DFX Intelligence
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Borrower
D••••••• I••• H•••••••• I••
group grade Aoff every schedule since Dec 31, 2023sponsor unattributed
Also written as: Titan DI Preferred Holdings, Inc
Principal held
unknown
sum of BDC pieces, a lower bound
Fair value
n/a
n/a on cost, debt pieces
Unfunded
n/a
commitments not yet drawn
BDC lenders
9
0 on the latest quarter
Facilities
4
1 equity pieces beside them
Next maturity
unstated
no dated debt inside 24 months
On the tape since
Sep 30, 2021
latest Dec 31, 2023
Events
5
dated, non-routine
Capital structure as the BDCs see it
latest quarter end Sep 30, 2023
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| second lien term loan second lien exited Sep 30, 2023 | at least $62.2M | 101c | S+825 bp | Jul 30, 2026 | 3 |
| term loan lien unstated exited Sep 30, 2021 | at least $54.6M | 100c | S+450 bp | Jul 1, 2025 | 1 |
| other lien unstated exited Sep 30, 2023 | at least $6.9M | 101c | S+425 bp | Jul 30, 2025 | 1 |
| first lien term loan first lien exited Sep 30, 2023 | at least $4.8M | 99c | S+425 bp | Jul 30, 2025 | 3 |
Equity pieces beside the debt: preferred equity ($46.9M fair value, 1 BDC)
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A• P•••••• C••••• I•••••••• C••• | term loan first lien U.S. C•••••••• D••• | 1st L•••/S••••• S•••••• D••• | T••• L••• | 9.67% (S + 4.25%) | 07/30 | $3.3M | $3.3M 100c | S+425 bp |
| A••• C•••••• C••• | term loan second lien S••••• lien senior secured loan | $25.0M | $25.0M 100c | S+825 bp |
| A••• C•••••• C••• | preferred equity equity P•••••••• stock | n/a | $46.9M 100c | PIK 13.50% |
| B••• C•••••• S•••••••• F••••••• I••• | term loan first lien F•••• L••• S••••• S•••••• L••• S••• S••••• 4.25% I••••••• R••• 9.67% M••••••• D••• 7/30/20 | $1.5M | $1.4M 97c | S+425 bp |
| C•••••• C••••• S••••••••• I••• | term loan second lien S••••• L••• | $18.6M | $18.6M 101c | S+825 bp |
| C•••••• S•••••• L••••••• I••• | term loan second lien S••••• L••• | $18.6M | $18.6M 101c | S+825 bp |
| F••••••• B•• L•••••• C••• | unstated lien unstated | $6.9M | $6.9M 101c | S+425 bp |
| M••••• C•••••• C••• | term loan first lien S••••• S•••••• L••••, due 7/30/2025 | n/a | n/a | S+435 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, 2023 | 7 | $73.9M | $73.8M | 101c | 0 |
| Jun 30, 2023 | 6 | $70.6M | $70.5M | 101c | 0 |
| Mar 31, 2023 | 5 | $70.7M | $70.4M | 101c | 0 |
| Dec 31, 2022 | 7 | $117M | $116M | 100c | 0 |
| Sep 30, 2022 | 3 | $54.8M | $54.0M | 99c | 0 |
| Dec 31, 2021 | 5 | $99.4M | $99.1M | 105c | 0 |
| Sep 30, 2021 | 1 | $54.6M | $54.7M | 100c | 0 |
What changed
- Facility left every BDC scheduleSep 30, 2023
- Facility left every BDC scheduleSep 30, 2023
- Facility left every BDC scheduleSep 30, 2023
- New borrower on a BDC scheduleSep 30, 2021
- Facility left every BDC scheduleSep 30, 2021
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- DRILLING INFOderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 9 BDCsderived