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
B•••••• E••••••••• S••••••• H••••• L•••••• first lien term loan
first lienheld today
Principal held
at least $27.7M
sum of BDC pieces, a lower bound
Fair value
$24.9M
90c on cost
Unfunded
n/a
pieces' unfunded commitments
Pricing
S+280 bp
modal across pieces
PIK
5.00%
paid in kind, the highest piece
Maturity
unstated
Lenders
3 holding
0 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•••••• B••• I••• BARINGS LLC | held | $16.5M | $14.8M 89c | 280 bp | Dec 31, 2021 to Jun 30, 2026 |
| B•••••• P•••••• C••••• C••• BARINGS LLC | held | $8.6M | $7.8M 91c | 280 bp | Dec 31, 2022 to Jun 30, 2026 |
| B•••••• C•••••• I••••••••• C••• BARINGS LLC | held | $2.6M | $2.3M 90c | 280 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 | 3 | $27.7M | 90c | 280 bp | 5.00% | |
| Mar 31, 2026 | 3 | $27.5M | 87c | 280 bp | 5.00% | |
| Dec 31, 2025 | 3 | $29.9M | 87c | 400 bp | 3.80% | |
| Sep 30, 2025 | 3 | $27.4M | 92c | 400 bp | 3.80% | |
| Jun 30, 2025 | 3 | $27.4M | 98c | 700 bp | ||
| Mar 31, 2025 | 3 | $25.8M | 96c | 700 bp | ||
| Dec 31, 2024 | 3 | $46.8M | 94c | 700 bp | ||
| Sep 30, 2024 | 3 | $26.3M | 102c | 675 bp | ||
| Jun 30, 2024 | 3 | $24.4M | 96c | 700 bp | ||
| Mar 31, 2024 | 3 | $24.3M | 96c | 675 bp | ||
| Dec 31, 2023 | 3 | $24.5M | 95c | 700 bp | ||
| Sep 30, 2023 | 3 | $23.4M | 91c | 700 bp | ||
| Jun 30, 2023 | 3 | $24.4M | 95c | 700 bp | ||
| Mar 31, 2023 | 3 | $23.7M | 92c | 700 bp | ||
| Dec 31, 2022 | 3 | $23.0M | 90c | 700 bp | ||
| Sep 30, 2022 | 1 | $12.8M | 82c | 700 bp | ||
| Dec 31, 2021 | 1 | $15.5M | 102c | 675 bp |
What changed on this facility
position and facility grain, including routine
- Spread changed (observed) Mar 31, 2026B•••••• E••••••••• S••••••• H••••• L•••••• term loan: spread moved from 4.00% to 2.80%
- PIK interest increased Mar 31, 2026B•••••• E••••••••• S••••••• H••••• L•••••• term loan: PIK interest rose from 3.80% to 5.00%
- Marked down across lenders Dec 31, 2025B•••••• E••••••••• S••••••• H••••• L•••••• term loan: marked from 92 to 87 cents on cost across 3 lender(s)
- Marked down across lenders Sep 30, 2025B•••••• E••••••••• S••••••• H••••• L•••••• term loan: marked from 98 to 92 cents on cost across 3 lender(s)
- PIK interest appears Sep 30, 2025B•••••• E••••••••• S••••••• H••••• L•••••• term loan: PIK interest of 3.80% appears (was cash pay)
- Spread changed (observed) Sep 30, 2025B•••••• E••••••••• S••••••• H••••• L•••••• term loan: spread moved from 7.00% to 4.00%
- Marked down across lenders Dec 31, 2024B•••••• E••••••••• S••••••• H••••• L•••••• term loan: marked from 102 to 94 cents on cost across 3 lender(s)
- Mark recovered Dec 31, 2022B•••••• E••••••••• S••••••• H••••• L•••••• term loan: marked from 82 to 90 cents on cost
- New lender joined a facility Dec 31, 2022B•••••• P•••••• C••••• C••• joins B•••••• E••••••••• S••••••• H••••• L•••••• term loan (first lien) held by 2 other BDCs
- New lender joined a facility Dec 31, 2022B•••••• C•••••• I••••••••• C••• joins B•••••• E••••••••• S••••••• H••••• L•••••• term loan (first lien) held by 2 other BDCs
- Marked down across lenders Sep 30, 2022B•••••• E••••••••• S••••••• H••••• L•••••• term loan: marked from 102 to 82 cents on cost across 1 lender(s)
Other pieces of this borrower's structure
How this facility is known
- Grain
- B•••••• E••••••••• S••••••• H••••• L•••••• 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