DFX Intelligence
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Borrower
O••• T••••••••• I••
Softwaregroup grade Aoff every schedule since Mar 31, 2024sponsor unattributed
Also written as: 2023; 5; Inc.Warrant 7; Inc.Warrant 7/5/2023
Nothing material in the last 200 days. Last change: 31 Mar 2024, Consensus mark 103¢ on cost, up from 100¢ in Q3 2023, 100¢ last quarter.
Mark path, consensus per quarter end
100¢ · 100¢ · 103¢Q3 2023 to Q1 2024
Principal held
at least $3.9M
sum of BDC pieces, a lower bound
Fair value
$4.0M
103c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
1
2 equity pieces beside them
Next maturity
Mar 1, 2026
$3.9M inside 24 months
On the tape since
Sep 30, 2023
latest Mar 31, 2024
Events
2
dated, non-routine
Lender marks
each lender's own fair value over cost at Mar 31, 2024, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| H••••••• C••••••• I••• | $3.87M | 103¢ | +3 pts |
Every BDC piece · 2 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| H••••••• C••••••• I••• | term loan first lien S••••• S••••••, M••••••• D••• M•••• 2026, P•••• + 1.35%, F•••• rate 8.85%, PIK I•••••••, 1 | $3.9M | $4.0M 103c | S+135 bp PIK 1.75% |
| H••••••• C••••••• I••• | warrants equity W•••••• 7/5/2023, Series C••••• S•••• | Not disclosed | $35,000 58c |
Capital structure as the BDCs see it
latest quarter end Mar 31, 2024
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Mar 31, 2024 | at least $3.9M | 103c | S+135 bp PIK 1.75% | Mar 1, 2026 | 1 |
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Mar 31, 2024 | 1 | $3.9M | $4.0M | 103c | 1 |
| Dec 31, 2023 | 1 | $11.6M | $11.4M | 100c | 3 |
| Sep 30, 2023 | 1 | $3.8M | $3.8M | 100c | 1 |
What changed
- Facility left every BDC scheduleMar 31, 2024
- New borrower on a BDC scheduleSep 30, 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
- O••• T•••••••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived
- Industry
- Softwarereportedas one filer wrote it