DFX Intelligence
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Borrower
R• H••••••• M••••• S••• L••
Air Freight & Logisticsgroup grade Aoff every schedule since Sep 30, 2024sponsor unattributed
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
103¢ · 103¢ · 103¢ · 103¢ · 102¢Q3 2023 to Q3 2024
Principal held
at least $24.6M
sum of BDC pieces, a lower bound
Fair value
$24.6M
103c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
2
1 on the latest quarter
Facilities
3
0 equity pieces beside them
Next maturity
Dec 29, 2028
no dated debt inside 24 months
On the tape since
Jun 30, 2023
latest Sep 30, 2024
Events
4
dated, non-routine
Lender marks
each lender's own fair value over cost at Sep 30, 2024, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| F••••••• P•••••• C••••• C• L•• | $24.6M | 102¢ | 0 pts |
Every BDC piece · 3 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| F••••••• P•••••• C••••• C• L•• | term loan first lien F•••• L••• D••• T••• L••• R•••••••• R••• and S••••• S••• + 6.25% I••••••• R••• 11.10% M••• | $21.7M | $21.7M 102c | S+625 bp |
| F••••••• P•••••• C••••• C• L•• | delayed draw term loan first lien F•••• L••• D••• D•••••• D••• T••• L••• R•••••••• R••• and S••••• S••• + 6.25% I••••••• R•• | $2.5M | $2.5M 102c | S+625 bp |
| F••••••• P•••••• C••••• C• L•• | revolver first lien F•••• L••• D••• R•••••••• Credit F••••••• R•••••••• R••• and S••••• S••• + 6.25% I••••••• | $330,317 | $330,317 155c | S+625 bp |
Capital structure as the BDCs see it
latest quarter end Sep 30, 2024
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Sep 30, 2024 | at least $21.7M | 102c | S+625 bp | Dec 29, 2028 | 1 |
| first lien delayed draw term loan first lien exited Sep 30, 2024 | at least $2.5M | 102c | S+625 bp | Dec 29, 2028 | 1 |
| first lien revolver first lien exited Sep 30, 2024 | at least $330,317 | 155c | S+625 bp | Dec 29, 2028 | 1 |
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Sep 30, 2024 | 1 | $24.6M | $24.6M | 103c | 0 |
| Jun 30, 2024 | 2 | $30.0M | $29.9M | 103c | 0 |
| Mar 31, 2024 | 2 | $30.0M | $30.0M | 103c | 0 |
| Dec 31, 2023 | 2 | $30.1M | $30.1M | 104c | 0 |
All 6 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Sep 30, 2023 | 2 | $29.8M | $29.8M | 104c | 0 |
| Jun 30, 2023 | 1 | $24.5M | $23.6M | 100c | 0 |
What changed
- Facility left every BDC scheduleSep 30, 2024
- Facility left every BDC scheduleSep 30, 2024
- Facility left every BDC scheduleSep 30, 2024
- New lender joined a facilitySep 30, 2023
- New borrower on a BDC scheduleJun 30, 2023
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- R1 HOLDING MERGER SUBderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived
- Industry
- Air Freight & Logisticsreportedas one filer wrote it