DFX Intelligence
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Borrower
Z••••• B•••• L••••••
Specialized Financegroup grade Boff every schedule since Sep 30, 2023sponsor unattributed
Nothing material in the last 200 days. Last change: 30 Sep 2023, Consensus mark 89¢ on cost, up from 70¢ a year ago, 90¢ last quarter.
Mark path, consensus per quarter end
70¢ · 69¢ · 75¢ · 90¢ · 89¢Q3 2022 to Q3 2023
Principal held
at least $40.0M
sum of BDC pieces, a lower bound
Fair value
$45.8M
89c 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
Jul 23, 2026
no dated debt inside 24 months
On the tape since
Sep 30, 2022
latest Sep 30, 2023
Events
4
dated, non-routine
Lender marks
each lender's own fair value over cost at Sep 30, 2023, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| O•••••• S•••••••• L•••••• C••• | $40M | 89¢ | -1 pts |
Every BDC piece · 2 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| O•••••• S•••••••• L•••••• C••• | term loan second lien S••••• L••• T••• L••• | $20.0M | $22.9M 89c | S+750 bp |
| O•••••• S•••••••• L•••••• C••• | term loan second lien S••••• L••• T••• L••• | $20.0M | $22.9M 89c | S+750 bp |
Capital structure as the BDCs see it
latest quarter end Sep 30, 2023
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| second lien term loan second lien exited Sep 30, 2023 | at least $40.0M | 89c | S+750 bp | Jul 23, 2026 | 1 |
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, 2023 | 1 | $40.0M | $45.8M | 89c | 0 |
| Jun 30, 2023 | 1 | $20.0M | $23.3M | 90c | 0 |
| Mar 31, 2023 | 1 | $20.0M | $19.4M | 75c | 0 |
| Dec 31, 2022 | 1 | $18.0M | $16.4M | 69c | 0 |
All 5 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Sep 30, 2022 | 1 | $36.0M | $33.1M | 70c | 0 |
What changed
- Facility left every BDC scheduleSep 30, 2023
- Mark recoveredJun 30, 2023
- Mark recoveredMar 31, 2023
- 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
- ZEPHYR #UKderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived
- Industry
- Specialized Financereportedas one filer wrote it