DFX Intelligence
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Borrower
P•••••• H••• M•••• L••
Entertainmentgroup grade Aoff every schedule since Sep 30, 2024sponsor unattributed
Nothing material in the last 200 days. Last change: 30 Sep 2024, Consensus mark 79¢ on cost, down from 97¢ a year ago, 90¢ last quarter.
Mark path, consensus per quarter end
97¢ · 97¢ · 97¢ · 90¢ · 79¢Q3 2023 to Q3 2024
Where each lender marks it on the first lien term loan, 1 point apart
78¢79¢
Principal held
at least $97.8M
sum of BDC pieces, a lower bound
Fair value
$79.4M
81c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
3
3 on the latest quarter
Facilities
1
0 equity pieces beside them
Next maturity
Dec 31, 2024
$97.8M inside 24 months
On the tape since
Dec 31, 2022
latest Sep 30, 2024
Events
8
dated, non-routine
Lender marks
each lender's own fair value over cost at Sep 30, 2024, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| G•••••• S•••• B••• I••• | $47.3M | 79¢ | -11 pts |
| S••••• C•••••• H••••••• L•• | $30M | 79¢ | -11 pts |
| G•••••• S•••• P•••••• M••••• M••••• C••••• I• L•• | $20.4M | 79¢ | -11 pts |
Every BDC piece · 9 positions across 3 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| G•••••• S•••• B••• I••• | term loan first lien 1st L•••/S••••• S•••••• D••• I••••••• E••••••••• I••••••• R••• 14.51% R•••••••• R••• and S | $42.6M | $33.2M 78c | S+900 bp PIK 2.25% |
| S••••• C•••••• H••••••• L•• | term loan first lien 1st L•••/S••••• S•••••• D••• I••••••• R••• 14.51% R•••••••• R••• and S••••• S + 9.00% (I•• | $27.0M | $21.1M 78c | S+900 bp PIK 2.25% |
| G•••••• S•••• P•••••• M••••• M••••• C••••• I• L•• | term loan first lien 1st L•••/S••••• S•••••• D••• I••••••• E••••••••• I••••••• R••• 14.51% R•••••••• R••• and S | $18.3M | $14.3M 78c | S+900 bp PIK 2.25% |
| G•••••• S•••• B••• I••• | term loan first lien 1st L•••/S••••• S•••••• D••• I••••••• E••••••••• I••••••• R••• 11.39% R•••••••• R••• and S | $2.4M | $2.4M 101c | S+675 bp |
| G•••••• S•••• B••• I••• | term loan first lien 1st L•••/S••••• S•••••• D••• I••••••• E••••••••• I••••••• R••• 11.65% R•••••••• R••• and S | $2.4M | $2.9M 120c | S+675 bp |
View all 9 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| S••••• C•••••• H••••••• L•• | term loan first lien 1st L•••/S••••• S•••••• D••• I••••••• R••• 11.65% R•••••••• R••• and S••••• S + 6.75% M••• | $1.5M | $1.8M 120c | S+675 bp |
| S••••• C•••••• H••••••• L•• | term loan first lien 1st L•••/S••••• S•••••• D••• I••••••• R••• 11.39% R•••••••• R••• and S••••• S + 6.75% M••• | $1.5M | $1.5M 100c | S+675 bp |
| G•••••• S•••• P•••••• M••••• M••••• C••••• I• L•• | term loan first lien 1st L•••/S••••• S•••••• D••• I••••••• E••••••••• I••••••• R••• 11.39% R•••••••• R••• and S | $1.0M | $1.0M 100c | S+675 bp |
| G•••••• S•••• P•••••• M••••• M••••• C••••• I• L•• | term loan first lien 1st L•••/S••••• S•••••• D••• I••••••• E••••••••• I••••••• R••• 11.65% R•••••••• R••• and S | $1.0M | $1.2M 120c | S+675 bp |
Capital structure as the BDCs see it
latest quarter end Sep 30, 2024
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Sep 30, 2024 | at least $97.8M | 81c | S+900 bp PIK 2.25% | Dec 31, 2024 | 3 |
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, 2024 | 3 | $97.8M | $79.4M | 81c | 3 |
| Jun 30, 2024 | 3 | $92.5M | $83.3M | 90c | 3 |
| Mar 31, 2024 | 3 | $92.6M | $88.9M | 97c | 3 |
| Dec 31, 2023 | 3 | $157M | $151M | 97c | 0 |
All 8 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Sep 30, 2023 | 3 | $92.9M | $89.2M | 97c | 3 |
| Jun 30, 2023 | 3 | $93.1M | $0 | n/a | 0 |
| Mar 31, 2023 | 3 | $73.9M | $0 | n/a | 0 |
| Dec 31, 2022 | 3 | $93.6M | $91.7M | 99c | 0 |
What changed
- Marked down across lendersSep 30, 2024
- Facility left every BDC scheduleSep 30, 2024
- PIK interest increasedSep 30, 2024
- Spread changed (observed)Sep 30, 2024
- Marked down (one lender)Sep 30, 2024
Full timeline · 26 eventsShow fewer
- Marked down (one lender)Sep 30, 2024
- Marked down (one lender)Sep 30, 2024
- Spread increasedSep 30, 2024
- Spread increasedSep 30, 2024
- Spread increasedSep 30, 2024
- PIK interest increasedSep 30, 2024
- PIK interest increasedSep 30, 2024
- PIK interest increasedSep 30, 2024
- Marked down across lendersJun 30, 2024
- Marked down (one lender)Jun 30, 2024
- Marked down (one lender)Jun 30, 2024
- Marked down (one lender)Jun 30, 2024
- PIK interest appearsMar 31, 2024
- PIK interest appearsMar 31, 2024
- PIK interest appearsMar 31, 2024
- PIK interest appearsMar 31, 2024
- Maturity extended (observed)Sep 30, 2023
- Maturity extended (observed)Sep 30, 2023
- Maturity extended (observed)Sep 30, 2023
- Maturity extended (observed)Sep 30, 2023
- New borrower on a BDC scheduleDec 31, 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
- PICTURE HEADderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 3 BDCsderived
- Industry
- Entertainmentreportedas one filer wrote it