DFX Intelligence
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Borrower
E••••••••• S•••• G•••• H••••••• I•• L••
group grade Aoff every schedule since Dec 31, 2024sponsor unattributed
Nothing material in the last 200 days. Last change: 31 Dec 2024, Consensus mark 85¢ on cost, down from 87¢ a year ago, 88¢ last quarter.
Mark path, consensus per quarter end
87¢ · 86¢ · 86¢ · 88¢ · 85¢Q4 2023 to Q4 2024
Principal held
at least $191M
sum of BDC pieces, a lower bound
Fair value
$166M
85c 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
Apr 23, 2028
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Dec 31, 2024
Events
6
dated, non-routine
Lender marks
each lender's own fair value over cost at Dec 31, 2024, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| B••••••••• P•••••• C••••• F••• | $191M | 85¢ | -3 pts |
Every BDC piece · 4 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••••••••• P•••••• C••••• F••• | delayed draw term loan lien unstated | $64.6M | $55.5M 87c | S+575 bp |
| B••••••••• P•••••• C••••• F••• | delayed draw term loan lien unstated N••••••••• I••••• | $64.6M | $55.5M 87c | S+575 bp |
| B••••••••• P•••••• C••••• F••• | delayed draw term loan lien unstated N••••••••• I••••• | $30.9M | $27.5M 82c | S+575 bp |
| B••••••••• P•••••• C••••• F••• | delayed draw term loan lien unstated | $30.9M | $27.5M 82c | S+575 bp |
Capital structure as the BDCs see it
latest quarter end Dec 31, 2024
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| delayed draw term loan lien unstated exited Dec 31, 2024 | at least $191M | 85c | S+575 bp | Apr 23, 2028 | 1 |
| other lien unstated exited Dec 31, 2022 | at least $87.0M | 98c | S+551 bp | Apr 23, 2028 | 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, 2024 | 1 | $191M | $166M | 85c | 0 |
| Sep 30, 2024 | 1 | $95.9M | $86.0M | 88c | 2 |
| Jun 30, 2024 | 1 | $93.5M | $82.0M | 86c | 2 |
| Mar 31, 2024 | 1 | $90.4M | $79.5M | 86c | 2 |
All 10 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Dec 31, 2023 | 1 | $88.2M | $78.2M | 87c | 0 |
| Sep 30, 2023 | 1 | $87.0M | $81.3M | 92c | 0 |
| Jun 30, 2023 | 1 | $87.0M | $83.9M | 95c | 0 |
| Mar 31, 2023 | 1 | $87.0M | $86.3M | 98c | 0 |
| Dec 31, 2022 | 1 | $87.0M | $86.7M | 98c | 0 |
| Sep 30, 2022 | 1 | $58.6M | $60.0M | 103c | 0 |
What changed
- Facility left every BDC scheduleDec 31, 2024
- PIK interest increasedJun 30, 2024
- PIK interest increasedJun 30, 2024
- PIK interest appearsMar 31, 2024
- PIK interest appearsMar 31, 2024
Full timeline · 11 eventsShow fewer
- Marked down across lendersDec 31, 2023
- Marked down (one lender)Dec 31, 2023
- Spread changed (observed)Jun 30, 2023
- Spread increasedJun 30, 2023
- Facility left every BDC scheduleDec 31, 2022
- Marked down (one lender)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
- ENGINEERED STONEderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived