DFX Intelligence
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Borrower
C••••••••• P••••••••• O••••••••• I••
Business Servicesgroup grade Aoff every schedule since Jun 30, 2024sponsor unattributed
Also written as: 2024; 31; Inc.Maturity 8; Inc.Maturity 8/31/2024
Nothing material in the last 200 days. Last change: 30 Jun 2024, Consensus mark 100¢ on cost, up from 97¢ a year ago, 97¢ last quarter.
Mark path, consensus per quarter end
97¢ · 97¢ · 97¢ · 97¢ · 100¢Q2 2023 to Q2 2024
Principal held
at least $9.3M
sum of BDC pieces, a lower bound
Fair value
$9.3M
100c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
Aug 31, 2024
$9.3M inside 24 months
On the tape since
Sep 30, 2022
latest Jun 30, 2024
Events
7
dated, non-routine
Lender marks
each lender's own fair value over cost at Jun 30, 2024, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| P••••••••• F••••••• R••• C•••••• L••• | $9.34M | 100¢ | +3 pts |
Every BDC piece · 2 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| P••••••••• F••••••• R••• C•••••• L••• | term loan first lien F•••• L••• S•••••• D••• M••••••• 08/31/2024 I••••••• B••••••• Services C•••••• C••••• 13.1 | $9.1M | $9.1M 100c | S+775 bp PIK 1.00% |
| P••••••••• F••••••• R••• C•••••• L••• | term loan first lien F•••• L••• S••••• S•••••• D••• M••••••• 08/31/2024 I••••••• B••••••• Services C•••••• C••• | $235,000 | $234,000 100c | S+785 bp PIK 2.00% |
Capital structure as the BDCs see it
latest quarter end Jun 30, 2024
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Jun 30, 2024 | at least $9.3M | 100c | S+785 bp PIK 2.00% | Aug 31, 2024 | 1 |
| first lien revolver first lien exited Jun 30, 2023 | at least $712,000 | n/a | S+675 bp | Aug 31, 2023 | 1 |
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2024 | 1 | $9.3M | $9.3M | 100c | 2 |
| Mar 31, 2024 | 1 | $9.4M | $9.0M | 97c | 2 |
| Dec 31, 2023 | 1 | $9.5M | $9.1M | 97c | 1 |
| Sep 30, 2023 | 1 | $18.9M | $18.4M | 97c | 3 |
All 7 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2023 | 1 | $9.9M | $8.8M | 96c | 1 |
| Mar 31, 2023 | 1 | $9.9M | $8.9M | 97c | 1 |
| Sep 30, 2022 | 1 | $20.0M | $18.7M | 97c | 2 |
What changed
- Facility left every BDC scheduleJun 30, 2024
- PIK interest increasedMar 31, 2024
- PIK interest increasedMar 31, 2024
- Spread changed (observed)Dec 31, 2023
- Spread increasedDec 31, 2023
Full timeline · 11 eventsShow fewer
- Maturity extended (observed)Sep 30, 2023
- Maturity extended (observed)Sep 30, 2023
- Facility left every BDC scheduleJun 30, 2023
- Spread changed (observed)Mar 31, 2023
- Spread increasedMar 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
- C••••••••• P••••••••• O•••••••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived
- Industry
- Business Servicesreportedas one filer wrote it