DFX Intelligence
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Borrower
C••• E••••••••• O••••••••• L••
Hotels, Restaurants & Leisuregroup grade Aoff every schedule since Jun 30, 2025sponsor unattributed
Also written as: Undrawn Commitment
Nothing material in the last 200 days. Last change: 30 Jun 2025, $17.5M principal held by 2 lenders; matures Aug 2028.
Mark path, consensus per quarter end
100¢ · 100¢ · 101¢ · 101¢ · 101¢Q2 2024 to Q2 2025
Where each lender marks it on the first lien term loan, 1 point apart
100¢101¢
Principal held
at least $17.5M
sum of BDC pieces, a lower bound
Fair value
$17.5M
101c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
2
1 equity pieces beside them
Next maturity
Aug 9, 2028
no dated debt inside 24 months
On the tape since
Mar 31, 2023
latest Jun 30, 2025
Events
3
dated, non-routine
Lender marks
each lender's own fair value over cost at Jun 30, 2025, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| M••••• F•••••••• I••••••••• C••• | $9.64M | 101¢ | 0 pts |
| M••••• A••••• I••••••••• P•••••• L•••••• | $7.88M | 100¢ | 0 pts |
Every BDC piece · 3 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| M••••• F•••••••• I••••••••• C••• | term loan first lien F•••• L••• S•••••• D••• - T••• L••• S•••+660, 1.50% F•••• M••••••• D••• 08/09/28 | $8.5M | $8.5M 101c | SOFR+660 bp |
| M••••• A••••• I••••••••• P•••••• L•••••• | term loan first lien F•••• L••• S•••••• D••• - T••• L••• I••••••• R••• S+660, 1.50% F•••• M••••••• D••• 8/9/202 | $7.9M | $7.9M 100c | SOFR+660 bp |
| M••••• F•••••••• I••••••••• C••• | delayed draw term loan first lien F•••• L••• S•••••• D••• - D•••••• D••• S•••+660, 1.50% F•••• M••••••• D••• 08/09/28 | $1.1M | $1.1M 102c | SOFR+660 bp |
Capital structure as the BDCs see it
latest quarter end Jun 30, 2025
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Jun 30, 2025 | at least $16.4M | 101c | SOFR+660 bp | Aug 9, 2028 | 2 |
| first lien delayed draw term loan first lien exited Jun 30, 2025 | at least $1.1M | 102c | SOFR+660 bp | Aug 9, 2028 | 1 |
Equity pieces beside the debt: other (Not disclosed 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 |
|---|---|---|---|---|---|
| Jun 30, 2025 | 2 | $17.5M | $17.5M | 101c | 0 |
| Mar 31, 2025 | 2 | $16.4M | $16.4M | 101c | 0 |
| Dec 31, 2024 | 2 | $24.4M | $24.4M | 101c | 0 |
| Sep 30, 2024 | 2 | $7.9M | $7.9M | 100c | 0 |
All 10 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2024 | 2 | $8.0M | $8.0M | 100c | 0 |
| Mar 31, 2024 | 1 | $0 | $0 | n/a | 0 |
| Dec 31, 2023 | 2 | $8.0M | $8.0M | 100c | 0 |
| Sep 30, 2023 | 1 | $0 | $0 | n/a | 0 |
| Jun 30, 2023 | 1 | $0 | $0 | n/a | 0 |
| Mar 31, 2023 | 1 | $0 | $0 | n/a | 0 |
What changed
- Facility left every BDC scheduleJun 30, 2025
- Facility left every BDC scheduleJun 30, 2025
- New lender joined a facilityDec 31, 2024
- New borrower on a BDC scheduleMar 31, 2023
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- CAVE OPERATIONSderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived
- Industry
- Hotels, Restaurants & Leisurereportedas one filer wrote it