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••• H•••••• C••• first lien delayed draw term loan
first lienheld todayChemicals
Principal held
at least $6.0M
sum of BDC pieces, a lower bound
Fair value
$5.7M
96c on cost
Unfunded
n/a
pieces' unfunded commitments
Pricing
SOFR+600 bp
floor 0.75%
PIK
none stated
Maturity
Mar 31, 2028
tagged by the filer
Lenders
2 holding
5 exited · 0 named on a deal
On the tape
11 quarters
Dec 31, 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 |
|---|---|---|---|---|---|
| N•••• H•••• P•••••• I••••• F••• L•• MS CAPITAL PARTNERS ADVISER INC. | exited | n/a | n/a | Dec 31, 2023 to Dec 31, 2024 | |
| T• S••••• B•• L•• MS CAPITAL PARTNERS ADVISER INC. | exited | n/a | n/a | Dec 31, 2024 to Dec 31, 2024 | |
| M••••• S•••••• D••••• L•••••• F••• MS CAPITAL PARTNERS ADVISER INC. | exited | n/a | n/a | Dec 31, 2024 to Dec 31, 2024 | |
| N•••• H•••• P•••••• I••••• F••• A• L•• MS CAPITAL PARTNERS ADVISER INC. | exited | n/a | $0 | Dec 31, 2024 to Dec 31, 2024 | |
| L••• P•••••• C••••• L•• MS CAPITAL PARTNERS ADVISER INC. | exited | n/a | n/a | Dec 31, 2024 to Dec 31, 2024 | |
| S•••••••• P•••••• C••••• F••• L•• STEPSTONE GROUP PRIVATE DEBT LLC | held · 2 pieces | $5.1M | $4.9M 97c | 600 bp | Sep 30, 2024 to Jun 30, 2026 |
| P••••• S••••• C•••••• B•• I••• PALMER SQUARE BDC ADVISOR LLC | held | $880,793 | $815,834 93c | 600 bp | Dec 31, 2025 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 | $6.0M | 96c | 600 bp | Mar 31, 2028 | |
| Mar 31, 2026 | 2 | $5.8M | 100c | 600 bp | Mar 31, 2028 | |
| Dec 31, 2025 | 2 | $10.8M | 101c | 600 bp | Mar 31, 2028 | |
| Sep 30, 2025 | 1 | $5.0M | 102c | Mar 31, 2028 | ||
| Jun 30, 2025 | 1 | $5.0M | 102c | Mar 31, 2028 | ||
| Mar 31, 2025 | 1 | $5.0M | 102c | Mar 31, 2028 | ||
| Dec 31, 2024 | 6 | $8.5M | 102c | 610 bp | Mar 31, 2028 | |
| Sep 30, 2024 | 2 | $0 | n/a | 100 bp | Mar 31, 2028 | |
| Jun 30, 2024 | 1 | n/a | n/a | |||
| Mar 31, 2024 | 1 | n/a | n/a | |||
| Dec 31, 2023 | 1 | n/a | n/a |
What changed on this facility
position and facility grain, including routine
- Maturity approaching Mar 31, 2028T••• H•••••• C••• delayed draw (first lien) matures 2028-03-31 (inside 24 months; $.9M held by 3 BDCs)
- Marked down across lenders Jun 30, 2026T••• H•••••• C••• delayed draw: marked from 100 to 93 cents on cost across 1 lender(s)
- Mark recovered Mar 31, 2026T••• H•••••• C••• delayed draw: marked from 93 to 100 cents on cost
- New lender joined a facility Dec 31, 2025P••••• S••••• C•••••• B•• I••• joins T••• H•••••• C••• delayed draw (first lien) held by 1 other BDC
- Spread changed (observed) Dec 31, 2024T••• H•••••• C••• delayed draw: spread moved from 1.00% to 6.10%
- New lender joined a facility Dec 31, 2024L••• P•••••• C••••• L•• joins T••• H•••••• C••• delayed draw (first lien) held by 5 other BDCs
- New lender joined a facility Dec 31, 2024M••••• S•••••• D••••• L•••••• F••• joins T••• H•••••• C••• delayed draw (first lien) held by 5 other BDCs
- New lender joined a facility Dec 31, 2024T• S••••• B•• L•• joins T••• H•••••• C••• delayed draw (first lien) held by 5 other BDCs
- Lender left a facility Dec 31, 2024N•••• H•••• P•••••• I••••• F••• L•• no longer holds T••• H•••••• C••• delayed draw after 2024-12-31; 2 BDC(s) still hold it
- Lender left a facility Dec 31, 2024N•••• H•••• P•••••• I••••• F••• A• L•• no longer holds T••• H•••••• C••• delayed draw after 2024-12-31; 2 BDC(s) still hold it
- Lender left a facility Dec 31, 2024L••• P•••••• C••••• L•• no longer holds T••• H•••••• C••• delayed draw after 2024-12-31; 2 BDC(s) still hold it
- Lender left a facility Dec 31, 2024M••••• S•••••• D••••• L•••••• F••• no longer holds T••• H•••••• C••• delayed draw after 2024-12-31; 2 BDC(s) still hold it
- Lender left a facility Dec 31, 2024T• S••••• B•• L•• no longer holds T••• H•••••• C••• delayed draw after 2024-12-31; 2 BDC(s) still hold it
- New lender joined a facility Dec 31, 2024N•••• H•••• P•••••• I••••• F••• A• L•• joins T••• H•••••• C••• delayed draw (first lien) held by 5 other BDCs
- New lender joined a facility Sep 30, 2024S•••••••• P•••••• C••••• F••• L•• joins T••• H•••••• C••• delayed draw (first lien) held by 1 other BDC
Other pieces of this borrower's structure
- at least $250M
- at least $254,000
- at least $8,000
- unknown
- second lien term loanexited Dec 31, 2021at least $41.5M
- second lien delayed draw term loanexited Dec 31, 2024unknown
- delayed draw term loanexited Dec 31, 2025unknown
- otherexited Sep 30, 2025unknown
- $2.4M
- $2.4M
How this facility is known
- Grain
- T••• H•••••• C••• x first lien 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