DFX Intelligence
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Borrower
R••• a•• B•••• U••••••• B•••• G•••• M•••• L••
Consumer Staples Distribution & Retailgroup grade Aoff every schedule since Sep 30, 2024sponsor unattributed
Nothing material in the last 200 days. Last change: 30 Sep 2024, $51M principal held by 1 lender; matures Aug 2027.
Mark path, consensus per quarter end
99¢ · 100¢ · 100¢ · 99¢ · 99¢Q2 2023 to Q3 2024
Principal held
at least $51.0M
sum of BDC pieces, a lower bound
Fair value
$50.2M
99c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
3
1 equity pieces beside them
Next maturity
Aug 13, 2027
no dated debt inside 24 months
On the tape since
Dec 31, 2022
latest Sep 30, 2024
Events
5
dated, non-routine
Lender marks
each lender's own fair value over cost at Sep 30, 2024, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| A••••• D••• S•••••••• B•• | $51M | 99¢ | 0 pts |
Every BDC piece · 5 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A••••• D••• S•••••••• B•• | delayed draw term loan first lien Investment T••• - F•••• L••• S•••••• D••• - D•••••• D••• I••••••• R••• S+550, 1.00% F•••• | $32.2M | $31.6M 99c | S+550 bp PIK 1.00% |
| A••••• D••• S•••••••• B•• | term loan first lien Investment T••• - F•••• L••• S•••••• D••• - T••• L••• I••••••• R••• S+550, 1.00% F•••• M•• | $10.3M | $10.2M 99c | S+550 bp |
| A••••• D••• S•••••••• B•• | term loan first lien Investment T••• - F•••• L••• S•••••• D••• - T••• L••• I••••••• R••• S+625, 1.00% F•••• M•• | $8.2M | $8.2M 102c | S+625 bp |
| A••••• D••• S•••••••• B•• | revolver first lien Investment T••• - F•••• L••• S•••••• D••• – R••••••• I••••••• R••• S+660, 1.00% F•••• M••• | $356,000 | Not disclosed n/a | S+660 bp |
| A••••• D••• S•••••••• B•• | term loan first lien Investment T••• - F•••• L••• S•••••• D••• - T••• L••• I••••••• R••• S+660, 1.00% F•••• M•• | Not disclosed | $355,000 | S+660 bp |
Capital structure as the BDCs see it
latest quarter end Sep 30, 2024
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien delayed draw term loan first lien exited Sep 30, 2024 | at least $32.2M | 99c | S+550 bp PIK 1.00% | Aug 13, 2027 | 1 |
| first lien term loan first lien exited Sep 30, 2024 | at least $18.5M | 100c | S+660 bp | Aug 13, 2027 | 1 |
| first lien revolver first lien exited Sep 30, 2024 | at least $356,000 | n/a | S+660 bp | Aug 13, 2027 | 1 |
Equity pieces beside the debt: other ($39.9M fair value, 1 BDC)
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, 2024 | 1 | $51.0M | $50.2M | 99c | 1 |
| Jun 30, 2024 | 1 | $51.0M | $50.2M | 99c | 0 |
| Mar 31, 2024 | 1 | $41.6M | $39.9M | 100c | 0 |
| Dec 31, 2023 | 1 | $41.7M | $40.0M | 100c | 0 |
All 7 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2023 | 1 | $9.3M | $8.0M | 100c | 0 |
| Mar 31, 2023 | 1 | $9.3M | $8.1M | n/a | 0 |
| Dec 31, 2022 | 1 | $9.3M | $8.3M | 100c | 0 |
What changed
- Facility left every BDC scheduleSep 30, 2024
- PIK interest appearsSep 30, 2024
- Facility left every BDC scheduleSep 30, 2024
- Facility left every BDC scheduleSep 30, 2024
- PIK interest appearsSep 30, 2024
Full timeline · 6 eventsShow fewer
- Spread changed (observed)Jun 30, 2024
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- RISE AND BRILL BAKED GOODSderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived
- Industry
- Consumer Staples Distribution & Retailreportedas one filer wrote it