DFX Intelligence
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Borrower
M•••••• W••••••••• L••
Air Freight & Logisticsgroup grade Aoff every schedule since Mar 31, 2024sponsor not established · possible relationship
Nothing material in the last 200 days. Last change: 31 Mar 2024, Consensus mark 96¢ on cost, down from 100¢ in Q1 2023, 99¢ last quarter.
Mark path, consensus per quarter end
100¢ · 100¢ · 99¢ · 96¢Q1 2023 to Q1 2024
Principal held
at least $126M
sum of BDC pieces, a lower bound
Fair value
$122M
96c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
3
0 equity pieces beside them
Next maturity
Dec 30, 2028
no dated debt inside 24 months
On the tape since
Jun 30, 2022
latest Mar 31, 2024
Events
4
dated, non-routine
Lender marks
each lender's own fair value over cost at Mar 31, 2024, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| P••••••• C•••••• C••• | $126M | 96¢ | -3 pts |
Every BDC piece · 3 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| P••••••• C•••••• C••• | term loan second lien S••••• L••• T••• L••• | $95.0M | $90.4M 95c | S+850 bp |
| P••••••• C•••••• C••• | term loan first lien F•••• L••• T••• L••• | $30.2M | $30.2M 100c | S+550 bp |
| P••••••• C•••••• C••• | delayed draw term loan first lien F•••• L••• D•••••• D••• T••• L••• | $1.2M | $1.2M 102c | S+550 bp |
Capital structure as the BDCs see it
latest quarter end Mar 31, 2024
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| second lien term loan second lien exited Mar 31, 2024 | at least $95.0M | 95c | S+850 bp | unstated | 1 |
| first lien term loan first lien exited Mar 31, 2024 | at least $30.2M | 100c | S+550 bp | unstated | 1 |
| first lien delayed draw term loan first lien exited Mar 31, 2024 | at least $1.2M | 102c | S+550 bp | Dec 30, 2028 | 1 |
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, 2024 | 1 | $126M | $122M | 96c | 0 |
| Dec 31, 2023 | 1 | $126M | $125M | 99c | 0 |
| Jun 30, 2023 | 1 | $126M | $126M | 100c | 0 |
| Jun 1, 2023 | 1 | $0 | $0 | n/a | 0 |
All 9 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Mar 31, 2023 | 1 | $125M | $125M | 100c | 0 |
| Dec 31, 2022 | 1 | $127M | $127M | 100c | 0 |
| Oct 26, 2022 | 1 | $0 | $0 | n/a | 0 |
| Sep 30, 2022 | 1 | $125M | $125M | 100c | 0 |
| Jun 30, 2022 | 1 | $125M | $125M | 100c | 0 |
What changed
- Facility left every BDC scheduleMar 31, 2024
- Facility left every BDC scheduleMar 31, 2024
- Facility left every BDC scheduleMar 31, 2024
- New borrower on a BDC scheduleJun 30, 2022
Sponsor
Possible relationship, not established: L••••••••• • C••• L••, because a company of this name is on the sponsor's portfolio page (confidence 0.7). No deal announcement or filing names it as a party, so it is not shown as this borrower’s sponsor.
- L••••••••• • C••• L••
- the sponsor's own portfolio page lists a company of this nameestimatedlittlejohnllc.com"••• Locked"
Identity
- Group key
- M•••••• W••••••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived
- Industry
- Air Freight & Logisticsreportedas one filer wrote it