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.
Facility
Serrano Parent, LLC first lien term loan
first lienheld todayIT Services
Principal held
at least $41.8M
sum of BDC pieces, a lower bound
Fair value
$94.7M
96c on cost
Unfunded
n/a
pieces' unfunded commitments
Pricing
SOFR+650 bp
pieces from 625 bp to 650 bp
PIK
none stated
Maturity
Oct 16, 2031
tagged by the filer
Lenders
6 holding
0 exited · 0 named on a deal
On the tape
13 quarters
Jun 30, 2023 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 |
|---|---|---|---|---|---|
| BlackRock Capital Investment Corp BLACKROCK CAPITAL INVESTMENT ADVISORS, LLC | dormant | $6.1M | $6.0M 102c | 650 bp | Jun 30, 2023 to Dec 31, 2023 |
| AB Private Credit Investors Corp AB PRIVATE CREDIT INVESTORS LLC | held | $21.3M | $19.8M 94c | 650 bp | Sep 30, 2023 to Jun 30, 2026 |
| BlackRock TCP Capital Corp. TENNENBAUM CAPITAL PARTNERS, LLC | held | $7.0M | $6.3M 94c | 650 bp | Jun 30, 2023 to Jun 30, 2026 |
| AB Private Lending Fund AB PRIVATE CREDIT INVESTORS LLC | held | $5.5M | $5.1M 94c | 650 bp | Jun 30, 2024 to Jun 30, 2026 |
| BlackRock Private Credit Fund BLACKROCK CAPITAL INVESTMENT ADVISORS, LLC | held | $4.1M | $3.7M 91c | 650 bp | Jun 30, 2023 to Jun 30, 2026 |
| BlackRock Direct Lending Corp. BLACKROCK CAPITAL INVESTMENT ADVISORS, LLC | held | $3.9M | $3.5M 91c | 650 bp | Jun 30, 2023 to Jun 30, 2026 |
| 26North BDC, Inc. 26NORTH DIRECT LENDING | held · 2 pieces | n/a | $56.3M 98c | 650 bp | Dec 31, 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 | 6 | $41.8M | 96c | 650 bp | Oct 16, 2031 | |
| Mar 31, 2026 | 6 | $41.8M | 95c | 650 bp | May 13, 2030 | |
| Dec 31, 2025 | 6 | $62.9M | 97c | 650 bp | May 13, 2030 | |
| Sep 30, 2025 | 6 | $41.7M | 99c | 650 bp | May 13, 2030 | |
| Jun 30, 2025 | 6 | $41.7M | 100c | 650 bp | May 13, 2030 | |
| Mar 31, 2025 | 6 | $41.7M | 100c | 650 bp | May 13, 2030 | |
| Dec 31, 2024 | 6 | $66.8M | 101c | 650 bp | May 13, 2030 | |
| Sep 30, 2024 | 6 | $41.7M | 100c | 650 bp | May 13, 2030 | |
| Jun 30, 2024 | 6 | $41.7M | 101c | 650 bp | May 13, 2030 | |
| Mar 31, 2024 | 5 | $36.2M | 101c | 650 bp | May 13, 2030 | |
| Dec 31, 2023 | 6 | $40.1M | 100c | 650 bp | May 13, 2030 | |
| Sep 30, 2023 | 5 | $36.2M | 101c | 650 bp | May 13, 2030 | |
| Jun 30, 2023 | 4 | $15.0M | 136c | 650 bp | May 13, 2030 |
What changed on this facility
position and facility grain, including routine
- Maturity extended (observed) Jun 30, 2026Serrano Parent, LLC term loan: maturity moved from 2030-05-13 to 2031-10-16
- New lender joined a facility Sep 30, 2023AB Private Credit Investors Corp joins Serrano Parent, LLC term loan (first lien) held by 6 other BDCs
Other pieces of this borrower's structure
- at least $728,854
- at least $260,755
How this facility is known
- Grain
- Serrano Parent, LLC 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