DFX Intelligence
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Borrower
T•• S••••••• A••••••••• C•••
group grade Aoff every schedule since Mar 31, 2025sponsor unattributed
Also written as: T J C S••••••• A••••••••• Corp
Nothing material in the last 200 days. Last change: 31 Mar 2025, Non-accrual at 2 of 2 lenders on the latest schedules.
Mark path, consensus per quarter end
73¢ · 33¢Q4 2024 to Q1 2025
Where each lender marks it on the first lien term loan, 0 points apart
33¢33¢
Principal held
at least $18.5M
sum of BDC pieces, a lower bound
Fair value
$6.1M
33c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
3
2 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
May 6, 2028
no dated debt inside 24 months
On the tape since
Sep 30, 2022
latest Mar 31, 2025
Events
6
dated, non-routine
Lender marks
each lender's own fair value over cost at Mar 31, 2025, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| N••••• C•••••••• D••••• L•••••• C•••• | $14.6M | 33¢ | -40 pts |
| N••••• C•••••••• P•••••• C•••••• I••••• F••• | $3.88M | 33¢ | -40 pts |
Every BDC piece · 2 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| N••••• C•••••••• D••••• L•••••• C•••• | term loan first lien | $14.6M | $4.8M 33c | S+475 bp |
| N••••• C•••••••• P•••••• C•••••• I••••• F••• | term loan first lien | $3.9M | $1.3M 33c | S+475 bp |
Capital structure as the BDCs see it
latest quarter end Mar 31, 2025
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| other lien unstated exited Dec 31, 2024 | at least $18.5M | 73c | S+475 bp | May 6, 2028 | 2 |
| first lien term loan first lien exited Mar 31, 2025 | at least $18.5M | 33c | S+475 bp | May 6, 2028 | 2 |
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, 2025 | 2 | $18.5M | $6.1M | 33c | 0 |
| Dec 31, 2024 | 2 | $37.0M | $26.9M | 73c | 0 |
| Sep 30, 2023 | 1 | $0 | $0 | n/a | 0 |
| Jun 30, 2023 | 1 | $0 | $0 | n/a | 0 |
All 5 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Dec 31, 2022 | 1 | $0 | $0 | n/a | 0 |
What changed
- Facility left every BDC scheduleMar 31, 2025
- Marked down across lendersMar 31, 2025
- Placed on non-accrualMar 31, 2025
- Placed on non-accrualMar 31, 2025
- Marked down (one lender)Mar 31, 2025
Full timeline · 10 eventsShow fewer
- Marked down (one lender)Mar 31, 2025
- Facility left every BDC scheduleDec 31, 2024
- New lender joined a facilityDec 31, 2024
- New lender joined a facilityDec 31, 2024
- New borrower on a BDC scheduleSep 30, 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
- TJC SPARTECHderivedthe codename stem after legal suffixes and deal words
- Spellings
- 2 across 3 BDCsderived