DFX Intelligence
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Borrower
S•••••• S•••••• L••
group grade Aoff every schedule since Mar 31, 2023sponsor unattributed
Also written as: Sponsor
Nothing material in the last 200 days. Last change: 31 Mar 2023, Consensus mark 102¢ on cost, up from 100¢ in Q4 2022.
Mark path, consensus per quarter end
100¢ · 102¢Q4 2022 to Q1 2023
Principal held
at least $1.0M
sum of BDC pieces, a lower bound
Fair value
$1.0M
102c on cost, debt pieces
Unfunded
$23,000
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
3
1 equity pieces beside them
Next maturity
Sep 17, 2027
no dated debt inside 24 months
On the tape since
Dec 31, 2022
latest Mar 31, 2023
Events
5
dated, non-routine
Lender marks
each lender's own fair value over cost at Mar 31, 2023, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| A• T••• B•••• B••• I••• | $1.04M | 102¢ | +2 pts |
Every BDC piece · 4 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A• T••• B•••• B••• I••• | term loan first lien F•••• lien senior secured term loan | $922,000 | $922,000 102c | S+425 bp |
| A• T••• B•••• B••• I••• | revolver first lien F•••• lien senior secured revolving loan | $113,000 | $90,000 102c | S+425 bp |
| A• T••• B•••• B••• I••• | unstated lien unstated | Not disclosed | Not disclosed | |
| A• T••• B•••• B••• I••• | notes unsecured or subordinated subordinated note | Not disclosed | $6,000 120c | 19.50% PIK 7.00% |
Capital structure as the BDCs see it
latest quarter end Mar 31, 2023
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Mar 31, 2023 | at least $922,000 | 102c | S+425 bp | unstated | 1 |
| first lien revolver first lien exited Mar 31, 2023 | at least $113,000 | n/a | S+425 bp | unstated | 1 |
| unsecured or subordinated notes unsecured or subordinated exited Mar 31, 2023 | unknown | n/a | 19.50% PIK 7.00% | unstated | 1 |
Equity pieces beside the debt: other (Not disclosed fair value, 1 BDC)
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, 2023 | 1 | $1.0M | $1.0M | 102c | 1 |
| Dec 31, 2022 | 1 | $1.0M | $997,000 | 100c | 1 |
What changed
- Spread changed (observed)Mar 31, 2023
- Facility left every BDC scheduleMar 31, 2023
- Facility left every BDC scheduleMar 31, 2023
- Facility left every BDC scheduleMar 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
- S•••••• S•••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived