DFX Intelligence
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Borrower
E•••• T••••••••• L••
Softwaregroup grade Aoff every schedule since Mar 31, 2024sponsor unattributed
Nothing material in the last 200 days. Last change: 31 Mar 2024, Consensus mark 78¢ on cost, down from 100¢ a year ago, 98¢ last quarter.
Mark path, consensus per quarter end
100¢ · 99¢ · 99¢ · 98¢ · 78¢Q1 2023 to Q1 2024
Principal held
at least $3.8M
sum of BDC pieces, a lower bound
Fair value
$3.0M
78c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
1
1 equity pieces beside them
Next maturity
Apr 1, 2025
$3.8M inside 24 months
On the tape since
Dec 31, 2022
latest Mar 31, 2024
Events
2
dated, non-routine
Lender marks
each lender's own fair value over cost at Mar 31, 2024, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| H••••••• C••••••• I••• | $3.75M | 78¢ | -20 pts |
Every BDC piece · 2 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| H••••••• C••••••• I••• | term loan first lien S••••• S••••••, M••••••• D••• A•••• 2025, P•••• + 5.10%, F•••• rate 8.35%, 2.95% E••• Fee | $3.8M | $3.0M 78c | S+510 bp |
| H••••••• C••••••• I••• | warrants equity W••••••, A••••••••• D••• 4/13/2022, Series C••••• S•••• | Not disclosed | $0 0c |
Capital structure as the BDCs see it
latest quarter end Mar 31, 2024
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Mar 31, 2024 | at least $3.8M | 78c | S+510 bp | Apr 1, 2025 | 1 |
Equity pieces beside the debt: warrants ($0 fair value, 1 BDC)
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Mar 31, 2024 | 1 | $3.8M | $3.0M | 78c | 0 |
| Dec 31, 2023 | 1 | $7.5M | $7.5M | 98c | 0 |
| Sep 30, 2023 | 1 | $3.8M | $3.7M | 99c | 0 |
| Jun 30, 2023 | 1 | $3.8M | $3.7M | 99c | 0 |
All 6 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Mar 31, 2023 | 1 | $3.8M | $3.7M | 100c | 0 |
| Dec 31, 2022 | 1 | $3.8M | $3.7M | 100c | 0 |
What changed
- Facility left every BDC scheduleMar 31, 2024
- Marked down across lendersMar 31, 2024
- Marked down (one lender)Mar 31, 2024
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- E•••• T•••••••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived
- Industry
- Softwarereportedas one filer wrote it