DFX Intelligence
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Borrower
N••••••••• M••••••••• L••
group grade Aoff every schedule since Mar 31, 2024sponsor unattributed
Also written as: LLC Functional Aggregator
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
100¢ · 101¢ · 102¢ · 101¢ · 100¢Q1 2023 to Q1 2024
Principal held
at least $11.5M
sum of BDC pieces, a lower bound
Fair value
$13.8M
100c 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
Nov 15, 2025
$8.1M inside 24 months
On the tape since
Dec 31, 2021
latest Mar 31, 2024
Events
4
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 |
|---|---|---|---|
| S•••••• C•••••• I••••••••• C••• | $11.5M | 100¢ | -1 pts |
Every BDC piece · 3 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| S•••••• C•••••• I••••••••• C••• | term loan lien unstated T••• L••• Investment D••• N••••••• 15, 2018 | $8.1M | $8.1M 100c | //stelluscapital.com/20240331#Three Month Term Secured Overnight Financing Rate+621 bp |
| S•••••• C•••••• I••••••••• C••• | term loan lien unstated T••• L••• Investment D••• O•••••• 28, 2021 | $3.4M | $3.4M 101c | //stelluscapital.com/20240331#Three Month Term Secured Overnight Financing Rate+621 bp |
| S•••••• C•••••• I••••••••• C••• | equity equity LLC U•••• | Not disclosed | $2.3M 241c |
Capital structure as the BDCs see it
latest quarter end Mar 31, 2024
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 | $11.5M | $11.5M | 100c | 0 |
| Dec 31, 2023 | 1 | $12.5M | $12.5M | 101c | 0 |
| Sep 30, 2023 | 1 | $12.8M | $12.8M | 102c | 0 |
| Jun 30, 2023 | 1 | $13.5M | $13.5M | 101c | 0 |
All 8 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Mar 31, 2023 | 1 | $13.5M | $13.4M | 100c | 0 |
| Dec 31, 2022 | 1 | $14.0M | $13.8M | 99c | 0 |
| Sep 30, 2022 | 1 | $14.5M | $0 | n/a | 0 |
| Dec 31, 2021 | 1 | $11.6M | $16.4M | 100c | 0 |
What changed
- Facility left every BDC scheduleMar 31, 2024
- Spread changed (observed)Mar 31, 2024
- Spread increasedMar 31, 2024
- Spread changed (observed)Dec 31, 2023
- Spread changed (observed)Sep 30, 2023
Full timeline · 6 eventsShow fewer
- Spread increasedSep 30, 2023
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- N••••••••• M•••••••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived