DFX Intelligence
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Borrower
V•••• H•••••••• L••
group grade Boff every schedule since Dec 31, 2022sponsor unattributed
Nothing material in the last 200 days. Last change: 31 Dec 2022, Consensus mark 98¢ on cost, down from 100¢ in Q4 2021, 100¢ last quarter.
Mark path, consensus per quarter end
100¢ · 100¢ · 98¢Q4 2021 to Q4 2022
Principal held
at least $43.5M
sum of BDC pieces, a lower bound
Fair value
$42.3M
98c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
1
0 equity pieces beside them
Next maturity
Mar 12, 2023
$43.5M inside 24 months
On the tape since
Dec 31, 2021
latest Dec 31, 2022
Events
4
dated, non-routine
Lender marks
each lender's own fair value over cost at Dec 31, 2022, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| C••• I••••••••• C••• | $43.5M | 98¢ | -2 pts |
Every BDC piece · 6 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| C••• I••••••••• C••• | term loan first lien S••••• S•••••• F•••• L••• D•••, 2/25/2024 M••••••• 1 | $21.1M | $19.9M 95c | S+900 bp |
| C••• I••••••••• C••• | term loan first lien S••••• S•••••• F•••• L••• D•••, 3/12/2023 M••••••• | $10.4M | $10.4M 102c | S+1000 bp |
| C••• I••••••••• C••• | term loan first lien S••••• S•••••• F•••• L••• D•••, 3/12/2023 M••••••• 2 | $10.4M | $10.4M 102c | S+1000 bp |
| C••• I••••••••• C••• | term loan first lien S••••• S•••••• F•••• L••• D•••, 2/25/2024 M••••••• 2 | $838,000 | $793,000 95c | S+900 bp |
| C••• I••••••••• C••• | term loan first lien S••••• S•••••• F•••• L••• D•••, 2/25/2024 M••••••• 3 | $838,000 | $793,000 95c | S+900 bp |
View all 6 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| C••• I••••••••• C••• | term loan first lien S••••• S•••••• F•••• L••• D••• | Not disclosed | Not disclosed | 21.50% PIK 21.50% |
Capital structure as the BDCs see it
latest quarter end Dec 31, 2022
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Dec 31, 2022 | at least $43.5M | 98c | S+1000 bp PIK 21.50% | Feb 25, 2024 | 1 |
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, 2022 | 1 | $43.5M | $42.3M | 98c | 1 |
| Sep 30, 2022 | 1 | $26.0M | $26.0M | 100c | 0 |
| Dec 31, 2021 | 1 | $24.9M | $24.9M | 100c | 0 |
What changed
- Facility left every BDC scheduleDec 31, 2022
- PIK interest appearsDec 31, 2022
- Spread changed (observed)Dec 31, 2022
- PIK interest appearsDec 31, 2022
- New borrower on a BDC scheduleDec 31, 2021
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- VESTAderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived