DFX Intelligence
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Borrower
A••••••• S•••••••• M••••• L••
Also written as: STS A•••••••
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
101¢ · 102¢ · 102¢ · 102¢ · 102¢Q3 2023 to Q3 2024
Where each lender marks it on the first lien term loan, 0 points apart
102¢102¢
Principal held
at least $277M
sum of BDC pieces, a lower bound
Fair value
$282M
102c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
1
0 equity pieces beside them
Next maturity
Jan 1, 2026
$277M inside 24 months
On the tape since
Dec 31, 2021
latest Sep 30, 2024
Events
5
dated, non-routine
Lender marks
each lender's own fair value over cost at Sep 30, 2024, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| B••• O•• C•••••• C••• | $235M | 102¢ | 0 pts |
| B••• O•• C•••••• C••• I• | $41.5M | 102¢ | 0 pts |
Every BDC piece · 2 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••• O•• C•••••• C••• | term loan first lien F•••• lien senior secured loan | $235M | $240M 102c | S+725 bp |
| B••• O•• C•••••• C••• I• | term loan first lien F•••• lien senior secured loan | $41.5M | $42.4M 102c | S+725 bp |
Capital structure as the BDCs see it
latest quarter end Sep 30, 2024
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Sep 30, 2024 | at least $277M | 102c | S+725 bp | Jan 1, 2026 | 2 |
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Sep 30, 2024 | 2 | $277M | $282M | 102c | 0 |
| Jun 30, 2024 | 2 | $278M | $283M | 102c | 0 |
| Mar 31, 2024 | 2 | $257M | $262M | 102c | 0 |
| Dec 31, 2023 | 2 | $248M | $252M | 102c | 0 |
All 10 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Sep 30, 2023 | 1 | $37.3M | $37.6M | 101c | 0 |
| Jun 30, 2023 | 2 | $249M | $248M | 100c | 0 |
| Mar 31, 2023 | 2 | $250M | $243M | 98c | 0 |
| Dec 31, 2022 | 2 | $250M | $241M | 97c | 0 |
| Sep 30, 2022 | 1 | $213M | $206M | 97c | 0 |
| Dec 31, 2021 | 1 | $215M | $203M | 96c | 0 |
What changed
- Facility left every BDC scheduleSep 30, 2024
- Spread changed (observed)Sep 30, 2024
- Spread increasedSep 30, 2024
- Spread increasedSep 30, 2024
- Spread changed (observed)Jun 30, 2024
Full timeline · 10 eventsShow fewer
- Maturity extended (observed)Mar 31, 2024
- Maturity extended (observed)Mar 31, 2024
- Maturity extended (observed)Mar 31, 2024
- New lender joined a facilityDec 31, 2022
- New borrower on a BDC scheduleDec 31, 2021
Sponsor
Possible relationship, not established: H••••• C••••••• L••, because a company of this name is on the sponsor's portfolio page (confidence 0.65). No deal announcement or filing names it as a party, so it is not shown as this borrower’s sponsor.
- H••••• C••••••• L••
- the sponsor's own portfolio page lists a company of this nameestimatedhig.com"••• Locked"
- G••••••••• E••••• G••••
- the sponsor's own portfolio page lists a company of this nameestimatedgreenbriar.com"••• Locked"
Identity
- Group key
- AVIATION SOLUTIONSderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived