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Private-Credit Borrower

NCP-MSI Buyer, Inc. and NCP MSI Co-Invest, LP

MSI Express is a contract manufacturing (co-manufacturing) and packaging (co-packaging) partner for food and beverage brands — it produces and packages products on behalf of branded companies. The borrower norm concatenates the Nonantum Capital Partners (NCP) acquisition vehicle 'NCP MSI Buyer Inc' with the 'NCP MSI Co Invest' co-investment vehicle; the operating company is MSI Express.

Company profile compiled from public sources (company filings, rating-agency reports, and press releases) — distinct from the SEC Schedule-of-Investments pricing data below.

3
BDC Lenders
9
Debt Positions

Lenders

NCP-MSI Buyer, Inc. and NCP MSI Co-Invest, LP is held by 3 BDC lenders in our parsed SEC filings: AGTC, ARCC, MFIC.

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).

BDCTypeRateCash spread (bps)Mark (% of par)Fair ValueMaturityFiling
AGTC1L Sr SecuredSOFR500100.0$30M2031-032026-08-07
ARCC1L Sr SecuredSOFR500100.0$32M2031-032026-07-29
ARCC1L Sr SecuredSOFR500100.0$1M2031-032026-07-29
MFIC1L Sr SecuredSOFR50097.1$1M2031-03-242026-08-06
MFIC1L Sr SecuredSOFR50097.1$6M2031-03-242026-08-06
AGTC1L Sr SecuredSOFR375100.0$2M2031-032026-08-07
AGTC1L Sr SecuredSOFR375100.0$3M2031-032026-08-07
ARCC1L Sr SecuredSOFR375100.0$5M2031-032026-07-29
MFIC1L Sr SecuredSOFR37595.7$2M2031-03-242026-08-06

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 by each BDC’s board, so figures are estimates as of the filing date and are not directly comparable across managers. Informational only; not investment advice or a valuation.

Ownership & deal activity

No acquisition, ownership-change, or refinancing headlines for NCP-MSI Buyer, Inc. and NCP MSI Co-Invest, LP 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 NCP-MSI Buyer, Inc. and NCP MSI Co-Invest, LP

We haven’t indexed any headlines that name NCP-MSI Buyer, Inc. and NCP MSI Co-Invest, LP. 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.