DFX Intelligence
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Borrower
A••••••• L••••••• T••••••••• I••
Electrical Equipmentgroup grade Aoff every schedule since Dec 31, 2022sponsor unattributed
Nothing material in the last 200 days. Last change: 31 Dec 2022, Non-accrual at 2 of 2 lenders on the latest schedules.
Mark path, consensus per quarter end
61¢ · 30¢ · 41¢Q4 2021 to Q4 2022
Principal held
at least $34.1M
sum of BDC pieces, a lower bound
Fair value
$8.9M
37c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
2
3 equity pieces beside them
Next maturity
Mar 16, 2027
no dated debt inside 24 months
On the tape since
Dec 31, 2020
latest Dec 31, 2022
Events
5
dated, non-routine
Lender marks
each lender's own fair value over cost at Dec 31, 2022, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| F• K•• C•••••• C••• | $27M | 32¢ | +2 pts |
| B•••••••• C•••••• I••••••••• C••• | $7.09M | 76¢ | new this quarter |
Every BDC piece · 7 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| F• K•• C•••••• C••• | term loan second lien | $13.5M | $3.4M 32c | PIK 16.00% |
| F• K•• C•••••• C••• | term loan second lien | $13.5M | $3.4M 32c | PIK 16.00% |
| B•••••••• C•••••• I••••••••• C••• | term loan second lien D••• Investments | S••••• L••• Sr S•••••• N•••• | L••••(M) | S••••• 16.00% PIK + 6.00% C•• | $2.4M | $708,823 76c | S+1600 bp PIK 16.00% |
| B•••••••• C•••••• I••••••••• C••• | term loan second lien D••• Investments | S••••• L••• Sr S•••••• N•••• | S••••• 8.50% C••• + 3.00% PIK | M••••••• | $2.4M | $708,823 76c | S+850 bp PIK 16.00% |
| B•••••••• C•••••• I••••••••• C••• | term loan second lien S••••• L••• Sr S•••••• N•••• L••••(M) F•••• R••• 2.00% and S••••• 16.00% PIK + 6.00% C••• | $2.4M | $708,823 76c | S+1600 bp PIK 16.00% |
View all 7 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B•••••••• C•••••• I••••••••• C••• | term loan first lien S••••• S•••••• N•••• I•••••• A••••••••• D••• 3/16/2021 | Not disclosed | Not disclosed | |
| B•••••••• C•••••• I••••••••• C••• | term loan first lien S••••• S•••••• N•••• | Not disclosed | Not disclosed |
Capital structure as the BDCs see it
latest quarter end Dec 31, 2022
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| second lien term loan second lien exited Dec 31, 2022 | at least $34.1M | 37c | S+1600 bp PIK 16.00% | Mar 16, 2027 | 2 |
| first lien term loan first lien exited Dec 31, 2022 | unknown | n/a | unstated | 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, 2022 | 2 | $34.1M | $8.9M | 37c | 5 |
| Sep 30, 2022 | 1 | $12.8M | $3.2M | 30c | 0 |
| Dec 31, 2021 | 1 | $11.3M | $6.4M | 61c | 0 |
| Dec 31, 2020 | 1 | $0 | $0 | n/a | 0 |
What changed
- Mark recoveredDec 31, 2022
- New lender joined a facilityDec 31, 2022
- Facility left every BDC scheduleDec 31, 2022
- PIK interest appearsDec 31, 2022
- PIK interest appearsDec 31, 2022
Full timeline · 8 eventsShow fewer
- Facility left every BDC scheduleDec 31, 2022
- Marked down across lendersSep 30, 2022
- Marked down (one lender)Sep 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
- A••••••• L••••••• T•••••••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived
- Industry
- Electrical Equipmentreportedas one filer wrote it