DFX Intelligence
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Borrower
J• E• H••••••• L••••••
Telecommunicationsgroup grade Aoff every schedule since Sep 30, 2024sponsor unattributed
Nothing material in the last 200 days. Last change: 30 Sep 2024, $10.3M principal held by 3 lenders; matures Dec 2026.
Mark path, consensus per quarter end
101¢ · 100¢ · 100¢ · 101¢ · 101¢Q3 2023 to Q3 2024
Where each lender marks it on the first lien term loan, 3 points apart
100¢103¢
Principal held
at least $10.3M
sum of BDC pieces, a lower bound
Fair value
$10.3M
101c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
3
3 on the latest quarter
Facilities
1
0 equity pieces beside them
Next maturity
Dec 15, 2026
no dated debt inside 24 months
On the tape since
Dec 31, 2022
latest Sep 30, 2024
Events
4
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 |
|---|---|---|---|
| S••••• P•••• S•••••••• L•••••• F••• | $6.82M | 100¢ | -1 pts |
| B•• I••••••••• C••• | $2.29M | 103¢ | 0 pts |
| L•••• R•••• F•••••• C•••• | $1.15M | 103¢ | 0 pts |
Every BDC piece · 3 positions across 3 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| S••••• P•••• S•••••••• L•••••• F••• | term loan first lien 1st L•••/S•••••• L•••• I••••••••• 1st L••• T••• L••• I••••••• T••••••••• R••• S+13.00%, 1. | $6.8M | $6.8M 100c | S+1300 bp |
| B•• I••••••••• C••• | term loan first lien F•••• L•••/S••••• S•••••• D••• I••••••• R••• 17.94% R•••••••• R••• and S••••• S••• + 6.00% | $2.3M | $2.3M 103c | S+600 bp PIK 7.00% |
| L•••• R•••• F•••••• C•••• | term loan first lien F•••• L•••/S••••• S•••••• D••• I••••••• R•••••.94% R•••••••• R••• and S••••• S••• + 6.00%, | $1.1M | $1.2M 103c | S+600 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 $10.3M | 101c | S+600 bp PIK 7.00% | Dec 15, 2026 | 3 |
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 | 3 | $10.3M | $10.3M | 101c | 1 |
| Jun 30, 2024 | 3 | $10.3M | $10.3M | 101c | 1 |
| Mar 31, 2024 | 2 | $8.0M | $7.9M | 100c | 0 |
| Dec 31, 2023 | 3 | $10.1M | $10.0M | 100c | 1 |
All 8 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Sep 30, 2023 | 1 | $1.1M | $1.1M | 101c | 0 |
| Jun 30, 2023 | 1 | $1.1M | $1.1M | 101c | 0 |
| Mar 31, 2023 | 1 | $1.1M | $1.1M | 101c | 0 |
| Dec 31, 2022 | 2 | $8.5M | $8.4M | 100c | 0 |
What changed
- Facility left every BDC scheduleSep 30, 2024
- Spread changed (observed)Jun 30, 2024
- Spread changed (observed)Mar 31, 2024
- New lender joined a facilityDec 31, 2023
- New borrower on a BDC scheduleDec 31, 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
- JO ETderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 3 BDCsderived
- Industry
- Telecommunicationsreportedas one filer wrote it