DFX Intelligence
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Borrower
Y•• A••••• L••
Construction & Buildinggroup grade Aoff every schedule since Dec 31, 2023sponsor unattributed
Also written as: Capital Goods; Undrawn Commitment
Nothing material in the last 200 days. Last change: 31 Dec 2023, Consensus mark 109¢ on cost, up from 96¢ a year ago, 108¢ last quarter.
Mark path, consensus per quarter end
96¢ · 100¢ · 100¢ · 108¢ · 109¢Q4 2022 to Q4 2023
Principal held
at least $25.6M
sum of BDC pieces, a lower bound
Fair value
$21.8M
109c on cost, debt pieces
Unfunded
$3.8M
commitments not yet drawn
BDC lenders
3
2 on the latest quarter
Facilities
2
1 equity pieces beside them
Next maturity
Sep 10, 2027
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Dec 31, 2023
Events
6
dated, non-routine
Lender marks
each lender's own fair value over cost at Dec 31, 2023, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| C••• I••••••••• C••• | $20.6M | 110¢ | 0 pts |
| M••••• F•••••••• I••••••••• C••• | $5M | 103¢ | +3 pts |
Every BDC piece · 4 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| C••• I••••••••• C••• | term loan first lien S••••• S•••••• F•••• L••• D•••, 3/10/2028 M••••••• | $20.6M | $20.6M 110c | S+640 bp |
| M••••• F•••••••• I••••••••• C••• | revolver first lien F•••• L••• S•••••• D••• - R••••••• S•••+486, 1.00% F•••• M••••••• D••• 09/10/27 | $5.0M | $1.2M 103c | S+486 bp |
| M••••• F•••••••• I••••••••• C••• | unstated lien unstated | Not disclosed | Not disclosed | |
| M••••• F•••••••• I••••••••• C••• | unstated lien unstated | Not disclosed | Not disclosed |
Capital structure as the BDCs see it
latest quarter end Dec 31, 2023
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Dec 31, 2023 | at least $20.6M | 110c | S+640 bp | Mar 10, 2028 | 1 |
| first lien revolver first lien exited Dec 31, 2023 | at least $5.0M | 103c | S+486 bp | Sep 10, 2027 | 1 |
Equity pieces beside the debt: other (Not disclosed 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 |
|---|---|---|---|---|---|
| Dec 31, 2023 | 2 | $25.6M | $21.8M | 109c | 0 |
| Sep 30, 2023 | 2 | $21.3M | $17.5M | 109c | 0 |
| Jun 30, 2023 | 2 | $8.0M | $4.1M | 100c | 0 |
| Mar 31, 2023 | 2 | $8.0M | $4.2M | 140c | 0 |
All 6 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Dec 31, 2022 | 1 | $9.8M | $6.3M | 96c | 0 |
| Sep 30, 2022 | 1 | $4.9M | $3.2M | 101c | 0 |
What changed
- Facility left every BDC scheduleDec 31, 2023
- Facility left every BDC scheduleDec 31, 2023
- Spread changed (observed)Mar 31, 2023
- Maturity extended (observed)Mar 31, 2023
- Spread increasedMar 31, 2023
Full timeline · 8 eventsShow fewer
- Maturity extended (observed)Mar 31, 2023
- Spread changed (observed)Dec 31, 2022
- New borrower on a BDC scheduleDec 31, 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
- Y•• A•••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 3 BDCsderived
- Industry
- Construction & Buildingreportedas one filer wrote it