DFX Intelligence
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Borrower
S••• F•••• H•••••••• L••
Also written as: S••• F••••
Principal held
at least $42.9M
sum of BDC pieces, a lower bound
Fair value
$43.0M
102c on cost, debt pieces
Unfunded
n/a
commitments not yet drawn
BDC lenders
7
4 on the latest quarter
Facilities
3
0 equity pieces beside them
Next maturity
Feb 2, 2026
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Dec 31, 2023
Events
4
dated, non-routine
Capital structure as the BDCs see it
latest quarter end Dec 31, 2023
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Dec 31, 2023 | at least $28.6M | 102c | S+375 bp | Feb 1, 2029 | 3 |
| other lien unstated exited Dec 31, 2023 | at least $13.3M | 102c | S+500 bp | Feb 23, 2029 | 2 |
| second lien term loan second lien exited Dec 31, 2023 | at least $1.0M | 99c | SOFR+675 bp | Feb 2, 2026 | 1 |
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A••• S•••••••• I••••• F••• | term loan first lien F•••• lien senior secured loan | $2.8M | $2.8M 102c | S+375 bp |
| A•••• C••••• B•• I••• | term loan second lien T••• L••• (S••••• L•••), Due 2/2/2026 | $500,000 | $496,250 99c | SOFR+675 bp |
| A•••• C••••• B•• I••• | term loan second lien Investment T••• S••••• S•••••• I•••••• T••• L••• (S••••• L•••) I•••• S+ S••••• 6.75% I•••• | $500,000 | $496,250 99c | S+675 bp |
| B••• O•• C••••• I••••• C•••• | term loan first lien F•••• lien senior secured loan | $25.8M | $25.8M 102c | S+375 bp |
| F••••••• B•• C•••••• C••• | unstated lien unstated | $6.0M | $6.0M 103c | S+500 bp |
| F••••••• B•• C•••••• C••• | unstated lien unstated | $7.4M | $7.4M 101c | S+375 bp |
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, 2023 | 4 | $42.9M | $43.0M | 102c | 0 |
| Sep 30, 2023 | 5 | $42.5M | $42.5M | 102c | 0 |
| Jun 30, 2023 | 5 | $42.6M | $42.5M | 102c | 0 |
| Mar 31, 2023 | 4 | $42.2M | $41.2M | 100c | 0 |
| Dec 31, 2022 | 6 | $62.0M | $60.1M | 99c | 0 |
| Dec 31, 2021 | 1 | $2.4M | $2.4M | 100c | 0 |
What changed
- Facility left every BDC scheduleDec 31, 2023
- Lender left a facilityDec 31, 2023
- Facility left every BDC scheduleDec 31, 2023
- Facility left every BDC scheduleDec 31, 2023
- New lender joined a facilityDec 31, 2022
- New borrower on a BDC scheduleDec 31, 2021
Sponsor
- S••• C•••••• L••
- the sponsor's own portfolio page lists a company of this nameestimatedsagecapitalllc.com"••• Locked"
- T•• S••••••• G••••• L•••
- the sponsor's own portfolio page lists a company of this nameestimatedsterling-group.com"••• Locked"
Identity
- Group key
- SAFE FLEETderivedthe codename stem after legal suffixes and deal words
- Spellings
- 2 across 7 BDCsderived
- Industry
- Industrialsreportedas one filer wrote it