DFX Intelligence
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Borrower
H••••• S••••••• H•••••••• I••
Diversified Financial Servicesgroup grade Aoff every schedule since Dec 31, 2024sponsor unattributed
Also written as: ION Corporates
Nothing material in the last 200 days. Last change: 31 Dec 2024, Consensus mark 74¢ on cost, down from 101¢ a year ago, 102¢ last quarter.
Mark path, consensus per quarter end
101¢ · 102¢ · 100¢ · 102¢ · 74¢Q3 2023 to Q4 2024
Principal held
at least $7.8M
sum of BDC pieces, a lower bound
Fair value
$5.6M
74c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
4
1 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
Jul 18, 2030
no dated debt inside 24 months
On the tape since
Dec 31, 2022
latest Dec 31, 2024
Events
4
dated, non-routine
Lender marks
each lender's own fair value over cost at Dec 31, 2024, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| P••••• S••••• C•••••• B•• I••• | $7.84M | 74¢ | -28 pts |
Every BDC piece · 1 position across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| P••••• S••••• C•••••• B•• I••• | term loan first lien F•••• L••• S••••• S•••••• I••••••• D••••••••• Financial Services I••••••• R••• 9.70% (S + | $7.8M | $5.6M 74c | SOFR+350 bp |
Capital structure as the BDCs see it
latest quarter end Dec 31, 2024
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| other lien unstated exited Mar 31, 2024 | at least $11.8M | 100c | S+375 bp | Mar 11, 2028 | 1 |
| first lien term loan first lien exited Dec 31, 2024 | at least $7.8M | 74c | SOFR+350 bp | Jul 18, 2030 | 1 |
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, 2024 | 1 | $7.8M | $5.6M | 74c | 0 |
| Sep 30, 2024 | 1 | $3.9M | $3.8M | 102c | 0 |
| Mar 31, 2024 | 1 | $11.8M | $11.7M | 100c | 0 |
| Dec 31, 2023 | 4 | $25.5M | $25.5M | 102c | 0 |
All 8 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Sep 30, 2023 | 3 | $23.0M | $22.9M | 101c | 0 |
| Jun 30, 2023 | 1 | $16.7M | $16.5M | 100c | 0 |
| Mar 31, 2023 | 1 | $16.7M | $16.3M | 99c | 0 |
| Dec 31, 2022 | 1 | $16.7M | $16.4M | 99c | 0 |
What changed
- Facility left every BDC scheduleDec 31, 2024
- Marked down across lendersDec 31, 2024
- Marked down (one lender)Dec 31, 2024
- Spread changed (observed)Sep 30, 2024
- Facility left every BDC scheduleMar 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
- HELIOS SOFTWAREderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 4 BDCsderived
- Industry
- Diversified Financial Servicesreportedas one filer wrote it