DFX Intelligence
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Borrower
P•••••• 2•• I••
group grade Aoff every schedule since Mar 31, 2025sponsor unattributed
Also written as: P••••••; P•••••• Advanced Technologies, Inc; P•••••• Fabricators Inc; P•••••• Field Serv; P•••••• Global, LLC; Undrawn Commitment
Nothing material in the last 200 days. Last change: 31 Mar 2025, Consensus mark 103¢ on cost, up from 99¢ a year ago, 101¢ last quarter.
Mark path, consensus per quarter end
99¢ · 99¢ · 99¢ · 101¢ · 103¢Q1 2024 to Q1 2025
Where each lender marks it on the first lien term loan, 2 points apart
102¢104¢
Principal held
at least $45.3M
sum of BDC pieces, a lower bound
Fair value
$46.1M
103c on cost, debt pieces
Unfunded
$15.1M
commitments not yet drawn
BDC lenders
4
2 on the latest quarter
Facilities
3
1 equity pieces beside them
Next maturity
Nov 1, 2028
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Mar 31, 2025
Events
9
dated, non-routine
Lender marks
each lender's own fair value over cost at Mar 31, 2025, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| A••• C•••••• C••• | $24.1M | 102¢ | +2 pts |
| A••• S•••••••• I••••• F••• | $21.2M | 104¢ | +2 pts |
Every BDC piece · 6 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A••• C•••••• C••• | term loan first lien F•••• lien senior secured loan | $24.0M | $24.4M 102c | S+675 bp |
| A••• S•••••••• I••••• F••• | term loan first lien F•••• lien senior secured loan | $21.2M | $21.6M 104c | S+675 bp |
| A••• C•••••• C••• | revolver first lien F•••• lien senior secured revolving loan | $100,000 | $100,000 100c | S+400 bp |
| A••• S•••••••• I••••• F••• | revolver first lien F•••• lien senior secured revolving loan | $500 | $500 100c | S+400 bp |
| A••• C•••••• C••• | unstated lien unstated | Not disclosed | Not disclosed |
View all 6 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A••• S•••••••• I••••• F••• | unstated lien unstated | Not disclosed | Not disclosed |
Capital structure as the BDCs see it
latest quarter end Mar 31, 2025
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Mar 31, 2025 | at least $45.2M | 103c | S+675 bp | Nov 1, 2028 | 2 |
| term loan lien unstated exited Sep 30, 2022 | at least $110,100 | 19c | S+700 bp | unstated | 1 |
| first lien revolver first lien exited Mar 31, 2025 | at least $100,500 | 100c | S+400 bp | Nov 1, 2028 | 2 |
Equity pieces beside the debt: other (Not disclosed fair value, 2 BDCs)
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, 2025 | 2 | $45.3M | $46.1M | 103c | 0 |
| Dec 31, 2024 | 2 | $45.3M | $45.3M | 101c | 0 |
| Sep 30, 2024 | 2 | $45.3M | $44.4M | 99c | 0 |
| Jun 30, 2024 | 2 | $45.3M | $44.1M | 98c | 0 |
All 13 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Mar 31, 2024 | 2 | $45.3M | $44.2M | 99c | 0 |
| Dec 31, 2023 | 2 | $45.3M | $44.2M | 99c | 2 |
| Sep 30, 2023 | 1 | $12.0M | $7.4M | 100c | 0 |
| Jun 30, 2023 | 1 | $12.0M | $7.4M | 100c | 0 |
| Mar 31, 2023 | 1 | $12.0M | $7.4M | n/a | 0 |
| Dec 31, 2022 | 1 | $24.0M | $14.9M | 199c | 0 |
| Sep 30, 2022 | 1 | $110,100 | $21,300 | 19c | 0 |
| Mar 31, 2022 | 1 | $0 | $0 | n/a | 0 |
| Dec 31, 2021 | 1 | $110,100 | $30,000 | 27c | 0 |
What changed
- Facility left every BDC scheduleMar 31, 2025
- Facility left every BDC scheduleMar 31, 2025
- Mark recoveredSep 30, 2024
- Marked down across lendersJun 30, 2024
- Marked down (one lender)Jun 30, 2024
Full timeline · 15 eventsShow fewer
- Maturity extended (observed)Dec 31, 2023
- Spread changed (observed)Dec 31, 2023
- New lender joined a facilityDec 31, 2023
- New lender joined a facilityDec 31, 2023
- Maturity extended (observed)Dec 31, 2023
- New lender joined a facilityDec 31, 2023
- New lender joined a facilityDec 31, 2023
- Marked down across lendersSep 30, 2022
- Facility left every BDC scheduleSep 30, 2022
- Marked down (one lender)Sep 30, 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
- PARAGONderivedthe codename stem after legal suffixes and deal words
- Spellings
- 3 across 4 BDCsderived