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
I••••• S•••••••• I•• first lien term loan
first lienheld todayS•••••••
Principal held
at least $7.1M
sum of BDC pieces, a lower bound
Fair value
$2.6M
38c on cost
Unfunded
n/a
pieces' unfunded commitments
Pricing
SOFR+725 bp
pieces from 475 bp to 725 bp
PIK
none stated
Maturity
Jun 1, 2029
tagged by the filer
Lenders
2 holding
6 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 |
|---|---|---|---|---|---|
| B••• O•• T••••••••• I••••• C•••• BLUE OWL TECHNOLOGY CREDIT ADVISORS II LLC | exited · 2 pieces | $25.7M | $17.6M 72c | 425 bp | Dec 31, 2023 to Dec 31, 2024 |
| B••• O•• C••••• I••••• C•••• BLUE OWL CREDIT ADVISORS LLC | exited · 2 pieces | $25.7M | $17.6M 73c | 425 bp | Dec 31, 2023 to Dec 31, 2024 |
| P••••• S••••• C•••••• B•• I••• PALMER SQUARE BDC ADVISOR LLC | exited · 2 pieces | $12.3M | $10.7M 88c | 575 bp | Dec 31, 2023 to Dec 31, 2025 |
| O•• C•••••• C••• OFS Advisor | exited · 2 pieces | $5.8M | $4.0M 69c | 425 bp | Dec 31, 2021 to Dec 31, 2024 |
| B•••••• B••• I••• BARINGS LLC | exited | $913,000 | $937,000 108c | 575 bp | Jun 30, 2025 to Sep 30, 2025 |
| M••••• C•••••• I••••• P••• C••• MC Advisors | exited | $0 | $0 | 575 bp | Dec 31, 2024 to Dec 31, 2025 |
| B• P••••••• L•••••• C••• BC PARTNERS ADVISORS L.P. | held · 3 pieces | $5.4M | $1.5M 28c | 725 bp | Dec 31, 2022 to Jun 30, 2026 |
| B•• I••••••••• C••• SIERRA CREST INVESTMENT MANAGEMENT LLC | held · 2 pieces | $1.7M | $1.1M 70c | 575 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 | 2 | $7.1M | 38c | 575 bp | Jun 1, 2029 | |
| Mar 31, 2026 | 2 | $7.1M | 57c | 475 bp | Jun 1, 2029 | |
| Dec 31, 2025 | 4 | $26.5M | 76c | 575 bp | Jun 1, 2029 | |
| Sep 30, 2025 | 5 | $22.8M | 84c | 575 bp | Jun 1, 2029 | |
| Jun 30, 2025 | 5 | $36.3M | 84c | 575 bp | Jun 1, 2029 | |
| Mar 31, 2025 | 4 | $34.7M | 77c | 425 bp | Jun 1, 2029 | |
| Dec 31, 2024 | 7 | $122M | 78c | 425 bp | Dec 1, 2028 | |
| Sep 30, 2024 | 6 | $44.4M | 87c | 425 bp | Dec 1, 2028 | |
| Jun 30, 2024 | 5 | $34.7M | 82c | 425 bp | Dec 1, 2028 | |
| Mar 31, 2024 | 4 | $33.8M | 98c | 425 bp | Dec 1, 2028 | |
| Dec 31, 2023 | 6 | $42.7M | 99c | 425 bp | Dec 1, 2028 | |
| Sep 30, 2023 | 2 | $7.9M | 82c | 425 bp | Dec 1, 2028 | |
| Jun 30, 2023 | 2 | $7.9M | 78c | 425 bp | Dec 1, 2028 | |
| Mar 31, 2023 | 2 | $3.0M | 82c | 425 bp | Dec 1, 2028 | |
| Dec 31, 2022 | 2 | $9.9M | 72c | 425 bp | Dec 1, 2028 | |
| Sep 30, 2022 | 1 | $3.0M | 78c | 425 bp | ||
| Dec 31, 2021 | 1 | $6.0M | 100c | 425 bp |
What changed on this facility
position and facility grain, including routine
- Marked down across lenders Jun 30, 2026I••••• S•••••••• I•• term loan: marked from 47 to 28 cents on cost across 1 lender(s)
- Spread changed (observed) Jun 30, 2026I••••• S•••••••• I•• term loan: spread moved from 7.25% to 4.75%
- Spread changed (observed) Mar 31, 2026I••••• S•••••••• I•• term loan: spread moved from 5.75% to 4.75%
- Marked down across lenders Mar 31, 2026I••••• S•••••••• I•• term loan: marked from 73 to 47 cents on cost across 1 lender(s)
- Marked down across lenders Dec 31, 2025I••••• S•••••••• I•• term loan: marked from 83 to 73 cents on cost across 3 lender(s)
- Lender left a facility Dec 31, 2025P••••• S••••• C•••••• B•• I••• no longer holds I••••• S•••••••• I•• term loan after 2025-12-31; 1 BDC(s) still hold it
- Lender left a facility Dec 31, 2025M••••• C•••••• I••••• P••• C••• no longer holds I••••• S•••••••• I•• term loan after 2025-12-31; 1 BDC(s) still hold it
- Marked down across lenders Sep 30, 2025I••••• S•••••••• I•• term loan: marked from 88 to 83 cents on cost across 4 lender(s)
- Lender left a facility Sep 30, 2025B•••••• B••• I••• no longer holds I••••• S•••••••• I•• term loan after 2025-09-30; 1 BDC(s) still hold it
- Spread changed (observed) Jun 30, 2025I••••• S•••••••• I•• term loan: spread moved from 4.25% to 5.75%
- Mark recovered Jun 30, 2025I••••• S•••••••• I•• term loan: marked from 77 to 85 cents on cost
- New lender joined a facility Jun 30, 2025B•••••• B••• I••• joins I••••• S•••••••• I•• term loan (first lien) held by 6 other BDCs
- Maturity extended (observed) Mar 31, 2025I••••• S•••••••• I•• term loan: maturity moved from 2028-12-01 to 2029-06-01
- Marked down across lenders Dec 31, 2024I••••• S•••••••• I•• term loan: marked from 87 to 78 cents on cost across 6 lender(s)
- Lender left a facility Dec 31, 2024B••• O•• T••••••••• I••••• C•••• no longer holds I••••• S•••••••• I•• term loan after 2024-12-31; 1 BDC(s) still hold it
- Lender left a facility Dec 31, 2024B••• O•• C••••• I••••• C•••• no longer holds I••••• S•••••••• I•• term loan after 2024-12-31; 1 BDC(s) still hold it
- Lender left a facility Dec 31, 2024O•• C•••••• C••• no longer holds I••••• S•••••••• I•• term loan after 2024-12-31; 1 BDC(s) still hold it
- New lender joined a facility Dec 31, 2024M••••• C•••••• I••••• P••• C••• joins I••••• S•••••••• I•• term loan (first lien) held by 6 other BDCs
- Marked down across lenders Jun 30, 2024I••••• S•••••••• I•• term loan: marked from 98 to 82 cents on cost across 4 lender(s)
- Mark recovered Dec 31, 2023I••••• S•••••••• I•• term loan: marked from 82 to 98 cents on cost
- New lender joined a facility Dec 31, 2023B••• O•• T••••••••• I••••• C•••• joins I••••• S•••••••• I•• term loan (first lien) held by 6 other BDCs
- New lender joined a facility Dec 31, 2023B••• O•• C••••• I••••• C•••• joins I••••• S•••••••• I•• term loan (first lien) held by 6 other BDCs
- New lender joined a facility Dec 31, 2023B•• I••••••••• C••• joins I••••• S•••••••• I•• term loan (first lien) held by 7 other BDCs
- Spread changed (observed) Jun 30, 2023I••••• S•••••••• I•• term loan: spread moved from 7.25% to 4.25%
- Spread changed (observed) Mar 31, 2023I••••• S•••••••• I•• term loan: spread moved from 4.25% to 7.25%
- Mark recovered Mar 31, 2023I••••• S•••••••• I•• term loan: marked from 72 to 82 cents on cost
- Marked down across lenders Dec 31, 2022I••••• S•••••••• I•• term loan: marked from 78 to 72 cents on cost across 2 lender(s)
- Marked down across lenders Sep 30, 2022I••••• S•••••••• I•• term loan: marked from 100 to 78 cents on cost across 1 lender(s)
Other pieces of this borrower's structure
- at least $9.1M
- otherexited Jun 30, 2025at least $2.4M
- unsecured or subordinated term loanexited Mar 31, 2026at least $0
How this facility is known
- Grain
- I••••• 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
- Status
- unknownsignalnon-accrual, default and restructuring are not on this tape and are never inferred from a mark
- Origin
- bdc tapereported