DFX Intelligence
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Borrower
S••••• M•••••••• H••••••• L•• 9•• L•••••••• S••••• S•••• 4••• H•••••• T• 7•••• E••••• M•••••••• S•••••••
group grade Aoff every schedule since Dec 31, 2023sponsor unattributed
Nothing material in the last 200 days. Last change: 31 Dec 2023, Consensus mark 105¢ on cost, up from 102¢ in Q2 2023, 100¢ last quarter.
Mark path, consensus per quarter end
102¢ · 100¢ · 105¢Q2 2023 to Q4 2023
Principal held
at least $2.0M
sum of BDC pieces, a lower bound
Fair value
$2.0M
105c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
Oct 15, 2026
no dated debt inside 24 months
On the tape since
Jun 30, 2023
latest Dec 31, 2023
Events
3
dated, non-routine
Lender marks
each lender's own fair value over cost at Dec 31, 2023, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| G•••• E•• C•••••• C•••• | $2M | 105¢ | +5 pts |
Every BDC piece · 1 position across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| G•••• E•• C•••••• C•••• | term loan second lien 2nd L••• S•••••• B••• I••••••• R••• 9.00% A••••••••• D••• 10/19/2021 M••••••• 10/15/2026 | $2.0M | $2.0M 105c | 9.00% |
Capital structure as the BDCs see it
latest quarter end Dec 31, 2023
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| second lien term loan second lien exited Dec 31, 2023 | at least $2.0M | 105c | 9.00% | Oct 15, 2026 | 1 |
| unsecured or subordinated notes unsecured or subordinated exited Jun 30, 2023 | at least $386,000 | 103c | 5.75% | Apr 15, 2025 | 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, 2023 | 1 | $2.0M | $2.0M | 105c | 0 |
| Sep 30, 2023 | 1 | $4.0M | $3.8M | 100c | 0 |
| Jun 30, 2023 | 1 | $4.4M | $4.2M | 102c | 0 |
What changed
- Facility left every BDC scheduleDec 31, 2023
- New borrower on a BDC scheduleJun 30, 2023
- Facility left every BDC scheduleJun 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
- SUMMIT MIDSTREAM LOUISIANA STREET SUITE HOUSTON TX ENERGY MIDSTREAM SECURITYderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived