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
T•••••• M••••••• S••••••• I•• first lien term loan
Principal held
at least $34.8M
sum of BDC pieces, a lower bound
Fair value
$30.1M
87c on cost
Unfunded
n/a
pieces' unfunded commitments
Pricing
S+550 bp
pieces from 550 bp to 760 bp
PIK
2.00%
paid in kind, the highest piece
Maturity
Feb 26, 2027
html_schedule
Lenders
4 holding
0 exited · 0 named on a deal
On the tape
17 quarters
Dec 31, 2021 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 |
|---|---|---|---|---|---|
| M••••• C•••••• C••• MC Advisors | dormant | $1.5M | $1.5M 101c | 785 bp | Dec 31, 2021 to Dec 31, 2025 |
| B•••••• C•••••• I••••••••• C••• BARINGS LLC | held | $13.9M | $11.9M 86c | 550 bp | Dec 31, 2022 to Jun 30, 2026 |
| B•••••• B••• I••• BARINGS LLC | held | $12.2M | $10.5M 86c | 550 bp | Dec 31, 2021 to Jun 30, 2026 |
| B•••••• P•••••• C••••• C••• BARINGS LLC | held | $7.4M | $6.4M 86c | 550 bp | Dec 31, 2022 to Jun 30, 2026 |
| M••••• C•••••• I••••• P••• C••• MC Advisors | held | $1.3M | $1.2M 98c | 760 bp | Jun 30, 2026 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 | $34.8M | 87c | 550 bp | 2.00% | Feb 26, 2027 |
| Mar 31, 2026 | 3 | $39.1M | 87c | 550 bp | 2.00% | |
| Dec 31, 2025 | 4 | $57.2M | 88c | 100 bp | 6.80% | |
| Sep 30, 2025 | 3 | $42.4M | 85c | 100 bp | 6.80% | |
| Jun 30, 2025 | 3 | $42.0M | 88c | 550 bp | 2.00% | |
| Mar 31, 2025 | 3 | $41.9M | 92c | 550 bp | 2.00% | |
| Dec 31, 2024 | 3 | $66.1M | 95c | 550 bp | ||
| Sep 30, 2024 | 3 | $42.3M | 96c | 550 bp | ||
| Jun 30, 2024 | 3 | $42.7M | 96c | 550 bp | ||
| Mar 31, 2024 | 3 | $42.7M | 97c | 550 bp | ||
| Dec 31, 2023 | 3 | $42.8M | 99c | 550 bp | ||
| Sep 30, 2023 | 4 | $40.2M | 91c | 550 bp | Feb 26, 2027 | |
| Jun 30, 2023 | 4 | $40.3M | 99c | 550 bp | Feb 26, 2027 | |
| Mar 31, 2023 | 3 | $40.3M | 100c | 475 bp | ||
| Dec 31, 2022 | 4 | $43.7M | 108c | 475 bp | Feb 26, 2027 | |
| Sep 30, 2022 | 1 | $14.8M | 100c | 500 bp | ||
| Dec 31, 2021 | 2 | $17.4M | 118c | 550 bp | Feb 26, 2027 |
What changed on this facility
position and facility grain, including routine
- Maturity approaching Feb 26, 2027T•••••• M••••••• S••••••• I•• term loan (first lien) matures 2027-02-26 (inside 18 months; $34.8M held by 5 BDCs)
- Maturity approaching Feb 26, 2027T•••••• M••••••• S••••••• I•• term loan (first lien) matures 2027-02-26 (inside 24 months; $34.8M held by 5 BDCs)
- Maturity approaching Feb 26, 2027T•••••• M••••••• S••••••• I•• term loan (first lien) matures 2027-02-26 (inside 12 months; $34.8M held by 5 BDCs)
- New lender joined a facility Jun 30, 2026M••••• C•••••• I••••• P••• C••• joins T•••••• M••••••• S••••••• I•• term loan (first lien) held by 3 other BDCs
- Spread changed (observed) Mar 31, 2026T•••••• M••••••• S••••••• I•• term loan: spread moved from 1.00% to 5.50%
- PIK interest increased Sep 30, 2025T•••••• M••••••• S••••••• I•• term loan: PIK interest rose from 2.00% to 6.80%
- Spread changed (observed) Sep 30, 2025T•••••• M••••••• S••••••• I•• term loan: spread moved from 5.50% to 1.00%
- PIK interest appears Mar 31, 2025T•••••• M••••••• S••••••• I•• term loan: PIK interest of 2.00% appears (was cash pay)
- Mark recovered Dec 31, 2023T•••••• M••••••• S••••••• I•• term loan: marked from 91 to 99 cents on cost
- Marked down across lenders Sep 30, 2023T•••••• M••••••• S••••••• I•• term loan: marked from 99 to 91 cents on cost across 4 lender(s)
- Spread changed (observed) Jun 30, 2023T•••••• M••••••• S••••••• I•• term loan: spread moved from 4.75% to 5.50%
- New lender joined a facility Dec 31, 2022B•••••• C•••••• I••••••••• C••• joins T•••••• M••••••• S••••••• I•• term loan (first lien) held by 3 other BDCs
- New lender joined a facility Dec 31, 2022B•••••• P•••••• C••••• C••• joins T•••••• M••••••• S••••••• I•• term loan (first lien) held by 3 other BDCs
Other pieces of this borrower's structure
- at least $167,000
- unknown
How this facility is known
- Grain
- T•••••• M••••••• S••••••• 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
- 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