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
X••••• C••••••••• first lien term loan
first lienheld todayIT Services
Principal held
at least $120M
sum of BDC pieces, a lower bound
Fair value
$130M
94c on cost
Unfunded
n/a
pieces' unfunded commitments
Pricing
SOFR+625 bp
pieces from 625 bp to 635 bp
PIK
none stated
Maturity
Jul 31, 2027
tagged by the filer
Lenders
7 holding
1 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 |
|---|---|---|---|---|---|
| S••••• C•••••• H••••••• L•• G•••••• S•••• Asset Management, L.P | exited · 2 pieces | $43.4M | $40.7M 100c | 725 bp | Dec 31, 2022 to Jun 30, 2024 |
| G•••••• S•••• B••• I••• G•••••• S•••• Asset Management, L.P | held · 2 pieces | $65.9M | $56.1M 91c | 625 bp | Dec 31, 2022 to Jun 30, 2026 |
| N•• M••••••• F•••••• C••• NEW MOUNTAIN FINANCE ADVISERS, L.L.C. | held · 2 pieces | $23.5M | $21.2M 94c | 625 bp | Dec 31, 2021 to Jun 30, 2026 |
| B•••••••• T•• C•••••• C•••• TENNENBAUM CAPITAL PARTNERS, LLC | held | $14.7M | $13.7M 95c | 635 bp | Dec 31, 2022 to Jun 30, 2026 |
| N•• M••••••• G••••••• I• B••• L••••• NEW MOUNTAIN FINANCE ADVISERS, L.L.C. | held · 2 pieces | $13.3M | $12.1M 94c | 625 bp | Mar 31, 2023 to Jun 30, 2026 |
| N•• M••••••• G••••••• I• I••••• F•••• L••••• NEW MOUNTAIN FINANCE ADVISERS, L.L.C. | held · 2 pieces | $1.9M | $1.7M 94c | 625 bp | Sep 30, 2024 to Jun 30, 2026 |
| N•• S•• I• I••• NEW MOUNTAIN FINANCE ADVISERS, L.L.C. | held | $551,000 | $31,000 775c | Dec 31, 2022 to Jun 30, 2026 | |
| 2•••••• B••• I••• 26NORTH DIRECT LENDING | held | n/a | $24.8M 99c | 625 bp | Sep 30, 2024 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 | 7 | $120M | 94c | 625 bp | Jul 31, 2027 | |
| Mar 31, 2026 | 7 | $120M | 97c | 625 bp | Jul 31, 2027 | |
| Dec 31, 2025 | 7 | $121M | 99c | 625 bp | Jul 31, 2027 | |
| Sep 30, 2025 | 7 | $129M | 100c | 625 bp | Jul 31, 2027 | |
| Jun 30, 2025 | 7 | $125M | 100c | 625 bp | Jul 31, 2027 | |
| Mar 31, 2025 | 7 | $129M | 100c | 625 bp | Jul 31, 2027 | |
| Dec 31, 2024 | 7 | $169M | 100c | 625 bp | Jul 31, 2027 | |
| Sep 30, 2024 | 7 | $129M | 100c | 625 bp | Jul 31, 2027 | |
| Jun 30, 2024 | 6 | $164M | 100c | 725 bp | Jul 31, 2025 | |
| Mar 31, 2024 | 6 | $164M | 100c | 725 bp | Jul 31, 2025 | |
| Dec 31, 2023 | 6 | $260M | 100c | 725 bp | Jul 31, 2025 | |
| Sep 30, 2023 | 6 | $161M | 100c | 725 bp | Jul 31, 2025 | |
| Jun 30, 2023 | 6 | $164M | 101c | 725 bp | Jul 31, 2025 | |
| Mar 31, 2023 | 6 | $164M | 100c | 725 bp | Jul 31, 2025 | |
| Dec 31, 2022 | 5 | $164M | 100c | 725 bp | Jul 31, 2023 | |
| Sep 30, 2022 | 1 | $20.0M | 100c | 725 bp | Jul 31, 2023 | |
| Dec 31, 2021 | 1 | $20.0M | 100c | 725 bp | Jul 31, 2023 |
What changed on this facility
position and facility grain, including routine
- Maturity approaching Jul 31, 2027X••••• C••••••••• term loan (first lien) matures 2027-07-31 (inside 24 months; $119.9M held by 8 BDCs)
- Maturity approaching Jul 31, 2027X••••• C••••••••• term loan (first lien) matures 2027-07-31 (inside 18 months; $119.9M held by 8 BDCs)
- Maturity extended (observed) Sep 30, 2024X••••• C••••••••• term loan: maturity moved from 2025-07-31 to 2027-07-31
- Spread changed (observed) Sep 30, 2024X••••• C••••••••• term loan: spread moved from 7.25% to 6.25%
- New lender joined a facility Sep 30, 2024N•• M••••••• G••••••• I• I••••• F•••• L••••• joins X••••• C••••••••• term loan (first lien) held by 7 other BDCs
- New lender joined a facility Sep 30, 20242•••••• B••• I••• joins X••••• C••••••••• term loan (first lien) held by 7 other BDCs
- Lender left a facility Jun 30, 2024S••••• C•••••• H••••••• L•• no longer holds X••••• C••••••••• term loan after 2024-06-30; 7 BDC(s) still hold it
- Maturity extended (observed) Mar 31, 2023X••••• C••••••••• term loan: maturity moved from 2023-07-31 to 2025-07-31
- New lender joined a facility Mar 31, 2023N•• M••••••• G••••••• I• B••• L••••• joins X••••• C••••••••• term loan (first lien) held by 5 other BDCs
- New lender joined a facility Dec 31, 2022G•••••• S•••• B••• I••• joins X••••• C••••••••• term loan (first lien) held by 4 other BDCs
- New lender joined a facility Dec 31, 2022S••••• C•••••• H••••••• L•• joins X••••• C••••••••• term loan (first lien) held by 4 other BDCs
- New lender joined a facility Dec 31, 2022B•••••••• T•• C•••••• C•••• joins X••••• C••••••••• term loan (first lien) held by 4 other BDCs
Other pieces of this borrower's structure
- unknown
How this facility is known
- Grain
- X••••• C••••••••• 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