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
W••••• E••••••••• G••••• L•• first lien delayed draw term loan
first lienheld todayFinancial Services
Principal held
at least $114M
sum of BDC pieces, a lower bound
Fair value
$94.0M
100c on cost
Unfunded
$20.0M
pieces' unfunded commitments
Pricing
SOFR+425 bp
pieces from 50 bp to 450 bp
PIK
none stated
Maturity
Oct 4, 2028
tagged by the filer
Lenders
7 holding
2 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 |
|---|---|---|---|---|---|
| B•••••••• C•••••• I••••••••• C••• BLACKROCK CAPITAL INVESTMENT ADVISORS, LLC | dormant | $6.2M | $6.1M 99c | 575 bp | Dec 31, 2022 to Dec 31, 2023 |
| B•••••••• T•• C•••••• C•••• TENNENBAUM CAPITAL PARTNERS, LLC | exited | $7.7M | $7.7M 103c | 550 bp | Dec 31, 2022 to Sep 30, 2024 |
| B•••••••• D••••• L•••••• C•••• BLACKROCK CAPITAL INVESTMENT ADVISORS, LLC | exited | $2.9M | $2.9M 99c | 550 bp | Dec 31, 2022 to Sep 30, 2024 |
| A•••••• S•••••••• C••••• F••• ANTARES CAPITAL CREDIT ADVISERS LLC | held · 6 pieces | $43.3M | $27.5M 100c | 450 bp | Mar 31, 2024 to Jun 30, 2026 |
| B•••••••• P•••••• C••••• F••• BLACKROCK CAPITAL INVESTMENT ADVISORS, LLC | held · 5 pieces | $24.2M | $24.1M 100c | 425 bp | Mar 31, 2024 to Jun 30, 2026 |
| S•••••••• P•••••• C••••• F••• L•• STEPSTONE GROUP PRIVATE DEBT LLC | held · 8 pieces | $19.3M | $19.2M 100c | 425 bp | Sep 30, 2023 to Jun 30, 2026 |
| A•••••• P•••••• C••••• F••• ANTARES CAPITAL CREDIT ADVISERS LLC | held · 5 pieces | $12.3M | $8.4M 100c | 450 bp | Dec 31, 2024 to Jun 30, 2026 |
| A• P•••••• C••••• I•••••••• C••• AB PRIVATE CREDIT INVESTORS LLC | held · 5 pieces | $10.8M | $10.8M 100c | 425 bp | Dec 31, 2022 to Jun 30, 2026 |
| A•••••• S•••••••• C••••• F••• I• L•• ANTARES CAPITAL CREDIT ADVISERS LLC | held · 2 pieces | $3.9M | $3.3M 100c | 425 bp | Sep 30, 2025 to Jun 30, 2026 |
| A• P•••••• L•••••• F••• AB PRIVATE CREDIT INVESTORS LLC | held · 3 pieces | $738,868 | $738,868 100c | 425 bp | Jun 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 | $114M | 100c | 425 bp | Oct 4, 2028 | |
| Mar 31, 2026 | 7 | $105M | 100c | 425 bp | Oct 4, 2028 | |
| Dec 31, 2025 | 7 | $123M | 100c | 450 bp | Oct 4, 2028 | |
| Sep 30, 2025 | 7 | $97.4M | 99c | 450 bp | Oct 4, 2028 | |
| Jun 30, 2025 | 6 | $81.3M | 100c | 500 bp | Oct 4, 2028 | |
| Mar 31, 2025 | 5 | $72.5M | 99c | 500 bp | Oct 4, 2028 | |
| Dec 31, 2024 | 6 | $127M | 99c | 500 bp | Oct 4, 2028 | |
| Sep 30, 2024 | 7 | $31.8M | 101c | 550 bp | Oct 4, 2028 | |
| Jun 30, 2024 | 6 | $23.6M | 101c | 550 bp | Oct 4, 2028 | |
| Mar 31, 2024 | 6 | $27.5M | 101c | 550 bp | Oct 4, 2028 | |
| Dec 31, 2023 | 5 | $36.2M | 100c | 575 bp | Oct 4, 2027 | |
| Sep 30, 2023 | 5 | $18.6M | 99c | 625 bp | Oct 4, 2027 | |
| Jun 30, 2023 | 3 | $7.6M | 134c | 625 bp | Oct 4, 2027 | |
| Mar 31, 2023 | 3 | $6.6M | 134c | 625 bp | Oct 4, 2027 | |
| Dec 31, 2022 | 4 | $25.9M | 97c | 600 bp | Oct 4, 2027 |
What changed on this facility
position and facility grain, including routine
- Spread changed (observed) Sep 30, 2025W••••• E••••••••• G••••• L•• delayed draw: spread moved from 5.00% to 4.50%
- Lender left a facility Sep 30, 2024B•••••••• T•• C•••••• C•••• no longer holds W••••• E••••••••• G••••• L•• delayed draw after 2024-09-30; 7 BDC(s) still hold it
- Lender left a facility Sep 30, 2024B•••••••• D••••• L•••••• C•••• no longer holds W••••• E••••••••• G••••• L•• delayed draw after 2024-09-30; 7 BDC(s) still hold it
- New lender joined a facility Mar 31, 2024B•••••••• P•••••• C••••• F••• joins W••••• E••••••••• G••••• L•• delayed draw (first lien) held by 9 other BDCs
- Maturity extended (observed) Mar 31, 2024W••••• E••••••••• G••••• L•• delayed draw: maturity moved from 2027-10-04 to 2028-10-04
Other pieces of this borrower's structure
- at least $223M
- at least $38.1M
- at least $13.3M
- at least $10.0M
- at least $1.5M
- revolverexited Sep 30, 2025unknown
How this facility is known
- Grain
- W••••• E••••••••• G••••• L•• 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