DFX Intelligence
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Borrower
H••••• H•••••••• L••
group grade Aoff every schedule since Dec 31, 2024sponsor unattributed
Also written as: Matterhorn Parent, LLC
Nothing material in the last 200 days. Last change: 31 Dec 2024, Non-accrual at 3 of 3 lenders on the latest schedules, first placed in Q1 2024.
Mark path, consensus per quarter end
70¢ · 54¢ · 29¢ · 24¢ · 72¢Q4 2023 to Q4 2024
Principal held
at least $384M
sum of BDC pieces, a lower bound
Fair value
$35.4M
12c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
3
3 on the latest quarter
Facilities
2
2 equity pieces beside them
Next maturity
May 1, 2025
$384M inside 24 months
On the tape since
Dec 31, 2021
latest Dec 31, 2024
Events
20
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 |
|---|---|---|---|
| B••• O•• C•••••• C••• | $244M | 4¢ as filed, not counted | no comparable mark |
| A••• C•••••• C••• | $104M | 72¢ | +32 pts |
| B••• O•• C•••••• C••• I• | $36.4M | 4¢ as filed, not counted | no comparable mark |
Every BDC piece · 10 positions across 3 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••• O•• C•••••• C••• | term loan second lien S••••• lien senior secured loan | N••••••••• | $122M | $4.9M 4c | S+600 bp |
| B••• O•• C•••••• C••• | term loan second lien S••••• lien senior secured loan | $122M | $4.9M 4c | S+600 bp |
| A••• C•••••• C••• | term loan second lien S••••• lien senior secured loan | $73.0M | $3.8M 100c | |
| A••• C•••••• C••• | term loan first lien F•••• lien senior secured loan 1 | $24.5M | $16.1M 69c | |
| B••• O•• C•••••• C••• I• | term loan second lien S••••• lien senior secured loan | Non A••••••••• | $18.2M | $728,000 4c | S+600 bp |
View all 10 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••• O•• C•••••• C••• I• | term loan second lien S••••• lien senior secured loan | $18.2M | $728,000 4c | S+600 bp |
| A••• C•••••• C••• | term loan first lien F•••• lien senior secured loan 3 | $3.3M | $2.1M 66c | |
| A••• C•••••• C••• | term loan first lien F•••• lien senior secured loan 2 | $3.3M | $2.1M 66c | |
| A••• C•••••• C••• | term loan first lien F•••• lien senior secured loan | $100,000 | $100,000 100c | |
| A••• C•••••• C••• | equity equity C••••• units | Not disclosed | $0 0c |
Capital structure as the BDCs see it
latest quarter end Dec 31, 2024
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| second lien term loan second lien exited Dec 31, 2024 | at least $353M | 6c | S+600 bp | Mar 1, 2026 | 3 |
| first lien term loan first lien exited Dec 31, 2024 | at least $31.2M | 68c | May 1, 2025 | 1 |
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 | 3 | $384M | $35.4M | 12c | 0 |
| Sep 30, 2024 | 3 | $242M | $53.9M | 25c | 0 |
| Jun 30, 2024 | 3 | $242M | $65.8M | 29c | 0 |
| Mar 31, 2024 | 3 | $242M | $128M | 55c | 0 |
All 11 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Dec 31, 2023 | 3 | $243M | $174M | 72c | 0 |
| Sep 30, 2023 | 2 | $121M | $102M | 86c | 0 |
| Jun 30, 2023 | 3 | $243M | $199M | 83c | 0 |
| Mar 31, 2023 | 3 | $243M | $204M | 86c | 0 |
| Dec 31, 2022 | 3 | $269M | $233M | 89c | 0 |
| Sep 30, 2022 | 2 | $225M | $181M | 82c | 0 |
| Dec 31, 2021 | 2 | $270M | $270M | 101c | 0 |
What changed
- Facility left every BDC scheduleDec 31, 2024
- Spread changed (observed)Dec 31, 2024
- Marked down across lendersDec 31, 2024
- Facility left every BDC scheduleDec 31, 2024
- Marked down across lendersDec 31, 2024
Full timeline · 30 eventsShow fewer
- Marked down (one lender)Dec 31, 2024
- Marked down (one lender)Dec 31, 2024
- Marked down (one lender)Dec 31, 2024
- Marked down across lendersSep 30, 2024
- Marked down (one lender)Sep 30, 2024
- Marked down (one lender)Sep 30, 2024
- Marked down across lendersJun 30, 2024
- Marked down (one lender)Jun 30, 2024
- Marked down (one lender)Jun 30, 2024
- Marked down (one lender)Jun 30, 2024
- Marked down across lendersMar 31, 2024
- Placed on non-accrualMar 31, 2024
- Placed on non-accrualMar 31, 2024
- Marked down across lendersMar 31, 2024
- Placed on non-accrualMar 31, 2024
- Marked down (one lender)Mar 31, 2024
- Marked down (one lender)Mar 31, 2024
- Marked down (one lender)Mar 31, 2024
- Marked down (one lender)Mar 31, 2024
- Marked down across lendersDec 31, 2023
- Marked down across lendersDec 31, 2023
- Marked down (one lender)Dec 31, 2023
- Marked down (one lender)Dec 31, 2023
- Marked down (one lender)Dec 31, 2023
- Marked down (one lender)Dec 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
- H FOODderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 3 BDCsderived