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A private credit borrower

Borrower
group grade Aon a schedule nowsponsor not yet identified
See every lender's markSpecial situations PE firms

What matters now

  1. $47.3M
    principal outstanding

    $47.3M principal held by 3 lenders; matures Sep 2026.

    Q2 2026 · Refinancing is due in 0 months at a 101¢ mark.

    FactBDC schedules of investments, 30 Jun 2026; a sum of the BDCs' pieces, a lower bound
Mark path, consensus per quarter end
Q2 2025: 101¢Q3 2025: 100¢Q4 2025: 100¢Q1 2026: 101¢Q2 2026: 101¢101¢ · 100¢ · 100¢ · 101¢ · 101¢Q2 2025 to Q2 2026
Where each lender marks it on the first lien term loan, 1 point apart
100¢Consensus: 101¢CION Investment: 101¢WhiteHorse Finance: 100¢101¢
Principal held
at least $47.3M
sum of BDC pieces, a lower bound
Fair value
$85.2M
101c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
4
3 on the latest quarter
Facilities
2
1 equity pieces beside them
Next maturity
Sep 30, 2026
$47.3M inside 24 months
On the tape since
Dec 31, 2020
latest Jun 30, 2026
Events
1
dated, non-routine

Lender marks

each lender's own fair value over cost at Jun 30, 2026, folded to one row per lender
How each lender’s mark moved, last 4 quarter ends
Consensus, weighted by principalOne lender
95¢100¢105¢Q3 2025Q4 2025Q1 2026Q2 2026CION Investment Corp: Q3 2025 100¢, Q4 2025 100¢, Q1 2026 101¢, Q2 2026 101¢WhiteHorse Finance, Inc.: Q3 2025 100¢, Q4 2025 100¢, Q1 2026 100¢, Q2 2026 100¢CAPITAL SOUTHWEST CORP: Q3 2025 98¢, Q4 2025 98¢, Q1 2026 99¢, Q2 2026 100¢101¢

Consensus Q3 2025 100¢, Q4 2025 100¢, Q1 2026 101¢, Q2 2026 101¢. Hover a line for one lender.

Lenders with a mark per quarter end: Q3 2025 3, Q4 2025 3, Q1 2026 3, Q2 2026 3. A mark is each lender’s own fair value over cost from its schedule of investments, filed about 45 days after the quarter ends; marks outside 5¢ to 110¢ on cost are left out.

Every lender’s mark by quarter, as a table
LenderQ3 2025Q4 2025Q1 2026Q2 2026
Consensus100¢100¢101¢101¢
CION Investment Corp100¢100¢101¢101¢
WhiteHorse Finance, Inc.100¢100¢100¢100¢
CAPITAL SOUTHWEST CORP98¢98¢99¢100¢
LenderExposureCurrent markQoQ change
CION Investment Corp$37M101¢0 pts
WhiteHorse Finance, Inc.$6.78M100¢0 pts
CAPITAL SOUTHWEST CORP$3.57M100¢+1 pts
Every BDC piece · 13 positions across 3 lenderslargest principal first, with instrument and rate
BDCInstrumentPrincipalFair valueRate
CION Investment Corpterm loan first lien
Senior Secured First Lien Debt
$20.9M$21.1M
101c
S+750 bp
CION Investment Corpterm loan first lien
Senior Secured First Lien Debt
$8.7M$8.7M
101c
S+750 bp
CION Investment Corpterm loan first lien
Senior Secured First Lien Debt
$7.4M$7.5M
101c
S+750 bp
WhiteHorse Finance, Inc.term loan first lien
First Lien Secured Term Loan A
$5.0M$5.0M
100c
SOFR+750 bp
CAPITAL SOUTHWEST CORPterm loan lien unstated
Tranche A Term Loan
$2.2M$2.2M
100c
S+750 bp
View all 13 positionslargest principal first
BDCInstrumentPrincipalFair valueRate
WhiteHorse Finance, Inc.term loan first lien
First Lien Secured Term Loan B
$1.8M$1.8M
100c
S+950 bp
CAPITAL SOUTHWEST CORPterm loan lien unstated
Tranche B Term Loan
$793,000$793,000
100c
S+750 bp
CAPITAL SOUTHWEST CORPterm loan lien unstated
Tranche C Loan
$549,000$549,000
100c
S+750 bp
CAPITAL SOUTHWEST CORPequity equity
a withheld name A Common Stock
Not disclosed$457,000
61c
CION Investment Corpterm loan first lien
Term Loan A | Non-Controlled, Affiliated Investments
Not disclosed$21.1M
CION Investment Corpterm loan first lien
Term Loan B | Non-Controlled, Affiliated Investments
Not disclosed$7.5M
CION Investment Corpterm loan first lien
Senior Secured First Lien Debt
Not disclosedNot disclosedS+750 bp
PIK 9.50%
CION Investment Corpterm loan first lien
Term Loan C | Non-Controlled, Affiliated Investments
Not disclosed$8.7M

Capital structure as the BDCs see it

latest quarter end Jun 30, 2026
FacilityHeldOn costPricingMaturityBDCs
first lien term loan first lienat least $43.8M101cSOFR+750 bp
PIK 9.50%
Sep 30, 20262
term loan lien unstatedat least $3.6M100cS+750 bpSep 30, 20261
Equity pieces beside the debt: equity ($457,000 fair value, 1 BDC)

Through time

the borrower's pieces summed across BDCs, every quarter end
Quarter endBDCsPrincipal heldFair valueOn costPIK pieces
Jun 30, 20263$47.3M$84.8M179c1
Mar 31, 20263$47.5M$85.0M180c2
Dec 31, 20253$121M$195M161c4
Sep 30, 20253$47.2M$83.8M178c3
All 17 quarters
Quarter endBDCsPrincipal heldFair valueOn costPIK pieces
Jun 30, 20253$47.0M$84.0M180c3
Mar 31, 20253$51.9M$88.3M170c4
Dec 31, 20243$47.8M$121M254c3
Sep 30, 20243$47.5M$83.3M176c3
Jun 30, 20243$47.2M$82.5M175c3
Mar 31, 20243$46.9M$81.5M175c3
Dec 31, 20232$43.0M$77.1M181c2
Sep 30, 20233$42.7M$76.6M181c2
Jun 30, 20233$42.5M$76.1M181c2
Mar 31, 20233$41.1M$73.2M180c2
Dec 31, 20223$41.0M$73.1M180c1
Sep 30, 20223$41.1M$39.8M98c1
Dec 31, 20212$41.1M$73.3M181c1

What changed

  • Maturity extended (observed)Jun 30, 2025
  • Maturity extended (observed)Jun 30, 2025
  • Maturity extended (observed)Jun 30, 2025
  • Spread increasedMar 31, 2024
  • PIK interest appearsMar 31, 2023

+1 additional dated change on this borrower

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

Position history

15 field-level changes across filed schedules, latest first
  • Principal decreased$111M to $37.0M
    2026-03-31
  • Principal increased$36.7M to $111M
    2025-12-31
  • Maturity extended2025-06-29 to 2026-09-30
    2025-06-30

+12 more position changes

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

Each line is one position compared between two consecutive BDC schedules of investments: principal, fair value mark, spread, PIK and maturity, as filed with the SEC.