DFX Intelligence
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Borrower
F••••••• U• L••
group grade Aoff every schedule since Mar 31, 2024sponsor unattributed
Also written as: F••••••• U• L••.1; F••••••• U• L••.2; F••••••• U• L••.3
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
105¢ · 105¢ · 106¢ · 107¢ · 106¢Q1 2023 to Q1 2024
Principal held
at least $169M
sum of BDC pieces, a lower bound
Fair value
$74.3M
108c on cost, debt pieces
Unfunded
$11.6M
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
Jul 9, 2029
no dated debt inside 24 months
On the tape since
Sep 30, 2022
latest Mar 31, 2024
Events
3
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 |
|---|---|---|---|
| B••••••••• P•••••• C••••• F••• | $169M | 106¢ | -1 pts |
Every BDC piece · 7 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••••••••• P•••••• C••••• F••• | delayed draw term loan lien unstated | $113M | $10.5M 100c | S+475 bp |
| B••••••••• P•••••• C••••• F••• | delayed draw term loan lien unstated | $31.7M | $34.2M 108c | S+475 bp |
| B••••••••• P•••••• C••••• F••• | delayed draw term loan lien unstated | $10.7M | $11.8M 110c | S+475 bp |
| B••••••••• P•••••• C••••• F••• | delayed draw term loan lien unstated | $8.9M | $11.2M 107c | S+475 bp |
| B••••••••• P•••••• C••••• F••• | delayed draw term loan lien unstated | $3.5M | $3.9M 111c | S+475 bp |
View all 7 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••••••••• P•••••• C••••• F••• | delayed draw term loan lien unstated | $1.6M | $2.6M 155c | S+475 bp |
| B••••••••• P•••••• C••••• F••• | delayed draw term loan lien unstated D•••••• D••• T••• L••• | Not disclosed | Not disclosed | S+475 bp |
Capital structure as the BDCs see it
latest quarter end Mar 31, 2024
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| delayed draw term loan lien unstated exited Mar 31, 2024 | at least $169M | 108c | S+475 bp | Jul 9, 2029 | 1 |
| other lien unstated exited Dec 31, 2022 | at least $165M | 106c | S+550 bp | Jul 9, 2029 | 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 | $169M | $74.3M | 108c | 0 |
| Dec 31, 2023 | 1 | $169M | $76.9M | 112c | 0 |
| Sep 30, 2023 | 1 | $167M | $70.3M | 106c | 0 |
| Jun 30, 2023 | 1 | $164M | $67.6M | 109c | 0 |
All 7 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Mar 31, 2023 | 1 | $165M | $66.8M | 107c | 0 |
| Dec 31, 2022 | 1 | $165M | $66.0M | 106c | 0 |
| Sep 30, 2022 | 1 | $165M | $60.5M | 96c | 0 |
What changed
- Facility left every BDC scheduleMar 31, 2024
- Facility left every BDC scheduleDec 31, 2022
- 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
- FORTERRO #UKderivedthe codename stem after legal suffixes and deal words
- Spellings
- 4 across 1 BDCderived