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A private credit borrower in diversified financial services

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

What matters now

  1. 1 of 1 lender
    on non-accrual

    Non-accrual at 1 of 1 lender on the latest schedules, first placed in Q3 2024.

    since Q3 2024 · Interest has stopped accruing; the lenders no longer expect to be paid in full.

    FactBDC schedules of investments, 30 Jun 2026For restructuring advisers, special situations funds, the lenders' LPsSee every lender →
  2. $34.6M
    principal outstanding

    $34.6M principal held by 1 lender.

    Q2 2026 · The loss if the marks hold, spread across the holders below.

    FactBDC schedules of investments, 30 Jun 2026; a sum of the BDCs' pieces, a lower bound
Principal held
at least $34.6M
sum of BDC pieces, a lower bound
Fair value
$254,979
1c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
2
1 on the latest quarter
Facilities
3
2 equity pieces beside them
Next maturity
Aug 3, 2026
$34.6M inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
11
dated, non-routine

Lender marks

each lender's own fair value over cost at Jun 30, 2026, folded to one row per lender
LenderExposureCurrent markQoQ change
BlackRock TCP Capital Corp.$34.6M1¢ as filed, not countedno comparable mark
Every BDC piece · 6 positions across 1 lenderlargest principal first, with instrument and rate
BDCInstrumentPrincipalFair valueRate
BlackRock TCP Capital Corp.subordinated debt unsecured or subordinated
Unsecured Debt Ref LIBOR(A) Floor 1.00% Spread 11.00% Total Coupon 11.00% Maturity 8/3/202
$34.6M$127,490
1c
LIBOR+1100 bp
BlackRock TCP Capital Corp.term loan first lien
Unsecured 1st Lien Term Loan, SOFR +11%, 1% SOFR Floor, due 6/3/26
Not disclosed$127,489SOFR+1100 bp
BlackRock TCP Capital Corp.preferred equity equity
Preferred Stock
Not disclosed$0
BlackRock TCP Capital Corp.preferred equity equity
Preferred Stock Ref Fixed Total Coupon 13.50%
Not disclosed$0
BlackRock TCP Capital Corp.equity equity
Common Stock
Not disclosed$0
View all 6 positionslargest principal first
BDCInstrumentPrincipalFair valueRate
BlackRock TCP Capital Corp.equity equity
Common Stock
Not disclosed$0

Capital structure as the BDCs see it

latest quarter end Jun 30, 2026
FacilityHeldOn costPricingMaturityBDCs
unsecured or subordinated subordinated debt unsecured or subordinatedat least $34.6M1cLIBOR+1100 bpAug 3, 20261
first lien term loan first lienunknownn/aSOFR+1100 bpJun 3, 20261
unsecured or subordinated term loan unsecured or subordinated
exited Dec 31, 2025
unknownn/aSOFR+1100 bpOct 31, 20211
Equity pieces beside the debt: preferred equity ($0 fair value, 1 BDC), equity ($0 fair value, 1 BDC)

Through time

the borrower's pieces summed across BDCs, every quarter end
Quarter endBDCsPrincipal heldFair valueOn costPIK pieces
Jun 30, 20261$34.6M$254,9792c0
Mar 31, 20261$34.6M$127,4901c0
Dec 31, 20251$34.6M$509,9575c0
Sep 30, 20251$34.6M$254,9802c0
All 16 quarters
Quarter endBDCsPrincipal heldFair valueOn costPIK pieces
Jun 30, 20251$34.6M$256,3662c0
Mar 31, 20251$37.2M$4.7M36c0
Dec 31, 20241$37.2M$10.0M76c0
Sep 30, 20241$37.2M$11.9M91c0
Jun 30, 20241$0$13.9Mn/a0
Mar 31, 20241$37.2M$27.4M209c0
Dec 31, 20232$37.2M$31.3M84c0
Sep 30, 20231$37.2M$30.1M81c0
Jun 30, 20231$37.2M$30.0M81c0
Mar 31, 20231$37.7M$31.3M83c0
Dec 31, 20221$113M$76.1M67c0
Dec 31, 20211$0$43.9Mn/a0

What changed

  • Maturity extended (observed)Jun 30, 2026
  • Maturity extended (observed)Jun 30, 2026
  • Maturity shortened (observed)Mar 31, 2026
  • Facility left every BDC scheduleDec 31, 2025
  • Maturity shortened (observed)Sep 30, 2025

+14 additional dated changes on this borrower

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

Position history

17 field-level changes across filed schedules, latest first
  • Maturity extended2021-10-31 to 2026-06-03
    2026-06-30
  • Maturity shortened2026-06-03 to 2021-10-31
    2026-03-31
  • Position exited
    2026-03-31

+14 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.