DFX Intelligence
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Borrower
B••••••••• A••••••••• H•••••••• L••
Softwaregroup grade Aoff every schedule since Sep 30, 2024sponsor unattributed
Also written as: LLC Sr Secured
Principal held
at least $18.8M
sum of BDC pieces, a lower bound
Fair value
$18.8M
102c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
3
2 on the latest quarter
Facilities
3
0 equity pieces beside them
Next maturity
Apr 30, 2026
$18.8M inside 24 months
On the tape since
Dec 31, 2022
latest Sep 30, 2024
Events
9
dated, non-routine
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 $16.8M | 102c | S+760 bp | Apr 30, 2026 | 3 |
| revolver lien unstated exited Sep 30, 2024 | at least $2.0M | 102c | S+760 bp | Apr 30, 2026 | 2 |
| first lien revolver first lien exited Dec 31, 2023 | at least $492,791 | 102c | S+775 bp | Apr 30, 2026 | 1 |
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B•••••••• D••••• L•••••• C•••• | revolver lien unstated R••••••• Ref S•••(M) F•••• 1.00% S••••• 7.60% T•••• C••••• 12.71% M••••••• D••• 04/30/2026 | $195,562 | $195,562 102c | S+760 bp |
| B•••••••• D••••• L•••••• C•••• | term loan first lien F•••• L••• I••••••••• T••• L••• Ref S•••(M) F•••• 1.00% S••••• 7.60% T•••• C••••• 12.56% M | $1.7M | $1.7M 101c | S+760 bp |
| B•••••••• T•• C•••••• C•••• | revolver lien unstated R••••••• Ref S•••(M) F•••• 1.00% S••••• 7.60% T•••• C••••• 12.71% M••••••• 4/30/2026 | $1.8M | $1.8M 102c | S+760 bp |
| B•••••••• T•• C•••••• C•••• | term loan first lien F•••• L••• I••••••••• T••• L••• Ref S•••(M) F•••• 1.00% S••••• 7.60% T•••• C••••• 12.56% M | $406,992 | $406,992 102c | S+760 bp |
| B•••••••• T•• C•••••• C•••• | term loan first lien F•••• L••• T••• L••• Ref S•••(Q) F•••• 1.00% S••••• 7.65% T•••• C••••• 12.90% M••••••• 4/3 | $14.8M | $14.8M 102c | S+765 bp |
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 | 2 | $18.8M | $18.8M | 102c | 0 |
| Jun 30, 2024 | 2 | $19.1M | $19.1M | 102c | 0 |
| Mar 31, 2024 | 2 | $19.2M | $19.2M | 102c | 0 |
| Dec 31, 2023 | 3 | $21.0M | $21.2M | 103c | 0 |
| Sep 30, 2023 | 3 | $19.4M | $19.6M | 103c | 0 |
| Jun 30, 2023 | 3 | $22.2M | $22.2M | 113c | 0 |
| Mar 31, 2023 | 3 | $21.8M | $21.6M | 112c | 0 |
| Dec 31, 2022 | 3 | $32.3M | $31.4M | 99c | 0 |
What changed
- Facility left every BDC scheduleSep 30, 2024
- Lender left a facilitySep 30, 2024
- Facility left every BDC scheduleSep 30, 2024
- Lender left a facilitySep 30, 2024
- non accrual placedDec 31, 2023
- Spread changed (observed)Dec 31, 2023
- Facility left every BDC scheduleDec 31, 2023
- Spread changed (observed)Dec 31, 2023
- Spread increasedDec 31, 2023
- Spread increasedDec 31, 2023
- Spread increasedDec 31, 2023
- returned to accrualJun 30, 2023
- non accrual placedMar 31, 2023
- New borrower on a BDC scheduleDec 31, 2022
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- BACKOFFICE ASSOCIATESderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 3 BDCsderived
- Industry
- Softwarereportedas one filer wrote it