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Private-Credit Borrower

IQN Holding Corp

How each BDC lender prices its exposure to this borrower, from the latest SEC Schedule-of-Investments filings.

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6
BDC Lenders
14
Debt Positions

Lenders

IQN Holding Corp is held by 6 BDC lenders in our parsed SEC filings: ARCC, BXSL, CGBD, GBDC, MFIC, MSDL.

Cross-lender loan pricing

Each row is one debt tranche at the BDC’s most recent filing that holds this borrower, widest spread first. Mark is the position’s fair value as a percent of par (100 = par). Spread is shown in basis points over the benchmark in the Rate column, normalized from each filing’s as-reported units — rows quoting different benchmarks are still not directly comparable. Compare like-for-like: a second-lien tranche, a different vintage, or an older filing should price wider even when the credit view is identical — check the Type and Filing columns before reading a gap as disagreement. Source: SEC EDGAR (public). Lenders whose newest filing no longer names this borrower are listed separately under “Exited” below.

BDCTypeRateCash spread (bps)Mark (% of par)Fair ValueMaturityFiling
ARCC1L Sr SecuredSOFR525100.0$1M2028-052026-07-29
ARCC1L Sr SecuredSOFR525100.0$1M2029-052026-07-29
BXSL1L Sr SecuredSOFR52596.9$343K2028-05-022026-08-06
BXSL1L Sr SecuredSOFR52598.0$5M2029-05-022026-08-06
BXSL1L Sr SecuredSOFR52598.1$606K2029-05-022026-08-06
CGBD1L Sr SecuredSOFR52599.2$12M2029-05-022026-08-06
GBDC1L Sr SecuredPIK52598.0$23M2029-052026-08-03
GBDC1L Sr SecuredSOFR52597.0$131K2028-052026-08-03
GBDC1L Sr SecuredPIK52598.0$4M2029-052026-08-03
MSDL1L Sr SecuredSOFR525100.0$270K2028-05-022026-08-06
MSDL1L Sr SecuredSOFR525100.0$2M2029-05-022026-08-06
MSDL1L Sr SecuredSOFR525100.0$6M2029-05-022026-08-06
MFIC1L Sr SecuredPIK26388.0$139K2028-05-022026-08-06
MFIC1L Sr SecuredPIK26392.6$4M2029-05-022026-08-06

Marks reflect each BDC’s own fair-value estimates as reported to the SEC, not traded prices. Private-credit loans are predominantly Level 3 under ASC 820 — valued from unobservable inputs and determined in good faith under the oversight of each BDC’s board (often by the adviser as valuation designee), so figures are estimates as of the period end each filing reports, not its filing date, and are not directly comparable across managers. Informational only; not investment advice or a valuation.

Exited

Exited or inactive lenders: last-filed positions, not current. Excluded from every count and figure above.

BDCStatusPositionsLast-filed Fair Value
FBLKInactive filer (last filed 2023-11-13)1$12M

Ownership & deal activity

Ownership and acquisition events compiled from public sources and audited against the linked source. Each event links to its source; “(reported)” marks a lower-confidence item. Verify anything material against the original source.

  • mergerGTCR-owned IQNavigator merges with Adecco's Beeline; combined entity renamed Beeline (IQN Holding Corp.)GTCR, majority owner of IQNavigator, acquired Beeline from the Adecco Group and merged the two VMS businesses into a combined entity operating under the Beeline brand; Adecco retained a minority interest and received $100 million cash plus a $30 million promissory note.2016-12-12 · per adeccogroup.com
  • lboGTCR acquires majority stake in IQNavigator (IQN) from Baker Capital and managementGTCR Golder Rauner bought out Baker Capital's ~40% stake and other IQNavigator shareholders, taking a majority position in the Denver-based services-procurement SaaS platform.2008-06-09 · per pehub.com
No acquisition, ownership-change, or refinancing headlines for IQN Holding Corp are in our verified news index yet. Most BDC borrowers are private companies, so ownership events are not always public; absence reflects our indexing coverage, not the borrower’s deal activity.

Headlines mentioning IQN Holding Corp

We haven’t indexed any headlines that name IQN Holding Corp. That reflects our news-indexing coverage — not the borrower’s activity — so the absence is not a signal.

Reading this table

When two business development companies lend to the same borrower, comparing how each marks the loan is a starting question, not a verdict. In plain English: a wider spread (e.g. S+575 vs S+525) or a lower mark (e.g. 96 vs 100 cents on the dollar) can mean that lender is pricing in more risk — but marks can also differ for reasons other than a credit view: a different tranche (second lien should price wider than first lien on the same company), a different vintage or entry point, an older filing date, or each manager’s own fair-value methodology. Compare like-for-like — check the Type and Filing columns before reading a gap as disagreement. Each row is one debt position at one BDC’s most recent filing. Source: SEC EDGAR Schedule of Investments (public).

Want to read these numbers like an analyst? Free Oxford Ledge lessons: reading a BDC’s Schedule of Investments, key credit metrics, and the Five Cs of credit analysis.