DFX Intelligence
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Borrower
N•• C•••••••••
group grade Aoff every schedule since Dec 31, 2023sponsor unattributed
Nothing material in the last 200 days. Last change: 31 Dec 2023, Consensus mark 100¢ on cost, up from 97¢ a year ago, 102¢ last quarter.
Mark path, consensus per quarter end
97¢ · 96¢ · 98¢ · 102¢ · 100¢Q4 2022 to Q4 2023
Principal held
at least $59.8M
sum of BDC pieces, a lower bound
Fair value
$50.5M
100c on cost, debt pieces
Unfunded
$7.7M
commitments not yet drawn
BDC lenders
3
1 on the latest quarter
Facilities
3
0 equity pieces beside them
Next maturity
Nov 29, 2028
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Dec 31, 2023
Events
8
dated, non-routine
Lender marks
each lender's own fair value over cost at Dec 31, 2023, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| H•• C•••••••• L•••••• F••• | $59.8M | 100¢ | new this quarter |
Every BDC piece · 3 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| H•• C•••••••• L•••••• F••• | unstated lien unstated | $52.1M | $50.7M 100c | S+775 bp |
| H•• C•••••••• L•••••• F••• | unstated lien unstated | $7.7M | -$208,000 100c | |
| H•• C•••••••• L•••••• F••• | revolver first lien 1st L••• S••••• S•••••• R•••••••• L••• | Not disclosed | Not disclosed |
Capital structure as the BDCs see it
latest quarter end Dec 31, 2023
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| term loan lien unstated exited Sep 30, 2023 | at least $71.3M | 102c | S+900 bp PIK 20.00% | Aug 6, 2026 | 2 |
| other lien unstated exited Dec 31, 2023 | at least $59.8M | 100c | S+775 bp | Nov 29, 2028 | 1 |
| first lien revolver first lien exited Dec 31, 2023 | unknown | n/a | unstated | 1 |
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Dec 31, 2023 | 1 | $59.8M | $50.5M | 100c | 0 |
| Sep 30, 2023 | 2 | $71.3M | $71.2M | 102c | 4 |
| Jun 30, 2023 | 2 | $74.8M | $72.0M | 98c | 2 |
| Mar 31, 2023 | 2 | $77.5M | $72.9M | 96c | 2 |
All 7 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Dec 31, 2022 | 2 | $75.9M | $71.7M | 97c | 2 |
| Sep 30, 2022 | 1 | $44.6M | $42.0M | 96c | 0 |
| Dec 31, 2021 | 1 | $85.9M | $84.6M | 101c | 0 |
What changed
- New lender joined a facilityDec 31, 2023
- Facility left every BDC scheduleDec 31, 2023
- Facility left every BDC scheduleDec 31, 2023
- Facility left every BDC scheduleSep 30, 2023
- Spread changed (observed)Sep 30, 2023
Full timeline · 15 eventsShow fewer
- Spread increasedSep 30, 2023
- Spread increasedSep 30, 2023
- PIK interest appearsDec 31, 2022
- Maturity extended (observed)Dec 31, 2022
- Spread changed (observed)Dec 31, 2022
- New lender joined a facilityDec 31, 2022
- PIK interest appearsDec 31, 2022
- Spread increasedDec 31, 2022
- Maturity extended (observed)Dec 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
- NWNderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 3 BDCsderived