DFX Intelligence
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Borrower
V•••••••• P••••• S••••• I••
Software & Tech Servicesgroup grade Aoff every schedule since Dec 31, 2024sponsor unattributed
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
100¢ · 101¢Q3 2024 to Q4 2024
Where each lender marks it on the first lien term loan, 0 points apart
101¢101¢
Principal held
at least $33.3M
sum of BDC pieces, a lower bound
Fair value
$33.3M
101c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
3
0 equity pieces beside them
Next maturity
Dec 4, 2025
$33.3M inside 24 months
On the tape since
Sep 30, 2024
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 |
|---|---|---|---|
| A• P•••••• C••••• I•••••••• C••• | $27.8M | 101¢ | +1 pts |
| A• P•••••• L•••••• F••• | $5.53M | 101¢ | +1 pts |
Every BDC piece · 8 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A• P•••••• C••••• I•••••••• C••• | term loan first lien C••••••• C•••••••• D••• | 1st L•••/S••••• S•••••• D••• | T••• L••• | 10.70% (S + 6.25%; 1. | $13.3M | $13.3M 101c | SOFR+625 bp |
| A• P•••••• C••••• I•••••••• C••• | term loan first lien C••••••• C•••••••• D••• | 1st L•••/S••••• S•••••• D••• | T••• L••• | 10.70% (S + 6.25%; 1. | $13.3M | $13.3M 101c | SOFR+625 bp |
| A• P•••••• L•••••• F••• | term loan first lien C••••••• C•••••••• D••• | 1st L•••/S••••• S•••••• D••• | T••• L••• | 10.70% (S + 6.25%; 1. | $5.1M | $5.1M 101c | SOFR+625 bp |
| A• P•••••• C••••• I•••••••• C••• | delayed draw term loan first lien C••••••• C•••••••• D••• | 1st L•••/S••••• S•••••• D••• | D•••••• D••• T••• L••• | 10.70% ( | $1.0M | $1.0M 100c | SOFR+625 bp |
| A• P•••••• L•••••• F••• | delayed draw term loan first lien C••••••• C•••••••• D••• | 1st L•••/S••••• S•••••• D••• | D•••••• D••• | 10.70% (S + 6.25%; | $416,495 | $416,495 101c | SOFR+625 bp |
View all 8 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A• P•••••• C••••• I•••••••• C••• | revolver first lien C••••••• C•••••••• D••• | 1st L•••/S••••• S•••••• D••• | R••••••• | 12.75% (S + 6.25%; 1.0 | $119,558 | $119,558 106c | SOFR+625 bp |
| A• P•••••• C••••• I•••••••• C••• | revolver first lien C••••••• C•••••••• D••• | 1st L•••/S••••• S•••••• D••• | R••••••• | 12.75% (S + 6.25%; 1.0 | $119,558 | $119,558 106c | SOFR+625 bp |
| A• P•••••• L•••••• F••• | revolver first lien C••••••• C•••••••• D••• | 1st L•••/S••••• S•••••• D••• | R••••••• | 12.75% (S + 5.25%; 1.0 | $29,357 | $29,357 107c | SOFR+525 bp |
Capital structure as the BDCs see it
latest quarter end Dec 31, 2024
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Dec 31, 2024 | at least $31.6M | 101c | SOFR+625 bp | Dec 4, 2025 | 2 |
| first lien delayed draw term loan first lien exited Dec 31, 2024 | at least $1.4M | 101c | SOFR+625 bp | Dec 4, 2025 | 2 |
| first lien revolver first lien exited Dec 31, 2024 | at least $268,473 | 106c | SOFR+525 bp | Dec 4, 2025 | 2 |
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 | 2 | $33.3M | $33.3M | 101c | 0 |
| Sep 30, 2024 | 2 | $19.9M | $19.7M | 100c | 3 |
What changed
- Facility left every BDC scheduleDec 31, 2024
- Facility left every BDC scheduleDec 31, 2024
- New lender joined a facilityDec 31, 2024
- Facility left every BDC scheduleDec 31, 2024
- New borrower on a BDC scheduleSep 30, 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
- V•••••••• P••••• S•••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived
- Industry
- Software & Tech Servicesreportedas one filer wrote it