DFX Intelligence
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Borrower
W• M••••• R• D••• L••
group grade Aoff every schedule since Mar 31, 2024sponsor unattributed
Also written as: W3 M••••• R E D••• L L C
Nothing material in the last 200 days. Last change: 31 Mar 2024, $6.27M principal held by 2 lenders; matures Feb 2028.
Mark path, consensus per quarter end
99¢ · 99¢ · 99¢ · 103¢ · 102¢Q1 2023 to Q1 2024
Where each lender marks it on the first lien term loan, 0 points apart
102¢102¢
Principal held
at least $6.3M
sum of BDC pieces, a lower bound
Fair value
$6.3M
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
Feb 4, 2028
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Mar 31, 2024
Events
5
dated, non-routine
Lender marks
each lender's own fair value over cost at Mar 31, 2024, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| M••••• C•••••• C••• | $3.91M | 102¢ | 0 pts |
| M••••• C•••••• I••••• P••• C••• | $2.37M | 102¢ | -1 pts |
Every BDC piece · 4 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| M••••• C•••••• C••• | term loan first lien S••••• S•••••• L•••• | $3.6M | $3.7M 102c | PIK 10.00% |
| M••••• C•••••• I••••• P••• C••• | term loan first lien S••••• S•••••• L•••• | $2.2M | $2.2M 102c | PIK 10.00% |
| M••••• C•••••• C••• | delayed draw term loan first lien S••••• S•••••• L••••, D•••••• D••• | $274,000 | $231,000 102c | PIK 10.00% |
| M••••• C•••••• I••••• P••• C••• | delayed draw term loan first lien S••••• S•••••• L••••, D•••••• D••• | $166,000 | $140,000 102c | PIK 10.00% |
Capital structure as the BDCs see it
latest quarter end Mar 31, 2024
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Mar 31, 2024 | at least $5.8M | 102c | PIK 10.00% | Feb 4, 2028 | 2 |
| first lien delayed draw term loan first lien exited Mar 31, 2024 | at least $440,000 | 102c | PIK 10.00% | Feb 4, 2028 | 2 |
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, 2024 | 2 | $6.3M | $6.3M | 102c | 4 |
| Dec 31, 2023 | 2 | $8.9M | $8.7M | 103c | 8 |
| Sep 30, 2023 | 2 | $5.8M | $5.6M | 99c | 4 |
| Jun 30, 2023 | 2 | $5.5M | $5.4M | 99c | 4 |
All 8 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Mar 31, 2023 | 2 | $5.4M | $5.3M | 99c | 2 |
| Dec 31, 2022 | 2 | $10.3M | $10.3M | 100c | 3 |
| Sep 30, 2022 | 1 | $3.1M | $3.1M | 100c | 0 |
| Dec 31, 2021 | 1 | $2.9M | $2.9M | 100c | 1 |
What changed
- Facility left every BDC scheduleMar 31, 2024
- Facility left every BDC scheduleMar 31, 2024
- PIK interest appearsJun 30, 2023
- PIK interest appearsJun 30, 2023
- PIK interest appearsJun 30, 2023
Full timeline · 9 eventsShow fewer
- PIK interest appearsDec 31, 2022
- New lender joined a facilityDec 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
- W• M••••• R• D•••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 2 across 2 BDCsderived