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
C••••••• O••••••••• P••••••• C••• first lien delayed draw term loan
Principal held
at least $435,000
sum of BDC pieces, a lower bound
Fair value
$11,000
4c on cost
Unfunded
n/a
pieces' unfunded commitments
Pricing
S+900 bp
modal across pieces
PIK
9.00%
paid in kind, the highest piece
Maturity
Dec 31, 2026
html_schedule
Lenders
1 holding
0 exited · 0 named on a deal
On the tape
13 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 |
|---|---|---|---|---|---|
| A• T••• B•••• B••• I••• AG TWIN BROOK MANAGER, LLC | dormant · 2 pieces | $306,000 | $198,000 91c | 700 bp | Dec 31, 2022 to Mar 31, 2023 |
| T•• T••• B•••• C•••••• I••••• F••• AGTB FUND MANAGER, LLC | held · 3 pieces | $435,000 | $11,000 4c | 900 bp | Sep 30, 2023 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 | 1 | $435,000 | 4c | 900 bp | 9.00% | Dec 31, 2026 |
| Mar 31, 2026 | 1 | $448,000 | 11c | 900 bp | 9.00% | Dec 31, 2026 |
| Dec 31, 2025 | 1 | $814,000 | 27c | 900 bp | 9.00% | Dec 31, 2026 |
| Sep 30, 2025 | 1 | $425,000 | 31c | 700 bp | 7.00% | Dec 31, 2026 |
| Jun 30, 2025 | 1 | $415,000 | 46c | 700 bp | Dec 31, 2026 | |
| Mar 31, 2025 | 1 | $404,000 | 44c | 700 bp | Dec 31, 2026 | |
| Dec 31, 2024 | 1 | $395,000 | 59c | 700 bp | Mar 19, 2026 | |
| Sep 30, 2024 | 1 | $385,000 | 64c | 700 bp | Mar 19, 2026 | |
| Jun 30, 2024 | 1 | $354,000 | 74c | 1500 bp | Mar 19, 2026 | |
| Mar 31, 2024 | 1 | $323,000 | 78c | 900 bp | Mar 19, 2026 | |
| Sep 30, 2023 | 1 | $317,000 | 97c | 700 bp | Mar 19, 2026 | |
| Mar 31, 2023 | 1 | $306,000 | 91c | 700 bp | ||
| Dec 31, 2022 | 1 | $498,000 | 91c | 700 bp |
What changed on this facility
position and facility grain, including routine
- Maturity approaching Dec 31, 2026C••••••• O••••••••• P••••••• C••• delayed draw (first lien) matures 2026-12-31 (inside 24 months; $.4M held by 2 BDCs)
- Maturity approaching Dec 31, 2026C••••••• O••••••••• P••••••• C••• delayed draw (first lien) matures 2026-12-31 (inside 18 months; $.4M held by 2 BDCs)
- Maturity approaching Dec 31, 2026C••••••• O••••••••• P••••••• C••• delayed draw (first lien) matures 2026-12-31 (inside 12 months; $.4M held by 2 BDCs)
- Marked down across lenders Jun 30, 2026C••••••• O••••••••• P••••••• C••• delayed draw: marked from 11 to 4 cents on cost across 1 lender(s)
- Spread changed (observed) Jun 30, 2026C••••••• O••••••••• P••••••• C••• delayed draw: spread moved from 17.00% to 9.00%
- Marked down across lenders Mar 31, 2026C••••••• O••••••••• P••••••• C••• delayed draw: marked from 27 to 11 cents on cost across 1 lender(s)
- Spread changed (observed) Mar 31, 2026C••••••• O••••••••• P••••••• C••• delayed draw: spread moved from 17.00% to 9.00%
- Spread changed (observed) Dec 31, 2025C••••••• O••••••••• P••••••• C••• delayed draw: spread moved from 7.00% to 9.00%
- PIK interest increased Dec 31, 2025C••••••• O••••••••• P••••••• C••• delayed draw: PIK interest rose from 7.00% to 9.00%
- PIK interest appears Sep 30, 2025C••••••• O••••••••• P••••••• C••• delayed draw: PIK interest of 7.00% appears (was cash pay)
- Marked down across lenders Sep 30, 2025C••••••• O••••••••• P••••••• C••• delayed draw: marked from 46 to 31 cents on cost across 1 lender(s)
- Marked down across lenders Mar 31, 2025C••••••• O••••••••• P••••••• C••• delayed draw: marked from 59 to 44 cents on cost across 1 lender(s)
- Spread changed (observed) Mar 31, 2025C••••••• O••••••••• P••••••• C••• delayed draw: spread moved from 15.00% to 7.00%
- Maturity extended (observed) Mar 31, 2025C••••••• O••••••••• P••••••• C••• delayed draw: maturity moved from 2026-03-19 to 2026-12-31
- Spread changed (observed) Dec 31, 2024C••••••• O••••••••• P••••••• C••• delayed draw: spread moved from 7.00% to 15.00%
- Marked down across lenders Dec 31, 2024C••••••• O••••••••• P••••••• C••• delayed draw: marked from 64 to 59 cents on cost across 1 lender(s)
- Marked down across lenders Sep 30, 2024C••••••• O••••••••• P••••••• C••• delayed draw: marked from 74 to 64 cents on cost across 1 lender(s)
- Spread changed (observed) Sep 30, 2024C••••••• O••••••••• P••••••• C••• delayed draw: spread moved from 9.00% to 7.00%
- Spread changed (observed) Jun 30, 2024C••••••• O••••••••• P••••••• C••• delayed draw: spread moved from 9.00% to 15.00%
- Marked down across lenders Mar 31, 2024C••••••• O••••••••• P••••••• C••• delayed draw: marked from 97 to 78 cents on cost across 1 lender(s)
- Spread changed (observed) Mar 31, 2024C••••••• O••••••••• P••••••• C••• delayed draw: spread moved from 7.00% to 9.00%
- Mark recovered Sep 30, 2023C••••••• O••••••••• P••••••• C••• delayed draw: marked from 91 to 97 cents on cost
Other pieces of this borrower's structure
- at least $10.2M
- at least $547,000
- unknown
- $0
- $0
- n/a
How this facility is known
- Grain
- C••••••• O••••••••• P••••••• C••• x first lien 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