DFX Intelligence
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Borrower
C••• Z••••
group grade Aoff every schedule since Mar 31, 2025sponsor unattributed
Also written as: L.C
Nothing material in the last 200 days. Last change: 31 Mar 2025, $36.1M principal held by 2 lenders; matures Dec 2027.
Mark path, consensus per quarter end
101¢ · 101¢ · 101¢ · 101¢ · 100¢Q1 2024 to Q1 2025
Principal held
at least $36.0M
sum of BDC pieces, a lower bound
Fair value
$47.5M
101c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
3
0 equity pieces beside them
Next maturity
Dec 31, 2027
no dated debt inside 24 months
On the tape since
Sep 30, 2022
latest Mar 31, 2025
Events
4
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 |
|---|---|---|---|
| G•••••••• C•••••• C••• | $36.1M | 100¢ | 0 pts |
| L•••••••• S••••• U••• I••• | no principal filed | 101¢ | 0 pts |
Every BDC piece · 5 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| G•••••••• C•••••• C••• | delayed draw term loan lien unstated T••• D••• | $26.3M | $26.3M 101c | S+700 bp |
| G•••••••• C•••••• C••• | delayed draw term loan lien unstated D•••••• D••• T••• L••• | $9.8M | $9.8M 100c | S+700 bp |
| L•••••••• S••••• U••• I••• | term loan first lien F•••• lien senior secured loan 3 | Not disclosed | $8.4M 101c | S+700 bp |
| L•••••••• S••••• U••• I••• | term loan first lien F•••• lien senior secured loan 1 | Not disclosed | $3.1M 101c | S+700 bp |
| L•••••••• S••••• U••• I••• | term loan first lien F•••• lien senior secured loan 2 | Not disclosed | $0 0c | S+700 bp |
Capital structure as the BDCs see it
latest quarter end Mar 31, 2025
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| delayed draw term loan lien unstated exited Mar 31, 2025 | at least $36.0M | 100c | S+700 bp | unstated | 1 |
| other lien unstated exited Dec 31, 2022 | at least $23.5M | 100c | S+680 bp | unstated | 1 |
| first lien term loan first lien exited Mar 31, 2025 | unknown | 101c | S+700 bp | Dec 31, 2027 | 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 | $36.0M | $47.5M | 101c | 0 |
| Dec 31, 2024 | 2 | $59.7M | $59.6M | 101c | 0 |
| Sep 30, 2024 | 2 | $33.6M | $45.0M | 101c | 0 |
| Jun 30, 2024 | 2 | $32.5M | $43.6M | 101c | 0 |
All 11 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Mar 31, 2024 | 2 | $29.1M | $38.6M | 101c | 0 |
| Dec 31, 2023 | 2 | $27.6M | $36.4M | 100c | 0 |
| Sep 30, 2023 | 1 | $31.4M | $31.0M | 98c | 0 |
| Jun 30, 2023 | 1 | $27.4M | $26.9M | 98c | 0 |
| Mar 31, 2023 | 1 | $25.4M | $25.1M | 99c | 0 |
| Dec 31, 2022 | 1 | $25.4M | $25.4M | 100c | 0 |
| Sep 30, 2022 | 1 | $25.4M | $25.3M | 99c | 0 |
What changed
- Facility left every BDC scheduleMar 31, 2025
- Facility left every BDC scheduleMar 31, 2025
- Facility left every BDC scheduleDec 31, 2022
- Spread changed (observed)Dec 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
- CAF ZUPASderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived