31, 2025 | 4 | $66.7M | 109c | 525 bp | Sep 17, 2026 | |
| Sep 30, 2025 | 4 | $87.8M | 99c | 540 bp | Sep 17, 2026 | |
| Jun 30, 2025 | 4 | $61.2M | 100c | 540 bp | Sep 17, 2026 | |
| Mar 31, 2025 | 4 | $73.7M | 88c | 540 bp | Sep 17, 2026 | |
| Dec 31, 2024 | 4 | $72.9M | 99c | 525 bp | Sep 17, 2026 | |
| Sep 30, 2024 | 3 | $175M | 99c | 640 bp | Sep 17, 2026 | |
| Jun 30, 2024 | 3 | $53.1M | 100c | 625 bp | 2.00% | Sep 17, 2026 |
| Mar 31, 2024 | 3 | $53.4M | 100c | 625 bp | Sep 17, 2026 | |
| Dec 31, 2023 | 2 | $53.1M | 100c | 640 bp | Sep 17, 2026 | |
| Sep 30, 2023 | 2 | $101M | 100c | 640 bp | Sep 17, 2026 | |
| Jun 30, 2023 | 2 | $44.2M | 98c | 500 bp | Sep 17, 2026 | |
| Mar 31, 2023 | 2 | $44.2M | 98c | 500 bp | Sep 17, 2024 | |
| Sep 30, 2022 | 2 | $62.5M | 99c | 500 bp | Sep 17, 2024 |
What changed on this facility
position and facility grain, including routine
- Maturity approaching May 30, 2027B•••••••• I••••••••• D••••••••• I•• term loan (first lien) matures 2027-05-30 (inside 24 months; $56.5M held by 4 BDCs)
- Maturity approaching May 30, 2027B•••••••• I••••••••• D••••••••• I•• term loan (first lien) matures 2027-05-30 (inside 12 months; $56.5M held by 4 BDCs)
- Maturity approaching May 30, 2027B•••••••• I••••••••• D••••••••• I•• term loan (first lien) matures 2027-05-30 (inside 18 months; $56.5M held by 4 BDCs)
- Spread changed (observed) Jun 30, 2026B•••••••• I••••••••• D••••••••• I•• term loan: spread moved from 5.25% to 5.75%
- Maturity extended (observed) Jun 30, 2026B•••••••• I••••••••• D••••••••• I•• term loan: maturity moved from 2026-09-17 to 2027-05-30
- PIK interest appears Jun 30, 2026B•••••••• I••••••••• D••••••••• I•• term loan: PIK interest of 0.50% appears (was cash pay)
- Mark recovered Jun 30, 2025B•••••••• I••••••••• D••••••••• I•• term loan: marked from 81 to 100 cents on cost
- Marked down across lenders Mar 31, 2025B•••••••• I••••••••• D••••••••• I•• term loan: marked from 99 to 81 cents on cost across 4 lender(s)
- Spread changed (observed) Dec 31, 2024B•••••••• I••••••••• D••••••••• I•• term loan: spread moved from 6.40% to 5.25%
- PIK interest appears Jun 30, 2024B•••••••• I••••••••• D••••••••• I•• term loan: PIK interest of 2.00% appears (was cash pay)
- Spread changed (observed) Sep 30, 2023B•••••••• I••••••••• D••••••••• I•• term loan: spread moved from 5.00% to 6.40%
- Spread changed (observed) Jun 30, 2023B•••••••• I••••••••• D••••••••• I•• term loan: spread moved from 5.00% to 6.25%
- Maturity extended (observed) Jun 30, 2023B•••••••• I••••••••• D••••••••• I•• term loan: maturity moved from 2024-09-17 to 2026-09-17
Other pieces of this borrower's structure
- at least $13.3M
- at least $114,000
- delayed draw term loanexited Dec 31, 2024unknown
- revolverexited Dec 31, 2024unknown
How this facility is known
- Grain
- B•••••••• I••••••••• D••••••••• I•• 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