DFX Intelligence
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Borrower
I•••••• I•••••••••
Paper Packaginggroup grade Aoff every schedule since Dec 31, 2024sponsor unattributed
Also written as: Inc. Fourth Amendment
Nothing material in the last 200 days. Last change: 31 Dec 2024, $45M principal held by 2 lenders; matures Mar 2027.
Mark path, consensus per quarter end
100¢ · 100¢ · 101¢ · 101¢ · 101¢Q4 2023 to Q4 2024
Where each lender marks it on the first lien term loan, 1 point apart
101¢102¢
Principal held
at least $45.0M
sum of BDC pieces, a lower bound
Fair value
$44.8M
101c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
1
0 equity pieces beside them
Next maturity
Mar 5, 2027
no dated debt inside 24 months
On the tape since
Dec 31, 2023
latest Dec 31, 2024
Events
2
dated, non-routine
Lender marks
each lender's own fair value over cost at Dec 31, 2024, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| K•••• A••••••• B••• I••• | $27.9M | 102¢ | new this quarter |
| S•••••••• P•••••• C••••• F••• L•• | $17M | 101¢ | 0 pts |
Every BDC piece · 10 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| K•••• A••••••• B••• I••• | term loan first lien F•••• lien senior secured loan - S•••(M) - Two | $14.8M | $14.8M 102c | S+625 bp |
| K•••• A••••••• B••• I••• | term loan first lien F•••• lien senior secured loan - S•••(M) | $7.2M | $7.2M 102c | S+625 bp |
| K•••• A••••••• B••• I••• | term loan first lien F•••• lien senior secured loan - S•••(M) - One | $5.9M | $5.9M 102c | S+625 bp |
| S•••••••• P•••••• C••••• F••• L•• | term loan first lien T••• L••• P••• | N•••••••••, N••••••••• D••• Investments | F•••• L••• S••••• S•••••• | 3/5 | $2.7M | $2.7M 100c | S+635 bp |
| S•••••••• P•••••• C••••• F••• L•• | term loan first lien T••• L••• P••• | N•••••••••, N••••••••• D••• Investments | F•••• L••• S••••• S•••••• | R•• | $2.7M | $2.7M 100c | SOFR+635 bp |
View all 10 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| S•••••••• P•••••• C••••• F••• L•• | term loan first lien T••• L••• P••• | N•••••••••, N••••••••• D••• Investments | F•••• L••• S••••• S•••••• | 3/5 | $2.7M | $2.7M 100c | S+635 bp |
| S•••••••• P•••••• C••••• F••• L•• | term loan first lien T••• L••• P••• | N•••••••••, N••••••••• D••• Investments | F•••• L••• S••••• S•••••• | 3/5 | $2.2M | $2.2M 101c | S+635 bp |
| S•••••••• P•••••• C••••• F••• L•• | term loan first lien T••• L••• P••• | N•••••••••, N••••••••• D••• Investments | F•••• L••• S••••• S•••••• | R•• | $2.2M | $2.2M 101c | SOFR+635 bp |
| S•••••••• P•••••• C••••• F••• L•• | term loan first lien T••• L••• P••• | N•••••••••, N••••••••• D••• Investments | F•••• L••• S••••• S•••••• | 10. | $2.2M | $2.2M 101c | S+635 bp |
| S•••••••• P•••••• C••••• F••• L•• | term loan first lien T••• L••• P••• | N•••••••••, N••••••••• D••• Investments | F•••• L••• S••••• S•••••• | 3/5 | $2.2M | $2.2M 101c | S+635 bp |
Capital structure as the BDCs see it
latest quarter end Dec 31, 2024
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Dec 31, 2024 | at least $45.0M | 101c | SOFR+625 bp | Mar 5, 2027 | 2 |
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Dec 31, 2024 | 2 | $45.0M | $44.8M | 101c | 0 |
| Sep 30, 2024 | 1 | $5.0M | $4.9M | 101c | 0 |
| Jun 30, 2024 | 1 | $5.0M | $4.9M | 101c | 0 |
| Mar 31, 2024 | 1 | $5.0M | $4.9M | 100c | 0 |
All 5 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Dec 31, 2023 | 1 | $12.7M | $12.4M | 100c | 0 |
What changed
- Facility left every BDC scheduleDec 31, 2024
- New borrower on a BDC scheduleDec 31, 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
- I•••••• I•••••••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived
- Industry
- Paper Packagingreportedas one filer wrote it