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
Navigator Acquiror, Inc delayed draw term loan
lien unstatedheld today
Principal held
at least $840M
sum of BDC pieces, a lower bound
Fair value
$638M
76c on cost
Unfunded
$48.3M
pieces' unfunded commitments
Pricing
S+550 bp
modal across pieces
PIK
4.00%
paid in kind, the highest piece
Maturity
Jul 16, 2030
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Lenders
2 holding
0 exited · 0 named on a deal
On the tape
15 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 |
|---|---|---|---|---|---|
| Blackstone Private Credit Fund BLACKSTONE PRIVATE CREDIT STRATEGIES LLC | held · 6 pieces | $570M | $433M 76c | 550 bp | Dec 31, 2022 to Jun 30, 2026 |
| Blackstone Secured Lending Fund BLACKSTONE PRIVATE CREDIT STRATEGIES LLC | held · 3 pieces | $270M | $205M 76c | 550 bp | Dec 31, 2022 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 | 2 | $840M | 76c | 550 bp | 4.00% | Jul 16, 2030 |
| Mar 31, 2026 | 2 | $833M | 80c | 550 bp | 4.00% | Jul 16, 2030 |
| Dec 31, 2025 | 2 | $827M | 85c | 550 bp | 4.00% | Jul 16, 2030 |
| Sep 30, 2025 | 2 | $820M | 89c | 550 bp | 4.00% | Jul 16, 2030 |
| Jun 30, 2025 | 2 | $814M | 89c | 550 bp | 4.00% | Jul 16, 2030 |
| Mar 31, 2025 | 2 | $807M | 89c | 550 bp | 4.00% | Jul 16, 2030 |
| Dec 31, 2024 | 2 | $1.6B | 87c | 550 bp | Jul 16, 2027 | |
| Sep 30, 2024 | 2 | $770M | 88c | 550 bp | Jul 16, 2027 | |
| Jun 30, 2024 | 2 | $758M | 91c | 550 bp | Jul 16, 2027 | |
| Mar 31, 2024 | 2 | $759M | 93c | 550 bp | Jul 16, 2027 | |
| Dec 31, 2023 | 2 | $1.2B | 93c | 550 bp | Jul 16, 2027 | |
| Sep 30, 2023 | 2 | $711M | 98c | 575 bp | 5.72% | Jul 16, 2027 |
| Jun 30, 2023 | 2 | $679M | 98c | 575 bp | 5.59% | Jul 16, 2027 |
| Mar 31, 2023 | 2 | $652M | 100c | 575 bp | 5.33% | Jul 16, 2027 |
| Dec 31, 2022 | 2 | n/a | n/a |
What changed on this facility
position and facility grain, including routine
- Marked down across lenders Mar 31, 2026Navigator Acquiror, Inc delayed draw: marked from 85 to 80 cents on cost across 2 lender(s)
- Maturity extended (observed) Mar 31, 2025Navigator Acquiror, Inc delayed draw: maturity moved from 2027-07-16 to 2030-07-16
- PIK interest appears Mar 31, 2025Navigator Acquiror, Inc delayed draw: PIK interest of 4.00% appears (was cash pay)
- PIK interest appears Mar 31, 2023Navigator Acquiror, Inc delayed draw: PIK interest of 5.33% appears (was cash pay)
Other pieces of this borrower's structure
- otherexited Dec 31, 2022at least $634M
How this facility is known
- Grain
- Navigator Acquiror, Inc x delayed draw 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