U.S. TelePacific Corp.
U.S. TelePacific, which trades as TPx Communications, is a managed-services provider for mid-sized businesses. It supplies internet and network connectivity, cloud-based phone and contact-centre systems, managed wide-area networking and managed cybersecurity, so a customer with many small sites can outsource its network and IT support to one vendor. Affiliates of the private-equity firm Siris Capital Group completed the acquisition of the company in February 2020 from investors including affiliates of Investcorp and Clarity Partners. On 29 June 2026 TPx filed a prearranged Chapter 11 case supported by holders of about 98 per cent of its funded debt, under a plan that would reduce funded debt by roughly $1 billion.
Company profile compiled from public sources (company filings, rating-agency reports, and press releases) — distinct from the SEC Schedule-of-Investments pricing data below.
Lenders
U.S. TelePacific Corp. is held by 3 BDC lenders in our parsed SEC filings: CSWC, MAIN, 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). Rows marked stale are from an earlier filing than the lender’s latest — the borrower is absent from its newest filing (exited, repaid, or reported under a different name).
| BDC | Type | Rate | Cash spread (bps) | Mark (% of par) | Fair Value | Maturity | Filing |
|---|---|---|---|---|---|---|---|
| MAIN | 1L Sr Secured | PIK | 1,100 | 95.4 | $678K | 2026-05-02 | 2026-08-07 |
| CSWC | 1L Sr Secured | PIK | 700 | 40.4 | $1M | 2026-05-04 | 2026-08-03 |
| MAIN | 1L Sr Secured | PIK | 700 | 19.8 | $2M | 2027-05-02 | 2026-08-07 |
| CSWC | Debt | — | 25.2 | $58K | 2027-05-03 | 2026-08-03 | |
| MAIN | 1L Sr Secured | FIXED | — | — | — | 2027-05-02 | 2026-08-07 |
| MFIC | 1L Sr Secured | FIXED | — | — | — | 2027-05-02 | 2024-11-07 stale |
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
Verified headlines that signal an acquisition, merger, buyout, sponsor change, refinancing, or restructuring involving U.S. TelePacific Corp.. A mention is not confirmation of a completed deal — verify against the linked source. Source: Google News.
Headlines mentioning U.S. TelePacific Corp.
Credit events — verified headlines reporting a rating action, restructuring, or default involving U.S. TelePacific Corp.. Coverage is partial (our indexed news only) and a headline is not a verdict — verify against the linked source.
- DEFAULT Case Summary: TPx Communications Chapter 11
- DEFAULT TPx Communications Files for Bankruptcy, Eyes $1 Billion Debt Cut
- DEFAULT TPx Communications secures $73.6M DIP financing in Chapter 11 restructuring
- RESTRUCTURING U.S. TelePacific (TPx): A Balance-Sheet Restructuring on a 70-Day Clock
Public headlines that name U.S. TelePacific Corp., matched by company name and shown most-recent first. A mention is not an endorsement, a rating, or investment advice — verify anything material against the original source. Source: Google News.
- U.S. TelePacific (TPx): A Balance-Sheet Restructuring on a 70-Day Clock
- Case Summary: TPx Communications Chapter 11
- IT Co. TPx Communications Hits Ch. 11 With $1.1B In Debt
- TPx Communications Files for Bankruptcy, Eyes $1 Billion Debt Cut
- TPx Communications secures $73.6M DIP financing in Chapter 11 restructuring
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.