DFX Intelligence
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Borrower
R•• L•••••• M••••••••• L••
Hotels, Restaurants & Leisuregroup grade Aoff every schedule since Jun 30, 2024sponsor unattributed
Nothing material in the last 200 days. Last change: 30 Jun 2024, Consensus mark 100¢ on cost, up from 98¢ a year ago, 86¢ last quarter.
Mark path, consensus per quarter end
98¢ · 100¢ · 92¢ · 86¢ · 100¢Q2 2023 to Q2 2024
Principal held
at least $72.8M
sum of BDC pieces, a lower bound
Fair value
$48.3M
67c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
1
0 equity pieces beside them
Next maturity
Sep 16, 2024
$72.8M inside 24 months
On the tape since
Dec 31, 2022
latest Jun 30, 2024
Events
10
dated, non-routine
Lender marks
each lender's own fair value over cost at Jun 30, 2024, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| T•• D••••• L•••••• V•• L•• | $72.8M | 100¢ | +14 pts |
Every BDC piece · 4 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| T•• D••••• L•••••• V•• L•• | term loan lien unstated A••••••••• D••• 05/22/24 R••• Up T••• L••• – 16.11% (S••• + 10.50%, 3.00% F••••) % of Net | $30.6M | $30.6M 101c | S+1050 bp |
| T•• D••••• L•••••• V•• L•• | term loan lien unstated A••••••••• D••• 01/22/21 T••• L••• – 19.10% inc PIK (S••• + 13.50%, 3.00% F••••, all PIK) | $22.9M | $458,119 2c | S+1350 bp |
| T•• D••••• L•••••• V•• L•• | term loan lien unstated A••••••••• D••• 05/22/24 D••••••••• T••• L••• – 16.11% (S••• + 10.50%, 3.00% F••••) % of N | $17.1M | $17.1M 100c | S+1050 bp |
| T•• D••••• L•••••• V•• L•• | term loan lien unstated A••••••••• D••• 02/29/24 I••••••••• T••• L••• – 18.96% inc PIK (S••• + 13.50%, 3.00% F•••• | $2.2M | $43,441 2c | S+1350 bp |
Capital structure as the BDCs see it
latest quarter end Jun 30, 2024
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| term loan lien unstated exited Jun 30, 2024 | at least $72.8M | 67c | S+1350 bp | Jan 22, 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 |
|---|---|---|---|---|---|
| Jun 30, 2024 | 1 | $72.8M | $48.3M | 67c | 0 |
| Mar 31, 2024 | 1 | $54.9M | $47.0M | 86c | 1 |
| Dec 31, 2023 | 1 | $47.9M | $43.7M | 92c | 0 |
| Sep 30, 2023 | 1 | $48.6M | $48.3M | 100c | 0 |
All 7 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2023 | 1 | $54.1M | $52.7M | 98c | 0 |
| Mar 31, 2023 | 1 | $54.3M | $49.4M | 92c | 0 |
| Dec 31, 2022 | 1 | $54.4M | $49.1M | 91c | 0 |
What changed
- Spread changed (observed)Jun 30, 2024
- Facility left every BDC scheduleJun 30, 2024
- Marked down across lendersJun 30, 2024
- Marked down (one lender)Jun 30, 2024
- Marked down across lendersMar 31, 2024
Full timeline · 16 eventsShow fewer
- Spread changed (observed)Mar 31, 2024
- PIK interest appearsMar 31, 2024
- Marked down (one lender)Mar 31, 2024
- Spread increasedMar 31, 2024
- PIK interest appearsMar 31, 2024
- Spread changed (observed)Dec 31, 2023
- Marked down across lendersDec 31, 2023
- Marked down (one lender)Dec 31, 2023
- Spread increasedDec 31, 2023
- Mark recoveredJun 30, 2023
- New borrower on a BDC scheduleDec 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
- R•• L••••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived
- Industry
- Hotels, Restaurants & Leisurereportedas one filer wrote it