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
V•••• P••••••••• L•• first lien term loan
Principal held
at least $203M
sum of BDC pieces, a lower bound
Fair value
$195M
99c on cost
Unfunded
n/a
pieces' unfunded commitments
Pricing
SOFR+525 bp
pieces from 5 bp to 525 bp
PIK
none stated
Maturity
May 24, 2028
html_schedule
Lenders
13 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 |
|---|---|---|---|---|---|
| N•••• H•••• P•••••• I••••• F••• L•• MS CAPITAL PARTNERS ADVISER INC. | held · 3 pieces | $47.8M | $46.9M 99c | 525 bp | Dec 31, 2024 to Jun 30, 2026 |
| N•• M••••••• P•••••• C••••• F••• NEW MOUNTAIN FINANCE ADVISERS, L.L.C. | held · 3 pieces | $34.5M | $31.5M 100c | 525 bp | Jun 30, 2025 to Jun 30, 2026 |
| N•• M••••••• G••••••• I• B••• L••••• NEW MOUNTAIN FINANCE ADVISERS, L.L.C. | held · 3 pieces | $25.7M | $23.6M 100c | 525 bp | Jun 30, 2025 to Jun 30, 2026 |
| A• P•••••• C••••• I•••••••• C••• AB PRIVATE CREDIT INVESTORS LLC | held · 3 pieces | $23.3M | $23.0M 100c | 525 bp | Dec 31, 2022 to Jun 30, 2026 |
| M••••• S•••••• D••••• L•••••• F••• MS CAPITAL PARTNERS ADVISER INC. | held · 4 pieces | $22.5M | $22.1M 99c | 525 bp | Jun 30, 2024 to Jun 30, 2026 |
| T• S••••• B•• L•• MS CAPITAL PARTNERS ADVISER INC. | held · 3 pieces | $10.9M | $10.7M 99c | 525 bp | Dec 31, 2024 to Jun 30, 2026 |
| S• I••••••••• F••• I• L•• MS CAPITAL PARTNERS ADVISER INC. | held · 3 pieces | $9.8M | $9.6M 99c | 525 bp | Sep 30, 2025 to Jun 30, 2026 |
| N•• M••••••• F•••••• C••• NEW MOUNTAIN FINANCE ADVISERS, L.L.C. | held | $6.0M | $6.0M 100c | 525 bp | Jun 30, 2025 to Jun 30, 2026 |
| N•• S•• I• I••• NEW MOUNTAIN FINANCE ADVISERS, L.L.C. | held · 3 pieces | $6.0M | $6.0M 100c | 525 bp | Jun 30, 2025 to Jun 30, 2026 |
| N•••• H•••• P•••••• I••••• F••• A• L•• MS CAPITAL PARTNERS ADVISER INC. | held · 3 pieces | $5.3M | $5.2M 99c | 525 bp | Dec 31, 2024 to Jun 30, 2026 |
| L••• P•••••• C••••• L•• MS CAPITAL PARTNERS ADVISER INC. | held · 3 pieces | $4.9M | $4.8M 99c | 525 bp | Jun 30, 2024 to Jun 30, 2026 |
| A• P•••••• L•••••• F••• AB PRIVATE CREDIT INVESTORS LLC | held · 2 pieces | $4.7M | $4.7M 100c | 525 bp | Jun 30, 2024 to Jun 30, 2026 |
| N•• M••••••• G••••••• I• I••••• F•••• L••••• NEW MOUNTAIN FINANCE ADVISERS, L.L.C. | held | $954,000 | $950,000 100c | 525 bp | Jun 30, 2025 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 | 13 | $203M | 99c | 525 bp | May 24, 2028 | |
| Mar 31, 2026 | 13 | $213M | 99c | 550 bp | May 24, 2028 | |
| Dec 31, 2025 | 13 | $269M | 100c | 550 bp | May 24, 2028 | |
| Sep 30, 2025 | 13 | $138M | 101c | 500 bp | May 24, 2028 | |
| Jun 30, 2025 | 9 | $75.1M | 101c | 500 bp | May 24, 2028 | |
| Mar 31, 2025 | 4 | $31.1M | 101c | 525 bp | May 24, 2028 | |
| Dec 31, 2024 | 7 | $69.2M | 101c | 525 bp | 0.75% | May 24, 2028 |
| Sep 30, 2024 | 4 | $31.1M | 101c | 525 bp | May 24, 2028 | |
| Jun 30, 2024 | 4 | $31.2M | 100c | 525 bp | May 24, 2028 | |
| Mar 31, 2024 | 1 | $24.4M | 100c | 525 bp | May 24, 2028 | |
| Dec 31, 2023 | 1 | $22.3M | 99c | 500 bp | May 24, 2028 | |
| Sep 30, 2023 | 1 | $22.3M | 99c | 500 bp | May 24, 2028 | |
| Dec 31, 2022 | 1 | $44.6M | 100c | 500 bp | May 24, 2028 |
What changed on this facility
position and facility grain, including routine
- Maturity approaching May 24, 2028V•••• P••••••••• L•• term loan (first lien) matures 2028-05-24 (inside 24 months; $101.3M held by 9 BDCs)
- New lender joined a facility Sep 30, 2025S• I••••••••• F••• I• L•• joins V•••• P••••••••• L•• term loan (first lien) held by 12 other BDCs
- New lender joined a facility Jun 30, 2025N•• M••••••• P•••••• C••••• F••• joins V•••• P••••••••• L•• term loan (first lien) held by 11 other BDCs
- New lender joined a facility Jun 30, 2025N•• M••••••• G••••••• I• B••• L••••• joins V•••• P••••••••• L•• term loan (first lien) held by 11 other BDCs
- New lender joined a facility Jun 30, 2025N•• M••••••• F•••••• C••• joins V•••• P••••••••• L•• term loan (first lien) held by 11 other BDCs
- New lender joined a facility Jun 30, 2025N•• S•• I• I••• joins V•••• P••••••••• L•• term loan (first lien) held by 11 other BDCs
- New lender joined a facility Jun 30, 2025N•• M••••••• G••••••• I• I••••• F•••• L••••• joins V•••• P••••••••• L•• term loan (first lien) held by 11 other BDCs
- PIK interest appears Dec 31, 2024V•••• P••••••••• L•• term loan: PIK interest of 0.75% appears (was cash pay)
- New lender joined a facility Dec 31, 2024N•••• H•••• P•••••• I••••• F••• L•• joins V•••• P••••••••• L•• term loan (first lien) held by 6 other BDCs
- New lender joined a facility Dec 31, 2024T• S••••• B•• L•• joins V•••• P••••••••• L•• term loan (first lien) held by 6 other BDCs
- New lender joined a facility Dec 31, 2024N•••• H•••• P•••••• I••••• F••• A• L•• joins V•••• P••••••••• L•• term loan (first lien) held by 6 other BDCs
- New lender joined a facility Jun 30, 2024M••••• S•••••• D••••• L•••••• F••• joins V•••• P••••••••• L•• term loan (first lien) held by 3 other BDCs
- New lender joined a facility Jun 30, 2024L••• P•••••• C••••• L•• joins V•••• P••••••••• L•• term loan (first lien) held by 3 other BDCs
Other pieces of this borrower's structure
- at least $14.8M
- at least $0
- otherexited Jun 30, 2025at least $53.3M
- delayed draw term loanexited Jun 30, 2025unknown
- revolverexited Jun 30, 2025unknown
How this facility is known
- Grain
- V•••• P••••••••• 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
- Sponsor basis
- Form D signer consensus, grade Bestimated
- Status
- unknownsignalnon-accrual, default and restructuring are not on this tape and are never inferred from a mark
- Origin
- bdc tapereported