DFX Intelligence
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Borrower
M••••• C•••••• M•• C•• X• L••
Structured finance (CLO)group grade Aoff every schedule since Mar 31, 2025sponsor unattributed
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
106¢ · 105¢ · 103¢ · 102¢ · 102¢Q1 2024 to Q1 2025
Principal held
at least $2.0M
sum of BDC pieces, a lower bound
Fair value
$2.0M
102c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
unstated
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Mar 31, 2025
Events
5
dated, non-routine
Lender marks
each lender's own fair value over cost at Mar 31, 2025, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| O•• C•••••• C••• | $1M | 102¢ | 0 pts |
| H•••••• P••• C•••••••• I•••••• I••• | $1M | 102¢ | 0 pts |
Every BDC piece · 2 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| H•••••• P••• C•••••••• I•••••• I••• | subordinated debt unsecured or subordinated M•••••••• D••• - C•••• E-R | $1.0M | $999,986 102c | S+875 bp |
| O•• C•••••• C••• | subordinated debt unsecured or subordinated M•••••••• D••• - C•••• E-R | $1.0M | $1.0M 102c | S+875 bp |
Capital structure as the BDCs see it
latest quarter end Mar 31, 2025
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| unsecured or subordinated subordinated debt unsecured or subordinated exited Mar 31, 2025 | at least $2.0M | 102c | S+875 bp | unstated | 2 |
| unsecured or subordinated notes unsecured or subordinated exited Dec 31, 2021 | at least $1.0M | 105c | S+885 bp | unstated | 1 |
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, 2025 | 2 | $2.0M | $2.0M | 102c | 0 |
| Dec 31, 2024 | 2 | $4.0M | $4.0M | 102c | 0 |
| Sep 30, 2024 | 2 | $2.0M | $2.0M | 103c | 0 |
| Jun 30, 2024 | 2 | $2.0M | $2.0M | 105c | 0 |
All 12 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Mar 31, 2024 | 2 | $2.0M | $2.0M | 106c | 0 |
| Dec 31, 2023 | 2 | $3.0M | $2.9M | 101c | 0 |
| Sep 30, 2023 | 2 | $2.0M | $1.9M | 98c | 0 |
| Jun 30, 2023 | 2 | $2.0M | $1.9M | 98c | 0 |
| Mar 31, 2023 | 2 | $2.0M | $1.9M | 100c | 0 |
| Dec 31, 2022 | 2 | $2.0M | $1.7M | 92c | 0 |
| Sep 30, 2022 | 1 | $1.0M | $872,000 | 93c | 0 |
| Dec 31, 2021 | 1 | $2.0M | $2.0M | 105c | 0 |
What changed
- Facility left every BDC scheduleMar 31, 2025
- Mark recoveredMar 31, 2023
- Marked down across lendersSep 30, 2022
- Marked down (one lender)Sep 30, 2022
- New borrower on a BDC scheduleDec 31, 2021
Full timeline · 6 eventsShow fewer
- Facility left every 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
- M••••• C•••••• M•• C•• X•derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived
- Industry
- Structured finance (CLO)reportedas one filer wrote it